Polyplex achieves YoY improvement, plans BOPET line in India
Polyplex has shown strong performance due to a market capitalisation that exceeds INR-3900 crore. The group has demonstrated steady growth and expansion, with a market capitalisation of INR-4,182.1 crore.
03 Jun 2025 | By Prabhat Prakash
Polyplex Corporation is a global leader in the PET film industry, boasting the fifth-largest capacity worldwide.
The Polyplex focus is on differentiated products (D-PAC) to boost margins, and a new USD 58M BOPET film line in India, which is set to start in H2 FY26- 27. The company has seven facilities in five countries, with a 492k MTPA capacity, and a diverse customer base of around 2,735 clients across 86 countries.
As per the latest round of results, in Q4 FY24-25, sales volume reached 88,226 MT, showing 3% quarter-over-quarter (QoQ) and 1% year-over-year (YoY) growth. Q4 revenue was INR-1,736 crore (USD 200M), up 1% QoQ and 4% YoY, while FY24-25 revenue was INR-7,752 crore (USD 89M), a 9% YoY increase.
As reported in WhatPackaging?, Polyplex Corporation's subsidiary, Polyplex (USA) LLC, has commenced commercial production after successful trial runs in the US. The two factory projects include a new BOPET thin film line with a capacity of 50,000 MT per year, increasing the total capacity in the US to 81,000 MT per year, and a capacity debottlenecking of the existing PET resin plant from 58,000 MT to 86,000 MT per year. The aggregate capital expenditure for these projects amounts to USD 124 million. The group will become the largest US BOPET producer with these trial runs at Polyplex (USA).
Al Ghurair Group acquired a 24.3% stake in PPC at the end of 2023, and the production capacity will notch up to one million MTPA.
Polyplex engages in sustainability efforts like recycling waste and investing in renewable energy, and they have a strong R&D department with 32 patents and 14 trademarks driving innovation. For Q1 FY25- 26, normalised demand is expected in both the industrial and packaging segments.
Today, Polyplex Corporation is a key player in the global polyester (PET) film industry, holding the fifth-largest capacity worldwide. Their capabilities encompass both thin and thick PET films for diverse applications, along with a diversified portfolio including BOPP, blown PP/PE, and CPP films, produced in advanced plants. They also feature integrated downstream capabilities such as metallising, holography, silicone coating, offline chemical coating, extrusion coating, and transfer metallised paper.
Polyplex serves 1,900 customers in 83 countries, maintaining a global presence. They operate integrated manufacturing and distribution in six countries: India, Thailand, Turkey, Indonesia, the Netherlands, and the US.