Polyplex Corporation Limited

First Water reduced its stake in Polyplex Corporation Limited from 3.33% to 3.26%, selling 17,668 shares.

A manufacturer of specialized plastic films including BOPP, blown PP/PE, and CPP films for flexible packaging and industrial applications such as release liners, tapes, and labels. The company operates multiple manufacturing facilities across five countries with warehouses and liaison offices positioned worldwide. With over three decades of experience in plastic films, it serves diverse customer segments across the packaging and industrial sectors globally.

India-focused and FPI co-founded by Arun Chulani (CA, MSc LSE, ex-Ikarus Petroleum) and Ricky Kirpalani. Concentrated long-only value strategy holding 15 to 18 stocks for 5 to 7 year horizons. Patient capital with a Buffett-style preference for moaty Indian businesses available at sensible prices.