Jainam Ferro Alloys (I) Ltd Company Summary

Jainam Ferro Alloys (I) Ltd Summary

Jainam Ferro Alloys (I) Limited was originally incorporated as Jainam Infraways Private Limited on March 06, 2014 with Registrar of Companies, Chhattisgarh. Further, Company was converted into a Public Limited and the name was changed to Jainam Infraways Limited vide a fresh Certificate of Incorporation dated July 10, 2018 issued by the Registrar of Companies, Chhattisgarh. Subsequently, on August 08, 2018, name of the Company got changed o Jainam Ferro Alloys (I) Limited vide a fresh Certificate of Incorporation dated August 29, 2018 issued by Registrar of Companies, Chhattisgarh. Mr. Archit Parakh and Mr. Aditya Parakh are the current Promoters of the Company . The Company is currently manufacturing two types of Ferro Alloys namely, Ferro Manganese (FeMn) and Silico-Manganese (SiMn). The products manufactured by Company are primarily used in manufacturing of steel and in foundry activities. Both the alloys are largely used in steel industry. The Company is Indias leading manufacturer and exporters of niche value-added manganese alloys. Ferro-manganese adds strength, toughness and other properties to steel. Silico manganese provides additional silicon which is a stronger De-oxidant in manufacturing steel. The Companys customers include companies like Steel Authority of India Ltd, Jindal Stainless Ltd (Jaipur), Jayaswal Neco Industries Limited, Jindal Steel & Power Ltd (Raigarh), Ahmedabad Metal & Alloys, Ascent Enterprises, Saarloha Advanced Materials Pvt. Ltd, BRGD Ingot Pvt. Ltd, Shri Madhav International, JSW Steel Limited (Bellary).The products manufactured by our Company are primarily used in manufacturing of steel and in foundry activities. It is used as an alloying element which enhances some key physical properties of steel like elasticity, ultimate tensile, strength and toughness etc.Sometimes addition of some elements in the form of alloys is done deliberately to liquid steel for developing abrasion resistance, wear resistance and corrosion resistance properties. Apart from using manganese alloys for alloying the steel, they are also widely used for deoxidizing, desulphurization & refining of steel. Phosphorus and other elements can also be controlled depending on customer specification. Smaller quantities of alloys are used as reductant in order to produce other metals. Besides their use in plain carbonsteel and alloy steel plants, Ferro alloys are consumed by the foundries and electrode industries. A very specific application of refined manganese alloys is a constituent in the coating of welding electrodes. In ceramic industries, manganese alloys are used in small quantities.In 2016, the Company took over the ferro alloy plant of M/s Raghuvir Ferro Alloys Private Limited via Sale Deed dated June 21, 2016. Pursuant to the said Sale Deed, Company acquired the entire factory of M/s Raghuvir Ferro Alloys Private Limited having its factory located at Raipur, Chhattisgarh, including Super Structure Factory Shed, Administrative Buildings, Plant and Machinery, Weigh Bridge, Electrical Installation, Office equipment together with all rights, concessions, licenses and other privileges and the allotted manganese ore mines at Village Jagantola, in Balaghat district of Madhya Pradesh.In 2016, the Company started commercial production with one furnace having designed capacity of 9 MVA with 5000 KVA power load for the production of Ferro alloys of the different grades. In June 2017, the Company started another furnace having designed capacity of 6 MVA with 4000 KVA power load for the same manufacturing activity. The Company diversified its line of activities by manufacturing of ferrous and non-ferrous metals including alloy steel, ferro alloys and related business in 2018-19. The Company floated an Initial Public Offer of 28,02,000 Equity Shares by raising funds aggregating to Rs 19.6 Crore in October, 2021. The Company has subscribed 3,75,000 Equity Shares at a price of Rs. 40/- per share of M/s JW Diagnostic and Research Center Private Limited on the basis of Preferential Allotment by making it a subsidiary of the Company in 2023-24.