Jindal Poly Films Ltd

₹ 612 1.32%

25 Jun 11:33 a.m.

jindalgroup.com BSE: 500227 NSE: JINDALPOLY

About

Jindal Poly Films Limited is a part of the B.C. Jindal group. It is the largest manufacturer of BOPET and BOPP films in India. The company produces BOPET, BOPP, CPP, Thermal, Metalized and Coated Films. ^[1]^[2]

Key Points

Business Segments FY24
1) Packaging Films (79%): ^[1] The co. was the largest manufacturer of BOPET and BOPP films in India. It produced BOPET, BOPP, CPP, Thermal, Metalized, Coated and Capacitor Films. In Aug 2022, it executed a business transfer transaction where the packaging films business undertaking was sold to its subsidiary JPFL Films on a slump sale basis for Rs. ~2,400 Cr. ^[2]
2) Non-Woven Fabrics (~14%): It produces PP-based ‘Spunmelt’ and ‘Spunbond’ Nonwoven Fabric.
3) Labels Division (7%): Through its subsidiary, SMI Coated Products, the co. offers 200+ different products of self-adhesive labels. ^[3]

Website BSE NSE

Market Cap ₹ 2,680 Cr.
Current Price ₹ 612
High / Low ₹ 1,150 / 545
Stock P/E 8.71
Book Value ₹ 1,403
Dividend Yield 0.90 %
ROCE 7.30 %
ROE 5.53 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.43 times its book value

Cons

The company has delivered a poor sales growth of -31.5% over past five years.
Earnings include an other income of Rs.628 Cr.
Debtor days have increased from 45.2 to 102 days.
Working capital days have increased from 344 days to 755 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Packaging

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	1,357.25	1,724.12	1,509.52	642.69	134.00	195.10	105.35	148.98	140.45	148.40	134.33	176.40	186.73
	1,043.06	1,254.39	1,151.10	606.77	140.74	146.99	110.04	131.73	134.39	139.41	140.44	168.96	175.24
Operating Profit	314.19	469.73	358.42	35.92	-6.74	48.11	-4.69	17.25	6.06	8.99	-6.11	7.44	11.49
OPM %	23.15%	27.24%	23.74%	5.59%	-5.03%	24.66%	-4.45%	11.58%	4.31%	6.06%	-4.55%	4.22%	6.15%
	20.98	204.06	125.18	1,339.03	79.44	114.18	208.34	94.28	136.66	57.14	286.40	272.71	11.63
Interest	-8.64	18.85	15.50	9.77	10.41	8.16	9.99	6.65	30.20	3.23	3.26	31.19	-12.51
Depreciation	37.99	38.04	41.21	21.88	11.57	11.88	18.65	18.89	19.68	2.78	13.03	13.21	13.22
Profit before tax	305.82	616.90	426.89	1,343.30	50.72	142.25	175.01	85.99	92.84	60.12	264.00	235.75	22.41
Tax %	28.48%	20.71%	25.31%	0.21%	21.12%	70.62%	25.90%	25.51%	5.79%	48.75%	25.39%	21.60%	111.20%
	218.72	489.13	318.85	1,340.52	40.01	41.80	129.69	64.04	87.46	30.81	196.99	184.83	-2.51
EPS in Rs	49.94	111.67	72.80	306.05	9.13	9.54	29.61	14.62	19.97	7.03	44.97	42.20	-0.57
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	2,232	2,631	2,775	2,644	2,583	2,951	3,596	3,530	4,075	5,869	2,481	543	646
	2,088	2,340	2,485	2,264	2,352	2,643	3,163	2,877	2,969	4,435	2,046	516	624
Operating Profit	144	291	290	380	231	308	433	652	1,106	1,434	436	28	22
OPM %	6%	11%	10%	14%	9%	10%	12%	18%	27%	24%	18%	5%	3%
	2	1	33	8	78	-115	-474	73	131	384	1,658	496	628
Interest	40	58	33	39	63	66	47	95	60	31	44	50	25
Depreciation	89	94	58	56	98	102	102	116	142	150	87	60	42
Profit before tax	17	140	232	292	147	24	-191	515	1,035	1,636	1,963	414	582
Tax %	51%	40%	34%	33%	36%	40%	85%	7%	24%	27%	11%	25%
	8	83	153	195	95	15	-353	479	786	1,194	1,741	312	410
EPS in Rs	2.01	19.83	36.54	46.44	21.63	3.32	-80.60	109.31	179.36	272.66	397.53	71.23	93.63
Dividend Payout %	50%	5%	3%	2%	5%	30%	-1%	1%	1%	2%	1%	8%

Compounded Sales Growth
10 Years:	-15%
5 Years:	-31%
3 Years:	-49%
TTM:	9%

Compounded Profit Growth
10 Years:	12%
5 Years:	39%
3 Years:	-27%
TTM:	-7%

Stock Price CAGR
10 Years:	10%
5 Years:	9%
3 Years:	-15%
1 Year:	-15%

Return on Equity
10 Years:	17%
5 Years:	21%
3 Years:	17%
Last Year:	6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	42	42	44	44	44	44	44	44	44	44	44	44	44
Reserves	1,087	1,217	1,499	1,683	1,760	1,771	1,415	1,758	2,540	3,728	5,450	5,743	6,101
	581	489	549	751	1,053	986	1,066	1,397	886	1,206	758	681	629
	351	473	476	486	692	754	1,033	1,101	1,249	1,531	285	721	819
Total Liabilities	2,062	2,221	2,568	2,964	3,549	3,555	3,558	4,300	4,719	6,508	6,536	7,189	7,592
	1,249	1,155	1,118	1,276	1,787	1,762	2,017	2,322	2,428	2,601	1,041	1,007	968
CWIP	49	51	80	165	13	15	31	182	25	77	21	0	0
Investments	108	255	575	746	848	719	406	424	453	1,312	3,641	4,336	4,682
	656	761	795	777	902	1,059	1,104	1,372	1,813	2,518	1,834	1,845	1,943
Total Assets	2,062	2,221	2,568	2,964	3,549	3,555	3,558	4,300	4,719	6,508	6,536	7,189	7,592

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	88	380	83	269	301	288	455	354	897	730	-417	64
	-88	-94	-264	-443	-194	-113	-511	-425	-436	-1,106	-619	78
	-7	-245	140	165	-99	-158	45	298	-533	290	953	-146
Net Cash Flow	-7	41	-41	-9	8	17	-11	228	-72	-86	-82	-4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	26	25	20	17	14	17	14	13	9	13	21	102
Inventory Days	60	62	50	58	67	78	69	95	112	91	20	113
Days Payable	25	46	38	30	41	43	37	41	43	29	5	69
Cash Conversion Cycle	61	42	32	45	40	52	46	67	78	75	35	146
Working Capital Days	60	27	51	53	49	52	34	35	63	78	200	755
ROCE %	4%	13%	14%	14%	7%	10%	16%	21%	33%	37%	16%	7%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	74.55%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%
	2.98%	2.94%	2.80%	3.42%	3.09%	3.02%	3.08%	3.00%	2.96%	2.87%	3.79%	3.54%
	0.00%	0.06%	0.05%	0.01%	0.01%	0.03%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%
	22.47%	22.46%	22.58%	22.02%	22.36%	22.40%	22.34%	22.44%	22.49%	22.58%	21.68%	21.90%
No. of Shareholders	52,792	54,301	55,763	56,484	57,298	56,384	48,987	47,631	45,766	44,926	41,439	40,313

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	74.55%	74.55%	74.55%	74.55%	74.55%	74.55%	74.54%	74.54%	74.54%
	4.57%	4.04%	2.07%	1.13%	1.63%	2.91%	3.42%	3.00%	3.54%
	0.07%	0.07%	0.12%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%
	20.82%	21.35%	23.26%	24.28%	23.82%	22.54%	22.02%	22.44%	21.90%
No. of Shareholders	46,338	44,493	42,827	40,049	39,425	50,383	56,484	47,631	40,313

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Jindal Poly Films Ltd

Jindal Poly Films Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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