Rs. 9/Share Dividend: November 26, 2024 Record Date; A Perfect Time To Buy?

BOPET (thin and thick), BOPP, CPP, and blown PP/PE are among the plastic film substrates that Polyplex Corporation produces. The firm offers a wide range of unique, creative, and specialised products for use in electrical and electronic, packaging, and other industrial applications. It is the only company in the world with resin factories in every manufacturing site. Over the past ten to fifteen years, Polyplex has expanded into a number of value-added downstream products under the Saracote, Saralam, and Saraprint brands in addition to the Sarafil line of conventional and speciality base films.

Polyplex Corporation Dividend

The Board of Directors considered and approved "Declaration and payment of Interim Dividend for the Financial Year 2024-25 @ Rs. 9/- per share of the face value of Rs. 10/- each, subject to TDS/ Withholding Tax. 'Record date' for the purpose of payment of aforesaid Dividend has been fixed as November 26, 2024 and is proposed to be paid within the time prescribed under law," said the company in a stock exchange filing.

Polyplex Corporation Financials

Revenue from operations for the September 2024 quarter was Rs 392.52 crore, up 2.93% from the September 2023 quarter's Rs 381.33 crore. Its net profit increased 36.11% from Rs. 10.80 crore in Q2FY24 to Rs. 14.70 crore in Q2FY25. In the September 2024 quarter, EBITDA was Rs. 31.25 crore, up 29.45% from Rs. 24.14 crore in the same period the previous year.

Polyplex Corporation Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "POLYPLEX has demonstrated remarkable strength and stock attempted an upward move but faced resistance near Rs 1,269, reversing to close at Rs 1,191. The stock price was moving in a larger consolidation pattern in the last couple of months. And it has broken out of the consolidation range of 1100-1175 this week. Notably, POLYPLEX maintains a robust technical posture by comfortably holding its position above the crucial 20-day, 50-day, and 200-day Exponential Moving Averages (EMA), reflecting a solid base and signaling a positive trend."

"The Relative Strength Index (RSI), a pivotal momentum indicator, is on the rise and currently stands at 52.69 levels. As POLYPLEX gears up to confront the next target level at 1300, its ability to sustain itself above critical support levels during pullbacks suggests a strong technical setup. Employing trailing stop losses, with a protective buffer near the significant support level of 1150, A prudent risk management strategy for investors who entered the market at lower levels. In conclusion, the technical analysis paints a favorable picture for POLYPLEX, indicating the potential for further upward movement and instilling confidence among investors," the analyst further added.

Disclaimer

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