Jindal Poly Films Ltd Stock Analysis

BSE: 500227 | NSE: JINDALPOLY | Plastic Products | Small Cap

BSE Share Price 23-Sep-2022 18:01
919.25 -7.25 (-0.78%)

DeciZen - Make an Informed Decision on Jindal Poly Films

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Jindal Poly Films Price Chart

P/E Ratio (SA) :
3.14
Market Cap :
4,025.1 Cr.
52-wk low :
877.9
52-wk high :
1,444.4
Bole Toh?

1. Is Jindal Poly Films Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Jindal Poly Films Ltd is a average quality company.

2. Is Jindal Poly Films Ltd undervalued or overvalued?

The key valuation ratios of Jindal Poly Films Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Jindal Poly Films Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Jindal Poly Films Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Jindal Poly Films:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Jindal Poly Films Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 2.1%7.9%9.7%9.8%4.6%6.1%1.3%19%24.4%27.7%-
Value Creation Index -0.9-0.4-0.3-0.3-0.7-0.6-0.90.40.71.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,2322,6312,7752,6442,5922,9513,5963,5304,0755,8696,044
YoY Gr. Rt. %-17.9%5.5%-4.7%-2%13.8%21.9%-1.8%15.4%44%-
Adj EPS 32337.244.718290.6108.8175.8262.5292.4
YoY Gr. Rt. %-678.6%62%20.1%-59.7%60.8%-97.9%17440.3%61.7%49.3%-
BVPS (₹) 268.6299.4352.3394.3412414.5333.2411.5590.2861.4934.2
Adj Net Profit 12.496.616319678.91272.74767701,1501,280
Cash Flow from Ops. 88.238082.6269301288455355897730-
Debt/CF from Ops. 6.61.36.72.83.53.42.43.911.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.3%17.8%17.7%44%
Adj EPS 64.7%70.9%650.9%49.3%
BVPS 13.815.937.346
Share Price 17.9% 20% 56.4% -8.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 0.98.111.6124.570.229.235.136.232.6
Op. Profit Mgn % 6.511.110.713.58.610.11218.727.124.424.2
Net Profit Mgn % 0.63.75.97.434.30.113.518.919.621.2
Debt to Equity 0.50.40.40.40.60.50.70.80.30.3-
Working Cap Days 163146118931001111021041091120
Cash Conv. Cycle 413323232631323332330

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 17.74%

Net Profit is growing at healthy rate in last 3 years 650.93%

Sales growth is good in last 4 quarters at 30.79%

Return on Equity has declined versus last 3 years average to 32.60%

Latest Financials - Jindal Poly Films Ltd.

Standalone Consolidated
TTM EPS (₹) 292.4 292.2
TTM Sales (₹ Cr.) 6,044 6,129
BVPS (₹.) 934.2 947.4
Reserves (₹ Cr.) 4,047 4,105
P/BV 0.98 0.97
PE 3.14 3.14
From the Market
52 Week Low / High (₹) 877.85 / 1444.40
All Time Low / High (₹) 9.05 / 1444.40
Market Cap (₹ Cr.) 4,025
Equity (₹ Cr.) 43.8
Face Value (₹) 10
Industry PE 21.6

Management X-Ray of Jindal Poly Films :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Jindal Poly Films

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About Jindal Poly Films Ltd

Jindal Poly Films (JPFL) is a part of Rs 30 billion B C Jindal group, a 50-year old industrial group offering a wide range of products. The group has promoted a number of companies over the years and is involved in diverse activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

JPFL is the largest manufacturer of BOPET and BOPP films in India. The company produces BOPET film, BOPP film, metalized BOPET film and BOPP film, coated BOPET and BOPP films, polyester chips (for captive consumption in the BOPET film)

From being only a polyester yarn producer in 1985, JPFL diversified in 1996 into BOPET film production. In 2003, JPFL commenced production of BOPP film and metallised film. JPFL commenced production of coated film products by July 2005. JPFL capabilities were strengthened by the acquisition in November 2003 of Rexor SAS, in France, which produces metallised and coated films as well as tear tape, stamping foil, security thread and other high-value products. JPFL plant at Nasik, Maharashtra is the world’s largest single location plant for the manufacture of BOPET and BOPP films.

The company is the world's 5th largest BOPET Film manufacturers in the world. It is in the league of top five producers of BOPP Films in the world after the expansion.

Rexor makes and sells a broad range of metallised and coated BOPET films for preserving food products and is a market leading producer of “tear tape” for easy opening of cheese portions and laminated films used in the packaging of luxury products such as cosmetics and perfumes. It is the leading independent producer of security threads for bank notes. The company also produces film for decoration, insulation, aeronautics and sun protection. It holds proprietary technologies for laser demetallisation of security threads and other bank note security applications and for slitting films into widths as short as 0.20 millimeters.

In 2012 Jindal Poly Films entered into an agreement with ExxonMobil Chemical (ExxonMobil) to purchase ExxonMobil's BOPP Global Film business.

Milestones:

• 1985 Commenced manufacturing of POY at Gulahoti, Bulandshahar, UP.

• 1992 Backward integration into manufacturing of polyester chips for captive consumption

• 1996 Diversified into manufacturing BOPET films at Nasik.

• 2000 Installed a new thick BOPET film manufacturing facility 

• 2003 Diversified into manufacturing BOPP and metallised films at Nasik. Acquired Rexor, France in November 2003 for Euro 8.5 million 

• 2005 Started second 8.7 meters width BOPET films line with a capacity of 25000 tonnes per annum. Started 5 Layer 8.2 meters width BOPP films line with a capacity of 32000 tonnes per annum.

• 2006 Started second 8.2 meters width BOPP films with a capacity of 45000 tonnes per annum.

• 2007 Started 3rd 8.2 meters width BOPP line with a capacity of 45000 tonnes per annum.

• 2009 Started two 8.7 mtrs width BOPP lines with a capacity of 45000 tpa each.
• 2010 Started 3rd 8.7 mtrs BOPET line with a capacity of 30000 tpa.
* Between 2003-2011 -----9 Metallizer have been installed with a total capacity of 53640 tpa.

Products:

1. PET Films

Polyester film commonly known as PET film is a versatile film, which has a vast range of applications. The film provides a strong barrier to moisture, odour and gases making it suitable for use in flexible packaging. Its high tensile strength, thermal and chemical stability makes it suitable for a multitude of applications in electric insulation, office supplies, graphic arts, magnetic media imaging, metallic yarn and industrial applications.

2. BOPP Films

Polypropylene film commonly known as BOPP is widely used for food packaging, textile bags, overwraps for cigarette and personal products, adhesive tapes and labels. BOPP film possesses dimensional stability, high tensile strength, good stiffness, high clarity, excellent printability and most importantly, heat sealability.

3. Metalized Films 

JPFL has four wide width metallizers with plasma treatment facilities for enhanced shelf life and barrier properties. Two more metallizers of 2850 mm width are being installed by Jan & March 2008.

4. Coated Films 

As a part of the forward integration of BOPP and PET Films, JPFL installed two coating lines for manufacturing of entire range of specialty coated films like PVdC, Acrylic, Low Temperature Seal and High Seal Integrity coatings.  

5. Poly Chips

Jindal Group stands for the highest Polyester films, polyester chips and resins production facilities, with plants located at Nasik to cater to captive consumption.

Expansion Plans:

• One 8.7 meters wide 25000 tonnes per annum capacity BOPET film by June 2009.

• Two 8.7 meters wide with a capacity of 60000 tonnes per annum BOPP films by 2009-10.

• Two expansion coating lines with a capacity of 9000 MT in mid 2009.

• Two more metalizer with a capacity of 20000 tonnes per annum in 2010.

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