JNIL records 300% jump in profit, plans expansion Jayaswal Neco Industries Ltd (JNIL) has reported a 300% surge in its profit after tax (PAT) for the financial year ending March 2026, marking a significant turnaround for the company. This growth comes after the firm faced challenges due to the earlier withdrawal of coal blocks, which disrupted its ability to service debt and impacted profitability. The promoters attribute the improved performance to reduced finance costs following the retirement of older debts and increased production levels. JNIL’s PAT rose from Rs113 crore in March 2025 to Rs463 crore in March 2026, reflecting a substantial recovery. Buoyed by this financial turnaround, JNIL has announced plans to invest Rs760 crore in new projects. A key component of this investment includes Rs41 crore in equity participation in a special purpose vehicle (SPV) formed by Waree Group’s renewable energy arm. The SPV aims to establish a captive solar power plant, which will supply energy to JNIL’s steel facility at Siltara near Raipur in Chhattisgarh. The company also intends to double its pellet production capacity at this site, requiring an investment of Rs720 crore. Additionally, promoters plan to inject around Rs200 crore through share warrants to fund these initiatives. The expansion strategy involves raising loans for new projects while simultaneously reducing existing debt, according to management sources. JNIL currently operates an integrated steel plant in Raipur with a capacity of 1 million tonnes and a pellet unit of 1.5 million tonnes, both of which are set for expansion. The company also holds iron ore blocks in the Narayanpur and Kanker districts of Chhattisgarh. JNIL specializes in producing special steel used across various sectors, particularly in the automotive industry.#chhattisgarh #raipur #jayaswal_neco_industries_ltd #waree_group #siltara
