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SENSEX: 39058.83 94.99

NIFTY: 11604.10 15.75

Multi Baggers

Ambareesh Baliga

Karvy Stock Broking

12.00 AM Jun 16th 2006

Polyplex Corp

BSE ID : 524051     NSE ID : POLYPLEX

RECOMMENDED PRICE 46.00

PEAK FROM RECO 667.75 1,351.63%

CURRENT PRICE 482.80 949.57%

Polyplex Corporation is expected to perform better over the next two years and thereby maintain 'BUY' rating on the stock with a price target of Rs 200



At the current market price of Rs 92, Polyplex Corporation is trading at 2.6x its FY07E EPS of Rs 35.6 and 1.8x its FY08E EPS of Rs 49.9. The stock has an attractive dividend yield of 4.3%. The industry is going through a downturn and we expect the situation to improve moving forward. With capacity expansion coming ahead and the industry expected to show improvement we expect the company to perform better over the next two years and thereby maintain our BUY rating on the stock with a price target of Rs 200.

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