Jindal Poly Films Ltd

₹ 521 -0.50%

22 Aug 10:10 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 ₹ 2,281 Cr.
Current Price ₹ 521
High / Low ₹ 1,150 / 510
Stock P/E 41.7
Book Value ₹ 940
Dividend Yield 1.05 %
ROCE 5.33 %
ROE 2.36 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.56 times its book value
Company has been maintaining a healthy dividend payout of 21.0%

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 8.52% over past five years.
Company has a low return on equity of 4.09% over last 3 years.
Earnings include an other income of Rs.342 Cr.
Working capital days have increased from 163 days to 319 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

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	1,592	1,414	887	810	832	1,034	984	1,077	1,233	1,311	1,371	1,420	1,083
	1,220	1,371	970	784	819	1,008	1,016	1,084	1,198	1,230	1,276	1,363	1,080
Operating Profit	372	43	-83	25	13	25	-33	-7	35	81	95	56	4
OPM %	23%	3%	-9%	3%	2%	2%	-3%	-1%	3%	6%	7%	4%	0%
	113	229	74	4	199	88	129	62	281	270	7	-101	166
Interest	17	30	76	25	29	33	81	29	27	159	3	171	52
Depreciation	43	44	45	43	50	57	62	45	55	55	53	59	58
Profit before tax	426	198	-129	-40	133	23	-46	-18	235	137	46	-275	60
Tax %	26%	-145%	-25%	871%	26%	47%	-58%	2%	28%	15%	91%	-35%	39%
	315	485	-97	-385	98	12	-19	-19	168	117	4	-179	37
EPS in Rs	71.95	110.84	-22.06	-87.90	22.29	2.78	-4.44	-4.31	38.38	26.62	0.94	-40.87	8.42
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	5,143	7,557	7,225	7,005	6,448	3,623	3,546	4,082	5,878	4,697	3,926	5,335	5,185
	4,720	6,896	6,244	6,316	5,821	3,172	2,874	2,975	4,443	4,335	3,925	5,067	4,949
Operating Profit	422	662	980	689	627	451	671	1,108	1,435	362	0	268	236
OPM %	8%	9%	14%	10%	10%	12%	19%	27%	24%	8%	0%	5%	5%
	-1	-113	7	91	47	-538	73	139	386	420	478	457	342
Interest	126	91	106	111	121	50	99	61	32	152	173	360	385
Depreciation	188	229	245	285	255	104	118	145	153	174	214	223	226
Profit before tax	107	228	636	385	298	-241	527	1,040	1,636	455	91	142	-33
Tax %	38%	20%	28%	30%	49%	70%	7%	24%	27%	30%	21%	23%
	67	182	456	269	152	-409	489	791	1,196	319	72	110	-22
EPS in Rs	18.60	41.01	80.45	42.79	19.45	-93.30	111.56	180.57	273.11	72.83	16.32	25.07	-4.89
Dividend Payout %	5%	3%	1%	2%	5%	-1%	1%	1%	2%	6%	34%	24%

Compounded Sales Growth
10 Years:	-3%
5 Years:	9%
3 Years:	-3%
TTM:	20%

Compounded Profit Growth
10 Years:	-8%
5 Years:	-27%
3 Years:	-56%
TTM:	24%

Stock Price CAGR
10 Years:	4%
5 Years:	2%
3 Years:	-20%
1 Year:	-41%

Return on Equity
10 Years:	11%
5 Years:	14%
3 Years:	4%
Last Year:	2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	42	44	44	44	44	44	44	44	44	44	44	44
Reserves	1,633	1,731	2,172	2,322	2,433	2,213	1,811	2,598	3,789	4,164	3,951	4,074
	1,560	1,870	1,953	2,036	1,036	1,112	1,426	916	1,206	4,085	4,468	4,420
	2,377	2,166	2,498	2,594	926	1,211	1,104	1,260	1,535	1,247	1,938	2,413
Total Liabilities	5,613	5,812	6,668	6,996	4,439	4,581	4,384	4,818	6,574	9,539	10,401	10,951
	2,785	2,454	3,014	3,109	1,786	2,060	2,362	2,466	2,636	3,050	3,223	3,132
CWIP	130	540	389	316	15	31	182	25	77	92	203	302
Investments	215	544	727	901	1,542	1,390	440	480	1,318	3,640	3,894	4,093
	2,483	2,274	2,537	2,670	1,096	1,100	1,400	1,847	2,543	2,757	3,080	3,425
Total Assets	5,613	5,812	6,668	6,996	4,439	4,581	4,384	4,818	6,574	9,539	10,401	10,951

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	226	145	619	503	739	499	369	911	724	-566	133	222
	-1,401	-391	-646	-457	-1,349	-548	-417	-443	-1,078	-2,369	-82	276
	1,290	214	22	-63	702	38	277	-534	259	2,856	-44	-492
Net Cash Flow	115	-32	-5	-17	92	-10	229	-66	-95	-78	6	6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	61	34	37	35	9	15	13	9	13	19	33	28
Inventory Days	126	77	103	112	43	70	98	114	92	111	147	112
Days Payable	84	51	55	68	23	38	42	43	29	20	47	50
Cash Conversion Cycle	103	60	84	78	28	47	69	80	76	111	133	90
Working Capital Days	19	24	27	23	4	8	10	34	46	103	67	319
ROCE %	10%	11%	16%	9%	10%	12%	18%	32%	37%	12%	3%	5%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%
	2.94%	2.80%	3.42%	3.09%	3.02%	3.08%	3.00%	2.96%	2.87%	3.79%	3.54%	3.12%
	0.06%	0.05%	0.01%	0.01%	0.03%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	22.46%	22.58%	22.02%	22.36%	22.40%	22.34%	22.44%	22.49%	22.58%	21.68%	21.90%	22.34%
No. of Shareholders	54,301	55,763	56,484	57,298	56,384	48,987	47,631	45,766	44,926	41,439	40,313	42,939

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	74.55%	74.55%	74.55%	74.55%	74.55%	74.55%	74.54%	74.54%	74.54%	74.54%
	4.57%	4.04%	2.07%	1.13%	1.63%	2.91%	3.42%	3.00%	3.54%	3.12%
	0.07%	0.07%	0.12%	0.04%	0.01%	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%	22.34%
No. of Shareholders	46,338	44,493	42,827	40,049	39,425	50,383	56,484	47,631	40,313	42,939

* 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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