Jayaswal Neco Industries appointed Shri Rana Das as President (Materials Management) and designated him as Senior Management Personnel effective October 1, 2026. The appointment follows the recommendation of the Nomination and Remuneration Committee and approval by the Board of Directors through a circular resolution.

Das brings extensive experience to the role, having spent over 30 years at Tata Steel. His tenure includes 25 years in Group Strategic Procurement and 5 years in Steel Plant Operations & Maintenance. He holds an MBA from Xavier Institute of Management, Bhubaneswar (XIMB), and possesses deep expertise in end-to-end industrial value chain leadership within large-scale manufacturing environments.

Appointment details

The company disclosed the appointment under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table outlines the key particulars of the new appointee:

The Board approved the appointment and remuneration based on the committee's recommendation. The disclosure was made to both the National Stock Exchange of India Limited and BSE Limited via their respective electronic filing systems.

Jayaswal Neco Industries Limited has achieved financial closure for its proposed 1.50 million tonnes per annum (MnTPA) Straight-Grate Pellet Plant. The company received approval from all existing lenders for the ₹720 crore project, marking a significant step in its capacity expansion plans.

This development follows an earlier intimation dated April 25, 2026, regarding the setup of the new facility at the Integrated Steel Plant Complex in Siltara, Raipur. The expansion aims to utilize iron ore from captive mines and enhance operational efficiency.

Project details and financing structure

The new plant will operate alongside the existing 1.5 MnTPA pellet plant, which currently runs at approximately 90% capacity utilization. The total appraised project cost is ₹720.00 crore, financed through a mix of debt and internal accruals.

The construction period is estimated at 24 months, commencing from the date of the first drawdown of term debt, which has not yet materialized.

What the numbers show

The financing structure reveals a leverage ratio of 75% debt to 25% equity and internal accruals. With ₹540.00 crore in sanctioned term debt against a total cost of ₹720.00 crore, the company relies heavily on external funding. This high debt component suggests significant interest obligations once the drawdown begins, impacting future profitability metrics unless offset by the projected revenue from doubled pellet production capacity.