Polyplex Corporation Limited

rs,

, Mumbai- 400 051 The General Manager - Listing Department, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 SYMBOL : POLYPLEX BSE Scrip Code : 524051 Dear Sir(s), Sub: R

3%

Fully Integrated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circula

4%

ly Integrated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circular

5%

ntegrated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circular Econ

8%

rated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circular Economy

13%

d Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circular Economy ~2,

16%

stream and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circular Economy ~2,650 C

51%

m and Downstream Capabilities Product Breakdown (YTD Q3 FY23 Revenues) 3% 4% 5% 8% 13% 16% 51% 34 Years of Operation At the Forefront of Sustainability and Circular Economy ~2,650 Custom

100%

g” process for manufacturing Sarafil rPET film with Post- Consumer Recycled (PCR) content up to 100%. Ramp up of recent investment for a new post-consumer Polyolefin and PET washing and recycli

14%

FY 22-23) (YTD Q3 FY 22-23) India Rating & Research IND AA- (Positive Outlook) $227mm Revenue# 14% Normalized EBITDA* Margin $32mm Normalized EBITDA* 7% ROCE1 $750mm Revenue# 16% Normalized E

7%

AA- (Positive Outlook) $227mm Revenue# 14% Normalized EBITDA* Margin $32mm Normalized EBITDA* 7% ROCE1 $750mm Revenue# 16% Normalized EBITDA* Margin $119mm Normalized EBITDA* 19% ROCE1 …Dri

19%

ed EBITDA* 7% ROCE1 $750mm Revenue# 16% Normalized EBITDA* Margin $119mm Normalized EBITDA* 19% ROCE1 …Driven by Strong, Sustainable Profitability Widening of the Product Portfolio Operationa

“These are based on certain assumptions as on date and are subject to significant risks and uncertainties, as they could be substantially influenced by several factors which are beyond Company’s control including, but not limited to, fluctuations in foreign exchange rates, changes in key raw material prices, changes in market dynamics, impact of consolidation of subsidiaries and any unexpected production down times due to machinery breakdown, unforeseen delays in project start up etc.”

Factors impacting YoY

2

Note

1

Factors impacting YoY

• Lower sales revenue due to fall in selling prices resulting from decline in raw material cost as well as decline in margins due to softer market conditions • Higher fixed costs – primarily utilities costs and impact of • inflation In Q3 22-23, there is an unrealized FX loss of INR 98.61 crores ($ 12.01 million) as against unrealized FX gain of INR 39.31 crores ($ 4.93 million) in Q2 22-23 on account of restatement of foreign currency long term loans, thus impacting the PAT and EPS significantly • Higher volumes are on account of startup of BOPP line in Indonesia, thus resulting in higher revenues • • Higher Raw Material cost in Q3 22-23 along with higher fixed costs (mainly utilities cost) and softer market conditions have resulted in lower EBITDA In Q3 22-23, there is an unrealized FX loss of INR 98.61 crores ($ 12.01 million) as against unrealized FX gain of INR 65.39 crores ($ 8.73 million) in Q3 21-22 on account of restatement of foreign currency long term loans, thus impacting t

Factors impacting YoY

• Higher volumes on account of startup of BOPP line in Indonesia • Higher Revenue due to: • Higher volumes • Rise in sales price of BOPET film on account of higher RM cost The above impact was partially offset by fall in BOPP film prices • Softer market condition and higher fixed costs have impacted the margins. However higher volumes, improving specialty mix and • downstream operations have helped offset some of the impact In YTD 22-23, there is an unrealized FX loss of INR 29.10 crores ($ 3.65 million) as against unrealized FX gain of INR 23.09 crores ($ 3.11 million) in YTD 21-22 on account of restatement of foreign currency long term loans, thus impacting the PAT and EPS significantly 10 EBITDA Evolution Normalized EBITDA Bridge (Q3 22-23 vs Q2 22-23) 1.3 4.6 2.9 10.4 0.4 3.3 3.2 n o i l l i m D S U 36.2 34.8 30.2 27.3 27.3 37.7 34.8 31.6 31.6 Normalised EBITDA - Q2 22- 23 Volume VA variance (Thin PET & OPP) Rate VA variance (Thin PET & OPP) Other Film & Chips Contribution Consolid

Note

Polyplex CUF is calculated based on the extant capacity; Industry CUF as per CY, Polyplex CUF as per FY; Industry CUF is based on internal estimates; Expected Global CUF of the Industry will decline in CY22 as per demand supply estimates *CUF for the Industry may be even lower as the apparent demand has been impacted by destocking 31 5 Sustained and Profitable Growth (1/3) Strong Growth Healthy Profit Margins Steady Cash Flow Generation Robust Balance Sheet Sales Volume Across All Films (KMT) EBITDA ($mm) and EBITDA Margin (%) & $/kg 8% 12% 6% 12% 18% 0.45 21% 0.49 26% 0.56 21% 0.57 253 274 306 323 272 115 133 171 186 16% 0.44 119 FY19 FY20 FY21 FY22 Sales Volume (KMT) Growth % YTD Q3 FY23 Annualised FY19 FY20 FY21 FY22 EBITDA ($mm) Margin % YTD Q3 FY23 Annualised EBITDA ($/kg) Cash Flow from Operations1 ($mm) Capex ($mm) & Net Debt ($mm) 105 84 123 109 160 170 149 76 98 78 (57) 53 (66) 67 (75) 71 (38) 54 (53) 26 FY19 FY20 FY21 FY22 YTD Q3 FY23 FY19 FY20 FY21 FY22 YTD Q3 FY23 Cash Flow