About Jai Balaji Industries Limited

Jai Balaji Industries Limited, incorporated in 1999, is an integrated iron and steel producer with operations spanning raw material processing to value-added products like ductile iron pipes and specialised ferro alloys, alongside sponge iron, pig iron, billets, TMT bars, coke, and sinter, supported by captive power plants. The Company operates four integrated plants located at Ranigunj and two sites in Durgapur, West Bengal, and at Borai (Rasmada), Durg, Chhattisgarh, enabling efficient nationwide distribution from Eastern India hubs. Its strategy emphasises niche, policy-aligned segments that are relatively insulated from cyclicality, with 49% of FY 2024–25 revenue from high-value DI pipes and specialised ferro alloys, reflecting a shift toward downstream, non-commoditised steel solutions that catalyse infrastructure growth, especially water transmission and high-performance steelmaking. As of March 31, 2025, the workforce stood at 4,570, and the Company’s equity is listed on NSE and BSE. Subsidiaries and JVs: one overseas subsidiary, Kesarisuta Industries Uganda Limited (incorporated July 19, 2023, for DI pipe sales) remained non-operational and was approved for closure by the Board on April 16, 2025; joint ventures Rohne Coal Company Pvt. Ltd. (6.90%) and Andal East Coal Company Pvt. Ltd. (32.79%, under liquidation) are fully provided for due to coal block cancellations per Supreme Court order dated September 24, 2014. Key milestones in FY 2024–25 included completing brownfield capacity additions through internal accruals, raising DI pipe revenue mix from 27% to 32%, and credit rating reaffirmation at CRISIL BBB/Stable (long-term) and A3 (short-term).

Jai Balaji Industries Limited Business Segment

• Segment focus: The Company states it is predominantly engaged in a single reportable segment of Iron and Steel for financial reporting; however, operating emphasis is on ductile iron pipes and specialised ferro alloys as value-added niches within the broader portfolio.

• Revenue mix by product family: DI pipes constituted 32% of revenue in FY 2024–25 (27% in FY 2023–24), with high-value DI pipes and specialised ferro alloys together contributing 49% of revenue in FY 2024–25, underscoring the shift to specialised downstream products.

Jai Balaji Industries Limited Key Management

• Aditya Jajodia — Chairman & Managing Director

• Sanjiv Jajodia — Whole-time Director & Chief Financial Officer

• Rajiv Jajodia — Whole-time Director

• Gaurav Jajodia — Whole-time Director

• Bimal Kumar Choudhary — Executive Director

• Ajay Kumar Tantia — Company Secretary

• Raj Kumar Sharma — Joint Chief Financial Officer

Latest Updates on Jai Balaji Industries Limited

• Strategy and capacity: Advanced brownfield expansion across value-added niches (DI pipes and ferro alloys) fully funded by internal accruals, reinforcing capital efficiency and margin resilience in FY 2024–25.

• Product mix shift: DI pipe revenue share rose to 32% (from 27%), with combined DI pipes and specialised ferro alloys reaching 49% of revenue in FY 2024–25, reflecting the Company’s niche, policy-aligned growth path.

• Capital structure actions: Share split approved—each equity share of face value Rs 10 sub-divided into 5 equity shares of face value Rs 2; record date January 17, 2025; all 2,20,00,000 previously issued warrants converted into equity by March 31, 2025.

• Governance and ratings: CRISIL reaffirmed long-term rating at CRISIL BBB/Stable and assigned short-term rating CRISIL A3; secretarial compliance and BRSR filed; no material RPTs; no significant orders impacting going concern.

• Subsidiary decision: Board approved closure of Kesarisuta Industries Uganda Limited on April 16, 2025, as operations had not commenced since incorporation in July 2023.