With a market capitalization of Rs 3,103 crores, Shares of Jindal Poly Films skyrocketed over 11 percent on June 8, to an intraday high of Rs 749.05, and closed at  4.5% higher than the previous close price.

This stunning stock price movement occurred after the business announced the purchase of a stake in the Netherlands-based JPF Netherlands Investment through its subsidiaries.

According to the exchange filing, the Company board of directors entered into an agreement to acquire the 100% shareholding of JPF Netherlands Investment, which is engaged in the business of packaging films business. The acquisition is expected to cost Rs 396 crore. 

Through this acquisition, the company gets enhanced capabilities and resources in their products and services as well as that complement existing strengths and enhance the broader market.

Jindal Poly Films Limited is engaged in the manufacturing of biaxially oriented polyethylene terephthalate (BOPET) and biaxially oriented polypropylene (BOPP) films as well as thermal coated films in India. These Films are extensively used for food packaging to ensure good appeal, product protection, and extended shelf life.

The stock has risen by 22.16 percent in the previous three months, from Rs 580.25 to its current levels.

On a YoY comparison of the metrics, Revenues declined from Rs 5,877 crores in FY 21-22 to Rs 4,627 crores in FY 22-23, Within the same time period, the net profit was reduced from Rs 1,196 crores to Rs 321 crores.

As per the shareholding pattern, promoters of the company hold a 74.55 percent stake, and Foreign institutional investors(FIIs) have a 3.42  percent stake in the company for FY 22-23.

Written by Omkar C


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