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MarketLine Company Report

JBF Industries Ltd

Mumbai Stock Exchange (514034)

May 2023

REFERENCE CODE: BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C

PUBLICATION DATE: May 2023
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COMPANY SNAPSHOT

COMPANY SNAPSHOT

Reference Code : BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C Publication Date: May 2023

JBF Industries Ltd Fax: 91 22 22886393

8th Floor,, Express Tower, Nariman Point Phone: 91 22 22885959

Mumbai Website: www.jbfindia.com

India Industry: Chemicals

400021

Overview
JBF Industries Ltd (JBF) operates as a manufacturer of polyester chips. The company also manufactures partially
oriented yarn (POY), polyester (BOPET) film and also various types of bottle grade. Its product line comprises of
polyester chips, which include textile grade and film grade chips; bottle grade pet, which includes aryapet; partially
oriented yarns (POY) with raw white semi dull round, dope dyed black round, and cationic POY sd round and full
dull POY sd round. JBF also offers fully drawn yarn including semi-dull and super bright Trilobal; and polyester
textured yarn and sewing thread. The company operates in India, Singapore, the US, Brazil, Belgium and Bahrain.
JBF is headquartered in Mumbai, Maharashtra, India.

The company reported revenues of (Rupee) INR32,722.3 million for the fiscal year ended March 2022 (FY2022),
an increase of 48.4% over FY2021. The operating loss of the company was INR9,394.7 million in FY2022,
compared to an operating profit of INR425.5 million in FY2021. The net loss of the company was INR11,704.7
million in FY2022, compared to a net loss of INR1,935.3 million in FY2021.
The company reported revenues of INR424.7 million for the third quarter ended December 2022, a
decrease of 92.5% over the previous quarter.

Key Employees

Employee Name Job Title Board

Seetharam N. Shetty Chairman, Director Executive Board

Ujjwala Apte Director, Secretary Executive Board

Pravin Prajapati Chief Financial Officer Senior Management

Bhagirath C Arya Director Non Executive Board

Recent Developments

Date Headline Category

JBF Industries Announcement of Appointment Of Chief Corporate Governance-->Management

Apr 12, 2023
Financial Officer change

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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COMPANY SNAPSHOT

JBF Industries Announces Unaudited Financial Results for

Nov 7, 2022 Financial Performance
the Quarter Ended on 30th June, 2022

JBF Industries Announces Unaudited Financial Results For

Nov 1, 2021 Financial Performance
Quarter And Half Year Ended 30Th September, 2021

Jbf Industries announces Financial Results For The

Feb 12, 2021 Financial Performance
Quarter Ended 30Th December, 2020

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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TABLE OF CONTENTS

TABLE OF CONTENTS

Company Snapshot ____________________________________________________________________ 2

Table of Contents _____________________________________________________________________ 4
JBF Industries Ltd: Company Overview __________________________________________________ 6
JBF Industries Ltd: Overview and Key Facts___________________________________________ 6
JBF Industries Ltd: Overview ___________________________________________________________ 6
JBF Industries Ltd: Key Facts ___________________________________________________________ 6
JBF Industries Ltd: Key Employees __________________________________________________ 7
JBF Industries Ltd: Key Employee Biographies ________________________________________ 8
JBF Industries Ltd: Major Products and Services ______________________________________ 9
JBF Industries Ltd: Company History _______________________________________________ 10
JBF Industries Ltd: Locations and Subsidiaries _______________________________________ 11
JBF Industries Ltd: Key Competitors ________________________________________________ 12
JBF Industries Ltd: Company Analysis __________________________________________________ 13
JBF Industries Ltd: Business Description ____________________________________________ 13
JBF Industries Ltd: Top Deals 2019 - 2023YTD* _______________________________________ 14
JBF Industries Ltd: Recent Developments _______________________________________________ 15
JBF Industries Ltd: News and Events Summary _______________________________________ 15
JBF Industries Ltd: Corporate Governance ___________________________________________ 15
JBF Industries Ltd: Financial Performance ___________________________________________ 16
JBF Industries Ltd: Regulatory and Legal Events _____________________________________ 16
Appendix ___________________________________________________________________________ 18
Contact Us ______________________________________________________________________ 18
Methodology _____________________________________________________________________ 18
About MarketLine ________________________________________________________________ 19

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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 TABLE OF CONTENTS

LIST OF TABLES

Table 1: JBF Industries Ltd: Key Facts .................................................................................................................................. 6

Table 2: JBF Industries Ltd: Key Employees ......................................................................................................................... 7

Table 3: JBF Industries Ltd: Company History .................................................................................................................... 10

Table 4: JBF Industries Ltd: Locations and Subsidiaries ................................................................................................... 11

Table 5: JBF Industries Ltd: Key Competitors ..................................................................................................................... 12

Table 6: JBF Industries Ltd: Top Deals 2019 - 2023YTD*.................................................................................................... 14

Table 7: JBF Industries Ltd: News and Events Summary ................................................................................................... 15

Table 8: JBF Industries Ltd: Corporate Governance ........................................................................................................... 16

Table 9: JBF Industries Ltd: Financial Performance ........................................................................................................... 16

Table 10: JBF Industries Ltd: Regulatory and Legal Events .............................................................................................. 16

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Overview and Key Facts

JBF Industries Ltd: Overview

JBF Industries Ltd (JBF) operates as a manufacturer of polyester chips. The company also manufactures
partially oriented yarn (POY), polyester (BOPET) film and also various types of bottle grade. Its product line
comprises of polyester chips, which include textile grade and film grade chips; bottle grade pet, which includes
aryapet; partially oriented yarns (POY) with raw white semi dull round, dope dyed black round, and cationic POY
sd round and full dull POY sd round. JBF also offers fully drawn yarn including semi-dull and super bright
Trilobal; and polyester textured yarn and sewing thread. The company operates in India, Singapore, the US,
Brazil, Belgium and Bahrain. JBF is headquartered in Mumbai, Maharashtra, India.

The company reported revenues of (Rupee) INR32,722.3 million for the fiscal year ended March 2022 (FY2022),
an increase of 48.4% over FY2021. The operating loss of the company was INR9,394.7 million in FY2022,
compared to an operating profit of INR425.5 million in FY2021. The net loss of the company was INR11,704.7
million in FY2022, compared to a net loss of INR1,935.3 million in FY2021.

The company reported revenues of INR424.7 million for the third quarter ended December 2022, a decrease of
92.5% over the previous quarter.

JBF Industries Ltd: Key Facts

Table 1: JBF Industries Ltd: Key Facts

Corporate Address: 8th Floor,, Express Tower, Nariman Point

Mumbai

Country: India

400021

Fax: 91 22 22886393

Phone: 91 22 22885959

Web Address: www.jbfindia.com

Turnover (US$m): 443

Employees: 2,428

Industry: Chemicals

Primary Stock Exchange (Ticker): Mumbai Stock Exchange (514034)

SOURCE: MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Key Employees

Table 2: JBF Industries Ltd: Key Employees

Employee Name Job Title Board Since

Seetharam N. Shetty Chairman, Director Executive Board

Ujjwala Apte Director, Secretary Executive Board 2019

Pravin Prajapati Chief Financial Officer Senior Management 2023

Bhagirath C Arya Director Non Executive Board 2020

Bindu Darshan Shah Director Non Executive Board 2023

Ravi A. Dalmia Director Non Executive Board 2018

Sangita V. Chudiwala Director Non Executive Board 2017

Satish Mathur Director Non Executive Board

Suresh Choudhary Director Non Executive Board

Yash Gupta Director Non Executive Board 2021

SOURCE:MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Key Employee Biographies

Pravin Prajapati

Mr. Pravin Prajapati has been the Chief Financial Officer of the company since April 2023.

Board: Senior Management

Job Title: Chief Financial Officer

Since: 2023

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Major Products and Services

JBF manufactures polyester chips. The major products of the company include the following:

Products:

Polyester Chips:
Film Grade
Textile Grade

Partially Oriented Yarns:

Dope Dyed Black Round
Raw White Semi Dull Round
Cationic POY (Partially Oriented Yarns) SD Round
Full dull POY Sd Round

Fully Drawn Yarns:

Super Bright Trilobal
Semi Dull

Bottle Grade Polyethylene Terephthalate (PET):

Aryapet

Polyester Textured Yarns

Sewing Threads

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Company History

Table 3: JBF Industries Ltd: Company History

Year HistoricalEvent Description

the company set up a new PET facility to be co-located adjacent to

2011 Contracts/Agreements
BP's existing PTA plant in Belgium.

JBF set up project of purified terephthalic Acid (PTA) with a

2011 Commercial Operation manufacturing capacity of 1.12 million tons per annum at (SEZ)
Mangalore, India.

JBF took over 100% control of JBF Global Pte, a holding company of
2010 Acquisitions/Mergers/Takeovers JBF RAK, by acquiring total shareholding of CVCIGP in JBF Global
Pte for around $104.4 million.

The company signed a memorandum of understanding (MoU) with

Oman Oil Company (part of Oman Refinery) owned by the
2010 Others
Government of Oman for setting up a 1.2 Million tons per annum
purified terephthalic acid plant.

JBF incorporated a wholly owned subsidiary in Singapore, JBF

2007 Corporate Changes/Expansions
Global.

the company acquired Microsynth Fabrics (India) Ltd., a producer of

2007 Acquisitions/Mergers/Takeovers
polyester POY (partially oriented yarns).

the company commissioned its new plant at Sarigam, Gujarat for

2006 Others manufacturing polyester chips through continuous poly-condensation
process.

1986 Stock Listings/IPO the company became a public limited company.

1982 Incorporation/Establishment JBF Industries (JBF) was formed as a private company.

SOURCE: MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Locations and Subsidiaries

Table 4: JBF Industries Ltd: Locations and Subsidiaries

JBF Petrochemicals Ltd

Survey Number 273, JBF Global Pte Ltd.
Village Athola Dadra Nagar Haveli Singapore
India

JBF RAK LLC

P.O.Box 6574
United Arab Emirates
971 172447269
971 7 2446620
www.jbfrak.com

SOURCE: MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY OVERVIEW

JBF Industries Ltd: Key Competitors

Table 5: JBF Industries Ltd: Key Competitors

AYM Syntex Ltd CIL Nova Petrochemicals Ltd

Grasim Industries Limited Sujata Synthetics Ltd.

Sumeet Industries Limited

SOURCE: MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY ANALYSIS

JBF INDUSTRIES LTD: COMPANY ANALYSIS

JBF Industries Ltd: Business Description

JBF Industries Ltd (JBF) manufactures and supplies polyester chips, yarns and bottle grade polyethylene
terephthalate (PET). The company operates in India, Singapore, the US, Brazil, Belgium and Bahrain.

The company's product line comprises polyester chips, which include textile grade and film grade chips; bottle
grade pet, which includes aryapet; partially oriented yarns (POY) with raw white semi dull round, dope dyed
black round, and cationic POY sd round and full dull POY sd round; fully drawn yarn, which the company
manufactures in two varieties of semi dull and super bright trilobal; bottle grade PET 'Aryapet'; and polyester
textured yarns and sewing threads.

JBF has polyester PET production facilities at Sarigam in Gujarat and Athola and Saily in Dadra and Nagar
Haveli.It also has a manufacturing facility at Ras Al-Khaimah, UAE, JBF has developed a 90 KT p.a BOPET
Films plant at Bahrain International Investment Park, a free trade zone. Another JBF plant is located in the Geel
province of Belgium, which produces top-quality PET chips at lower cost. ISO certification has been granted to
JBF India and its RAK plants.

In addition the plants have been audited and approved by various prime brands such as Coca-Cola, Nestle,
Pepsi, Henkel, Sunpet, Crystal Geyser, Masafi, Sabert Foods, Shemshad Noosh, Alain Mineral water, Jermuk,
Waterlok and many more.

Geographically, the company operates through two regions: India and Outside India. In FY2022, India region
accounted for 67.3% of the company's total revenue, followed by Outside India with 32.4%.

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: COMPANY ANALYSIS

JBF Industries Ltd: Top Deals 2019 - 2023YTD*

Table 6: JBF Industries Ltd: Top Deals 2019 - 2023YTD*

Target/Partner Deal Value

Deal Headline Deal Date Deal Status Deal Type (US$m)
(Country)

Reliance Industries and CFM

JBF Industries Ltd
Asset Reconstruction Rejects 22 Sep 2021 Terminated Acquisition -
(India)
Acquisition of JBF Industries

SOURCE:MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: RECENT DEVELOPMENTS

JBF INDUSTRIES LTD: RECENT DEVELOPMENTS

JBF Industries Ltd: News and Events Summary

Table 7: JBF Industries Ltd: News and Events Summary

Date Headline Category

JBF Industries Announcement of Appointment Of Chief Financial

Corporate
Officer
Governance--
Apr 12, 2023
>Management
JBF Industries Announced Appointment Of Chief Financial Officer
change
(CFO).

JBF Industries Announces Unaudited Financial Results for the

Quarter Ended on 30th June, 2022
Financial
Nov 7, 2022
Performance
JBF Industries Announced Unaudited Financial Results for the Quarter
Ended on 30th June, 2022.

JBF Industries Announces Unaudited Financial Results For

Quarter And Half Year Ended 30Th September, 2021
Financial
Nov 1, 2021
Performance
JBF Industries Announced Unaudited Financial Results For Quarter And
Half Year Ended 30Th September, 2021

Jbf Industries announces Financial Results For The Quarter Ended

30Th December, 2020
Financial
Feb 12, 2021
Performance
Jbf Industries announced Financial Results For The Quarter Ended
30Th December, 2020

JBF Industries Announces Financial Results For Quarter Ended

30Th September, 2020
Financial
Jan 21, 2021
Performance
JBF Industries Announced Financial Results For Quarter Ended 30Th
September, 2020

Regulatory and Legal

BoB-led lenders, JBF Industries to sign inter-creditor pact Events;Regulatory
and Legal Events--
Jul 18, 2019 Bank of Baroda had filed an insolvency resolution petition against the >Regulatory
maker of polyester-based products at the Ahmedabad bench of the issues;Regulatory
National Company Law Tribunal in September. and Legal Events--
>Legal issues

SOURCE: MARKETLINE

JBF Industries Ltd: Corporate Governance

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: RECENT DEVELOPMENTS

Table 8: JBF Industries Ltd: Corporate Governance

Publication Date Headline Category

JBF Industries Announcement of Appointment Of Chief Financial

Officer
Apr 12, 2023 Management change
JBF Industries Announced Appointment Of Chief Financial Officer
(CFO).

SOURCE: MARKETLINE

JBF Industries Ltd: Financial Performance

Table 9: JBF Industries Ltd: Financial Performance

Publication Date Headline Category

JBF Industries Announces Financial Results For Quarter Ended

30Th September, 2020
Financial
Jan 21, 2021
Performance
JBF Industries Announced Financial Results For Quarter Ended 30Th
September, 2020

Jbf Industries announces Financial Results For The Quarter Ended

30Th December, 2020
Financial
Feb 12, 2021
Performance
Jbf Industries announced Financial Results For The Quarter Ended
30Th December, 2020

JBF Industries Announces Unaudited Financial Results For

Quarter And Half Year Ended 30Th September, 2021
Financial
Nov 1, 2021
Performance
JBF Industries Announced Unaudited Financial Results For Quarter And
Half Year Ended 30Th September, 2021

JBF Industries Announces Unaudited Financial Results for the

Quarter Ended on 30th June, 2022
Financial
Nov 7, 2022
Performance
JBF Industries Announced Unaudited Financial Results for the Quarter
Ended on 30th June, 2022.

SOURCE: MARKETLINE

JBF Industries Ltd: Regulatory and Legal Events

Table 10: JBF Industries Ltd: Regulatory and Legal Events

Publication Date Headline Category

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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JBF INDUSTRIES LTD: RECENT DEVELOPMENTS

BoB-led lenders, JBF Industries to sign inter-creditor pact

Jul 18, 2019 Bank of Baroda had filed an insolvency resolution petition against the Legal issues
maker of polyester-based products at the Ahmedabad bench of the
National Company Law Tribunal in September.

BoB-led lenders, JBF Industries to sign inter-creditor pact

Jul 18, 2019 Bank of Baroda had filed an insolvency resolution petition against the Regulatory issues
maker of polyester-based products at the Ahmedabad bench of the
National Company Law Tribunal in September.

BoB-led lenders, JBF Industries to sign inter-creditor pact

Regulatory and Legal

Jul 18, 2019 Bank of Baroda had filed an insolvency resolution petition against the
Events
maker of polyester-based products at the Ahmedabad bench of the
National Company Law Tribunal in September.

SOURCE: MARKETLINE

JBF Industries Ltd - COMPANY REPORT BEC6A62C-9BD2-49BA-A672-7B7D5989EE6C / Published 05/2023

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APPENDIX

APPENDIX

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Notes

*YTD (Year To Date) – The period beginning January 1st of the current year up until today's date.
*TTM (Trailing Twelve Months) – The timeframe of the past 12 months.

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APPENDIX

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