Cosmo and Polyplex are operating in different markets. Polyplex India play is a relatively smaller one compared to their overall size.
India is suffering from overcapacity – too many lines coming up in a short span of time. Polyplex doesn’t seem to have this issue in its international operations. They have demand, inventory wind-down and power costs issues. Plus forex conversion issues and inventory losses.
Agree Q3 is likely to be bottom as Q4 demand will likely revive and cost pressures will start coming down.
Yet despite the downtrend Polyplex is still very profitable and Balance Sheet is very healthy. Why does its promoter want to sell? How do people on this forum look at future of packaging films business in general ?
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