This disclosure relates to optimizing an operation of an equipment by a neural network based optimizer is provided. The method include receiving, information associated with at least one equipment instance (j) as an input at a predefined sequence of timestamps; training, a plurality of simulation models for each equipment instance to obtain a function (fj); processing, the external input parameters (et) to obtain a fixed-dimensional vector and passed as an input to obtain an vector (it); generating, a modified (it) from the output vector (it) based on a domain constraint value; computing, a reward (rt) based on (i) the function (fj), (ii) the modified (it), (iii) the external input parameters (et), and (iv) a reward function (Rj); and iteratively performing the steps of processing, generating, and computing reward (rt) for a series of subsequent equipment instances after expiry of the predefined sequence of timestamps associated with a first equipment instance.