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Polyplex Corporation gains on commencing operations in Indonesia, hits record high

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Polyplex Corporation advanced 2.99% to Rs 1,885 after the company commenced operations of 10.6 m Biaxially oriented polypropylene (BOPP) film line in Indonesia with a capacity of 60 KTPA (kilo tonnes per annum).

Polyplex Corporation announced that a 10.6 meter Biaxially oriented polypropylene (BOPP) Film Line with a capacity of 60 KTPA (kilo tonnes per annum) by PT Polyplex Films Indonesia, a wholly-owned subsidiary of Polyplex (Thailand) Public Company (PTL), Thailand, (51% subsidiary of the company) has commenced operations on Tuesday, 7 December 2021.

Biaxially oriented polypropylene (BOPP) film is film stretched in both machine and transverse directions, producing molecular chain orientation in two directions.

Polyplex Corporation's consolidated net profit surged 65.7% to Rs 169.40 crore on a 26.1% rise in net sales to Rs 1,547.58 crore in Q2 September 2021 over Q2 September 2020.

Polyplex Corporation is among the world's largest manufacturers of thin polyethylene terephthalate (PET) film.

The scrip has touched an all-time high at Rs 1,984.70 during intraday trade.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 08 2021. 10:24 IST