- **lead** - Jyoti Global Plast began in 1990 as a plastic packaging moulder and, over 35 years, has repeatedly used its core skill in precision plastic and composite engineering to enter adjacent, higher-technology markets - most recently unmanned aerial systems and defence components. The company was incorporated as Jyoti Polycontainers Private Limited on January 06, 2004, converted to a public company in December 2024, and listed on the NSE SME Exchange in August 2025. That recurring pattern - master a manufacturing process, then find a new application that demands it - is the thread that runs from its packaging drums to its tactical drones. # Business segments A single manufacturing platform producing precision-moulded plastic and composite parts, now serving four distinct customer end-markets - industrial packaging, automotive, consumer toys, and defence and aerospace - with a fast-growing unmanned systems division layered on top. ## 1. Industrial and consumer packaging: the moulding foundation **The company makes the containers that chemicals, pharmaceuticals and food companies use to store and ship their products - drums, carboys, jerrycans, pails and bottles - all from HDPE and PP plastic, and it is ranked among the top three in Maharashtra doing it.** - **Widest range under one roof** - it offers drums, carboys, jerrycans, barrels, pail buckets, bottles, jars and caps, all made to client specifications, so a chemical company can source every container type from a single supplier. - **Two moulding technologies, one factory floor** - blow moulding shapes hollow containers like drums and bottles; injection moulding produces solid items like pail buckets, sometimes on a job-work basis where the customer pays only for the manufacturing service. - **Capacity built over two decades** - commercial production started in 2005, and the company now runs two manufacturing units in Rabale, Navi Mumbai, with a combined annual capacity of 7,416 metric tonnes. - **A fragmented battlefield** - the Indian plastics industry has more than 30,000 companies, so the top-three ranking in Maharashtra is a signal of scale and customer trust in a market where most competitors are small. ## 2. Automotive components: precision parts for vehicle makers **The same injection-moulding lines that produce packaging also turn out durable plastic parts for automotive customers, using the company's expertise in HDPP (high-density polypropylene) grades.** - **Made on existing lines** - automotive parts are produced using the injection moulding technology already installed for packaging, which means the company serves this segment without dedicating separate factories to it. - **Custom-engineered for each client** - the company works closely with automotive customers to understand their specific requirements and then optimises the manufacturing process for quality, speed and cost, the same collaborative approach it applies across all its businesses. ## 3. Toys and childcare products: moulding for the consumer shelf **The company uses its blow-moulding and injection-moulding capabilities to manufacture plastic toys and childcare items - a segment that demands the same precision as industrial containers but with consumer-grade finishes and safety standards.** - **Same process, different buyer** - toys and childcare products are made from the same HDPE-PP material family and on the same equipment as packaging, so the diversification adds revenue without requiring a separate production infrastructure. - **100% made in India** - every product across the company's range, including toys, is manufactured domestically, which matters to customers and policymakers in a segment often dominated by imports. ## 4. Defence and aerospace components: the composite leap **The company has begun manufacturing high-performance FRP (fibre-reinforced polymer) parts - cable connectors, lightweight drone structures and rugged enclosures - for defence and aerospace applications, translating its 35-year plastics heritage into a material that is stronger than steel by weight.** - **FRP is the new capability** - unlike the packaging and auto businesses which use conventional HDPE and PP, this segment works with fibre-reinforced polymers, a composite material that combines plastic resin with reinforcing fibres to create parts that are both light and exceptionally strong. - **In discussions with defence organisations** - the company is actively pursuing collaborations with defence and aerospace bodies for FRP-based drone and aerospace components, signalling that this is a deliberate strategic entry rather than opportunistic job work. - **The MoA was rewritten for this** - in January 2026, shareholders approved an amendment to the company's constitutional documents authorising it to operate across defence, aerospace, space, aviation and emerging-technology sectors, covering everything from design through to lifecycle support. ## 5. Unmanned aerial systems: the drone platform **The company designs, builds and sells drones for surveillance, industrial cleaning, agriculture and tactical military use - a business that combines its FRP manufacturing capability with in-house electronics and flight-control development, and that is now expanding into drone-enabled services through a joint venture.** - **Four drone families launched in four months** - between October 2025 and January 2026, the company introduced a surveillance drone with dual day-and-thermal cameras, the AeroClean industrial cleaning drone (200 bar pressure, 10 kg fluid payload), the AeroCrop agricultural drone (10-litre tank, up to 30 acres per day), and the AeroDrop military-grade tactical UAV with a 7 kg payload capacity and an automatic release mechanism. - **Roughly three-quarters built in-house** - approximately 75% of the AeroDrop platform is indigenously developed, including the flight controller, GNSS (satellite navigation system), ground control station, fibre-optic communication system and battery, which reduces dependence on imported subsystems. - **Fibre-optic link defeats jamming** - the AeroDrop offers an optional optical fibre-based communication system that makes it resilient against electronic jamming and interference, a feature that matters in contested military environments where radio signals can be disrupted. - **A Bengaluru integration hub** - in January 2026, the company leased a facility in Mahadevapura, Bengaluru, on a three-year agreement to establish a dedicated Drone Integration and Development Unit for assembling, testing and deploying unmanned aerial vehicles. - **Services, not just hardware** - through a 50:50 joint venture with Droneiq Aeronext LLP, formed in March 2026, the company is entering drone-enabled services: façade and solar-panel cleaning, infrastructure inspection, surveillance, and aerial advertising using an LED display format under a Drone Advertising-as-a-Service model where brands pay for campaigns without owning any hardware. # Group structure and partners **Jyoti Global Plast is a tightly held, promoter-controlled company with no legacy subsidiaries - its only structural partnership is the recently formed drone-services joint venture.** - **Three equal promoters** - Bhawanji Shah, Hiren Shah and Deven Shah each hold approximately one-third of the company, and their combined shareholding remained unchanged through the reporting period. - **No subsidiaries or associates** - as of the FY25 annual report, the company had no subsidiaries, associates or joint ventures, making it a single-entity operating company. - **One joint venture, equal control** - Jyoti Aeronext Private Limited, the 50:50 JV with Droneiq Aeronext LLP, gives each partner equal rights to appoint and remove directors and a first right to subscribe to new shares; JGPL brings manufacturing expertise, Droneiq brings drone-operations capability, and neither party holds a stake in the other.