Jindal Poly Films gains as its arm to invest Rs 700 crore for setting up of new film lines in Nashik
Jindal Poly Films is currently trading at Rs. 674.95, up by 11.60 points or 1.75% from its previous closing of Rs. 663.35 on the BSE.
The scrip opened at Rs. 680.00 and has touched a high and low of Rs. 680.10 and Rs. 663.95 respectively. So far 2104 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1145.50 on 10-Dec-2024 and a 52 week low of Rs. 466.15 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 680.10 and Rs. 545.05 respectively. The current market cap of the company is Rs. 2942.67 crore.
The promoters holding in the company stood at 74.55%, while Institutions and Non-Institutions held 3.55% and 21.90% respectively.
Jindal Poly Films’ subsidiary--JPFL Films is planning to invest Rs 700 crore for setting up of New BOPP, PET and CPP lines in Nashik, Maharashtra. The new lines are expected to be commissioned in next 2-3 years’ time.
This capacity expansion is in addition to its ongoing new BOPP Line (Line 9) which was announced in the month of August, 2024 and is part of the company’s strategic play in the flexible packaging segment and in line with the company’s aim to increase market share amidst challenging demand-supply imbalances leading to ongoing pricing pressures in the sector. The expansion comes with the YoY growth of around 43% in Net Revenue from Operations in 9 months’ period FY 24-25 and to maintain its market leadership despite business headwinds. Flexible packaging, or packaging in general, is regarded as one of the most lucrative industries due to its wide applicability in the food and beverage, personal care, and pharmaceutical industries.
These new lines will be the most advanced in the market, boasting superior width and output capabilities, along with exceptional reliability, equipment quality, and process efficiency. The commissioning of these new lines will further strengthen Company’s growth story. It highlights the JPFL Films’ dedication to technological advancement, quality enhancement and customer satisfaction. As the flexible packaging market continues to evolve, the JPFL Films is better equipped than ever to meet the challenges and opportunities that lie ahead, reinforcing its status as an industry pioneer and reliable partner for businesses worldwide.
Jindal Poly Films (JPFL) is the largest manufacturer of BOPET and BOPP films in India. The company produces BOPET film, BOPP film, metalized BOPET film and BOPP film, coated BOPET and BOPP films, polyester chips (for captive consumption in the BOPET film).
