Buy Polyplex Corporation, target price Rs 2200: HDFC Securities

HDFC Securities has buy call on Polyplex Corporation with a target price of Rs 2200. The current market price of Polyplex Corporation is Rs 1867.75. Time period given by analyst is 3 months when Polyplex Corporation Ltd. price can reach defined target.

Polyplex Corporation Ltd., incorporated in the year 1984, is a Small Cap company (having a market cap of Rs 5903.04 Crore) operating in Packaging sector.

Polyplex Corporation Ltd. key Products/Revenue Segments include Plastic Film, Resins, Others, Export Incentives for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1567.17 Crore, up 8.30 % from last quarter Total Income of Rs 1447.12 Crore and up 26.38 % from last year same quarter Total Income of Rs 1240.04 Crore. Company reported net profit after tax of Rs 169.40 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 50.97 per cent stake in the company as of 31-Dec-2021, while FIIs owned 9.29 per cent, DIIs 4.88 per cent.