Jindal Poly Films Limited has issued a comprehensive regulatory disclosure following the dismissal of its appeal by the National Company Law Appellate Tribunal (NCLAT) on February 26, 2026. The company provided detailed information under Regulation 30 of SEBI Listing Regulations regarding the tribunal's decision.

NCLAT Order Details and Formal Disclosure

The NCLAT dismissed Company Appeal (AT) No. 47 of 2026 filed by Jindal Poly Films Limited against Mr. Ankit Jain, Mrs. Rina Virendra Jain, and Mrs. Ruchi Jain Hanasoge on February 26, 2026. The company received the order on the same date and issued a formal disclosure on February 27, 2026, signed by Company Secretary Rashmi Gupta (FCS 8616).

Financial Implications and Current Status

The company stated that as the matter remains sub-judice before the NCLT, no financial implications can be ascertained at this stage. Jindal Poly Films committed to disclosing any financial implications pursuant to future NCLT orders as and when directed. The company confirmed no penalties, restrictions, or sanctions have been imposed pursuant to the NCLAT communication.

Company's Response and Next Steps

In its formal disclosure, Jindal Poly Films revealed that it is reviewing the order passed by the NCLAT and will decide on the next steps accordingly. The company confirmed it has not entered into any settlement discussions and maintains that no aberrations or non-compliances were identified by the authority.

Stock Exchange Communication

The disclosure was submitted to both NSE (Symbol: JINDALPOLY) and BSE (Scrip Code: 500227) in continuation of the company's earlier letter dated February 6, 2026. The company reaffirmed its commitment to comply with all provisions under SEBI Listing Regulations and provide timely disclosures of any developments related to the matter.

Jindal Poly Films Limited's Board of Directors approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, following a meeting that commenced on February 13, 2026 and concluded on February 14, 2026. The company submitted these results under Regulation 33 of SEBI Listing Regulations, demonstrating contrasting performance between standalone profitability and consolidated losses.

Board Meeting and Regulatory Compliance

The Board meeting commenced at 07:00 P.M. (IST) on February 13, 2026 and concluded at 04:00 A.M. (IST) on February 14, 2026. Company Secretary Rashmi Gupta submitted the approved financial results to both National Stock Exchange of India Limited and BSE Limited, along with Limited Review Reports from Statutory Auditors Singhi & Co.

Standalone Financial Performance

The company's standalone operations demonstrated remarkable improvement with significant turnaround in profitability metrics for Q3FY26.

For the nine-month period, standalone operations generated net profit of Rs. 15,293.77 lakhs compared to Rs. 37,930.94 lakhs in the corresponding previous period. The substantial income increase was primarily driven by other income of Rs. 35,498.09 lakhs, reflecting returns from financial investments.

Consolidated Results Show Contrasting Performance

The consolidated financial results presented a different scenario, with the company reporting significant losses across key operational metrics.

Fire Incident Impact and Assessment

A major fire incident at the company's manufacturing plant in Nashik, Maharashtra on May 21, 2025, significantly affected performance. The fire caused substantial damage to property, plant and equipment, buildings, and inventory including raw materials, stores and spares, and finished goods.

During Q3FY26, the company deposited Rs. 8,224 lakhs with the GST department on a provisional basis and under protest, related to destroyed assets. Management continues assessing total losses from the incident, with necessary adjustments to be recognized upon completion of assessment.

Discontinued Operations and Demerger Scheme

The Board approved a Scheme of Demerger on August 14, 2025, for transferring the nonwoven business to Global Nonwovens Limited as a going concern with appointed date of April 1, 2025. This scheme remains pending approval from NCLT and other authorities.

Labour Code Impact

With effect from November 21, 2025, the Government of India brought four Labour Codes into force. The company recognized Rs. 4.06 lakhs under exceptional items for continuing operations and Rs. 44.42 lakhs for discontinued operations as impact of New Labour Codes towards additional liability as past service cost. The consolidated results show Rs. 241.78 lakhs recognized under exceptional items for the same impact.