Jai Mata Engineering Unlisted Shares
Jai Mata Engineering Limited is a Delhi-based stainless steel maker that produces billets, flats, wire rods, round bars and sheet or coil from its plant. It was formed in 1996 and reports a current capacity of 72,000 tonnes a year.
Read the full company profile
Key facts
Jai Mata Engineering share details
- Lot size
- 500 shares
- Min. investment
- ₹107,500
- Face value
- ₹10
- Implied market cap
- ₹338 Cr
- Shares outstanding
- 15,709,869
- Founded
- 1996
- Headquarters
- New Delhi
- Website
- jmel.co.in
- ISIN
- INE0E4L01013
- CIN
- U27106DL1996PLC081922
- Lock-in after IPO
- 6 months
Price history
Jai Mata Engineering share price chart
1Y change
+3.37%
High
₹218
Low
₹198
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About
About Jai Mata Engineering
Jai Mata Engineering Limited (JMEL) makes stainless steel products. Its range covers billets and ingots, flats, wire rods, round bars and sheet or coil. The company sells mainly to business customers who process the steel further into other products. Its own website lists uses such as boilers, pumps, oil and gas, power generation, construction and medical equipment.
The annual report for FY25 says the company is an ISO 9001:2015 certified organisation and one of only 15 to 20 makers of hot rolled stainless steel in India. Its current capacity is 72,000 tonnes per annum. The plant has a 14 tonne induction furnace, a 25 tonne AOD converter, a rolling mill, a fume extraction system and an oxygen gas plant. The registered office is at Eros Corporate Tower, Nehru Place, New Delhi, and the company's site lists operations around Ghaziabad.
The story began with promoter Manoj Bansal, who started in the steel broking trade in 1989 and set up his own trading business in 1995. Jai Mata Engineering was incorporated as a closely held company in 1996. It first produced by using spare capacity at other manufacturers' units in Ahmedabad and Indore, and later set up its own manufacturing. The company has no subsidiary, associate or joint venture, as per the FY25 report.
The share capital grew a lot in FY25. Paid-up capital rose from 25,93,306 equity shares to 1,57,09,869 equity shares of face value ₹10 each, through loan conversion, a bonus issue in the ratio of 39:10 and two private placements. The board did not recommend any dividend for FY25 and chose to reinvest. We could not read the profit and loss and balance sheet tables in the text of the report, so this page does not show financial figures.
Jai Mata Engineering is not listed on any stock exchange. Its shares trade off-market, and the indicative price on this page is ₹215 per share for a lot of 500 shares, based on dealer quotes, not an exchange price. It has no linked IPO on IPO Guru yet.
Strengths
- The FY25 annual report calls it one of only 15 to 20 makers of hot rolled stainless steel in India, a niche segment.
- Current capacity is 72,000 tonnes per annum, with an induction furnace, AOD converter, rolling mill and oxygen plant under one set-up.
- The product range covers billets, flats, wire rods, round bars and sheet or coil, so it sells at several stages of stainless steel processing.
- It holds ISO 9001:2015 certification, as stated in the annual report.
- The company has no subsidiary, associate or joint venture, so its accounts are a single entity.
- Promoter Manoj Bansal has been in the steel trade since 1989 and has been on the board since 1996.
- The auditor reported that the company did not default on repayment of loans or interest to any lender in FY25.
Risks
- We could not read the FY25 financial statements in text form, so revenue, profit and debt are not shown here. Check the full annual report before judging the business.
- The auditor's report notes a cash profit of only ₹5,60,348 in FY25, which is very small for a steel manufacturer.
- The company has working capital limits of ₹13 crore from HDFC Bank secured on current assets, so it depends on bank funding.
- Share capital changed sharply in FY25 through loan conversion, a 39:10 bonus issue and private placements, so older per-share figures are not comparable.
- Stainless steel prices and raw material costs move with global metal markets, which can squeeze margins.
- The report states no foreign exchange earnings in FY25, so there is no export income to balance domestic demand.
- The board changed a lot in FY25, with several directors resigning and new ones joining, and the company secretary resigned in January 2025.
- The board has recommended no dividend for FY25, so returns depend on a future listing or sale.
- Unlisted shares trade off-market through dealers, with indicative prices, limited liquidity and no exchange investor protection.
Leadership
Management team
Manoj Bansal
Director
Promoter on the board since 1996; began in steel broking in 1989 and started a trading business in 1995.
Akshay Bansal
Director
Director on the board, as listed in the FY25 annual report.
Sumit Kumar
Nominee Director
Appointed as nominee director by the board in December 2024.
Hajari Lal Meena
Chief Financial Officer
Appointed Chief Financial Officer in September 2024.
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Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
