Jayaswal Neco Industries Limited has announced a strategic investment of Rs. 40.97 crores in solar power generation through a partnership with Waaree Group. The company has executed a non-binding term sheet with Waaree Group entity for investing in equity of Special Purpose Vehicle(s) following comprehensive technical, commercial and financial evaluation.

Investment Structure and Capacity

The proposed solar power project will have a substantial capacity designed to meet the company's captive power requirements:

The investment will be structured under the Group Captive Multiple Consumer Structure, enabling the company to procure solar energy on a captive basis in compliance with the Electricity Rules 2005.

Power Requirements and Supply Details

The solar power project is strategically designed to serve the company's industrial operations with significant energy requirements:

Strategic Objectives

The solar power investment aligns with multiple strategic objectives for Jayaswal Neco Industries:

• Green Power Augmentation: Significantly increase renewable energy usage across operations
• ESG Commitment: Fulfill environmental, social and governance commitments
• Cost Optimization: Reduce volatility in grid power tariffs through captive generation
• Operational Efficiency: Ensure reliable power supply for steel plant and mining operations

Regulatory Compliance and Next Steps

The company has clarified that this investment will be below the threshold limit of disclosure requirements under Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015. The communication has been submitted for information purposes only.

The process of stakeholders' approval and definitive documentation will be undertaken in due course. The SPVs will be incorporated by Waaree Group and will be engaged in the business of setting up, generation and distribution of power from solar power plants. No governmental or regulatory approvals are currently required for the incorporation of these entities.

Business Impact

This solar power initiative represents a significant step toward sustainable operations for Jayaswal Neco Industries. The project will supply captive power to critical industrial facilities including the Steel Plant Division and iron ore mining operations, ensuring energy security while advancing the company's renewable energy portfolio. The partnership with Waaree Group leverages established expertise in solar power development to deliver reliable clean energy solutions.

Jayaswal Neco Industries board has approved a major capacity expansion project involving the setup of a new 1.50 MnTPA straight-grate pellet plant with an investment of ₹720.00 crores. The board meeting held on April 24, 2026, addressed this significant strategic decision aimed at expanding the company's pellet production capabilities at its integrated steel plant in Siltara, Raipur.

Major Capacity Expansion Project

The company announced the establishment of a new 1.50 MnTPA straight-grate pellet plant along with a new raw material handling system and other associate facilities. This expansion will double the company's pellet production capacity, adding to the existing 1.50 MnTPA pellet plant that currently operates at around 90% capacity utilization.

Investment and Financing Structure

The ₹720.00 crore project will be financed through a combination of debt and equity funding. The company has outlined a structured financing approach to support this major capital expenditure initiative.

Strategic Rationale and Timeline

The project is designed for crucial business expansion and optimal utilization of iron ore from the company's captive iron ore mines. The new pellet plant will feature advanced straight-grate technology along with comprehensive raw material handling systems and other associated facilities.

Regulatory Compliance and Approvals

The announcement was made in compliance with Regulation 30 of the SEBI Listing Regulations, 2015. The project implementation is subject to approval from existing lenders and successful financial closure. The company has provided comprehensive disclosure as required under Schedule III of the listing regulations, ensuring transparency in its expansion plans.

This capacity expansion represents a significant milestone in the company's growth strategy, positioning it to better serve market demand while leveraging its integrated steel plant infrastructure and captive raw material resources.