.•.

______________ POLYPLEX

October 5, 2019

BSE Scrip Code: 524051SYMBOL: POLYPLEX

The General Manager - Listing Department,BSELimitedPhiroze Jeejeebhoy Towers,Dalal Street,Mumbai- 400 001

The Manager - Listing Department,National Stock Exchange of India Limited,Exchange Plaza, NSE Building,Bandra Kurla Complex,Bandra East,Mumbai- 400 051

Dear Sir(s),

Sub:~egulation 30 of SEBI (LODR) Regulations, 2015

Ref: Corrigendum to Investor Presentation - September 2019

With reference to the Investor Presentation submitted on September 25, 2019, we would liketo inform that certain corrections have been made in Slide No. 15 (Financial Performance)with the clarificatory note that the impact of higher taxation due to special dividend has notbeen normalized.

These Changes pertain to following items for the FY 2019-20 in the charts:

Item Originally Now correctedreported to

Annualized PAT (Rs. Crores) 687 617Annualized EPS (Rs./Share) 145.95 101.32Effective Tax Rate (%) 9.1 12.2

A Copy of the revised presentation containing above correction is enclosed for information ofall the stakeholders.

A Copy of the revised presentation is also being posted on Company's Website i.e.www.polyplex.com.

Thanking you,Yours faithfully,For Polyplex Corporation Limited

#~~~Ashok Kumar GumaniCompany SecretaryEncl : as above.

Email: akgurnani@polyplex.com

Polyplex Corporation Limited(CIN: L25209UR1984PLC011596)

B-37, Sector-1, Noida - 201 301, Distt. Gautam Budh Nagar (U.P.) IndiaBoard: +91.120.2443716-19, Fax: +91.120.2443723 & 24 Website: www.polyplex.comRegistered Office: Lohia Head Road, Khatima - 262308, Distt. Udham Singh Nagar, Uttarakhand, India

Polyplex Corporation Limited (PCL) IR Presentation

September 2019

• 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 regards 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

Disclaimer

Polyplex: At A Glance

Q1 2019-20 Highlights

------------------------------------------------------1,111 Cr +5% YoY

241 Cr (22% Margin) +28% YoY

Normalized EBITDA

FY 2018-19 Highlights

------------------------------------------------------4,545 Cr +28% YoY

798 Cr (18% Margin) +34% YoY

Normalized EBITDA

Business Mix (FY 2018-19)

------------------------------------------------------

----

----

----

----

----

----

----

----

----

26%

27%22%

19%

5%

America

Europe

India

Other Asian countries

RoW

Polyplex Group Structure

------------------------------------------------------

Covers only manufacturing locations

Success Enablers

Global leadership position with industry leading scale & cost

Continuous and high

growth in demand

Strong financial & operational track record

Stable & proven Management team

Stable earning across business cycles

Global leadership position with industry

leading scale & cost

Global Leadership

- 50

100 150 200 250 300 350 400 450 500

By

Ca

pa

city

(K

MT

) Global # 6 in PET Film*

Unique model of

on-shore, off-shore & near

shore manufacturing

Six Manufacturing Facilities in 5

Countries,

Multiple warehouses and

Liaison offices around the world

*Including all industry upcoming capacity in 2019

Global Presence & Portfolio

27%

26%23%

18%

7%

Operating company-wise breakup of sales

FY 2018-19

Polyplex India Polyplex USA

Polyplex Thailand Polyplex Europa

Other operations (EL, PEBV, PP, PAPL)

61%13%

9%

6%

5%4% 3%

Business segment-wise breakup of sales

FY 2018-19

Thin PET film Coated film OPP

Thick PET film Chips Other sales

CPP/Blown PP

Industry leading scale & vertical integration

PET Film Resin

(MT)

Base Films (MT) Coated/ Value Added Films

77,600

80,500

75,850

57,600

73,000

55,000

58,000

44,000

42,000

31,000

28,800 10,000 8,845

34,613

21,700

17,700

286

985

140

Metallized

(MT)

Coated

(Million Sqm)

INDIA

THAILAND

TURKEY

U.S.A

INDONESIA

UPCOMING

PARENT

PET Thin PET Thick CPPBlown

PP

230,000 28,800 10,000 8,845 89,513

35,000

BOPP

95,000 1,411 4560 PolyplexGroupConsolidated

364,550

9,500

6,000

4080

480

Holography

(MT)

TMP

(Million Sqm)

83

83

60,000

Industry leading cost structure

Industry leader with

near 100% Capacity

Utilization through

business cycles

*Industry CUF as per CY, Polyplex CUF as per FY

156,535

167,379 168,870

176,742

184,300

84%90% 91%

95%99%

69% 70% 72%76%

79%

0%

20%

40%

60%

80%

100%

120%

140,000

145,000

150,000

155,000

160,000

165,000

170,000

175,000

180,000

185,000

190,000

2014-15 2015-16 2016-17 2017-18 2018-19

Polyplex Production (MT) Polyplex Capacity Utilization (%) Industry Capacity Utilization (%)

• Globally one of the lowest cost manufacturers, driven by scale

economies, operational excellence, vertical integration and strategic

manufacturing locations.

• Tax leadership through favorable tax regime

Polyplex CUF vs Industry (Thin PET)

Continuous and High Growth in Demand

Global Demand GrowthCore flexible packaging application end- use

consistently growing at 6-7% due to design

versatility, cost advantage,

resource economy,

low carbon footprint, cost advantage and retail

format / packaging innovations

Core flexible packaging demand driven by

greater penetration of flexible packaging

formats apart from growth in end user

demand.

Versatility and high performance of polyester

film lends itself to a wide range of 100+

applications in both industrial & consumer

staples and consumer discretionary sector

Population Growth

Improved Quality of Life

Primary Growth Drivers

Increasing Environmental

Awareness

Increasing Consumerism

Urbanization

2,985 3,169 3,369 3,601 3,848

-

1,250

2,500

3,750

5,000

2014 2015 2016 2017 2018

Global Thin PET Demand Growth (KMTPA)

Continuous Growth

287

440 448 455

614 624 631 639 649 654

813 813

873

0

100

200

300

400

500

600

700

800

900

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

Base Film Metallised Film Resins Coating

‘000 MT

Capex CAGR

10%

Polyplex growth more that the average market growth rate

Strong financial & operational

track record

Strong Financial Performance

3,170 3,180 3,551

4,545 4,445

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2015-16 2016-17 2017-18 2018-19 2019-20

(Annualised)

Revenue (INR Crores)

4%

14%12%

21%

24%

5%

15%13%

23%

22%

0%

5%

10%

15%

20%

25%

30%

2015-16 2016-17 2017-18 2018-19 2019-20

(Annualised)

ROCE & ROE

ROCE ROE

464 501 595 798

963

15%16% 17% 18%

22%

0%

5%

10%

15%

20%

25%

-

200

400

600

800

1,000

1,200

2015-16 2016-17 2017-18 2018-19 2019-20

(Annualised)

EBITDA

Normalized EBITDA Normalized EBITDA as % of Revenue

Normalized EBITDA: EBITDA excluding impact of FX gains/ losses on long term loans and other non operational items

ROCE & ROE is excluding Cash & Cash Equivalents

Strong Financial Performance

3.00 7.00

40.00 51.00

1.45% 1.67%

8.50%

9.81%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

-

10.00

20.00

30.00

40.00

50.00

60.00

FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19

Dividend

Div Per Share Div Yield

16

361 284

584 617

-

100

200

300

400

500

600

700

2015-16 2016-17 2017-18 2018-19 2019-20

(Annualised)*

PAT (INR Crores)

9.08

72.44 49.85

103.19 101.32

-

20.00

40.00

60.00

80.00

100.00

120.00

2015-16 2016-17 2017-18 2018-19 2019-20

(Annualised)*

EPS (Rs/Share)

8.6%

4.3%

8.6%

12.2%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

2015-16 2016-17 2017-18 2018-19*

Effective Tax rates

* The impact of higher taxes due to special dividend has not been normalized

Free Cash Flows

4,769 7,175 13,690

37,001

1,538 1,891

7,902

20,866

41,526 43,234

12,167

(140)

(10,000)

-

10,000

20,000

30,000

40,000

50,000

2015-16 2016-17 2017-18 2018-19

Operating Cash Flow Deployment Trend

Capex Dividend payment Free cashflow-Surplus (Deficit)

INR in Lacs

68,580

(7,989)

20,910

(37,001)

(14,577) (9,199)

20,726

(60,000)

(40,000)

(20,000)

-

20,000

40,000

60,000

80,000

EBIT Taxes Depreciation & Amortisation Capex Change in WC Unrealised FX Loss / (Gain) Free Cashflow

INR in Lacs

FY 2018-19

Strong Liquidity

881

224 175

562

-

200

400

600

800

1,000

Polyplex Corporation Limited / Polyplex (Asia) Pte.Ltd* Polyplex (Thailand) Public Co. Ltd. & Subsidiaries

Cash & Debt Position as on 30th June 2019

Cash & Cash equivalents (Rs. In crores) Debt (Long Term + Short Term)

(Rs. In crores)

Note: * Polyplex (Asia) Pte. Ltd (Singapore) is 100% owned by Polyplex Corporation Limited

4,769 7,175 13,690

37,001

0.05

- - - 0

0.01

0.02

0.03

0.04

0.05

0.06

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2015-16 2016-17 2017-18 2018-19

Capex Net Debt/Equity

INR in Lacsin times

Despite significant Capex,

D/E – Cash Positive

Stable earning across business cycles

Value Chain

PET Film is a versatile product with wide & growing range of applications.

Product Applications & Sales Mix

Sales By Applications

72%

Packaging

28%

Industrial

Strong R&D Capability

A separate R&D department registered with the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology (India)

18+ dedicated personnel having significant experience in chemicals, coatings, resin, customer process and other relevant fields

Focus on providing innovative solutions to customers. Collaborative Research with govt. labs and educational institutes

15 Patents Granted

VA Stability

• Stable VA despite crude price

volatility

• Increasing proportion of

Specialty Film helps sustain

superior margins

24%28%

32%

76%72%

68%

0%

10%

20%

30%

40%

50%

60%

70%

80%

2016-17 2017-18 2018-19

Speciality Film Share

Speciality Film Essentials

0.26 0.23 0.28 0.38

0.29 0.25 0.33

0.49 0.56 0.54

0.60 0.50

0.61

0.82 0.84 0.73 0.72

0.85 0.90

0.84 0.93 0.91

0.98 0.93

0.98 1.02 46 46

49 54

50 52

61

67

75 75

69

63

69

-

20

40

60

80

-

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

$/

Ba

rre

l

$/K

g

PCL VA Vs China VA (SCI) Vs Crude

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

Stable & proven Management team

Management Team

● The business is managed on a profit center concept with each unit in a geography headed by a Profit

Centre Head (PCH) and supported by functional specialists.

● Some of the smaller downstream businesses are headed by Business Heads (BH)

● Finance, Human Resource, Procurement, Research & Development, Information Technology and

Projects are Corporate Functions providing necessary oversight and know-how across the Group

● CEO is responsible for the overall business and reports to the Board

●Mr. Ranjit Singh, ex-COO, and Director of PCL for several years is associated again as an Independent

Director.

Pranay Kothari

CEO

Kapil Gupta

PCH (India)

Krishna Reddy

Head R&D

Amit Prakash, PCH

(Thailand, Turkey & Indonesia)

Ramesh Gupta

BH (Saralam)

Amit Kalra

PCH (USA)

Bhavin Patel

BH (Saracote)

Manish Gupta

Group CFO

Sunil Kumar

Group Head HR

Rajpal Yadav

Group Head Projects

Polyplex & Sustainability

Minimize product impact through

optimized product design:

• Down-gauging 8-10μ

• RPET with up to 90% PCR content

• BioPET - Bio content 30%

• Biodegradable film

Target Products:

• Co-create design using principles of

circular economy

• Create mono material (Low SIT heat

sealable PET) structures to improve

recyclability

• Reduce energy and water consumption

• Effective & efficient waste water

treatment & water conservation

• Increase usage of renewable energy

• Recycle Post Industrial and Post

Consumer Waste

• Increase Sustainable Sourcing

• Use recycled material

• Use biomaterials (MEG)

• Support development and modernization of plastic waste management infrastructure

(Collection, segregation and recycling)

• Play catalyst and leadership role in engaging the industry in sustainability efforts - both

plastic waste and climate change

• Collaborate with recyclers in Europe to recycle Multi Layer Plastics (MLPs)

Po

rtfo

lio

Op

era

tio

ns

Co

lla

bo

rati

on

s

Industry Outlook

SUPPLY

• Approx. 0.9 Million Tons Of Capacity To Be

Added In Thin PET By 2022 Globally

• Capacity To Be Added Every Quarter

• Margin Disruption Expected Temporarily While

Market Absorbs Added Supply

• Changing cost dynamics may result in closure/

underutilization of older lines

DEMAND

• Demand Expected To Grow At A Global Rate Of

4-6%

• In Asia 7-10%

• Europe 2-3%

• USA 4-5%

• Improving Industry CUF Despite Expected

Capacity Additions

Polyplex – Key points

• Leverage our local presence in

various geographies – Quick

turnaround, urgent delivery,

onshore and near-shore services,

customer relationship and intimacy

• Offer wide range of products

• Focus on specialty and high value

added products thus making

earnings more predictable

• Likely impact on margins in FY 2020-

21 and FY 2021-22 to be made up by

contribution from new capacities

and improvement in product

portfolio

• Low cost structure (on DDP basis)

helps sustain competitive advantage

Capex Growth Plans

In addition to the above, normal maintenance Capex is generally in the range of USD 5-6 million.

Thank You