Innovative Tech Pack

I was going to open a new thread on this when VP told me there was an existing one. Has anyone noticed that the company has acquired another listed entity, Jauss Polymer Ltd.

I was recently going through recent company results when I came upon the Sep’15 results of Jauss Polymer.
Excellent performance – 7.32 crore / 2.60 crore vs 4.92 / 0.08 crore in Sep’14 (Rev / NP). Half yearly performance stands at an EPS of ~8 compared to full year FY14 EPS of 4. Currently, the company is trading at ~Rs 24 at a PE of 3.

Now the question which arises is, Jauss Polymer actually seems like a better bet than Innovative Tech Pack. I also noticed that Innovative Tech Pack is not showing consolidated results with Jauss included. What could be the reason for that? The management of both companies is now the same. Would Jauss be delisted at some date?

At the moment, there seems to have been some catalyst for Jauss Polymer’s results, any clues on what has happened? Could not be purely just raw material costs, as top line has expanded significantly.

I was quite interested in Jauss Polymers, but Innovative Tech Pack does not appeal to me and I do not know if I wish to get into bed with this management.