Jayaswal Neco Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on April 24, 2026.
JAYNECOIND · price
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Jayaswal Neco Industries reported strong FY26 results with revenue of Rs 7,131.82 crore (up 19% from Rs 5,999.73 crore) and profit before tax of Rs 603.45 crore (up 485% from Rs 103.20 crore). The Board approved a preferential issue of 2,24,39,134 warrants to Vibrant Enterprises (Jayaswal family partnership firm) at Rs 89.13 per warrant, aggregating Rs 200 crore. These warrants are convertible into equity shares within 18 months. Proceeds will fund a new 1.50 MT pellet plant and upgrades to the existing integrated steel plant at Siltara, Raipur. An EGM has been called for May 21, 2026 to seek shareholder approval for the warrant issuance and AOA amendment. The statutory auditor issued an unmodified (clean) opinion on the financial results.
Strong financial performance with 5x profit growth demonstrates operational strength. The Rs 200 crore warrant issuance to promoter entities may raise dilution concerns but funds will support capacity expansion. Clean audit opinion provides confidence. Shareholders should note the EGM voting on the preferential issue.