Polylink Polymers posts Rs 62.76 lakh first-half profit

Polylink Polymers (India) Limited reported Rs 62.76 lakh profit for the half year ended September 30, 2026, as total income rose to Rs 50.21 crore from Rs 42.81 crore a year earlier. Polylink Polymers’ unaudited standalone results also show trade receivables of Rs 19.85 crore and current borrowings of Rs 10.52 crore at September-end.

How did Polylink Polymers perform in the first half?

Polylink Polymers recorded Rs 62.76 lakh of total comprehensive income for the half year ended September 30, 2026, compared with Rs 37.04 lakh in the corresponding half year ended September 30, 2025. Total income rose by Rs 7.40 crore year on year to Rs 50.21 crore, while profit before tax increased to Rs 71.06 lakh from Rs 42.50 lakh.

Total expenses were Rs 49.50 crore in the latest half year, versus Rs 42.39 crore a year earlier, compared with total income of Rs 50.21 crore and Rs 42.81 crore, respectively. Polylink Polymers reports one operating segment, manufacture and sale of polymeric compounds, and therefore did not provide a segment-wise revenue or profit split.

Polylink Polymers’ basic and diluted earnings per share were Rs 0.28 for the half year, against Rs 0.17 in the corresponding 2025 period. The September 2026 results state that these per-share figures are not annualised and are based on equity shares with a face value of Rs 5 each.

What changed in Polylink Polymers’ September quarter?

Polylink Polymers reported total income of Rs 26.71 crore in the quarter ended September 30, 2026, up from Rs 23.50 crore in the preceding June 2026 quarter and Rs 22.11 crore in the September 2025 quarter. Total expenses in the latest quarter were Rs 26.42 crore, compared with Rs 23.08 crore in the June 2026 quarter.

Profit before tax was Rs 28.51 lakh in the September 2026 quarter, lower than Rs 42.55 lakh in the preceding quarter but above Rs 16 lakh in the September 2025 quarter. Total comprehensive income was Rs 20.84 lakh, compared with Rs 41.95 lakh in June 2026, while basic earnings per share were Rs 0.09 against Rs 0.19.

Material costs were Rs 22.54 crore in the September quarter, compared with Rs 18.26 crore in June 2026. Employee-benefit expense was Rs 1.16 crore versus Rs 1.07 crore, depreciation and amortisation rose to Rs 62.65 lakh from Rs 51.91 lakh, and other expenses were Rs 2.43 crore against Rs 2.37 crore.

Why did Polylink Polymers’ tax position change?

Polylink Polymers said it decided to adopt the concessional tax regime under Section 200 of the Income Tax Act, 2025, effective from tax year 2026-27. The company said this reduces its applicable tax rate to 25.17% from 27.82% and permits accumulated Minimum Alternate Tax, or MAT, credit to be carried forward subject to conditions.

Following the decision, Polylink Polymers remeasured its net deferred-tax liabilities using the reduced rate and recognised a Rs 10.75 lakh net reversal in the half-year statement of profit and loss. Current tax expense was Rs 12.15 lakh for the half year ended September 30, 2026, compared with Rs 11.93 lakh in the prior-year half year.

Polylink Polymers reported no exceptional items in either of the two half-year periods. Its Rs 71.06 lakh profit before tax for the latest half year and the Rs 10.75 lakh deferred-tax-liability reversal should therefore be read alongside the disclosed tax-regime adoption rather than a separately identified exceptional item.

What does Polylink Polymers’ balance sheet show?

Polylink Polymers’ total assets rose to Rs 55.05 crore at September 30, 2026, from Rs 46.61 crore at March 31, 2026. Current assets increased to Rs 29.54 crore from Rs 22.18 crore, led by trade receivables of Rs 19.85 crore, up from Rs 15.01 crore over six months.

Inventories rose to Rs 7.55 crore at September 30 from Rs 6.53 crore at March 31, while other current assets increased to Rs 4.97 crore from Rs 48.52 lakh. Cash and cash equivalents declined to Rs 85,000 from Rs 2.23 lakh, although bank balances other than cash equivalents increased to Rs 14.18 lakh from Rs 10.22 lakh.

Non-current assets were Rs 25.51 crore at September-end, compared with Rs 24.43 crore at March-end. Property, plant and equipment stood at Rs 25.44 crore, while other non-current assets were Rs 6.83 lakh, down from Rs 2.74 crore six months earlier.

How did borrowings and cash flow move at Polylink Polymers?

Polylink Polymers’ current borrowings rose to Rs 10.52 crore at September 30, 2026, from Rs 3.46 crore at March 31, 2026. Non-current borrowings declined to Rs 1.75 crore from Rs 2.12 crore, while total current liabilities increased to Rs 20.15 crore from Rs 12 crore.

Polylink Polymers used Rs 4.95 crore in operating activities during the half year ended September 30, 2026, compared with net operating cash generation of Rs 64.09 lakh a year earlier. Its cash-flow statement records a Rs 4.73 crore increase in trade receivables and a Rs 1.49 crore increase in other current assets among working-capital movements.

Investing activities used Rs 1.38 crore in the latest half year, while financing activities generated Rs 6.31 crore. Financing cash flow included net short-term borrowing proceeds of Rs 7.17 crore and repayment of non-current borrowings of Rs 47.12 lakh, resulting in a Rs 1.38 lakh decrease in cash and cash equivalents from the opening Rs 2.23 lakh.

Conclusion

Polylink Polymers increased first-half total income to Rs 50.21 crore and total comprehensive income to Rs 62.76 lakh, compared with Rs 42.81 crore and Rs 37.04 lakh, respectively, a year earlier. The expansion in assets also included a Rs 4.84 crore increase in trade receivables and a Rs 7.06 crore increase in current borrowings between March 31 and September 30, 2026.

What to watch next is whether Polylink Polymers converts its Rs 19.85 crore receivables balance into operating cash flow and how its Rs 10.52 crore current borrowings change. Management has disclosed that the 25.17% concessional tax regime applies from tax year 2026-27 after the Rs 10.75 lakh deferred-tax-liability reversal recognised in the first half.