- **lead** - Jindal Poly Films was incorporated in 1974 and started production of polyester yarn in 1985, but its defining move was a pivot in the mid-1990s into plastic films - a bet that transformed it into one of the world’s largest manufacturers of BOPP and BOPET films (the clear, strong wraps used in everything from snack packets to electronics), all made at what it calls the world’s largest single-location facility for these products in Nashik, Maharashtra. The recurring approach has been to build massive, integrated scale in one place, then use the cash it generates to enter adjacent, higher-growth material businesses - first nonwoven fabrics for diapers and masks, then self-adhesive labels - often restructuring ownership to bring in outside capital or to give each engine its own focused home. # Business segments Three distinct material platforms, all spun out of a single manufacturing philosophy - a packaging-film giant that now houses a global investor, a national-scale nonwoven fabrics business that became the listed company’s main identity, and a labelling unit serving brand owners - each built on the group’s core skill of running high-output, German-engineered production lines. ## 1. Packaging films: the scaled-up origin engine, now a Brookfield-backed subsidiary **A single, integrated factory in Nashik churns out over 440,000 tonnes a year of BOPP, BOPET and CPP films - the flexible wrappers and laminates behind food packs, labels and industrial tape - making it one of the largest producers globally, with a 25% minority partner in Brookfield.** - **World-scale in one location** - the Nashik plant is described as the world’s largest single-location facility for BOPET and BOPP films, with total practical capacity exceeding 440,000 tonnes per annum across base films, which creates economies of scale and a low per-unit cost of production. - **A film for every function** - the portfolio spans seven product families: BOPP films (for printability and stiffness in food packs and tape), BOPET films (for moisture and gas barrier in insulation and flexible packaging), CPP films (for high clarity and puncture resistance in confectionery and retort pouches), plus metallized, coated, thermal lamination and capacitor films, each engineered for specific barrier, optical or sealing properties. - **Raw materials tie it to crude oil** - the main inputs are PET and PP resin, both petrochemical derivatives, so finished-goods prices move with crude oil, making the business inherently cyclical and sensitive to demand-supply gaps; India’s BOPET and BOPP industry already produces more than domestic demand can absorb. - **Bought, not just built** - in June 2023, the company acquired JPF Netherlands Investment B.V., a holding company whose three subsidiaries in France, Italy and the UK make specialty, nylon, coated and metalized films for food, pharma and luxury packaging, extending its reach into European niche films. ## 2. Nonwoven fabrics: the hygiene and medical materials engine that now defines the listed company **On a standalone basis, the listed Jindal Poly Films Ltd now derives all its turnover from making polypropylene-based spunbond and spunmelt fabrics - the roll goods that become baby diapers, sanitary pads, surgical gowns and masks - on three German Reicofil lines with 60,000 tonnes of annual capacity.** - **Two fabric types, one raw material** - it makes Spunbond (SSS), a three-layered 100% polypropylene fabric balancing softness and strength, and Spunmelt (SSMMS), a five-layered version with two meltblown layers that add barrier properties against liquids and particles, both on Reicofil 4s technology from Reifenhauser, Germany. - **A single-stop shop for global brands** - the business serves multinational personal-care and medical companies from one plant in Nashik, exporting to 14 countries and holding a stack of international certifications including ISO 13485 for medical devices and Eco-Vadis silver for sustainability. - **A demerger that was pulled back** - a plan to demerge the nonwoven division into a separately listed Global Nonwovens Ltd, giving JPFL shareholders a mirror-image stake, was approved in August 2025 but the application for stock exchange no-objection letters was withdrawn in April 2026, with the company citing procedural delays and changed market conditions; the scheme had not yet reached the tribunal. ## 3. Labelling solutions: the self-adhesive platform serving brand owners **Through subsidiary Jindal SMI Coated Products, the company offers more than 200 different self-adhesive label products to the food, beverage, pharma and personal-care industries from a plant in Ambernath, Maharashtra.** - **Acquired and then consolidated** - the labelling business entered the group through the acquisition of SMI Coated Products, and was later merged with another subsidiary, Jindal Polypack, under a scheme approved by the NCLT in August 2023, simplifying the holding structure. - **A wide catalogue for brand packaging** - with over 200 self-adhesive label variants, the unit supplies the dynamic label industry across sectors including wines and spirits, food, beverages and pharma, where packaging is a key part of brand identity. # Group structure and partners **The company sits within the B.C. Jindal Group, controlled by promoter holding company Concatenate Flexi Films Advest Private Limited, and operates its three main businesses through separate subsidiaries - each with its own capital or consolidation story.** - **Packaging films lives in JPFL Films** - 99.98% owned by JPFL, with Brookfield’s SPV holding a 25% minority stake via compulsorily convertible preference shares that carry no interest and convert to equity at a pre-agreed formula, giving Brookfield downside protection tied to the subsidiary’s performance. - **Nonwovens sits in Global Nonwovens Limited** - a 100% subsidiary since JPFL bought out the entire shareholding from HENKO COMMODITIES PVT. LTD. in March 2023, consolidating full ownership of the hygiene and medical fabrics business. - **European films and solar bets sit in other wholly owned vehicles** - JPF Netherlands Investment B.V. holds the three European specialty-film subsidiaries acquired in 2023, while Jindal India Solar Energy Limited was acquired in 2021 and holds a PLI-scheme award to set up 4,000 MW of solar PV module manufacturing capacity, and Enerlite Solar Films India (an associate turned subsidiary in FY26) makes solar encapsulation film in India.