JINDAL POLY FILMS Share price

Our corporate origins can be traced back to 1974 with the incorporationof Hindustan Pipe Udyog Limited which manufactured galvanized electricresistance welded pipes in Ghaziabad Uttar Pradesh. In 1985 we beganmanufacturing polyester yarn and in 1992 we began producing polyesterchips for captive consumption. In mid-1990 we hived off our pipesdivision to Jindal Pipes Limited and changed the name of our company toJindal Polyester Limited. We commenced manufacturing of BOPET films atour plant at Nasik Maharashtra in 1996. In 2000 India PolyfilmsLimited and Patel Poly Products Limited amalgamated with our Company.We increased our product portfolio by starting production of BOPP filmsand metallised films at our Nasik facility in 2003. In the same yearwe acquired Rexor our French subsidiary. We adopted our current nameJindal Poly Films Limited in 2004 to reflect our current focus on theflexible packaging films business.We completed our initial public offering of shares in India in 1994.HISTORY AND CERTAIN CORPORATE MATTERSOur Company was incorporated on September 9 1974 under the CompaniesAct as Hindustan Pipe Udyog Limited and obtained its certificate ofcommencement of business on September 21 1974. On April 10 1992 thename of our Company was changed to Jindal Polyester and Steel Limited.Subsequently the name of our Company was changed to Jindal PolyesterLimited on January 17 1995 and thereafter to Jindal Poly FilmsLimited on April 19 2004. Prior to incorporation the business of ourCompany was carried out as a copartnership business in the name ofHindustan Tube Company.The registered office of our Company was shifted from 22nd MileDelhi-Hapur Road P.O. Jindal Nagar Ghaziabad Uttar Pradesh to 19thK.M. Hapur-Bulandshahr Road P.O. Gulaothi Distt. Bulandshahr UttarPradesh by shareholder's resolution dated December 20 1994.The steel business of our Company was transferred to Jindal PipesLimited with effect from April 1 1993 pursuant to a scheme ofarrangement between our Company and Jindal Pipes Limited that wasapproved by the High Court of Allahabad on April 19 1994.Further Northern Plastics & Finance Company Limited merged with ourCompany pursuant to orders of the Allahabad High Court and the DelhiHigh Court dated March 30 1995 and May 5 1995 respectively. 28884006% CCPS of Rs. 10 each fully paid up were allotted to the shareholdersof erstwhile Northern Plastics & Finance Company Limited in 1995.Northern Plastics & Finance Company Limited merged with our Companysince our Company had surplus investible funds and was desirous ofexpanding and diversifying its business.Subsequently India Poly Films Limited and Patel Poly Products Limitedwere merged with our Company pursuant to orders of the Allahabad HighCourt the Gujarat High Court and the Delhi High Court dated October11 1999 November 4 1999 and February 4 2000 respectively in orderto enable the revival of these companies and facilitate the pooling oftheir resources towards a common advantage. 12447163 CCPS(Series-III) of Rs. 10 each fully paid up were allotted on March 222000 to the shareholders and debentureholders of the erstwhile PatelPoly Products Private Limited and India Polyfilms Limited pursuant tothe aforesaid High Court orders of the High Court.Major Events:Year Event 1974 * Incorporated as Hindustan Pipe Udyog Limited with facility for manufacture of galvanized electric resistance welding pipes at Ghaziabad U.P.1985 * Commenced manufacturing of POY at Gulaothi Bulandshahr U.P.1991 * Achieved a gross sale turnover of approximately Rs. 1000 million in Fiscal 1991.1993 * Backward integration into manufacturing of Polyester Chips for captive consumption.1994 * The pipes division was hived off to Jindal Pipes Limited. * Initial public offering at a price of Rs. 195 per Equity Share and listing of the Equity Shares on various stock exchanges in India1995 * Our Company's name was changed to Jindal Polyester Limited1996 * Diversified into manufacturing BOPET films at Nasik. The BOPET film line was set up as a 100% EOU but was subsequently converted under the EPCG scheme.2000 * India Polyfilms Limited and Patel Poly Products Limited were amalgamated with our Company to augment BOPET film manufacturing facilities. * Installed a new thick BOPET film manufacturing facility.2003 * Diversified into .manufacturing BOPP by commissioning a 13000 tpa three layer line and metallised films at Nasik. * Acquired Rexor France in November 2003 for Euro 8.5 million. * Achieved a gross exports turnover of approximately Rs. 1000 million in Fiscal 2003.2004 * Name changed to Jindal Poly Films Limited to reflect our Company's renewed focus on the flexible packaging films business. * Commissioned a 25000 tpa 8.7 metre wide three layer BOPET film line. * Achieved a gross sales turnover of approximately Rs. 5000 million in Fiscal 2004.2005 * A preferential allotment of 1300000 Equity Shares of Rs. 10 each at a price of Rs. 360 made to DEC. * Commissioned a 32000 tpa 8.2 metre wide 5 layer BOPP film line * Commissioned a 8.7 metre wide B film line.