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 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circula

4%

ly Integrated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circular

5%

ntegrated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circular Econ

7%

rated Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circular Economy

13%

d Upstream and Downstream Capabilities Product Breakdown (YTD Q3 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circular Economy ~2,

16%

stream and Downstream Capabilities Product Breakdown (YTD Q3 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circular Economy ~2,660 C

52%

m and Downstream Capabilities Product Breakdown (YTD Q3 FY24 Revenues) 3% 4% 5% 7% 13% 16% 52% 35 Years of Operation At the Forefront of Sustainability and Circular Economy ~2,660 Custom

100%

g” process for manufacturing Sarafil rPET film with Post- Consumer Recycled (PCR) content up to 100% and increased product applications in both packaging and industrial end uses Investments in re

8%

FY 23-24) (YTD Q3 FY 23-24) India Rating & Research IND AA- (Positive Outlook) $179mn Revenue# 8% Normalized EBITDA* Margin $15mn Normalized EBITDA* 4% ROCE1 $559mn Revenue# 8% Normalized EB

80,992 MT

h (Q3 FY 23-24 v/s Q2 FY 23-24) YoY Growth (Q3 FY 23-24 v/s Q3 FY 22-23) Sales Volume (All Films) 80,992 MT Sales Revenue 1,493 INR Crores ($ 179 million) Normalized EBITDA 123 INR Crores ($ 15 million) P

179 million

Q3 FY 23-24 v/s Q3 FY 22-23) Sales Volume (All Films) 80,992 MT Sales Revenue 1,493 INR Crores ($ 179 million) Normalized EBITDA 123 INR Crores ($ 15 million) PAT (Before Minority) 17 INR Crores ($ 2 million

“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

2

Factors impacting YoY

• Softer demand coupled with maintenance shutdown in one of the film lines has • Lower sales revenue due to lower volume and fall in selling prices resulted in lower sales volume leading to lower revenue. The impact was resulting from weaker market conditions. partly offset by increasing share of specialty mix and downstream businesses • In Q3 23-24, there is an unrealized FX loss of INR 29.29 crores ($ • In Q3 23-24, there is an unrealized FX loss of INR 29.29 crores ($ 3.52 3.52 million) as against an unrealized FX loss of INR 98.61 crores ($ million) as against an unrealized FX gain of INR 8.57 crores ($ 1.04 million) in 12.01 million) in Q3 22-23, on account of restatement of foreign Q2 23-24, on account of restatement of foreign currency long term loans currency long term loans almost all of which relates to Inter-company almost all of which relates to Inter-company loans. loans. 9 YTD Q3 FY 23-24 Performance Snapshot YoY Growth (YTD Q3 FY 23-24 v/s YTD Q3 FY 22-23) Sales Volume (

Factors impacting YoY

-8% -23% -61% -91% -91% • Lower sales revenue due to lower volume and fall in selling prices partly resulting from lower raw material cost • Higher fixed cost is on account of higher selling, administrative and manpower costs offset by lower • utilities cost In YTD Q3 23-24, there is an unrealized FX loss of INR 56.06 crores ($ 6.78 million) as against an unrealized FX loss of INR 29.10 crores ($ 3.65 million) in YTD Q3 22-23, on account of restatement of foreign currency long term loans almost all of which relates to Inter-company loans. 10 EBITDA Evolution Normalized EBITDA Bridge (Q3 23-24 vs Q2 23-24) 2.6 n o i l l i m D S U 16.3 0.6 0.2 0.3 0.2 1.1 13.7 13.7 14.1 13.9 13.7 13.7 14.8 Normalised EBITDA - Q2 23-24 Volume VA variance (Thin PET & OPP) Rate VA variance (Thin PET & OPP) Other Film & Chips Contribution Other Variable Cost Fixed Cost Other Income Normalised EBITDA - Q3 23-24 • Lower volumes during the quarter especially in Thin BOPET and BOPP film segment • Positive rate v

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; 31 5 Sustained and Profitable Growth (1/3) Sales Volume Across All Films (KMT) EBITDA ($mm) and EBITDA Margin (%) & $/kg 12% 6% 11% -8% 21% 0.49 26% 0.56 21% 0.57 274 306 323 360 249 133 171 186 8% 0.18 14% 0.37 132 FY20 FY21 FY22 FY23 Sales Volume (KMT) Growth % YTD Q3 FY24 Annualised FY20 FY21 FY22 FY23 45 YTD Q3 FY24 Annualised EBITDA ($mm) Margin % EBITDA ($/kg) Cash Flow from Operations1 ($mm) Capex ($mm) & Net Debt ($mm) 124 110 161 170 150 77 110 103 37 48 (66) 67 (75) 71 (38) 54 (57) (51) 34 44 FY20 FY21 FY22 FY23 YTD Q3 FY24 FY20 FY21 FY22 FY23 YTD Q3 FY24 Cash Flow after change in NWC ($mm) Change in NWC ($mm) + Denotes deployment - Denotes release Capex ($mm) Net Debt ($mm) 32 Note: 1 Cash flow from operations have been adjusted for tax on inter-company dividend and interest 5 Sustained and Profitable Growth (2/3) Revenue (USD

Note

* Current tax adjusted for tax on intercompany dividend and interest as the corresponding income gets eliminated at Consolidated level #Translated using simple average of monthly exchange rates for the respective applicable period(s) 33 5 Sustained and Profitable Growth (3/3) EPS (INR/Share) Dividend Per Share (INR/Share) 103.19 88.18 162.57 181.19 110.97 FY19 FY20 FY21 FY22 FY23 9.37 YTD Q3 FY24 17 FY20 132 32 FY21 68 36 65 23 FY22 FY23 2 YTD Q3 FY24 Normal Dividend Special Dividend Normalized1 ROCE 26% 25% 19% 20% 21% 16% 15% 12% 4% 3% 16% 12% ROE 25% 25% 18% 19% 14% 11% 2% 1% FY20 FY21 FY22 FY23 YTD Q3 FY24 FY20 FY21 FY22 FY23 YTD Q3 FY24 Normalized ROCE (With Cash & Cash Equivalents) Normalized ROCE (Excluding Cash & Cash Equivalents) ROE (With Cash & Cash Equivalents) ROE (Excluding Cash & Cash Equivalents) 34 1Normalized ROCE = Normalized EBIT [excluding impact of unrealized FX gains/(losses)] as % of Average Capital Employed 6 Polyplex’s Commitment to Sustainable Development & G