Jindal Poly Films spurts on buyback plan

Jindal Poly Films spurted 15.03% to Rs 213.15 at 12:57 IST on BSE after the company said its board will meet on 14 July 2008 to consider buyback of equity shares.

The company made this announcement during trading hours today, 7 July 2008.

The stock hit a high of Rs 222.35 and a low of Rs 186.10 so far during the day. The stock had a 52-week high of Rs 349 on 3 January 2008 and a 52-week low of Rs 150 on 9 July 2007.

The company has an equity capital of Rs 28.09 crore. Face value per share is Rs 10.

The current price of Rs 213.15 discounts its Q4 March 2008 annualised EPS of Rs 38.26, by a

PE multiple of 5.57.

Jindal Poly Films’ net profit rose 19.2% to Rs 26.88 crore on 5.2% increase in net sales to Rs 332.68 crore in Q4 March 2008 over Q4 March 2007.

The company produces flexible packaging films. Flexible packaging includes materials such as plastic films, paper and aluminium foil.