Slide 1: Exchange filing cover letter
August 13, 2026 The Manager - Listing Department, The General Manager - Listing Department, National Stock Exchange of India Limited, BSE Limited Exchange Plaza, NSE Building, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra East, Dalal Street, Mumbai- 400 051 Mumbai- 400 001 SYMBOL : POLYPLE
Slide 2: Polyplex Corporation Limited First Quarter 26-27 Consolidated Financial Results & Business Profile
Polyplex Corporation Limited August 13, 2026 First Quarter 26-27 Consolidated Financial Results & Business Profile India - Bazpur India - Khatima USA Thailand Indonesia Ecoblue, Thailand Turkey PDPL, India 1
Slide 3: Contents
Contents Company Overview Quarter & Year under review Success Enablers Trends – Key Financial Indicators Stability in Earnings Industry Outlook Inorganic Growth Growth Capex Navigating the Middle East Crisis Guidance Annexures 2
Slide 4: Company Overview
Company Overview POLYPLEX.
Slide 5: Polyplex at a Glance
Polyplex at a Glance ◼ Integrated and diversified manufacturer of plastic film substrates including BOPET (thin & thick), BOPP, CPP and Blown PP / PE ◼ Wide offering of specialty, innovative and differentiated products across a variety of packaging, electrical & electronic and other industrial appli
Slide 6: Polyplex Journey so far: Ability to identify & capitalize on opportunities
Polyplex Journey so far: Ability to identify & capitalize on opportunities Trend-Setter With Many ‘Firsts’ in the Industry First in the industry First in the industry to invest First Indian producer to First Indian manufacturer to operate 10.6-meter line @ in post-consumer and post- undertake Direct
Slide 7: Pioneer in Sustainable Products and Processes in the Industry
Pioneer in Sustainable Products and Processes in the Industry Strong Commitment Towards Sustainability Focused Innovative Solutions ◼ Spearheading post-consumer and post-industrial waste (PIW) recycling in the industry towards achieving the goal of circular economy ◼ Has taken various initiatives to
Slide 8: Quarter under review
Quarter under review POLYPLEX.
Slide 9: Financial Performance – Snapshot
Financial Performance – Snapshot India Rating & Research IND AA- with Stable Superior Value Creation Over the Years… (Q1 FY 26-27) (FY 25-26) $238mn $38mn $801mn $65mn Revenue# Normalized Normalized EBITDA* Revenue# EBITDA* 16% 8% Normalized 16% Normalized 3% EBITDA* ROCE1 EBITDA* ROCE1 Margin Margi
Slide 10: Q1 FY 26-27 Performance Snapshot
Q1 FY 26-27 Performance Snapshot QoQ Growth YoY Growth (Q1 FY 26-27 v/s Q4 FY 25-26) (Q1 FY 26-27 v/s Q1 FY 25-26) Sales Volume (All Films) 91,417 MT 4% 1% Sales Revenue 20% 30% 2,250 INR Crores ($ 238 million) Normalized EBITDA 362 INR Crores ($ 38 million) 182% 95% PAT (Before Minority) INR 133 cr
Slide 11: EBITDA Evolution
EBITDA Evolution Normalized EBITDA Bridge (Q1 26-27 vs Q4 25-26) 7.5 -1.0 26.1 0.1 38.2 -5.7 USD million 13.5 -2.3 Normalised Volume VA variance Rate VA variance Other Film & Chips Other Variable Cost Fixed Cost Other Income Normalised EBITDA - Q4 25-26 (Thin PET & OPP) (Thin PET & OPP) Contribution
Slide 12: Shareholders’ Return
Shareholders’ Return Sustained Longer Term Shareholders’ Return 5,000 1,600 1,342 1,388 4,500 1,400 1,214 4,000 1,137 1,130 1,200 3,500 INR Crores 3,000 1,000 INR 2,500 800 2,000 600 1,500 400 1,000 500 200 3,569 3,549 3,810 4,214 4,357 - - FY23 FY24 FY25 FY26 Q1FY27 Shareholders' Fund (after adjust
Slide 13: Success Enablers
Success Enablers POLYPLEX.
Slide 14: Success Enablers
Success Enablers 1 Global and Integrated Manufacturing Set-up 2 Diversified and Differentiated Product Portfolio Polyplex is the ONLY Player to Combine Key Attributes… Multifarious and Demanding Customer Base Served 3 by an International Sales & Distribution Network …Resulting in Resilient Continued
Slide 15: 8 Manufacturing Facilities in 5 Countries
1 A Self-Contained Manufacturing & Sales Capability in Each Region Manufacturing Proximity and an Entrenched Sales & Distribution Network in Major Demand Centers Ensure a Reliable Supply Chain for Customers 8 Manufacturing Facilities In 5 Countries with Multiple Warehouses & Liaison Offices Worldwid
Slide 16: Integrated Manufacturing Capacities Across Geographies
1 Integrated Manufacturing Capacities Across Geographies Ability to Provide a Comprehensive Suite of Products in Each Manufacturing Location Resin Base Films Value Added Films Mechanically PET Film Recycled BOPET BOPET Blown PP / Resin1 Resin2 Thin Thick BOPP CPP PE Metallized Holography Coated3 TMP
Slide 17: Integrated Manufacturing Has Broadened Product Portfolio
1 Integrated Manufacturing Has Broadened Product Portfolio Base Film Lines with Upstream PET Resin Plants and Downstream Capabilities ◼ The only global player with resin plants at all manufacturing locations ◼ Forward integration provides ability to undertake one or more downstream processes on the
Slide 18: Integrated Manufacturing Across Geographies
1 Integrated Manufacturing Across Geographies Ensures Supply Chain Efficiency, Cost Optimization & Lower Time to Access and Market New Products and Applications Backward integration into captive PET resin Forward integration to downstream capabilities production at all film manufacturing locations i
Slide 19: Polyplex – A Respected Plastic Film Manufacturer
2 Polyplex – A Respected Plastic Film Manufacturer In addition to Sarafil range of standard and specialty base films, Polyplex has diversified into several value-added downstream products under Saracote, Saralam and Saraprint brands over the last 10-15 years Sarafil Base Films are suitable for a ran
Slide 20: Focus on Highly Differentiated Specialty Film Sales
2 Focus on Highly Differentiated Specialty Film Sales Differentiated Product, Application or Customer (D-PAC): Drives Polyplex’s Right to Win in a Competitive Industry Unique value proposition of differentiated products, applications and customers has led to a healthy growth in specialty portfolio ✓
Slide 21: Increasing Contribution of D-PAC Sales
2 Increasing Contribution of D-PAC Sales Continued Increase in D-PAC Volumes… …Resulting in Growth of Incremental1 D-PAC EBITDA 371 0.93 0.89 0.91 0.81 0.95 360 338 343 263 268 244 239 $132 $89 $10 62 $47 $65 $61 $85 $83 $95 $87 92 94 104 108 30 $28 -$6 -$22 -$22 FY23 FY24 FY25 FY26 Q1FY27 Annualise
Slide 22: Product and Application Penetration (1/6)
2 Product and Application Penetration (1/6) Flexible Packaging - Food¹ Sugar & Confectionary Frozen Food Cheese & Dairy Snacks & Cookies Tea & Coffee Cereals Food Staples Soups Liquids Specialty Food Others ¹ Sarafil Thin BOPET (Primarily). BOPP Specific 21
Slide 23: Product and Application Penetration (2/6)
2 Product and Application Penetration (2/6) Flexible Packaging – Non Food¹ Medical & Pharmaceutical Kitchen & Home Care Cigarettes & Tobacco Personal Care & Hygiene Pet Food Garden & Outdoor Electronics Packaging Miscellaneous Personal Care & Hygiene Shrink Films Textile Bags ¹ Sarafil Thin BOPET, B
Slide 24: Product and Application Penetration (3/6)
2 Product and Application Penetration (3/6) CPP & Blown PP/ PE Food Food Overwrap Flower Overwrap CPP Sealant Film Medical Retort Anti-fog Construction Underlayment Metallized PE, Sealant, Safety Air Bags Container Liner Labels & Specialty Blown PP Blown PE Retort PP Mulch Metal Protection Stretch W
Slide 25: Product and Application Penetration (4/6)
2 Product and Application Penetration (4/6) Labels, Carton, Holography¹ and Paper Labels Carton Packaging Direct and Transfer Metallized Paper Brand Protection - Holography 1Sarafil Thin BOPET, BOPP 24
Slide 26: Product and Application Penetration (5/6)
2 Product and Application Penetration (5/6) Industrial1,2 Thin Films¹ Flexible Ducting Hot Stamping Foil Tapes Release Liners¹,² EV Battery MLCC Construction, FRP 1,2 Window Films 1,2 Electronics 1,2 Others Thick Films² Media & Screen PV Solar Electricals Face Shield Electronic Liner Decoration Prot
Slide 27: Product and Application Penetration (6/6)
2 Product and Application Penetration (6/6) Downstream Construction Release Liners Saracote Saraprint (Digital Print Media) Saralam 26
Slide 28: Constantly Innovating to Ensure Sustained Differentiation
2 Constantly Innovating to Ensure Sustained Differentiation Dedicated R&D Ecosystem in India Demonstrated ability to partner with customers for joint product development and co-innovation due to strong technical capabilities, thereby deepening customer relationships A separate R&D department registe
Slide 29: Global and Well-Diversified Customer Base
3 Global and Well-Diversified Customer Base Deep-Rooted Relationships with Key Customers Spanning Over 15+ Years ◼ Tier I supplier to leading global and regional converters who cater to global CPGs / OEMs ◼ Strong manufacturing and distribution capabilities helps capitalize on the increasing prefere
Slide 30: Continued Focus on Operational Efficiencies and Costs
4 Continued Focus on Operational Efficiencies and Costs ◼ Business process continuous improvement and excellence programs — Undertaking several initiatives to improve business processes and optimize costs through continuous improvement in the areas of productivity, wastage, freight, packing, energy
Slide 31: Superior Utilization Relative to Industry
4 Superior Utilization Relative to Industry Polyplex has consistently improved capacity utilization through debottlenecking and outperformed the industry (Thin BOPET Film utilization) 100% 99% 99% 99% 98% 96% 110% 300 92% 87% 240 90% 180 67% 83% 82% 81% 59% 70% 74% 54% 120 50% 60 203 229 232 231 230
Slide 32: Polyplex’s Commitment to Sustainable Development & Growth
5 Polyplex’s Commitment to Sustainable Development & Growth Commitment Towards Sustainable Environment A ◼ Strive to work on sustainable products and processes ◼ Continue to make multiple and substantial investments in recycling operations to provide solutions for post industrial as well as post-con
Slide 33: Continued Focus and Thrust on Sustainability
5 Continued Focus and Thrust on Sustainability 5 1 ◼ Industry Collaboration — Working in close collaboration ◼ Increase in Post-consumer / with industry associations, Post-industrial Recycling CPGs/OEM, Converters and Capacity research organizations to develop viable solutions 4 3 2 ◼ Ecoblue Initia
Slide 34: Recent Initiatives Undertaken by Polyplex (1/2)
5 Recent Initiatives Undertaken by Polyplex (1/2) Sustainable Products That Have Already Been Delivered Polyplex has successfully executed several sustainability initiatives till date Post-Consumer Foil Replacement Recycled PET Film - Mono PET structures (High Barrier 30% - 100% PCR Metallized films
Slide 35: Recent Initiatives Undertaken by Polyplex (2/2)
5 Recent Initiatives Undertaken by Polyplex (2/2) Sustainable Products That Have Already Been Delivered Polyplex RPET solutions - Sarafil rPET Films Available with 30, 70, Superior recycling 90 & 100% PCR in rPET grades available process – Glycolysis Transparent, Metalized in Metalized and White (Ch
Slide 36: Ecoblue - A Recycling Initiative of Polyplex
5 Ecoblue - A Recycling Initiative of Polyplex Ecoblue is helping brands meet their sustainability goals About Ecoblue ◼ Starting operations in 2013, Ecoblue provides sustainable solutions for film-based process waste as well as post- consumer plastic waste for varied applications Key Products ◼ Onl
Slide 37: Promoting Sustainability Through Ecoblue
5 Promoting Sustainability Through Ecoblue Engaged in Adopting Innovative Recycling Solutions Ecoblue is a specialist in recycling a wide spectrum of materials Recycled Polyolefin for Virgin Recycling “Unrecyclable Materials” rPET for Virgin Replacement Replacement Ecoblue Strap2Strap Solution Bottl
Slide 38: Meaningful Social Impact
5 Meaningful Social Impact Conscientious Approach to Contribute to the Community ◼ Ensures safety and security of staff members — A robust health monitoring mechanism has been in place including handling of emergency situations — Proactive communication and prevention has been the hallmark of these
Slide 39: Focus on SCORE
5 Focus on SCORE Core Values Binding the Employees ◼ We leverage synergies across hierarchies, functions and Seamlessness locations Professional, highly Stable management qualified and team with almost ◼ We value our people and are committed to their experienced zero attrition over leadership team t
Slide 40: Creating Impact Through Strong Governance
5 Creating Impact Through Strong Governance Continuously Strives to Follow Best Practices ✓ Committed to promoting fundamental values of honesty, integrity, and ethical conduct among all stakeholders ✓ Strong compliance orientation — Adheres to all applicable laws, regulations and guidelines across
Slide 41: Recipient of Prestigious Awards and Accolades Globally
5 Recipient of Prestigious Awards and Accolades Globally Polyplex has been a recipient of some of the most prestigious awards in the industry, demonstrating its commitment towards becoming a global leader in the industry Prime Minister’s Best Public Best Public Corporate Social Green Award for Prime
Slide 42: Trends Key Financial Indicators
Trends Key Financial Indicators 41
Slide 43: Key Financial Indicators (1/2)
Key Financial Indicators (1/2) Sales Volume Across All Films (KMT) EBITDA ($mn) and EBITDA Margin (%) & $/kg -6% 1% 8% -1% 14% 8% 11% 8% 16% 0.37 0.18 0.26 0.18 0.42 360 338 343 371 132 89 91 61 65 38 FY23 FY24 FY25 FY26 Q1FY27 FY23 FY24 FY25 FY26 Q1FY27 Annualised Annualised Sales Volume (KMT) Grow
Slide 44: Key Financial Indicators (2/2)
Key Financial Indicators (2/2) Revenue ($ mn) Dividend and EPS (INR/Share) 110.97 66.64 65 951 760 812 801 29.00 12.05 14.32 238 23 3 13.5 3 FY23 FY24 FY25 FY26 Q1FY27 FY23 FY24 FY25 FY26 Q1FY27 Annualised Normal Dividend Special Dividend EPS Normalized1 ROCE ROE 14% 15% 16% 12% 14% 11% 7% 8% 10% 12
Slide 45: Stability in Earnings
Stability in Earnings 44
Slide 46: Business Model Creates a Natural Hedge Against Industry Volatility
Key Attributes of the Business Model Creates a Natural Hedge Against Industry Volatility Global S&D Network => diversified Global – local manufacturing and fragmented customer base; => cater to local market optimized market mix to improve needs margins Diversified portfolio Integrated manufacturing
Slide 47: Superior and Stable Gross Margins Relative to the Industry
Polyplex Has Consistently Generated Superior and Stable Gross Margins Relative to the Industry VA Stability Polyplex’s strength as a diversified and specialty - focused business enables it to achieve steadier gross margins 1.30 160 1.11 1.09 1.25 1.05 1.09 1.02 140 1.10 1.00 1.01 1.00 0.95 0.92 114
Slide 48: Industry Outlook
Industry Outlook 47
Slide 49: Thin BOPET Film Demand
Thin BOPET Film Demand Thin BOPET Film Demand Expected to Stay Resilient and Accounts for 80% of Global BOPET Film Demand Thin BOPET Films Expected to Be the Fastest Growing Segment in the Global BOPET Films Market Demand growth of Global Thin BOPET Film Demand (KMT) 5%-6% 6,000 5,000 4,000 3,000 2,
Slide 50: Thin BOPET Industry Outlook
Thin BOPET Industry Outlook Upcoming Capacity Additions Expected Capacity - Thin PET Film ◼ The majority of new capacity additions scheduled for commissioning are concentrated in China. However, prevailing market conditions and existing overcapacity could lead to delays or cancellations of several p
Slide 51: Inorganic Growth
Inorganic Growth POLYPLEX.
Slide 52: Acquisition of 51% Stake in Polyplex DigiPrint Private Limited (1/2)
Acquisition of 51% Stake in Polyplex DigiPrint Private Limited (1/2) Strengthening Polyplex’s position in the digital print media segment Polyplex Corporation Limited (“Polyplex”) on April 30, 2026, has successfully completed the acquisition of a 51% equity stake in Polyplex DigiPrint Private Limite
Slide 53: Acquisition of 51% Stake in Polyplex DigiPrint Private Limited (2/2)
Acquisition of 51% Stake in Polyplex DigiPrint Private Limited (2/2) Strengthening Polyplex’s position in the digital print media segment This strategic acquisition is aligned with Polyplex’s growth ambitions in the digital print media segment and is expected to significantly enhance the product por
Slide 54: Growth Capex
Growth Capex POLYPLEX.
Slide 55: Investment Under Implementation
Investment Under Implementation Key Investment Rationale Capital Cost Projects Location Likely Start Up (In USD million) New BOPET Film Line India 56 Q4 FY 26-27 Metallizers India 7 Q4 FY 26-27 Coater Turkey 10 Q2 FY 26-27 Total 74 Investment rationale: BOPET Film Line – India: — PET Film Demand exp
Slide 56: Impact of Middle East Crisis
Impact of Middle East Crisis 55
Slide 57: Navigating the Middle East Crisis
Navigating the Middle East Crisis Global Diversification Driving Operational Continuity and Margin Resilience Financial Impact & Margin Trajectory Polyplex Advantage Global Diversification – Wide geographic The Headwinds The Tailwinds presence helps us stay resilient, minimizing the impact of disrup
Slide 58: Guidance
Guidance POLYPLEX.
Slide 59: Second Quarter 26-27 Guidance
Second Quarter 26-27 Guidance Normalized EBITDA (USD million) 40 35 30 28.61 25 20 38 15 24 23 22 22 22 10 20 16 15 16 14 14 13 5 - Q1 23-24 Q2 23-24 Q3 23-24 Q4 23-24 Q1 24-25 Q2 24-25 Q3 24-25 Q4 24-25 Q1 25-26 Q2 25-26 Q3 25-26 Q4 25-26 Q1 26-27 Q2 26-27 Short to Medium term ▪ Incremental volumes
Slide 60: Annexures
Annexures POLYPLEX.
Slide 61: Shareholder Pattern
Shareholder Pattern • Polyplex Corporation Limited (PCL) is the Group Holding Company • PCL’s economic interest in the overseas businesses is 51% • PCL listed on BSE/NSE in India and the Thai subsidiary (PTL) on the Stock Exchange of Thailand (SET) • Shareholding of the Company (as on June 30, 2026)
Slide 62: Group Structure
Group Structure Private Investors Private Investor Polyplex DigiPrint Pvt. Ltd* (PDPL) INDIA Polyplex Corporation Limited (PCL / Polyplex India) INDIA older 49% Polyplex (Thailand) Public Co. Ltd. (PTL / Polyplex Thailand) THAILAND } 66.50% EcoBlue Ltd (EB / EcoBlue) THAILAND Manufacturing Company P
Slide 63: Disclaimer
Disclaimer • This presentation may contain forward-looking statements which are based on the Company’s current expectations and estimates about the industry, management’s beliefs and various other assumptions. These forward-looking statements are subject to various risks, uncertainties and other fac
Slide 64: Glossary
Glossary • EBITDA: Reported Earning before interest, tax, depreciation and amortisation • Normalized EBITDA: EBITDA excluding impact of unrealized FX gains/(losses) on long term loans • Revenue: Reported sales excluding other operating revenues • Net debt: Long-term debt + short term debt + current
Slide 65: Thank You
Thank You Polyplex Corporation Limited B-37, Sector-1, NOIDA Distt. Gautam Budh Nagar Uttar Pradesh-201 301 Board:+91.120.2443716-19 Fax:+91.120.2443724 BSE (scrip code) : 524051 Symbol : PTL NSE (symbol) : POLYPLEX ISIN : INE633B01018 Polyplex India Polyplex Thailand 64