Jindal Poly Films Limited, a part of the B.C. Jindal group, stands as the largest manufacturer of BOPET and BOPP films in India. Established in 1974 and based in Gurugram, India, the company has grown into a leading player in the flexible packaging industry with a strong manufacturing presence and a diverse product portfolio.
Initially incorporated as Jindal Polyester Limited in 1974, the company is an India-based entity primarily engaged in the production and sale of packaging films. It has diversified its operations into various business segments, evolving into a comprehensive packaging solutions provider.
The company operates through two primary segments: Flexible Packaging Film and Nonwoven Fabrics.
Jindal Poly Films is India's largest manufacturer of BOPET (bi-axially oriented polyethylene terephthalate) and BOPP (biaxially oriented polypropylene) films. Its extensive product portfolio includes:
- BOPET Films
- BOPP Films
- CPP Films (Cast Polypropylene)
- Thermal Films
- Metalized Films
- Coated Films
- Capacitor Films
These specialized films are primarily used in flexible packaging applications across various industries.
The company also produces PP-based 'Spunmelt' and 'Spunbond' Nonwoven Fabric, catering to different industrial and consumer applications.
Through its subsidiary, SMI Coated Products, Jindal Poly Films operates in the labeling solutions segment, further diversifying its offerings within the packaging ecosystem.
Jindal Poly Films' primary manufacturing plant is located at Nasik, Maharashtra. This facility is notably the world's largest integrated facility for the production of non-woven fabric, representing a significant investment in manufacturing capability and solidifying the company's position as a major player in the global nonwoven fabric market.
The company is actively expanding its manufacturing capacity through strategic investments. It has committed a capital expenditure of over ₹700 crore for new lines, which are expected to be commissioned within the next 2-3 years. This expansion includes:
- A new BOPP line with a capacity of up to 42,000 tonnes per annum.
- A new PET line with a capacity of up to 55,000 tonnes per annum.
- A new CPP line with a capacity of up to 18,000 tonnes per annum.
Jindal Poly Films Ltd maintains a strong market position, evidenced by a market capitalization of ₹2,829 crore (as of May 2025) and a high promoter holding of 74.6%, indicating strong confidence from the promoters in the business.
Recent financial performance shows mixed results amidst challenging market conditions. In the quarter ended December 2024, the company reported a net profit of ₹4.11 crore, a significant improvement from a net loss of ₹19.43 crore in the previous quarter ended December 2023. Revenue growth has shown resilience, with sales rising 26.84% to ₹1310.97 crore in the quarter ended September 2024, compared to ₹1033.54 crore in the previous quarter ended September 2023.
For the full year ended 2023, Jindal Poly Films Ltd posted a profit of ₹318.93 crore on a total income of ₹4,696.87 crore. However, the company has experienced a modest sales growth of 1.62% over the past five years, reflecting the impact of sector-wide challenges.
As of the latest available data, key financial metrics for Jindal Poly Films Limited are:
- Market Cap: ₹2,829 crore (as of May 2025)
- 52-Week High/Low: ₹1,145.50 / ₹466.15
- P/E Ratio: 9.88 (as of June 2025)
- Book Value: ₹975
- Dividend Yield: 0.92%
- ROE (last 3 years): 13.5% (considered low)
Jindal Poly Films is actively focusing on capacity expansion and market share growth. This strategic expansion is in addition to the new BOPP line announced in August 2024 and is crucial for the company to increase its market share and navigate ongoing pricing pressures resulting from demand-supply imbalances in the flexible packaging sector.
The company's expansion plans are supported by encouraging growth trends, including a year-on-year growth of approximately 43% in net revenue from operations during the 9-month period of FY24-25. These initiatives are designed to maintain its market leadership position and capitalize on future opportunities.
A recent corporate development involves operational challenges: on May 26th, a fire at a subsidiary's plant caused delays in the FY25 financial results and related party transaction disclosures. This incident has temporarily affected the company's reporting schedule and operational capacity.
Despite these challenges, Jindal Poly Films continues to assert its leadership in the packaging films industry, pursuing strategic growth initiatives to enhance its competitive standing in the flexible packaging sector.
