Jindal Polyester Ltd (JPL), incorporated as a public limited company in Sep.'74 in the name of Hindustan Pipe Udyog, got its present name in Jan.'95. In 1974, the company set up its first unit to manufacture ERW steel pipes and tubes, black and galvanised, at Jindal Nagar (Ghaziabad district), UP. In Apr.'93, the steel unit of the company was transferred to Jindal Pipes.
The company is the largest producer of flexible packaging films in the country. The company also manufacture and sell POY and manufacture polyester chips for captive comsumption. Jindal France SAS, Rexor SAS and Hindustan Polyester Ltd are the subsidiaries of the company.
In 1985, JPL diversified into the manufacture of polypropylene filament yarn and polyester filament yarn at Gulaothi, UP. It also modernised its POY plant in 1990 to update technology and replace certain old and worn-out equipments/components. In 1992, it set up a polycondensation plant with an installed capacity of 15000 tpa for captive consumption.
During 1994-95, Northern Plastics Finance Company (NPFCL), engaged mainly in investing and dealing in securities and finance, was amalgamated with the company. JPL has also came out with a public issue in Aug.'94 to part-finance the expansion scheme and to diversify to manufacture bottle-grade chips.
During 1995-96, the company has set up a new project of bi-axially oriented polyester film at Nasik as a 100% EOU with an installed capacity of 12000 tpa. In Apr.'99, India Polyfilms and Patel Poly Products were merged with the company and all the assets and liabilities of the merged companies were transferred and vested in the company on 14th Mar. 2000.
JPL has expanded the capacity of Polyester film plant 12000 tonnes to 36000 tonnes by commissioning a new thick polyester film line in the month of December 2000. The commercial production of BOPP with a annual capacity of 13000 TPA was commissioned in 2002-03. To meet the future demand the company is planning to take some new projects like Manufacture of BOPP film with total capacity of 45000 TPA,Metalizing of Bopet Film with a capacity of 12000 TPA and to augment the Poly condensation with a total capacity of 50000 tpa etc.
During 2004-05 the company has increased the installed capacity of Biaxially Oriented Polyester/Polypropylene Film by 57000 MT and with this expansion the total installed capacity of Biaxially Oriented Polyester/Polypropylene Film has increased to 131000 MT.
During 2005 the company made a public offer by way of 100% Book Building by issuance of 83,33,325 Equity Shares of face value of Rs.10 each at a premium of Rs.350 per shares amounting to Rs.3000 Million.
During 2004-05 the company has commissioned an 8.2 metre wide, five-layer line with the capacity to produce 32000 TPA of BOPP films at Nashik Maharashtra. Further it also proposes to set up a 45000 TPA, 8.2 metre wide line to make BOPP films at Nashik, Maharashtra by August 2006. The company has also established an 8.7 metre wide thin film line at Nashik, Maharashtra. With the implementation of this line the company now has a total capacity of 86000 tonnes for Bopet film.
In August 2005 the company increased its metallising capacity by 14000 TPA to 26000 TPA at its plant in Nashik, Maharashtra. The company also proposes to install two line of 7000 TPA by September 2006. The company has already commissioned 4500 TPA capacity to manufacture PVDC, Acrylic and LTS Coated films, at Nashik. A second line with same capacity is likely to start by February 2006.
During March 2005 the name of the company was changed from Jindal Polyester Ltd to Jindal Poly Films Ltd.