JINDAL PHOTO LIMITED

Jindal Photo Limited was incorporated on March 15, 2004 as a public limited company with the name 'Consolidated Photo Products Limited' . The name of the Company was changed from Consolidated Photo Products Limited' to Jindal Photo Limited on December 13, 2004. At present, Company is engaged in holding investments in the securities of group companies and providing management consultancy. As per the scheme of arrangement, the photographic business of Consolidated Finvest & Holdings Limited (formerly Jindal Photo Limited) was transferred and vested to the Company as a going concern with effect from April 01, 2004. As per the provisions of the scheme of arrangement, Jindal Imaging Ltd became the wholly owned subsidiary of the company. Initially, Company engaged in manufacture of photographic paper and films. The manufacturing plants are located at Valsad in Gujarat; Samba (Jammu) in Jammu and Kashmir and Dadra and Nagar Haveli. During the year 2004-05, the company participated in various promotional activities such as Photokina, Photofair, FUJI carnival workshops, products contests and workshops to promote new products and technologies and increase awareness about photography. They launched a series of cameras in the Digital Segment. During the year, the company set up a new unit at Samba in Jammu and Kashmir as a measure to increase their production capacities. In March 2005, they commenced production of paper, Cine Films and chemical in that unit. The equity shares of the company were listed on Bombay Stock Exchange and National Stock Exchange with effect from April 7, 2005. During the year 2006-07, the company increased the production capacity of Films from 8,242,000 sq mtr to 8,313,006 sq mtr. The company invested in the existing group SPV, namely Jindal France SAS by way of subscription to 2.8 million shares of Euro 1 each in their share capital at a value of Euro 2.8 million constituting 38.74% of their increased share capital. Also, they commenced commercial production in Phase II of Samta unit for producing Colour Roll Films etc. During the year 2007-08, Jindal India Thermal Power Ltd and Jindal India Power Ventures Ltd became the wholly owned subsidiary companies. They invested Rs 23.50 crore in the equity share capital of Jindal India Powertech Ltd, the holding company for various upcoming power projects. The company entered into a joint venture agreement with Tata Power Company Ltd & Monnet Ispat & Energy Ltd and formed a company, namely Mandakani Coal Company Ltd for the purposes captive mining of coal from the Mandakani non-coking coal block in the state of Orissa. During the year 2008-09, the company incorporated two wholly owned subsidiary companies namely India Fincap Ltd and Consolidated Imaging Ltd. Further, Jindal India Thermal Power Ltd and their subsidiary Hindustan Powergen Ltd were ceased to be subsidiaries of the company. In May 2009, the company sold their investment in Jindal India Power ventures Ltd and thus, Jindal India Power ventures Ltd ceased to be a subsidiary company. During the year 2009-10, the company acquired the entire shareholding of Jindal India Finvest & Holdings Ltd and thus Jindal India Finvest & Holdings Ltd became a wholly owned subsidiary company with effect from January 30, 2010. Also, they acquired 2.20 crore equity share of Jindal India Powertech Ltd by investing Rs 8.80 crore. As per the scheme of amalgamation of India Fincap Ltd with Hindustan Powergen Ltd, India Fincap Ltd ceased to be a subsidiary company. During the financial year 2010-11, the company incorporated a subsidiary company, namely Jindal Minerals & Metals (Mozambique) Limitada, in Mozambique (Africa) for the purpose of exploring mining opportunities in African continent. In 2015,the Company launched Academy for Photographic Excellence, a photography institute dedicated to the pursuit of imparting photo-education in India. As per the Scheme of Arrangement for Demerger between the Company and Jindal Poly Films Limited, the Manufacturing Division of the Company of photographic products was transferred/ demerged to Jindal Poly Films Limited effective from 1st April 2014. Jindal Operation and Maintenance Limited became subsidiary of the Company in 2015-16. In terms of Share Exchange Ratio, the Jindal Poly Films Limited has issued and allotted on 30th May, 2016 fully paid-up 17,38,700 equity shares to the equity shareholders of the Company through the said Demerger Scheme. In addition to this, Jindal Poly Films Limited also made payment to the shareholders of the Company in respect of their fraction shares.