Jaykay Enterprises Ltd Company Summary

Jaykay Enterprises Ltd Summary

Jaykay Enterprises Limited (Formerly known J K Synthetics Limited) was incorporated in May, 1961. In priority, the Company was primarily involved in registrar and transfer agent services. At present, the Kanpur-based JK Synthetics manufactures synthetic yarns, fibres and fabrics, portland and white cement, chemicals, fertilisers, pharmaceuticals and synthetic fibre-making machinery, and chemicals, and develops renewable energy sources. In 1973, a plant for making synthetic fibre machinery got commissioned in collaboration with Karl Fischer, Germany. In Mar.79, an acrylic fibre project was set up in tie-up with Technimont, Italy. In 1980, it made an entry into computer software by putting up an unit to manufacture facsimile systems and allied equipment. In 1988-89, it set up a complex in U.P. to manufacture aromatic and purified terephthalic acid (PTA).In 1991-92, it entered into collaborations with UOP Inter-American, US, for the aromatic process and with Krupp Koppers, Germany, and Uhde India, for engineering services and also tied up with Progress Software Corporation, US. It has a tie-up with MOCO, US, for the manufacture of PTA. In 1995 the company was granted the status of an Export House.During 1999-2000, the BIFR directed the Company to submit a revised rehabilitation proposal and IDBI has been appointed as the operating agency.The Mangrol Grey Cement project which was delayed for some years,was commissioned in December 2001 with a capacity of 7.50,000 MT p.a.The Company demerged its Cement Business during the year 2004 and consequent of this demerger,a new Company was formed in the name of J.K.Cement Ltd. for Cement Business. As per the Scheme of Arrangement, the shareholders of the Company were entitled to receive 1 equity share of Rs.10/- each of J.K.Cement Ltd for every 10 equity shares held in J.K.Synthetics Ltd. i.e., 1:10.During the year 2006-07, the Rehabilitation Scheme approved by Honble AAiFR vide their orders dated 23.01.2003 and 7.01.2005 for de-merger/ sale of cement plants and Kota plants was fully implemented. In respect of Kota plant transaction, the lease hold land was transferred to M/s Arfat Petrochemicals Pvt. Ltd. (APPL) after getting necessary approvals from Government of Rajasthan.The Company was renamed to Jaykay Enterprises Limited effective from 15th October, 2010. To quick start of new business, during the year 2017-18, Company identified to take over the existing business running into the name of M/s. Nebula3D Services Private Limited, at Bengaluru, in Karnataka. Accordingly, the Company purchased 5,45,957 Equity Shares of Rs.10/- each comprising 27.65% of the Equity Share Capital of the Nebula3D at a purchase consideration of Rs. 33,809,374/- effective on 6th April, 2018 and resulting, it started running the new business. The Company built a workshop in Bengaluru for Tear Down & Benchmarking during FY 2019-20. The Center of Excellence(COE) for Hi-Tech manufacturing established in Bengaluru, was made operational from March 30, 2022. The Company thereafter acquired 99% stake in Bangalore based partnership firm M/s. Silvergrey Engineers (SGE) engaged in production of hi-tech defence parts and equipment for HAL, ISRO, Gas Turbine Research Establishment, TATA Advanced Systems, BHEL, Aeronautical Development Agency, DRDO etc during FY 2021-22. Further, it diversified into Real Estate activities also. In addition, two Wholly Owned Subsidiary got incorporated i.e. JK Defence & Aerospace Limited and JK Digital & Advance Systems Private Limited effective on July 27, 2023. Further, the Company, through its wholly owned subsidiary i.e. JK Defence & Aerospace Limited acquired the 76.41% equity stake in Allen Reinforced Plastics Private Limited on July 09, 2023, as a result, Allen became a Subsidiary of JK Defence and a step-down subsidiary of the Company.