Godawari Power And Ispat Limited (GPIL) received intimation on 30.06.2026 from associate company Jammu Pigments Limited (JPL) regarding the allotment of 58,92,256 equity shares upon conversion of an equal number of Compulsorily Convertible Preference Shares (CCPS) on 29.06.2026. The shares have a face value of Rs 10 each and were issued at a premium of Rs 287 per share.
The conversion increased GPIL's investment in JPL from 26,77,506 equity shares to 85,69,762 equity shares, representing 43.96% of JPL's paid-up share capital of 1,94,96,456 shares. The acquisition was completed without any further infusion of funds into JPL, as the shares were allotted pursuant to the terms of the CCPS issue. The total cost of investment made in the CCPS aggregated Rs 175 crore.
JPL is engaged in the recycling of non-ferrous metals, with operations covering recycling of lead acid batteries and other secondary lead waste. The company has manufacturing units located at Kathua district in Jammu & Kashmir and Kota in Rajasthan. JPL also processes complex mixtures of industrial waste of non-ferrous metals, with technical expertise enabling efficient extraction of trace metals from waste materials.
JPL's financial performance over the last three financial years shows steady growth. In FY 2023-24, JPL reported a turnover of Rs 592.30 crore and profit after tax of Rs 22.55 crore, with a net worth of Rs 128.66 crore. In FY 2024-25, turnover stood at Rs 642.50 crore and PAT at Rs 14.69 crore, with net worth at Rs 123.30 crore. In FY 2025-26, JPL reported a turnover of Rs 877.89 crore and PAT of Rs 33.26 crore, with net worth at Rs 156.49 crore.
JPL was incorporated on 29.08.2005 and is classified as an associate company of GPIL. The acquisition of CCPS was made during FY 2024-25 and no promoter or promoter group entity has any interest in JPL beyond GPIL's investment. GPIL's registered office and works are located at Siltara, Raipur in Chhattisgarh.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.