About Jindal Photo Limited

Jindal Photo Limited (JPL) is a public listed company incorporated under the Companies Act, 1956, and regulated by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). The Company is registered as a Core Investment Company (CIC) and is primarily engaged in holding investments in securities of group companies and providing management consultancy services.

The equity shares of JPL are listed on both BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).

Historically, the Company operated a photographic division. Pursuant to an order of the Hon’ble Bombay High Court dated February 26, 2016, the photographic division was demerged and transferred to Jindal Poly Films Limited with effect from April 1, 2014. Following this demerger, all related credit facilities were transferred to the resulting company. One legacy charge record related to the demerged business remains visible in the MCA database, and JPL has stated it is actively taking steps to have this rectified.

The Company’s operations and investment activities are India-focused, with its registered office in Bulandshahr, Uttar Pradesh, and its head office in New Delhi, reflecting a domestic operating footprint.

JPL reports a single reportable segment—Investment Holding and Management Consultancy—for financial disclosure purposes, as its operations are governed by the same set of risks and returns.

As on the latest year under review, JPL had no subsidiary companies. It holds an associate interest in Jindal India Powertech Limited (JIPTL) and a joint venture interest in Mandakini Coal Company Limited (MCCL). The Company confirms zero subsidiaries, one associate, and one joint venture during FY 2024–25.

Geographically, these investee entities are based in India, underscoring the Company’s domestic orientation.

Jindal Photo Limited Key Milestones

• 2016: The Hon’ble Bombay High Court sanctioned the demerger of the photographic division, with an appointed date of April 1, 2014, transferring the division to Jindal Poly Films Limited.
• Transitioned to a Core Investment Company (CIC) model, focusing on investment holding and consultancy services.

Jindal Photo Limited Key Management

• Mr. Manoj Kumar Rastogi – Managing Director
• Mr. Awadhesh Kumar Jha – Chief Financial Officer
• Ms. Mukta Sharma – Company Secretary

Latest Updates on Jindal Photo Limited

• Associate shareholding change: On October 25, 2024, the associate company Jindal India Powertech Limited (JIPTL) approved the conversion of Optionally Convertible Preference Shares (OCPS) into 44,02,00,000 equity shares of face value Rs 10 each. While JPL’s number of shares remained unchanged, its equity holding percentage reduced from 47.54% to 20.11%, which has been reflected in JIPTL’s net worth share in JPL’s financial statements.
• Corporate structure: JPL confirms that it had no subsidiary companies during the year. It continues to hold one associate (JIPTL) and one joint venture (Mandakini Coal Company Limited) with 33.33% ownership.
• Legacy charge rectification: A historic charge (ID 80026156) in favour of HDFC Bank Limited for Rs 4,500 lakh, related to the demerged photographic undertaking, remains visible in the MCA records. JPL has clarified that the related assets and liabilities were transferred to Jindal Poly Films Limited and that corrective action is being taken to remove the charge record.
• Governance developments: The Board of Directors has proposed the re-appointment of Mr. Suresh Chander Sharma as a Non-Executive Director for a second term of five years, effective May 4, 2025, subject to shareholder approval at the ensuing AGM.
• Shareholder meeting: The 22nd Annual General Meeting is scheduled for July 31, 2025, at 2:00 P.M. via video conferencing/other audio-visual means. The Annual Report and AGM Notice are available on the Company’s website and the stock exchanges.
• Related parties: JPL confirmed that there were no materially significant related party transactions during FY 2024–25 that could potentially conflict with the interests of the Company at large. The Related Party Transactions Policy is available on the Company’s website.