YEAR EVENTS 1984 - The Company was incorporated on 31st October at Mathura (U.P.) and obtained the Certificate of Commencement of Business on 28th November. It was promoted by Jindal Organisation in association with Dilip Bhargava, a Non-Resident Indian and Director of Sigmatech Inc., U.S.A. The company is manufacturing Sub-merged Arc Welded steel pipes of large diameters. - The company undertook to set up a project for the manufacture of 75,000 TPA of large submerged and welded steel pipes of 18" to 36" diameter. - The Company has entered into a Technical collaboration agreement with USS Engineers and Consultants Inc (UEC), U.S.A., a subsidiary of United States steel corporation for transfer of know how & technical assistance. The Collaborators agreed to provide services relating to engineering, installation and training of personnel. - In addition to advice regarding the latest technology from time to time, they also were to assist the Company for securing American Petroleum Institutes Monogram rights for the product. - The submerged arc welded pipes were to be manufactured by the UOE process confirming to American Petroleum Institute's (API) specifications. These pipes were specially meant for cross country transportation of oil, natural gas, water and other slurries. 1986 - 700 No. of Equity shares subscribed for by the signatories to the Memorandum of Association. 59,99,300 No. of Equity shares then issued at par out of which the following shares were reserved for firm allotment: - (i) 20,08,000 shares without payment in cash against the supply of plant and machinery to Sigmatech Inc. USA on repatriation basis (to be allotted after requisite performance of the plant was established and products were accepted by and users); - (ii) 9,99,300 shares to resident Indian promoters, directors, etc. and members of Jindal family and - (iii) 10,00,000 shares to Jindal group of companies. - Out of the remaining 19,92,000 shares, the following shares were reserved for preferential allotment; - (i) 3,00,000 shares to employees (including Indian working directors)/workers of the Company (none were taken up) and - (ii) 2,92,000 shares to non-resident Indians on repatriation basis (all were taken up). - The balance 14,00,000 shares, along with 3,00,000 shares not taken up by employees, were offered for public subscription during July 1986 (all were taken up). 1989 - 20,08,000 No. of equity shares allotted. 19,70,936 No. of equity shares allotted to the shareholders of Swastik Foils Ltd. as per scheme of amalgamation. 1993 - 49,98,568 bonus shares issued in prop. 1:2. 5,70,000 shares issued (prem. Rs 440) on preferential basis to group companies. 11,91,750 bonus shares allotted to NRI shareholders. 1994 - 15,138,554 bonus shares issued in prop. 1:1. 40,07,450 bonus shares kept in abeyance were issued. 1995 - Necessary approval of High Court of Delhi was received to amalgamate Swastik Foils Ltd. with the Company. As per the scheme of amalgamation, shareholders of Swastik Foils, Ltd., were to be allotted 4 equity shares of the Company for each share held by them in their Company. Accordingly 46,43,000 No. of Equity shares were allotted. - 2,500 bonus shares kept in abeyance were issued. 800 shares forfeited during the year. 1996 - Pipes manufactured were of smaller diameter and lesser tonnage as compared to previous year which affected the turnover. Nashik division changed the product mix from carbon steel to stainless steel which opened the export market and increased the value addition to the product. - The Company proposed to acquire a Plate Mill in Baytown (Texas) USA with a capacity of one million tonnes through subsidiary Jindal Enterprises L.L.C. - 4,58,200 No. of equity shares kept in abeyance were issued. 1997 - Turnover further declined to Rs. 210.16 crores due to upheaval in the global scenario especially with respect of Far Eastern and South Eastern countries. - 9,000 bonus shares kept in abeyance. - Saw Pipes Ltd (SPL), a Delhi-based O.P. Jindal group company, is close to acquiring a second plant in the United States. The company is also setting up a joint venture company to market its products in the US. - SPL is the only player outside Japan to produce longitudinal submerged arc welded pipes for use in the gas and oil sectors. - Saw Pipes, a part of the Rs.2,500-crore O P Jindal group, has another plant at Kosi Kalan in Uttar Pradesh to manufacture Saw Pipes using the U-O-E process. - The Saw Pipe manufacturing unit has a capacity of 0.5 million tonne per annum, which is owned by Saw Pipe US, in which Jindals hold 19 per cent stake. - The company is acquiring a one million tonne plate mill facility at Baytown, Texas from US Steel Corp, a part of the USX Corporation. 1998 - The Company has privately placed 15,00,000 - 13.5% Redeemable Preference Shares of Rs.1000/- each with Industrial Development Bank of India. - The Company is implementing a composite pipe coating unit at kandla, in the state of Gujarat. On completion of the project the company would become totally composite SAW PIPES supplying entity, the only one of its type in any part of the world. - Directors of the company look forward to the continuing support and confidence. - Information in accordance with the provisions of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo is given in the statement annexed hereto (Annexure I) - The Annual accounts of the Subsidiary Company Hexa Securities & Finance Company Ltd., alongwith statement pursuant to Section 212(1)(e) of the Companies Act, 1956 is attached with this report. The Reports of Jindal Enterprises LLC, are not being attached as the entity is deemed partnership under US Corporate Laws. We have sought legal opinion for reconfirmation, should there be a change in status of the Jindal Enterprises LLC under the US Laws the statements shall be circulated. - The company has given an undertaking to financial institutions for loan taken by Jindal Vijaynagar Steel Ltd., (JVSL) not to dispose off the invenstment in JVSL till the repayment of loan by JVSL or the project undertaken by JVSL is completed whichever is later. 1999 - Saw Pipes has an existing capacity of 2.5 lakh tonnes, while the US-based Saw Pipes Inc has an existing capacity of 5 lakh tonne per annum. - Saw Pipes Ltd will seek shareholders' approval to pledge its holding in Jindal Vijayanagar Steel (JVSL), Jindal Iron & Steel (Jisco) and Jindal Strips (JSL) with financial institutions. - The Saw Pipes board proposes to pass the resolution at the annual general meeting on December 24 to pledge 10,001,400 shares of JVSL, 377,528 shares of Jisco and 871,793 shares of JSL with institutions to avail of the Rs 5,000-crore loan sanctioned for JVSL. The company shall guarantee for the debt worth Rs 200 crore. - Saw Pipes, one of the joint promoters of JVSL, also proposes to subscribe 2.5 crore shares of JVSL at par -- aggregating Rs 25 crore -- to part-finance JVSL's cost overrun. The company, along with a subsidiary, holds Rs 60-crore worth shares in JVSL. With the fresh investment of Rs 25 crore, the holding will increase to Rs 85 crore. - The company is in the process of setting up a 100 per cent export-oriented unit with state-of-the-art technology for the manufacture of longitudinal welded saw pipes using the JCO process. - Crisil has downgraded the FA rating assigned to the fixed deposit programme of Saw Pipes FB . 2000 -3 LPE/FBE Coating Plant commissioned at Mundra. Internal Coating Plant commissioned at Mundra. 2001 -Shri Ratan Jindal, Shri Sajjan Jindal and Shri Dilip Bhargava give resignation from the office of the Director of the company. And also state that Shri Kuldip Bhargawa and Shri Moosa Raza are co-opted as Additional Directors of the company. 2002 -concrete Weight Coating Plant re-commissioned at Mundra. Bevelling Unit commissioned at Mundra. 2003 -Additional Plant for 3LPE/FBE commissioned at Mundra. 2004 -Saw Pipes Ltd (SPL) has informed that the company is entering into a Joint Venture Agreement with Imphy Ugine Precision, France, one of the divisions of Arcelor Group for manufacturing of High Precision Metal Equipments to be used in Electonic Industries and other applications -Third LSAW manufacturing facility commissioned at Samaghogha near Port Mundra with accreditation from API and ISO 2005 -Start up of Integrated Pipe Unit Ductile Iron Pipe manufacturing plant of 200,000 MT per annum capacity along with Blast Furnace of 250,000 MT per annum capacity and a Coke Oven Plant. - Company has changed its name from Saw Pipes Ltd. to Jindal Saw Ltd. 2007 - Jindal Saw Ltd has appointed co-opted Shri. Indresh Batra as Director of the Company and as Managing Director w.e.f. April 28, 2007 for a period of 5 years. 2009 -Jindal SAW bags orders worth Rs 1k cr -Jindal SAW bags orders worth Rs 1,100 cr -Company has splits its Face value of Shares from Rs 10 to Rs 2 2010 - Jindal Saw Ltd has informed BSE regarding a Press Release dated November 10, 2010 titled "Jindal Saw Ltd. bags orders for more than Rs. 600 Crores". - Jindal Saw Ltd has informed BSE that Jindal Water Infrastructure Ltd (JWIL), subsidiary of Jindal Saw Ltd has signed a Joint Venture Agreement (JVA) with Manila Water Company, Inc. - The Company at its meeting held on July 19, 2010, have also recommended a dividend of Rs. 1.25 per equity shares of Rs. 2/- each for the year ended March 31, 2010. - Jindal opens shop in Iraq. 2011 - The Company at its meeting held on August 12, 2011, inter alia, has recommended payment of dividend @ Rs. 1 per equity share of Rs. 2 each for the year ended March 31, 2011. - Jindal Saw bags Rs 700 cr orders. - Jindal SAW bags export order worth Rs 1000 cr. - The Company at its meeting held on January 31, 2011 has approved the re-appointment of Ms. Sminu Jindal as Managing Director for the period of 5 years starting from February 01, 2011 subject to requisite approval. - The Company has appointed Shri H. S. Chaudhary as a Whole-time Director. -Third Prize in Mechanized Mines Category for Publicity Propaganda and Housekeeping 2012 - Board recommends Dividend of Re. 1/- per equity share. - First Prize in Mechanized Mines Category for Publicity Propaganda and Housekeeping 2013 -Shri Neeraj Kumar has been appointed as Group CEO & Whole-time Director of the Company . -Jindal Saw have recommended payments of dividend @ Rs. 1 per equity share of Rs. 2 each. 2014 -Jindal Saw - MOU for restructuring of transhipment business of Jindal ITF Ltd., a wholly owned subsidiary of the Company. -Jindal Tubular USA LLC acquires the assets of PSL North America LLC. -Jindal ITF announces project driven partnership with Sula. 2015 -Jindal Saw shareholders approve proposal for Rs 10,000-cr deal 2019 -Company Hunting has business platforms in US and UK also. They are manufacturers of premium, high end downhole metal tools and components required to extract hydrocarbons. 2021 -Jindal Saw bags a deal for repairing and maintaining facilities of Sathavahana Ispat. -Jindal Saw has been awarded the contract for carrying out the repair and maintenance of manufacturing facilities of Sathavahana Ispat Limited. 2024 -The Company has splits its face value from Rs. 2/- to Rs. 1/-. -Hon'ble NCLT, Allahabad approved the Scheme of Amalgamation among JIndal Quality Tubular Ltd., Jindal Tubular (India) Ltd. Jindal Fittings Ltd. and Jindal Saw Ltd.