Jindal Poly Films Ltd

₹ 707 -1.31%

24 Sep 10:34 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 ₹ 3,094 Cr.
Current Price ₹ 707
High / Low ₹ 1,026 / 360
Stock P/E 24.0
Book Value ₹ 935
Dividend Yield 0.83 %
ROCE 2.25 %
ROE 1.40 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.77 times its book value
Debtor days have improved from 80.4 to 34.7 days.
Company's working capital requirements have reduced from 364 days to 93.0 days

Cons

The company has delivered a poor sales growth of -29.8% over past five years.
Tax rate seems low
Company has a low return on equity of 3.82% over last 3 years.
Dividend payout has been low at 4.82% of profits over last 3 years

* 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

Part of BSE Industrials BSE 1000

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	105	149	140	148	134	0	1	174	0	0	186	168	191
	110	132	134	139	140	7	9	192	18	84	181	641	158
Operating Profit	-5	17	6	9	-6	-7	-7	-18	-18	-84	6	-473	33
OPM %	-4.5%	12%	4.3%	6%	-4.5%		-508%	-11%			3.0%	-281%	17%
	208	94	137	57	286	248	24	-0	131	41	113	-1,743	-88
Interest	10	7	30	3	3	0	0	23	0	0	12	12	7
Depreciation	19	19	20	3	13	0	0	13	0	0	11	12	12
Profit before tax	175	86	93	60	264	241	16	-54	114	-43	95	-2,240	-75
Tax %	26%	26%	6%	49%	25%	23%	116%	-107%	18%	-65%	21%	-3%	27%
	130	64	87	31	197	185	-3	4	93	-15	75	-2,180	-95
EPS in Rs	29.61	14.62	19.97	7.03	44.97	42.20	-0.57	0.90	21.14	-3.44	17.22	-497.74	-21.68
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,775	2,644	2,583	2,951	3,596	3,530	4,075	5,869	2,481	543	671	697	545
	2,485	2,264	2,352	2,643	3,163	2,877	2,969	4,435	2,046	516	677	1,260	1,064
Operating Profit	290	380	231	308	433	652	1,106	1,434	436	28	-6	-563	-519
OPM %	10%	14%	9%	10%	12%	18%	27%	24%	18%	5%	-0.8%	-81%	-95%
	33	8	78	-115	-474	73	131	384	1,658	496	571	-1,408	-1,678
Interest	33	39	63	66	47	95	60	31	44	50	45	67	31
Depreciation	58	56	98	102	102	116	142	150	87	60	52	49	35
Profit before tax	232	292	147	24	-191	515	1,035	1,636	1,963	414	468	-2,086	-2,263
Tax %	34%	33%	36%	40%	85%	7%	24%	27%	11%	25%	18%	-3%
	153	195	95	15	-353	479	786	1,194	1,741	312	383	-2,027	-2,215
EPS in Rs	36.54	46.44	21.63	3.32	-80.60	109.31	179.36	272.66	397.53	71.23	87.50	-462.82	-505.64
Dividend Payout %	3%	2%	5%	30%	-1%	1%	1%	2%	1%	8%	7%	0%

Compounded Sales Growth
10 Years:	-12%
5 Years:	-30%
3 Years:	-35%
TTM:	211%

Compounded Profit Growth
10 Years:	-9%
5 Years:	-38%
3 Years:	-57%
TTM:	-62%

Stock Price CAGR
10 Years:	7%
5 Years:	-6%
3 Years:	2%
1 Year:	21%

Return on Equity
10 Years:	13%
5 Years:	11%
3 Years:	4%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	44	44	44	44	44	44	44	44	44	44	44	44
Reserves	1,499	1,683	1,760	1,771	1,415	1,758	2,540	3,728	5,450	5,743	6,102	4,049
	549	751	1,053	986	1,066	1,397	886	1,206	758	681	619	540
	476	486	692	754	1,033	1,101	1,249	1,531	285	721	777	613
Total Liabilities	2,568	2,964	3,549	3,555	3,558	4,300	4,719	6,508	6,536	7,189	7,542	5,246
	1,118	1,276	1,787	1,762	2,017	2,322	2,428	2,601	1,041	1,007	932	854
CWIP	80	165	13	15	31	182	25	77	21	0	0	2
Investments	575	746	848	719	406	424	453	1,312	3,641	4,336	4,607	3,593
	795	777	902	1,059	1,104	1,372	1,813	2,518	1,834	1,845	2,004	797
Total Assets	2,568	2,964	3,549	3,555	3,558	4,300	4,719	6,508	6,536	7,189	7,542	5,246

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	83	269	301	288	455	354	897	730	-417	64	-34	232
	-264	-443	-194	-113	-511	-425	-436	-1,106	-619	78	164	17
	140	165	-99	-158	45	298	-533	290	953	-146	-131	-221
Net Cash Flow	-41	-9	8	17	-11	228	-72	-86	-82	-4	-1	29
Free Cash Flow	50	-10	215	202	55	-118	697	345	-807	53	-31	224
CFO/OP	54%	97%	137%	95%	122%	73%	104%	74%	6%	446%	-464%	-40%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	20	17	14	17	14	13	9	13	21	102	104	35
Inventory Days	50	58	67	78	69	95	112	91	20	113	147	143
Days Payable	38	30	41	43	37	41	43	29	5	69	98	100
Cash Conversion Cycle	32	45	40	52	46	67	78	75	35	146	153	78
Working Capital Days	17	9	19	11	14	10	35	44	162	577	422	93
ROCE %	14%	14%	7%	10%	16%	21%	33%	37%	16%	7%	6%	2%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

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Mar 2019

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Mar 2022

Mar 2023

Mar 2024

Mar 2025

May 2026

BOPET Installed Capacity
TPA

	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
		xx.xx	xx.xx		xx.xx		xx.xx	xx.xx	xx.xx	xx.xx
					xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xx.xx		xx.xx	xx.xx		xx.xx
											xx,xxx

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BOPP Installed Capacity
TPA

Packaging Films Share of Revenue
%

Export Revenue Share
%

Non-woven Installed Capacity
TPA

BOPET Capacity Utilization
%

Operational BOPET Capacity (Post-fire)
TPA

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%	74.54%
	3.02%	3.08%	3.00%	2.96%	2.87%	3.79%	3.54%	3.12%	3.39%	3.44%	2.55%	1.93%
	0.03%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%
	22.40%	22.34%	22.44%	22.49%	22.58%	21.68%	21.90%	22.34%	22.06%	22.00%	22.91%	23.52%
No. of Shareholders	56,384	48,987	47,631	45,766	44,926	41,439	40,313	42,939	44,109	43,870	38,508	38,947

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.55%	74.55%	74.55%	74.55%	74.55%	74.55%	74.54%	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%	2.55%	1.93%
	0.07%	0.07%	0.12%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%
	20.82%	21.35%	23.26%	24.28%	23.82%	22.54%	22.02%	22.44%	21.90%	22.91%	23.52%
No. of Shareholders	46,338	44,493	42,827	40,049	39,425	50,383	56,484	47,631	40,313	38,508	38,947

* 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

Insights

Shareholding Pattern

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