iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

India Ratings revises outlook on Polyplex Corporation to Positive; Affirms ‘IND AA-‘

9 Mar 2022 , 03:43 PM

India Ratings and Research Private Limited (Ind-Ra) has affirmed Polyplex Corporation Limited credit rating. The rating on long-term loans for Rs562.5 million has been affirmed at ‘IND AA-/Positive’; outlook revised to Positive from Stable.

The credit rating agency has also affirmed the rating on fund-based working capital limits for Rs2,220 million at ‘IND AA-/Positive IND A1+’; Outlook revised to Positive from Stable. On non-fund based working capital limits for Rs300 million — ‘IND AA-/Positive/IND A1+’ rating has been affirmed; Outlook revised to Positive from Stable.

“Ind-Ra continues to take a consolidated view of PCl and its subsidiaries Polyplex (Asia) Pte Limited (100% shareholding) and Polyplex (Thailand) Public Co. Limited (Polyplex Corporation Limited: 17.19%, Polyplex (Asia) Pte. Ltd: 33.81%), due to the strong operational and strategic linkages among them.

The financials of Polyplex's other large subsidiaries, namely Polypiex America Holdings Inc., Polyplex (Singapore) Pte. Ltd., Polypiex Europe B.V., EcoBlue Limited and PT Polyplex Films Indonesia, are consolidated at Polyplex (Thailand) Public Co., together referred to as the group, and hence form a part of Ind-Ra's consolidated approach,” company shared Ind-Ra’s rationale on Tuesday.

It added the Outlook revision reflects a sustained improvement in the consolidated operating performance of the company in FY21, with growth in the revenue and EBITDA margins and which Ind-Ra expects over the medium term, backed by -an expansion in the volumes.

In December 2021, PCl commissioned its 60,000MT BOPP facility in Indonesia. Furthermore, the company plans an expansion of a 50,000MT BOPET facility in the US and a 4,392MT of blown PP films capacity in Turkey.

Additionally, the company will incur a capex for setting up coated films facility in Turkey and the US. Ind-Ra expects the operation ramp-up at its BOPP facility and the commencement of additional capacities over the medium term will support the volume growth and is likely to ensure a healthy operating performance of the company.

Polyplex Corporation Ltd ended at Rs1,865.75 per piece up by Rs11.5 or 0.62% from its previous closing of Rs1,854.25 per piece on the BSE.

Related Tags

  • credit rating
  • Ind-Ra
  • Polyplex Corporation Limited
  • Polyplex Corporation news
  • Polyplex Corporation rating
  • Polyplex Corporation share price
  • Polyplex Corporation stock price
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Images
28 Mar 2024   |   01:02 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.