Jindal Poly Films to raise Rs 2K cr, FY'10 net zooms 95%

Jindal Poly Films, the producer of flexible packaging films, today said it plans to raise up to Rs 2,000 crore by issuing securities in the domestic and international markets.

"We foresee tremendous growth in the flexible packaging sector as well as in our company’s growth in the next few years. We expect higher profit margins and better return on investments," the company said in a statement.

Besides, the company has posted a whopping growth rate of 95 per cent in consolidated net profit at Rs 204 crore, for the financial year ended March 31, 2010, it said.

The company had a net profit of Rs 105 crore in the same period last year.

The board of the company, yesterday, proposed a 100 per cent dividend for its shareholders and recommended the issue of fully paid up bonus equity shares in the ratio of 1:1 to the shareholders of the company.

Shares of the company settled at Rs 983.90 on the BSE, up 0.28 per cent at the end of the trade on Friday.