Third Quarter FY 20-21

Financial Results & Summary

Polyplex Corporation Limited (PCL)

February 10, 2021

 Polyplex At a Glance
Years
33
High level of expertise, especially in PET Film production, with
Of Experience in-house R&D continuously seeking to provide innovative
in Plastic Films solution to customers

#1 In BOPET Film
Production in SEA
The preferred provider across regions

#6 Global
BOPET Thin Film provider
Large capacity with consistently

higher than industry’s capacity

utilization

75 Countries
Reached with ~ 1,800
Customers
Wide global reach with strong

Network of customers

!2
 India Rating & Research
Polyplex: At a Glance 2020 : IND AA- (Stable Outlook)

Q3 20-21 Highlights YTD 20-21 Highlights

1,234 Cr +1% +14% 3,612 Cr +10%
Sales Revenue# QoQ YoY Sales Revenue# YoY

343 Cr +2% +45% 980 Cr +41%

Normalized EBITDA* Normalized EBITDA*
(28% EBITDA Margin) 28bps 605bps (27% EBITDA Margin) 591bps
QoQ YoY YoY
# Excludes other operating revenues
* Normalised EBITDA: EBITDA excluding impact of unrealised FX gains / (losses) on long term loans

Business Mix (YTD 20-21) Polyplex Group Structure^

7% 100%
PE (Turkey)
27%
19%
America
51% 100%
Europe
Other Asia
PCL (India)* PTL (Thailand) PU (USA)
India
RoW 100%
21% PFI (Indonesia)
26%
* Including Holding of Singapore WOS
^ Covers only major manufacturing entities

!3
 2019 2022
TMP in Bazpur New PET Film line
in USA
Polyplex Journey so far: Ability to identify & capitalise on opportunities Started manufacturing
in Indonesia
2014 Expansion of Holography
Started Offline business in Khatima
Chemical Coated
operations in Turkey
2012 & Bazpur
First Silicon
2008 Coating line in
First Extrusion Coating Thailand 2021
Line in Thailand New BOPP film
Expanded Thin PET 2018 line in Indonesia
2005 Film in Turkey Expansion of
Started holography
First Thin PET film operations in Khatima recycling unit in
line in Turkey Expansion of Blown Thailand
2003 2013
Film line in Thailand Expansion of Blown
First & Second Started
Thin PET film line PP film line
manufacturing in
1996/1997 in Thailand Decatur, USA
Thailand & Turkey
2010
First Resin plant and Batch Resin in
First BOPP & new PET Thick PET film line
Expansion of Thin PET Turkey & Thailand
film line in Bazpur along with Resin
film line capacity in Khatima 2006
CPP line in Thailand capacity & Blown New Offline Coating
Acquisition of
film line in Thailand line in Turkey
Spectrum Marketing
Inc. for warehousing &
distribution of Expanded Extrusion
2004 Polyplex products in Coating operations Coming Soon
USA in Thailand
Public listing of PTL
2002 Resin capacity in First Silicon Recycling plant in
First Metallizer in Thailand Coating line in Khatima Thailand - Ecoblue
1988 Khatima Ltd.
Resin capacity in
Public listing of PCL Turkey
First Thin PET film line
in Khatima

!4
Success Enablers

Global leadership position with industry leading scale & cost

Strong financial & operational track record

Continuous and high growth in demand

Stable earning across business cycles

Stable & proven Management team

!5
Global leadership position with industry leading scale & cost

!6
Global Leadership
Unique model of on-shore, off-shore and near-shore manufacturing Preferred strategic partner in flexible
packaging - the largest and fastest growing
segment in PET film
500
Global #6 in Thin PET Film*

375 Polyplex

By Capacity
(KMTPA)
Netherlands
Korea 250

USA Japan
Turkey
Mexico India 125
Thailand
Singapore
0

Hengli Group
Color Plastic New Materials

Uflex Industries

SRF Polyester

Jindal Poly Films Ltd

Jiangsu Sanfangxiang

Mitsubishi Polyester

Billion Industrial
Toray Advanced
Indonesia

Holdings Ltd
Film Co. Ltd
Jiangsu Shuangxing

Group Co. Ltd

Films
6 Manufacturing

Facilities

In 5 Countries
Group Manufacturing Locations
Warehouses
*Including all capacity started till now

Global footprint providing

with Multiple Warehouses & Liaison Offices Worldwide Trading Company/Representative Office
customers a low-risk, reliable and
cost effective supply chain

!7
Global Presence & Portfolio
Operating company-wise breakup of sales Business segment-wise breakup of sales
YTD 20-21 YTD 20-21

2%
3% 2%
3%
9% 4%
26% 6%

18% 8%

13% 62%

24%
20%

Thin PET Film Coated Film

Polyplex USA Polyplex India OPP Thick PET Film
Polyplex Thailand Polyplex Turkey CPP/Blown PP Chips
Polyplex Indonesia Other operations (EB, PEBV, PAPL) Other sales Other Speciality (TMP, Holo, Saraprint)

!8
Industry leading scale & vertical integration
Resin* Base Films* Value Added Films*

PET Film Resin Recycled Resin# PET Thin PET Thick BOPP CPP Blown PP Metallized Holography Coated TMP
(MT) (MT) (MT) (MT) (MT) (MT) (MT) (MT) (MT) (Million SQM) (Million SQM)

0 0
7
55,000 35,000 3, 4,080 257 83
India 77,600 33,600

0
0

0
42,000 8
,55

,60
28,800 10,000 13,645 21,700 4 985
480
25

40

Thailand 80,500 20,000

9 2

0
58,000 3 17,700 480

18
4,
75,850 140
Turkey
0 0
,0
0

0
,40

5 9,250
28

USA 57,600 31,000

0 0
44,000 000 2 ,0
60, 1
Indonesia 73,000 6,000

Polyplex
418,500 60,600 280,000 28,800 95,000 10,000 18,037 103,950 5,520 1,562 83
Group

Total Resin Capacity (incl. new upcoming capacities) = 479,100 (in MT per annum) *Including New Upcoming Capacities
Total Base Films Capacity (incl. new upcoming capacities) = 431,837 (in MT per annum) # In Ecoblue, Thailand

!9
Industry leading cost structure
Polyplex CUF vs Industry (Thin PET Film)

Enhancing Operational
Excellence
2,25,100
99% 100% 101% 110% Industry leader with near 100%
90% 91%
95% Capacity Utilization through
• Implementing Kaizens to
business cycles
improve productivity and
1,68,825 83%
business processes

82% 82%
76% • Globally one of the lowest cost
• Debottlenecking of existing
70% 72% manufacturers, driven by scale
assets to expand capacity
69%
1,12,550 55% economies, operational excellence,
2,03,481 vertical integration and strategic
• Reducing wastage and
1,76,742 1,84,300 1,74,054
conserve energy
1,67,379 1,68,870 manufacturing locations.

• Investing in new high 56,275 28% • Favorable tax regime

productivity lines

• Low cost of delivery due to

• Cross-learning and sharing distributed manufacturing location
best practices/benchmarking 0 0% of plants
across business line
2015 2016 2017 2018 2019 2020

• Investing in Human Resources 15-16 16-17 17-18 18-19 19-20 YTD 20-21

Annualised

Polyplex Production (MT) Polyplex Capacity Utilization (%)

Industry Capacity Utilization (%)

Note:
• Industry CUF as per CY, Polyplex CUF as per FY
• Industry CUF for 2020 is based on internal estimates

!10
Strong financial & operational track record

!11
Q3 20-21 Performance Snapshot
QoQ Growth YoY Growth
(Q3 20-21 v/s Q2 20-21) (Q3 20-21 v/s Q3 19-20)
Sales Volume
3% 18%
(All Films) 80,283 MT

Sales Revenue#
1% 14%
1,234 INR Crores

Normalized EBITDA*
2% 45%
343 INR Crores

PAT (Before Minority)

120% 81%
225 INR Crores

EPS 41.84 INR/Share 72% 89%

Factors impacting reported PAT & EPS for Q3 FY 20-21 v/s previous quarter (Q2 FY 20-21)
Unrealised FX gain of INR 0.11 crores in Q3 FY 20-21 as against unrealised FX loss of INR 143.65 crores in Q2 FY 20-21 on account of re-statement of foreign currency long term loans

# Excludes other operating revenues

* Normalised EBITDA: EBITDA excluding impact of unrealised FX gains / (losses) on long term loans

!12
YTD 20-21 Performance Snapshot
YTD Growth
(YTD 20-21 v/s YTD 19-20)
Sales Volume
15%
(All Films) 228,332 MT

Sales Revenue#
10%
3,612 INR Crores

Normalized EBITDA*
41%
980 INR Crores

PAT (Before Minority)

39%
657 INR Crores

EPS^ 122.65 INR/Share 51%

# Excludes other operating revenues

* Normalised EBITDA: EBITDA excluding impact of unrealised FX gains / (losses) on long term loans
^ EPS is computed based on daily weighted average no. of shares in YTD 20-21

!13
Thin PET Film - Trend
Thin PET Film* Sales Volume (MT) Ex-Factory Price - Thin PET Film* (USD/Kg)
Value Addition** - Thin PET Film* (USD/Kg)

2.26
2,27,072 2.04
1.97
Q3 1.88 1.85
1.77
58,724

1,98,056 Q2 1.15
1,70,456 1,78,782 1.04 1.02 1.04 1.04
57,068 0.93

Q1
54,512

17-18 18-19 19-20 YTD 20-21

17-18 18-19 19-20 Q1 20-21 Q2 20-21 Q3 20-21
Annualised

* Includes :
- film transferred to Silicon Coating & Extrusion Coating lines but excludes sales of final product from these lines
- volume of value added films - Metallized, Holography, General purpose offline coated, Transfer Metallized Paper (TMP)
** Over Raw Material

!14
 EBITDA
Normalised EBITDA* - Trend Normalised EBITDA* (Q3 20-21 vs Q2 20-21)
1,310 1,306

17 1 2
16 4 26
983 350 367 368 370 343
337 337 343
INR Crores

Q3

INR Crores
655 343

944 Q2
801 337
328 588
Q1
299
EBITDA Volume VA Rate VA Other Film & Other Fixed Cost Other EBITDA
17-18 18-19 19-20 YTD 20-21
Q2 20-21 variance variance Chips Operation Variable Cost Operational Income Q3 20-21
Annualised (Thin PET & OPP) (Thin PET & OPP)

Reported EBITDA % v/s Normalised EBITDA % - Trend

27%
28%

24% 26%
21%
18% 19%
19%
16% 20%
15% 19%
14%
15% 17%
15%
10% 12%
15-16 16-17 17-18 18-19 19-20 YTD 20-21
Reported EBITDA % to Sales Normalized EBITDA % to Sales
Long term weighted average EBITDA %
✤ Reported EBITDA is fluctuating due to impact of FX movement on restatement of long term FX loans
✤ Eliminating the restatement impact (Normalised EBITDA), EBITDA margins are continuously improving YoY basis
✤ Long term average (almost same for both Reported & Normalized EBITDA) shows that the differences are evened out as exchange rates moves up and down

* Normalised EBITDA: EBITDA excluding impact of unrealised FX gains/(losses) on long term loans
Strong Financial Performance
Sales Revenue* (INR Crores) Operating Cash Flow Deployment Trend (INR Crores)

4,816 21
37
261

Q3
1,234 36
4,545 4,465 Q2 74 32
3,551 236
1,223
Q1
209 255
1,155
17-18 18-19 19-20 YTD 20-21

Annualised
* Excludes other operating revenues 199

Effective Tax Rate (Tax/PBT) 472

79 370 341
16.50%

137
11.41%
9.01% -77 -75
9.89% 7.15%
Q3
6.37% 5.93%
5.67%
17-18 18-19 19-20 YTD 20-21 17-18 18-19 19-20 YTD 20-21
Current tax adjusted for tax on inter company dividend & buyback Capex Dividend Paid BuyBack of shares (incl. Tax)
Current tax (unadjusted) Net Repayment/ (Borrowings) Surplus / (Deficit)

PBT - Adjusted for Exceptional Items

Tax - Current tax for the period (excluding any DTL/DTA movements)

!16
Strong Liquidity
Despite major Capex, D/E net cash
positive due to generation of
500 472 4
robust free cash flow from
operations 370
375 341 3

250 2
137
125 1
0 0 0 0

17-18 18-19 19-20 YTD 20-21

Net Debt/Equity (times) Capex (INR Crores)

Cash & Debt Position as on 31st Dec 2020

INR Crores

1,573

1,019
734
554 592
143
Polyplex Corporation Limited & Polyplex (Asia) Pte. Ltd* Polyplex (Thailand) Public Co. Ltd. & Subsidiaries Polyplex Corporation Limited (Consolidated)

Cash & Cash equivalents # Debt (Long Term + Short Term)

* Polyplex (Asia) Pte. Ltd. (Singapore) is 100% owned by Polyplex Corporation Limited
# Including current & non current Investment in FD’s, Bonds & Mutual funds

!17
Strong Financial Performance
EPS^ (INR/Share) Dividend
Div Per Share (INR/Share) Div Yield %* 23.62%
147

163.53
Q3 41.84 132
10.17%
8.22%
Q2 24.37 51

103.19
88.18 31 3.45%
40

Q1 56.26 30
49.85 17

10 20 17 15

17-18 18-19 19-20 YTD 20-21

17-18 18-19 19-20 YTD 20-21
Annualised
* Average stock price for the period has been considered for calculating Div Yield
^ EPS is computed based on daily weighted average no. of shares
Normal Dividend
Special Dividend
ROCE ROE
26% 26%
23%
21%
18% 16%
13%
12% 19% 18%
16% 16%
14% 12%
8% 8%

17-18 18-19 19-20 YTD 20-21 17-18 18-19 19-20 YTD 20-21

ROCE (With Cash & Cash Equivalents) ROE (With Cash & Cash Equivalents)
ROCE (Excluding Cash & Cash Equivalents) ROE (Excluding Cash & Cash Equivalents)

• ROCE (%) = EBIT as a % to average capital employed

• ROE (%) = PAT as a % to average equity

!18
 Total Shareholder’s Return

1,615 Since
3,400 1,620 Last 1 Last 3 Last 5
1,408 Shareholder’s Return IPO
year years years
(1988)
1,236
2,550 1,117 1,215 (A) Total Returns*
1,064
980 952
INR Crores

916
850 - Polyplex 29% 21% 31% 22%
781

INR
1,700 717 703 810 - Nifty 500 - TRI 14% 6% 14% 12%

- BSE Small Cap - TRI 22% -1% 12% 13%

850 405
(B) Stock Price Movement

2,321 2,302 2,548 2,771 3,029 3,302 - Polyplex 20% 11% 23% 14%
2015-16 2016-17 2017-18 2018-19 2019-20 YTD 2020-21 - Nifty 500 13% 5% 12% 11%

Shareholder's Fund (after adjusting for minority) - INR Crores - BSE Small Cap 21% -2% 11% 12%
Book Value/Share (before minority adjustment)
Book Value/Share (after minority adjustment) * Dividend Reinvestment Method

Note:

• Dividend considered based on the payout dates

• The returns have been calculated based on the stock price data till 31st Jan 2021

!19
Awards
Thai subsidiary PTL won the Money & Banking Awards 2020 in the
‘Best Public Company’ Category

!20
Fourth Quarter 20-21 Guidance

287

337 343
299
242 217 236 248

Normalised EBITDA (INR Crores)

Q1 19-20 Q2 19-20 Q3 19-20 Q4 19-20 Q1 20-21 Q2 20-21 Q3 20-21 Q4 20-21

The forward-looking statements reflect Polyplex’s expectations of its next quarter earnings. 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. The Company does not make any representation,
warranty or prediction that the results anticipated by such forward-looking statements will actually be achieved.

!21
Continuous and high growth in demand

!22
Global Demand Growth
6,000
Retail format &

4,500 E-commerce
Increasing

Improved

Environmental

3,000
5,219 5,555 Quality of Life
4,615 4,906 Awareness
3,938 4,091 4,344 PRIMARY
1,500
GROWTH
Increasing
DRIVERS Population

2018 2019 2020 2021F 2022F 2023F 2024F Consumerism Growth

Global Thin PET Demand Growth (KMTPA)
Urbanization

• Demand growing at 5-7% due to design versatility, cost advantage, resource economy, low carbon footprint, cost advantage
and retail format/packaging innovations
• Versatility and high performance of polyester film leads itself to a wide range of 100+ applications in both industrial & consumer
staples and consumer discretionary sector.
• Newer applications like healthcare could result in new stream of sustainable demand growth

!23
Continuous Growth
Polyplex growth more that the average market growth rate Capacity is in ‘000 MT

1100 1,065
Capacity CAGR 11% 986

880 863
827

642 652 666

660 618 629 635

440 448 455

440

287
220

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Base Film Resins (incl. Recycled) Metallised Film (incl. Holo & TMP) Coating

!24
Stable earning across business cycles

!25
Value Chain
NATURAL BASIC RAW PLASTIC & INTERMEDIATE
RESOURCES PETROCHEMICALS MATERIALS PRODUCTS

Ethylene MEG Packaging & Industrial

Customers
Film

Grade

PET

Coating
Natural Gas Resin

Paraxylene PTA Base Films Metallizing

Transfer

Polypropylene/

PP/PE Resin Holography Metallized

Polyethylene Paper

Oil
Paper Polyplex’s Area of operation

!26
Polyplex Example of Product Applications & Industry
By Customer’s Industry
60% Food 40% Non-Food
Personal Care -
Food Label
Health & Hygiene
73% Packaging

Healthcare Products
Retrot Pouch Susceptor Film Easy Peeling Lids
Product Labels

Wafer Bag Rice bags Liquid Packaging

Electrical Optical Label Other

27% Industrial
& Electrical

Window Film Cards Lamination

Solar Panel Wire and Cable
Back sheets over wrap
Plastic Optical Fibre Barcode Labels

Flexible circuits Adhesive tapes

!27
Strong R&D Capability

A separate R&D department 15 dedicated personnel in Focus on providing innovative

registered with the Corporate R&D supplemented by solutions to customers.

local technical service and R&D

Department of Scientific and Collaborative Research with
team having significant experience
Industrial Research (DSIR), in chemicals, coatings, resin, govt. labs and educational
Ministry of Science and customer process and relevant institutes

Technology (India) fields

No. of Patents granted - 20 (Across products, processes & countries)

No. of Trademarks granted - 6 (Across brands and countries)

!28
VA Stability PCL VA v/s China VA v/s Crude
75 75
69 69
63 63
Stable VA despite crude price volatility
62

50

$/Barrel
43 44
1.17
$/Kg

1.12
0.98 0.98 1.02 0.99 1.02 1.00 1.02
0.91 0.93 0.93 30

0.72 0.75
0.68 0.70
0.61 0.65
0.56 0.60
0.54 0.50

Q1 18-19 Q2 18-19 Q3 18-19 Q4 18-19 Q1 19-20 Q2 19-20 Q3 19-20 Q4 19-20 Q1 20-21 Q2 20-21 Q3 20-21

China VA - $/Kg PCL VA (Consol-all films)-$/Kg Crude Oil - $/Barrel

- China VA in Q3 20-21 is an aberration as demand for PET film suddenly spiked since early October due to pent-up downstream demand arising out of impact of Covid
further compounded by low inventory in the pipeline.
1,300
- Polyplex - lag effect due to monthly/quarterly pricing v/s spot pricing in China

Speciality Film Share in Turnover

975
80%

INR Crores
60% 650 1,306
Increasing contribution from
40% 76% 944 980
72% 68% 67% 67% Speciality Films helps sustain
325
20% superior margins
28% 32% 33% 33% 387
24% 317 290

16-17 17-18 18-19 19-20# YTD 20-21# YTD 20-21

19-20
Speciality Film Essentials Annualised
Incremental EBITDA from Speciality Films
# Though in absolute terms the volume of Speciality film has increased but % share Total Normalised EBITDA (incl. Speciality Films)
remains the same/slightly increased due to the impact of new film line in Indonesia (almost 100% essentials)

!29
Grow Sustainable Business Line
Introduce Sustainable Products and Adopt Sustainable Process
To response to global concern over plastic use and develop sustainable business, Polyplex aims to continue introducing sustainable
plastic products and transform the business process to be more environmentally friendly.
Sustainable Products & Solutions Sustainable Process
Introduce Mono-material, Mono-layer Structure Adopt Sustainable Processes to enforce
and Higher Recyclable Content Products circular economy
Example of products: • RPET - with up to 90% PCR content
• Collaborate with recyclers
• Reduce water and energy consumption in Europe to recycle
• BioPET - Bio content 30%
Multi Layer Plastics (MLPs)
Plastic Free Carton - Use of Transfer Metallisation
• Effective & Efficient waste management
for Paper & Board Lamination • Support development and
• Increase usage of renewal energy modernization of plastic
Biodegradable films - meeting the requirements of anaerobic
waste management
Biodegradation either in accelerated land fill or high solids
• Increase sustainable sourcing i.e.
infrastructure (Collection,
Anaerobic conditions Use recycled material
Segregation and Recycling)
Down-guaging 8-10 micron Use biomaterials (MEG)
• Play a leadership role in
Introduce Post-Consumer/Industrial Plastic Recycling engaging the industry
Business Line in sustainability efforts
ECOBLUE’s New upcoming state-of-art recycling
line dedicated for hard to recycle materials

Benefits
Increase Product
Enhance Business
Reduce Industrial
Minimize Usage of Fossil

Variety Sustainability and

Process Waste Fuels Consumption in

Support Circular Economy Production

!30
Polyplex & Sustainability
Ecoblue Limited, Thailand provides sustainable solutions for the packaging and apparel industry
• US FDA & GRS approved 3D Pure rPET resin for bottle, film and polyester yarn applications

• New state of the art facility being setup to provide complete solution for recycled PET, PP and PE materials

• Pioneers in recycling of hard-to-recycle materials like coated films, laminates & fibre waste with oils
Circularity Through Responsible Recycling

!31
Industry Outlook
OUTLOOK Expected Total Capacity in the Industry
• Approx.1.67 Million Tons of Capacity (more than 64% in China) to be further added in Thin PET BOPET Thin Film
by 2023 globally
Unit:KMT
• Changing cost dynamics may result in closure/underutilization of older lines

• Constant up-gradation in technology (10.6 mtr wide line) to remain a challenge for industry CA GR*
+6.2%
players stuck with mostly legacy assets for standard films

• Raw Material Price Outlook: Crude Oil prices have recovered from post Covid lows - expected
to remain range bound

7,080 7,124
• Sharp spike in export freight rates since Oct’20 expected to continue into most of 2021 before 6,515
5,285 5,750
normalising gradually
4,967 5,037
• Trend towards De Globalisation, Protectionism and preference for local & regional Suppliers

• Concerns around Sustainability - usefulness of plastics (incl. SUPs) in focus during on-going
Covid crisis
2018 2019 2020 2021F 2022F 2023F 2024F
* Against Industry demand growth of 5-7% p.a
POLYPLEX- STRENGTHS
• Leverage our local presence in various geographies-Quick turnaround, • Competitive cost structure (on DDP basis) helps sustain competitive
urgent delivery, onshore and near-shore services, customer advantage

relationship and intimacy

• Pricing is a function of demand/supply-effect of crude is limited as RM
• Focus on speciality and high value added products thus making Prices are passed through to customers with a varying lag

earnings more predictable

• Tax Efficient Structure

• Likely impact on margins to be made up by contribution from new • Ongoing Capex on various line upgrades to enable optimal utilisation of
capacities and improvement in product portfolio assets.

!32
Growth Plans
Capital Cost Benefits related to on-going Other Projects:
Projects Location Likely Start Up
(In USD million)
1.Expansion of product portfolio

Brownfield - BOPP Indonesia 53 H1 FY 21-22

Brownfield - BOPET USA 83 H2 FY 22-23 2.De-bottlenecking of existing film lines

Other Projects India 3 Upto Q3 FY 21-22 3.Increasing the share of speciality films

Other Projects Overseas 56 Upto Q4 FY 21-22

4.Recycling Project - additional step towards sustainability
Total 195
Note:
Includes Post Consumer Bottle Recycling Project (Ecoblue, Thailand)
In addition to the above, normal maintenance Capex in the range of USD 6-7 million

Brownfield BOPP Project (Indonesia) Brownfield BOPET Project (US)

10.4 Meter Line - 60 KTPA Film Capacity, 5 layer machine with inline coating
10.6 Meter Line - 50 KTPA Film Capacity, 650 mpm design speed

Capex: 53 Million USD Resin plant de-bottlenecking - increase in capacity from 58 KTPA to 86 KTPA

✴Board Approved June’19 ✴25 Million USD funding confirmed Capex: 83 Million USD

✴Estimated Date of Start Up H1 FY 2021-22 ✴Board Approved Sep’20 ✴Estimated Date of Start Up H2 FY 2022-23

Brownfield BOPET Project:

• This expansion would help tap into the growing shift towards local
supply in regional markets and to pull market share away from imports

• Move towards market leadership position in the USA with reduction in

! 3
3 overall unit cost significantly
Brownfield BOPP Project:
• Expansion in BOPP segment will enable the Company broaden its
product offering in the regional markets and also help mitigate certain
risks on the sustainability front
Annexures
Contents
• Shareholding Pattern
• Group Structure

!34
Shareholding 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 31st Dec’20) is as below:

PCL Shareholding PTL Shareholding

35.38% 36.53%
Promoter Promoter
50.97% Institutions 51.00% Institutions
Non-Institutions Non-Institutions

13.65% 12.47%

!35
Group Structure
100% 17.19% Public/Institutional Shareholder
Polyplex Corporation Limited

49%

33.81%
Polyplex (Asia) Pte. Ltd Polyplex (Thailand) Public Co. Ltd.

100%
66.50% 100% 100% 100%

PAR LLC
Eco Blue Ltd Polyplex America Holdings Inc. Polyplex (Singapore) Pte. Ltd. Polyplex Europa B.V.

100%
33.50%
100%
Private Investor Polyplex USA LLC PT. Polyplex Films Indonesia
100%

Polyplex Europa Polyester Film Sanayi Ve Ticaret Anonim Sirketi

Investment and Trading & Distribution

Provision of Shared Services 100%
Outside Interest
Polyplex Paketleme Cozumleri Sanayi Ve Ticaret Anonim Sirketi
Investment Company
Manufacturing Company
Trading & Distribution

Note: Polyplex Trading (Shenzhen) Co. Ltd (PTSL), China which was engaged in trading & distribution has been liquidated in June 2020

!36
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 factors, some of which maybe beyond our control. No assurance is given with regard to
future events or the actual results, which may differ materially from those projected herein.

• This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell
PCL stock and in no event shall the Company be held responsible or liable for any damages or
lost opportunities resulting from use of this material.

• Numbers for previous periods may have been regrouped/rearranged/reworked for comparison
purpose and for better analysis.

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 Thank You
Polyplex Corporation Limited
B-37, Sector-1, NOIDA
Distt. Gautam Budh Nagar
Uttar Pradesh-201 301
Board:+91.120.2443716-19
Symbol : POLYPLEX Fax:+91.120.2443723 & 24 Symbol : PTL
ISIN : INE633B01018

Polyplex India Polyplex Thailand

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Glossary
• EBITDA: Earning before interest, tax, depreciation and amortisation

• PCL: Polyplex Corporation Limited

• PTL: Polyplex (Thailand) Public Company Limited

• PE: Polyplex Europa Polyester Film Sanayi Ve Ticaret Anonim Sirketi

• PU: Polyplex USA LLC

• PFI: PT Polyplex Films Indonesia

• WOS: Wholly Owned Subsidiary

• RoW: Rest of the World

• PET: Polyethylene Terephthalate

• BOPP: Biaxially Oriented Polypropylene

• CPP: Cast Polypropylene

• TMP: Transfer Metallized Paper

• TRI: Total Return Index

• VA: Value Addition

• DDP: Delivered Duty Paid

• MEG: Mono Ethylene Glycol

• PTA: Purified Terephthalic Acid

• RM: Raw Material

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