Jindal Poly Films' subsidiary to undertake Rs 700 crore capex for setting up new film lines
Jindal Poly Films said that its subsidiary JPFL Films would set up new BOPP, PET and CPP lines in Nashik, Maharashtra, as part of its capacity addition plans.
The new lines, expected to be commissioned in next 2-3 years time, will see a capex commitment of above Rs 700 crore.
JPFL Films would set up a new BOPP line to have a capacity of upto 42,000 tonne per annum, a new PET line to have a capacity of upto 55,000 tonne per annum and a new CPP line to have a capacity of upto 18,000 tonne per annum.
Jindal Poly Films stated that this capacity expansion is in addition to its ongoing new BOPP line which was announced in the month of August, 2024 and is part of the companys strategic play in the flexible packaging segment and in line with the companys aim to increase market share amidst challenging demand-supply imbalances leading to ongoing pricing pressures in the sector.
The expansion comes with the YoY growth of around 43% in net revenue from operations in 9 months period FY 24-25 and to maintain its market leadership despite business headwinds.
Flexible packaging, or packaging in general, is regarded as one of the most lucrative industries due to its wide applicability in the food and beverage, personal care, and pharmaceutical industries.
These new lines will be the most advanced in the market, boasting superior width and output capabilities, along with exceptional reliability, equipment quality, process efficiency, technological advancement, quality enhancement to achieve customer satisfaction and strengthening its market position, Jindal Poly Films stated.
Jindal Poly Films, part of the BC Jindal group, manufactures polyester chips and the complete range of packaging films comprising BOPET, BOPP and non-woven fabrics.
The scrip advanced 0.85% to currently trade at Rs 669.00 on the BSE.
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