Jayaswal Neco Industries Ltd.

NAGPUR ENGINEERING COMPANY LTD., (NECO), the flagship Company of the
 Neco Group, was originally incorporated as a Private Limited Company
 and obtained the Certificate of Incorporation on November 28, 1972. 
 It commenced commercial operations in 1976 for the manufacture of
 cast iron pipes and fittings by setting up their first foundry at
 Nagpur, Maharashtra.  Subsequently the company was converted into a
 Public Limited Company on November 21, 1985. 
 
 In 1987, the Company's second foundry unit for manufacture of the
 same product range was established at Bhilai in Madhya Pradesh and
 with further increase in product demand, the third unit was
 established at Anjora, Rajandgaon in Madhya Pradesh in October,
 1991.
 
 The company's principal customers are the construction industry and
 the Indian Railways.  It also exports Cast Iron Castings for
 construction and Municipal requirements to Middle East and Japan
 averaging about 2000 MT per annum. 
 
 The Company is the recipient of the Export Excellence Award from the
 Engineering Export Promotion Council in recognition of achieving
 highest export performance amongst the SSI exporters in the panel
 Cast Iron Pipes, Fittings and other Sanitary Castings for the year
 1992-93.
 
 With a view to diversify its activity the company decided to set up a
 Solvent Extraction Plant with a crushing capacity of 500 TPD and
 refining capacity of 100 TPD.  The company was offered a newly
 erected Solvent Extraction Plant having a crushing capacity of 200
 TPD and refining capacity of 25 TPD which had begun its trial runs. 
 This
 plant was erected by NAFPL, promoted by Mr. S H Agarwal & others, who
 were already in the business of trading in soyabean oilseeds & food
 grains.  The Company then decided to take up the Plant and enhance
 its crushing capacity from 200 TPD to 500 TPD and refining capacity
 from 25 TPD to 100 TPD.
 
 In the process of acquisition, the entire shares of NAFPL were first
 acquired by the Promoters & Associates of NECO whereby it became a
 group Company; and further the entire Assets and Liabilities were
 purchased by NECO out of the Internal Accruals at book value.  To
 effect the transfer of the Immovable Property i.e. Land, Building,
 Plant and Machinery etc., a Sale Deed dated March 27, 1993, was
 executed by NAFPL in favour of NECO.  The details of the Assets and
 Liabilities taken over are as follows: 
             							  (Rs.in lacs)
 
 Assets
 
 Land and site development				   2.87
 Factory shed & buildings				 117.51
 Plant & Machinery, Misc. Fixed 
  Assets and other deposits		         295.35
 
                                          415.73
 
 Liabilities
 
 Term Loan								    
 From SICOM								 145.00
 From MSFC                                 75.85
 
                                          220.85
 
 Net Consideration paid                   194.88
 
 The necessary registration/licences are also obtained by the Company
 from the concerned authorities.
 
 After the acquisition, the Company commenced commercial production
 immediately and simultaneously started the expansion programme. 
 During 1993-94, the crushing capacity was increased to 300 TPD which
 is being further increased to 500 TPD and refining capacity is being
 increased to 100 TPD.  
 
 AMALGAMATION:
 
 The Shareholders of the Company at their Meeting held on 28th
 February, 1997, approved the Scheme of Amalgamation of Nagpur Alloy
 Castings Limited along with Jayaswals Neco Limited into the Company
 w.e.f. appointed date i.e. 1st April, 1996.
 
 2003
 -Board and financial lenders approved to Sell immovable properties of
 the Food Products Division which has been determined at Rs 68 million
 
 2008
 
 -Company name has been changed from Jayaswals Neco Ltd to Jayaswal
 Neco Industries Ltd.
 
 2009
 
 -Jayaswal Neco Industries the Authorised Share Capital of the Company
 stands enhanced from the existing Rs. 300 Crores to Rs. 316 Crores,
 divided in Rs. 256 Crores as Equity and Rs. 60 Crores as Preference
 Share Capital.
 
 
 2010
 - Jayaswal Neco Industries Limited has informed that the Company has
 successfully achieved Debt tie-up of Rs.1800 Crores for its
 Integrated Steel Project in Chhattisgarh from ICICI Bank Limited,
 Mumbai.
 
 2013
 - Jayaswal Neco Industries Ltd - the High Court of Bombay, Nagpur
 Bench, Nagpur has approved the Scheme of Arrangement for merger of
 Steel Division of Corporate Ispat Alloys Limited with the Company
 - JNIL Automotive Casting Division has bagged the BEST CAPACITY
 RAMP-UP Award from M/s. OERLIKON - Noida for fastest development of
 CVT parts (Housings). 
 - JNIL Automotive Foundry Division bagged award from TATA Motors
 Drivelines (TMDIL)  during the Annual  Supplier's Meet  2013 for
 enabling Lean Supply Chain through elimination of rejections.
 
 2021
 -Jayaswal Neco Industries Ltd was awarded Prestigious 'Pradhan Mantri
 Shram Shree Award‘ received by Jayaswal Neco Industries Team.
 -Jayaswal Neco Industries Ltd has providing Felicitation of
 Meritorious of employees children 
 -Jayaswal NECO wins the FICCI CSR Award 2020 for outstanding work
 done in support of migrant labourers during the COVID-19 lockdowns