Shri Jayant Humbarwadi (MD) of Ashok Iron Group Belagavi has been featured in the latest edition of the India Today Magazine with the cover story – “Small-Town Tycoons”
It’s indeed a proud moment for Belagavi. This just shows our Industrial potential & the importance of Belagavi on the National Map.
Jayant is an alumnus of St. Paul’s High school and GIT Belagavi.
The article puts focuses on the Tycoons who have risen high in the business field on their own.
The 48-year-old Jayant Humbarwadi and also Ashok Iron Group are of the same age and have a net worth of Rs. 2300 crores.
In July 2022 he was honored as the Highest GST taxpayer of the year in the Belagavi District by GST Department.
Ashok Ironworks was started by his father Ashok Humbarwadi in 1974 as a foundry unit in Udyambag Belagavi, and now the group has an annual revenue of Rs 1,000 crore being the nation’s largest supplier of machined castings for heavy-duty applications.
Starting from simple castings Engine blocks in the 1990s now they make 16-cylinder block. both cast and machined at the Belagavi plant.
The group has 11 plants in Belagavi delivering specific components of world-class standard and many of its products are exported.
The group has a workforce of about 4000 odd persons.
The Jaybharat foundation of the group aims to build sustainable communities and at the same time to create a social impact for the well-being of society, with core areas being Education, health, and community development.