JBF Industries will hold a meeting of the Board of Directors of the Company on 12 October 2018.

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JBF Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 4 October 2018 .

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JBF Industries will hold a meeting of the Board of Directors of the Company on 4 September 2018.

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The announcement was made after market hours yesterday, 27 August 2018.

Meanwhile, the S&P BSE Sensex was up 133.14 points or 0.34% at 38,827.25.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 1.33 lakh shares in the past two weeks. The stock had hit a high and low of Rs 41.05 so far during the day. The stock had hit a 52-week high of Rs 262 on 7 November 2017. The stock had hit a 52-week low of Rs 24.85 on 3 August 2018.

The small-cap company has equity capital of Rs 81.87 crore. Face value per share is Rs 10.

JBF Industries and KKR Jupiter Advisors (KKR) have entered into a binding understanding. Based on the Term Sheet executed on 14 August 2018 wherein KKR has agreed to buy out a 100% stake of JBF Petrochemicals. The total debt of $464 million in JBF Petrochemicals will now no longer be consolidated in the accounts of JBF Industries. This will eliminate all contingent liabilities in the form of guarantees provided to the lenders of the PTA project for a loan of $464 million and interest thereon. The financial closure of JBF Petrochemicals is scheduled by 30 September 2018.

Further, an amount of Rs 450 crore will be returned by JBF Petrochemicals to JBF Industries, in settlement of the Inter Corporate Deposit provided by JBF Industries. The funds will be used for repayment of debt (in part) to banks and balance for working capital.

JBF Industries reported a net loss of Rs 49.57 crore in Q1 June 2018, compared with net loss of Rs 12.66 crore in Q1 June 2017. Net sales declined 9.41% to Rs 876.94 crore in Q1 June 2018 over Q1 June 2017.

JBF Industries is a manufacturer of polyester chips, polyester yarn and processed yarn from polyester chips.

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