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JBF Industries
Company is gradually moving up in value chain from Polyester Chips maker
to Yarn & Film maker
With Polyester film prices improving significantly in last 6 months, we expect
company’s Dubai subsidiary – JBF RAK to report excellent results
For backward integration & to secure raw materials at cheaper cost, its
subsidiary JBF RAK, Dubai is planning to set up a 1.2 mill MTs capacity of key
input – PTA. This will be under JV with Oman oil [10% stake], who will
provide Paraxylene [input for PTA]. JBF RAK may be listed on Singapore
exchange also
Due to improved fundamentals for Polyester Films and Yarns, improving
realisation(Rs.235 per Kg), stabilized row material cost & re- rating of the
overall sector, we are bullish on the stock
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