Jindal Poly Films has issued a clarification regarding the admission of a petition filed by minority shareholders under Section 245 of the Companies Act, 2013. The development follows a verification inquiry from BSE Limited dated February 06, 2026, seeking clarification on media reports about the company.

NCLT Petition Details

The National Company Law Tribunal (NCLT) Principal Bench, New Delhi has admitted the petition through its order dated February 05, 2026. The petition details are as follows:

Company's Response and Legal Action

Following the NCLT's admission of the petition, Jindal Poly Films has taken immediate legal recourse. The company has filed an appeal along with a stay application before the National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi. This move indicates the company's intention to challenge the NCLT's decision at the appellate level.

Regulatory Compliance and Disclosure

The company has emphasized its commitment to regulatory compliance and transparency. Key aspects of their disclosure include:

• All necessary information has been disclosed to stock exchanges as mandated under law
• The company undertakes to notify exchanges regarding any future developments in the dispute
• Future notifications will be made under Regulation 30 of SEBI (LODR) Regulations, 2015
• The clarification was issued in response to BSE's verification inquiry dated February 06, 2026

The communication was signed by Prakash Matai, Director of the company (DIN: 07906108), and submitted to BSE Limited's Listing Compliance & Operations Team. The company has assured stakeholders that it will continue to provide updates on any material developments related to this legal matter as required under regulatory frameworks.

Jindal Poly Films Limited announced its unaudited financial results for the second quarter and first half of fiscal year 2026, following the board meeting held on December 31, 2025. The company reported challenging performance with significant losses in continuing operations while progressing with its strategic demerger plans.

Board Meeting and Regulatory Compliance

The board meeting was conducted in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under Regulation 33 for quarterly results disclosure. The meeting details are summarized below:

Financial Performance Overview

The company's consolidated results for Q2FY26 show a mixed performance across continuing and discontinued operations:

Segment-wise Performance

The packaging films segment, which forms the core business, experienced significant challenges during the quarter. Revenue from packaging films declined to ₹34,520.71 crores compared to ₹84,346.31 crores in the previous quarter, representing a substantial 59.08% sequential decline.

Strategic Demerger Initiative

A significant development during the period was the board's earlier approval on August 14, 2025, of the Scheme of Demerger for the non-woven business. The demerger involves transferring the non-woven business undertaking to Global Nonwovens Limited as a going concern, with an appointed date of April 1, 2025. This scheme is currently pending approval from the National Company Law Tribunal (NCLT) and other regulatory authorities.

Auditor's Review and Compliance

Singhi & Co., Chartered Accountants, conducted the statutory review of both standalone and consolidated financial results. The auditors issued limited review reports highlighting certain matters, including a fire incident at a subsidiary's plant in Nashik, Maharashtra, which resulted in substantial damage to property, plant, equipment, and inventories. The assessment of losses from this incident is ongoing.

Financial Position and Outlook

The company's total assets stood at ₹10,49,234.96 crores as of September 30, 2025, compared to ₹10,95,129.74 crores as of March 31, 2025. The equity share capital remained stable at ₹4,378.64 crores, while the company continues to maintain substantial financial assets from accumulated cash flows and previous business divestments.