Polyplex Corporation announced that India Ratings and Research (Ind-Ra) has upgraded Company's Rating as follow:

a) Long-term loans for Rs 150 crore - IND AA-/Stable, upgraded;
b) Fund-based working capital limits (Long-term and Short term) for Rs 202 crore -IND AA-/Stable/IND A 1+, Long-term rating upgraded; short-term rating affirmed;
c) Non Fund- based working capital limits (Long-term and Short term) for Rs 30 crore - INO AA-/Stable/IND A1+, Long-term rating upgraded; short-term ratingaffirmed.

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Polyplex Corporation announced that the Board of Directors of the Company at its meeting held on 9 November 2020, inter alia, have recommended the second interim dividend of Rs 15 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

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Polyplex Corporation has fixed 20 November 2020 as record date for payment of second interim dividend for FY 2021.

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Net profit of Polyplex Corporation declined 28.56% to Rs 76.50 crore in the quarter ended September 2020 as against Rs 107.09 crore during the previous quarter ended September 2019. Sales rose 12.76% to Rs 1227.30 crore in the quarter ended September 2020 as against Rs 1088.43 crore during the previous quarter ended September 2019.

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