Premier Polyfilm is a manufacturer that turns PVC resin into the surfaces people walk on, sit on, and build with - vinyl flooring, synthetic leather, and industrial sheeting - and has done so from its base in Uttar Pradesh since starting production in 1993. The company was built by the Goenka family, with the founder’s son now running day-to-day operations as Managing Director, and a third generation recently appointed to lead a new southern expansion. Its recurring approach is to own the manufacturing process end-to-end - buying resin, running its own plants, and selling through a dealer network - while methodically adding capacity and chasing higher-margin product grades, a pattern visible across three decades of rising production volumes. # Business segments A single-engine manufacturer of flexible PVC products - flooring, sheeting, films and artificial leather - sold into construction, automotive and industrial markets, with an export side-hustle and a southern expansion under construction. ## 1. PVC flooring, sheeting and artificial leather: the factory that makes surfaces **The company runs two plants in Uttar Pradesh that take in PVC resin and push out finished rolls, sheets and tiles - it is a single product engine where the only real levers are how much resin costs, how many tonnes the lines produce, and which grades the sales team can place with dealers.** - **One raw material dominates the cost structure** - PVC resin is the most important input, and India does not produce enough of certain grades, so the company faces a constant risk of supply disruption and price swings. It responds by sourcing resin at competitive prices while trying to hold finished-goods prices steady, and by discontinuing low-margin product lines to focus on categories with stronger demand and profitability. - **Two factories, one growing output** - Unit I sits in Sahibabad, Ghaziabad, and Unit II in Sikandrabad, Bulandshahar, with the second unit purpose-built to add 4,500 metric tonnes per year of soft-touch artificial leather, sheetings, films and knitted fabric. Total production hit 28,383 metric tonnes in FY25, up from 27,133 the year before, because new plant and machinery commissioned during the year lifted capacity utilisation. - **Certifications unlock customer types** - the company holds BIS licences for PVC geomembrane (pond and canal liners), electrical insulating mats, and unbacked flexible flooring, alongside ISO 9001 for quality, ISO 14001 for environmental management, and the automotive-specific IATF 16949 standard, which signals it supplies vehicle manufacturers. - **Sold through dealers, at home and abroad** - revenue comes from selling manufactured PVC products through a network of dealers and distributors in both domestic and export markets, with the Plastic & Export Promotion Council regularly giving it export awards. Exports have climbed from Rs. 1,911 lakh in FY21 to Rs. 3,958 lakh in FY24. - **A significant customer is also a related party** - M/s RMG Polyvinyl India Limited contributes meaningfully to revenue and profit, with transactions covering the sale and purchase of raw material, semi-finished and finished goods, a relationship that became a related-party one under Indian Accounting Standards. # Group structure and partners **A family-controlled, standalone manufacturer with no subsidiaries - the Goenka family holds management and board positions across two generations, with a third now in an executive role.** - **Founder-led, now second-generation operational control** - Shri Amar Nath Goenka was Managing Director from 1993 and remains a director in related entities; his son Shri Amitaabh Goenka is the current Managing Director & CEO, and his grandson Shri Mayank Goenka was appointed Executive Director in 2025 to run the new Tamil Nadu project and Unit II in Sikandrabad. - **No holding company, no subsidiaries** - annual reports from FY20 through FY25 consistently state the company has no subsidiaries or associates, though some financial-statement language references a subsidiary in loan disclosures, suggesting a possible legacy or minor interest. - **Promoter shareholding has shifted** - promoter holdings stood at roughly 67% as of March 2022, up from about 48% a year earlier, with the Managing Director personally holding nearly 12%. The top non-promoter shareholders in FY21 included Sri Vishvanath Enterprises Limited at close to 20% and Sanghai Holdings Private Limited at over 14%. - **A clean energy side arrangement** - the company has a Power Purchase Agreement with AMP Energy Green Thirteen Pvt. Ltd. and holds an investment in that entity, part of a stated plan to switch to solar and PNG energy sources.