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Jindal Poly Films Ltd. Company History and Annual Growth Details

1974 - The company was incorporated on 9th September as a Public
Limited Company under the name of Hindustan Pipe Udyog Limited
and obtained the certificate of commencement of business on
21st September. The Company was promoted by the Jindal group of

- The company first set up a unit for manufacture of ERW Steel
Pipes & Tubes, Black & Galvanised, at Jindal Nagar, District
Ghaziabad, U.P.

1985 - The company diversified its activities by setting up a unit for
the manufacture of Polypropylene Filament Yarn and Polyester
Filament Yarn at Gulaothi, U.P. with an installed capacity of
1200 TPA. The capacity of this plant was increased to 2400 TPA
in 1987, 4800 TPA in 1989, 7800 TPA in 1991 and 10,800 TPA in

1990 - The company also took-up modernisation of its Poly plant to
updated its technology and replace certain old and worn-out

1992 - The Company set up a Polycondensation Plant with an installed
capacity of 15000 TPA of Polyester Chips for captive consumption.

1994 - As consideration for the transfer, the Company was allotted
75,000 No. of equity shares of Jindal Pipes Ltd. of Rs 100 each
at a premium aggregating to Rs 843 lakhs. The Company undertook
modernisation-cum-expansion balancing scheme for Company's
existing POY plant at Gulaothi.

- The Company also undertook to diversify into manufacture of solid
state poly condensation chips. It was also proposed to enhance
the existing POY capacity from 10,800 TPA to 18,000 TPA by
installing certain balancing equipments and replacement of old
equipments with the latest technology equipments.

- It was also proposed to diversify into manufacture of high value
addition solid state polycondensation chips (SSS) i.e. bottle
grade, mono-filament grade and film grade by installation of
additional equipments. In addition, the Company proposed to
manufacture of polyester polymer chips suitable for PET bottles
as mono filament yarn.

- For polycondensation, an additional polycondensation plant with a
capacity of 10 tonnes per day was installed.

- Northern Plastic Co. Ltd., in the business of inventing and
dealing in securities and financing was amalgamated with the
Company effective 1st December. As per the amalgamation scheme,
the erstwhile shareholder of Northern Plastics were allotted
28,88,400 - 6% convertible cumulative preference shares of Rs 10

- 81,40,000-6% cumulative preference shares of Rs 10 and 46,20,000
No. of equity shares of Rs 10 issued, subscribed and paid up.
15,50,000 Equity shares were issued at a premium of Rs 185 per
share through a prospectus of which 7,500 shares reserved for
allotment to permanent employees of the Company. Balance
15,42,500 shares issued to the public.

1995 - The name of the Company was changed from Jindal Polyester & Steel
Ltd., to Jindal Polyester Ltd. effective 17th January.

1996 - 61,70,000 bonus equity shares issued in prop. 1:1 on 8th August.

1997 - The company, the capacity utilisation at the company's grass root
BOPET film project set up at Nasik has been considerably low
during the year, due to initial stabilisation as well as
slackness in demand for BOPET film in the international market
resulting in an unabsorbed interest cost of Rs.10 crores and
depreciation of Rs.8 crores, thereby affecting overall
profitability for the year.

1998 - Apart from Reliance Inds., the company is the only stock which is
still above its base value.

- The company was planning the merger of M/s. India Polyfilms Ltd.
and M/s. Patel Polyproducts Ltd. with the company w.e.f. 1st
April 1999.

1999 - Jindal Polyster Ltd (JPL) is considering to introduce Employees
Stock Option Plan (ESOP). The company will issue ten lakh equity
shares of nominal values of Rs 10 each to employees, including
executive and non-executive directors.

- The JPL has thus become the second company in the country after
Kinetic Motors Ltd to take advantage of the Securities and
Exchange Board of India (Sebi) guidelines allowing the companies
to make applicable the scheme of ESOP to its employees.

- The scheme of amalgamation of India Polyfilms Ltd and Patel
Polyproducts Ltd with the company has been approved by the High
Court of Uttar Pradesh.

2000 - The company has decided to set up a new unit at Noida Export
Processing Zone for the purpose of processing, converting and
exporting software.

- The company has decided to set up a new unit at Noida Export
Processing Zone for the purpose of processing, converting and
exporting software.

- Issue of 6,60,00,000 Opt. con. pref. shares of Rs 10 each at a premium
of Rs 5 each aggregating Rs 5 each aggregating Rs 99,00,00,000 in favour
of Jindal Photo Films Ltd. against its loan and advances.

- Jindal Polyester Ltd has informed that Sh. Nvpks. R. Murthy, Director (Technical) has resigned from the Board. Mr. Kedar Anandrao Deshpande has joined the Board as Director (Technical).


-Jindal Photo acquires 1,50,00,000 optionally convertible preference shares of the company.

-Sh Nvpks R Murthy, Director resigns from the Board. Mr Kedar Anandroa deshpande joins as the Director on the Board of the company.

-Appoints Mr Shyam Sunder Jindal as the Additional Director of the company.


-Allots 5% optionally convertible preference shares on preferential basis to Jindal Photo Films Ltd.

-Board approves to acquire REXOR GROUP.

-Members approve for the following:
Appointment of Sameer Banerjee as the Director Marketing.
Increase in Authorised capital from Rs.1580mn to Rs.1900 mn.
Delisting of company's shares from UP, Delhi, Calcutta and Ahmedabad Stock Exchanges.


-Jindal Polyester Ltd has informed that shares of the company have been delisted from the following stock exchanges : i) U P Stock Exchange w.e.f. January 30, 2004; ii) Delhi Stock Exchange w.e.f. February 11, 2004.


-Mr. L. P. Soni, Fellow Member of the Institute of Company Secretaries of India, (Membership No. 2213) has been appointed as Company Secretary of the Company.