Jindal Stainless Steel

JSL keen on ₹40K cr investment in Maharashtra, looking for land parcel: MD

Jindal Stainless is "serious about Maharashtra" and is engaged in discussions with the state government to acquire a land parcel for its proposed Rs 40,000-crore stainless steel manufacturing facility, its MD Abhyuday Jindal said. At present, Jindal Stainless has a capacity of 3 million tonnes per annum at its two plants in Hisar (Haryana) and Jajpur (Odisha). The company is in the process of ramping up capacity to 4.2 MT by FY27. In an interview to PTI, Jindal said, "We are very serious about the investment. Currently, we are in discussions with the state government for acquisition of land." He made the remarks in reply to a question seeking an update on the agreement signed with the Maharashtra government in March this year. On the capex for FY26, Jindal said it has been fixed at Rs 2,700 crore, which includes Rs 1,000 crore spillover of FY25. In FY25, the company's capex guidance was Rs 5,500 crore but it translated into Rs 4,500 crore. So the remaining has been added to FY26.

Jindal Stainless Q4 results: PAT rises 18% to ₹590 crore on one-time gains

Jindal Stainless on Thursday reported an 18 per cent rise in consolidated net profit at Rs 590 crore in March quarter of FY25, primarily on account of one-time gain from two exceptional items. It had posted a net profit of Rs 501 crore in the January-March period of the preceding 2023-24 financial year, the company said in a statement. The net revenue increased 8 per cent to Rs 10,198 crore in the fourth quarter of FY25 from Rs 9,454 crore in the same period a year ago. However, in the entire FY25, net profit fell to Rs 2,500 crore from Rs 2,693 crore in FY24. The board of directors recommended a dividend of Rs 2 per share for the financial year 2024-25. The company's consolidated net debt as on March 31, 2025 stood at Rs 3,899 crore. In a post-earnings call, JSL MD Abhyuday Jindal said the rise in profit numbers was primarily because of two exceptional items -- dividend payout from Jindal United Steel Limited (JUSL) and stake sale in Jindal Coke. As per details shared by JSL, t

Jindal Stainless mulls ₹40,000 cr investment for new plant in Maharashtra

The proposal, with an estimated investment of Rs 40,000 crore, is scheduled to be developed over the next 10 years, which is expected to create more than 15,000 jobs

Jindal Stainless investing Rs 700 crore on decarbonisation projects

Jindal Stainless Ltd (JSL) on Tuesday said the company is in the process of investing Rs 700 crore in decarbonisation projects to achieve its net-zero goals by 2050. The investments will continue over next five years to set up various environment-friendly projects, which include renewable energy, green hydrogen, biodiversity conservation, waste management and adoption of carbon capture technologies, JSL said in a statement. "By investing Rs 700 crore in decarbonisation projects over the next five years...aim is to achieve financial and environmental goals, significantly reducing GHG emissions and carbon intensity by 50 per cent by FY35, and accomplishing net-zero emissions by 2050," the company said. JSL also said that it launched a task force on nature-related financial disclosure (TNFD) report aims to identify, assess, and mitigate nature-related risks while capitalising on opportunities to ensure business resilience and environmental stewardship. TNFD framework focuses on the fo

Fearing dumping of stainless steel, JSL MD presses for 25% imports duty

Jindal Stainless' managing director Abhyuday Jindal on Thursday pressed for a duty of up to 25 per cent for imports to protect domestic manufacturers against a possible dumping of goods into the country. US President Donald Trump's decision to impose a 25 per cent import tax on steel and aluminum will be beneficial for the domestic industry, he said, explaining that such a tariff has been slapped on India since Trump's first term and the latest move will create a level playing field. However, the US move may lead to products from across the world reaching India, which continues to be a growing market, he said. "If other markets are all getting closed, then they will come to India because India is growing. There is only a basic 7.5 per cent customs duty which is not enough," Jindal told reporters on the sidelines of an event here. "We need some kind of support from the government, some kind of protection, some support to Indian manufacturers needs to be given," he added. The indust

Jindal Stainless Q3 results: Net profit falls 5.3% to Rs 654 crore

Domestic sales grew 20 per cent in the quarter, driven by higher sales to the automobile industry, while exports fell 22 per cent

Jindal Stainless seeks nil import duty on molybdenum ore, raw materials

Ahead of the Union budget, Jindal Stainless has pitched for bringing down to nil the import duties on critical raw materials such as molybdenum ore, and continuing with zero duties on pure nickel, ferro-nickel, stainless steel scrap and mild steel scrap. Union Finance Minister Nirmala Sitharaman will present the Budget in the Parliament on February 1. Molybdenum is used in alloys like ultra-strong steel which is resistant to corrosion and wear. The prevailing customs duty on molybdenum ore is five per cent. In a statement Jindal Stainless Managing Director Abhyuday Jindal said, "We recommend reducing import duties to zero on critical raw materials unavailable in India, such as molybdenum ore, and continuing with zero duties on pure nickel, ferro-nickel, stainless steel scrap, and mild steel scrap." In a bid to give a boost to the demand of stainless steel, Jindal said that the government should continue to prioritise infrastructure spending, with a strong focus on developing mobili

Jindal Stainless races 4% as Nuvama upgrades to 'Buy,' raises target price

The rally in Jindal Stainless shares followed an upgrade by Nuvama Institutional Equities (Nuvama), which raised its rating on the stock to 'Buy' from 'Hold' and set a revised target price of Rs 836

Jindal Stainless to manufacture high-end stainless steel for BrahMos

Jindal Stainless on Monday said it will manufacture customised stainless steel and speciality low-alloy steel sheets for defence projects of BrahMos Aerospace. The company will also supply steel plates from its Hisar plant in Haryana, it said in a statement. Jindal Stainless has been accredited by BrahMos Aerospace Pvt Ltd as a qualified vendor for the manufacturing and supply of steel sheets and plates, it added. JSL MD Abhyuday Jindal said, "We envision an India that is completely Atmanirbhar in its defence requirement. In line with this vision, we are enhancing our capabilities to meet and exceed the stringent conditions for such critical applications. Contributing to the strengthening of our country's defence standing is a matter of passion and pride for us". Previously, Jindal Stainless has supplied materials for key projects under the DRDO and Isro, including India's lunar mission Chandrayaan, PSLV, GSLV Mk3, nuclear submarine missile system, missile canisters for various ...

'I feel violated': Woman accuses Jindal Steel exec of molestation on flight

The woman, who was seated next to Dinesh Kumar Saraogi, a senior executive at Jindal Steel Group, alleged that he behaved inappropriately

Jindal Stainless buys remaining 46% stake in Chromeni Steels for Rs 278 cr

Jindal Stainless on Monday said it has acquired the remaining 46 per cent stake in Chromeni Steels Private Ltd (CSPL) for Rs 278 crore. Consequently, CSPL has become a wholly-owned subsidiary of the company, with effect from June 15, 2024, Jindal Stainless Ltd (JSL) said in a release. "Jindal Stainless acquires remaining 46 per cent equity stake in Chromeni Steels Private Ltd. The transaction entails a total outlay of Rs 278 crore, comprising payment towards equity transfer and payment of shareholders' debt," it said. Jindal Stainless earlier acquired a 54 per cent equity stake in CSPL through an indirect acquisition deal for Rs 1,340 crore. The overall acquisition of CPSL costs around Rs 1,618 crore to JSL. JSL CEO Tarun Kumar Khulbe said, "The acquisition of a 100 per cent equity stake in Chromeni will help us climb the value chain. Since we expect the facility to be operational soon, this strategic move will enable the company to capitalise on the robust domestic demand, which

Jindal Stainless Q4 results: Net profit declines 30% to Rs 500 crore

Jindal Stainless on Wednesday reported a 30 per cent fall in consolidated net profit to Rs 500.65 crore for the March quarter on account of lower income. It had clocked Rs 716.29 crore net profit during the fourth quarter of FY23, the company said in an exchange filing. The company's total income also decreased to Rs 9,509 crore from Rs 9,803.01 crore in January-March FY23. During the period under review, its expenses stood at Rs 8,805.55 crore against Rs 8,885.45 crore a year ago. The board of the company also recommended a final dividend of Rs 2 per equity share for the financial year ended March 31, 2024. Jindal Stainless is the country's largest stainless steel making company.

Jindal Stainless supplies 'high-strength' steel to Vande Metro trains

Leading stainless steel manufacturer Jindal Stainless has supplied high strength stainless steel for the Vande Metro train expected to operate from July, the company said on Tuesday. The Railways had recently rolled out the Vande Metro train from the Integral Coach Factory in Chennai. The "201LN" stainless steel supplied by Jindal Stainless, makes coaches lighter and energy efficient, Jindal Stainless claimed in a statement, here, today. Vande Metro Trains are shorter distance versions of the 'Vande Bharat' express trains. Vande Metro Trains aim to serve passengers traveling distances of up to 250 kms. Vande Metro Trains are expected to connect more than 120 cities and likely to be launched in July. Some of the preliminary routes planned are Bhubaneswar-Balasore, Agra-Mathura, Chennai-Tirupati, Delhi-Rewari, and Lucknow-Kanpur, the company statement said. Jindal Stainless said compared to the conventional 'ferritic stainless steel' grade, the thickness of the external panel on t

Jindal Stainless cuts 2.4 trn tonnes of CO2 emissions in last two fiscals

Jindal Stainless has reduced 2.4 lakh tonnes of carbon emissions between 2022-23 and 2023-24, according to a company statement on Wednesday. Jindal Stainless Ltd (JSL) is taking various measures to reduce the carbon component in its emissions to nil by 2050. The company plans to generate over 1.9 billion units of clean electricity per annum with a target to reduce over 13.52 lakh tonnes of carbon emissions annually by the targeted year. "In the last two fiscals (FY22 and FY23), the company has managed to successfully reduce 2.4 lakh tonnes of Co2 emissions) taking it a step closer towards carbon neutrality and responsible manufacturing," the statement said. The company said it has started using renewable energy sources for its operations. It has also started producing green hydrogen to be used in steel-making processes. Besides, JSL has undertaken digitalisation and technology upgradation for energy efficiency and using EVs at its facilities in Odisha and Haryana. "These initiati

Jindal Stainless to divest entire 26 pc stake in Jindal Coke by September

Jindal Stainless on Wednesday said it aims to complete divestment of its entire 26 per cent stake in Jindal Coke by September this year. In the first tranche, the company has offloaded 4.87 per cent shares in Jindal Coke for over Rs 36.49 crore. These shares were picked up by JSL Overseas at the same price, according to a regulatory filing. At the same time, Jindal Stainless has acquired a majority stake in Spanish entity lberjindal. In January, the board of the company gave in-principle approval for the acquisition of up to 100 per cent stake in Iberjindal S.L., a subsidiary company based in Spain, and divest 26 per cent equity stake held in its associate company Jindal Coke Ltd (JCL). Jindal Stainless Ltd (JSL) executed a share purchase agreement with JSL Overseas Ltd (JOL) on March 26, 2024, for the sale of a 4.87 per cent equity stake in JCL, the company said in the filing. "The company has transferred 15,80,000...equity shares of the face value of Rs 10 each at a price of Rs

Jindal Stainless collaborates with IIT-Kharagpur for metallurgical projects

Jindal Stainless Ltd and IIT Kharagpur will jointly work on metallurgical projects like primary alloy production and materials characterisation. It is an industry-academia collaboration, under which the premier educational institution will offer technical and operational solutions, Jindal Stainless Ltd (JSL) said in a statement on Saturday. The collaboration will work together on metallurgical projects, such as process optimisation, materials characterisation, and primary alloy production, it said. "The partnership will enable us to harness research in metallurgy and translate it into tangible solutions that benefit the industry. "We are committed to shape the trajectory of stainless steel technology and making substantial strides in the industry, contributing to our collective pursuit of an atmanirbhar India," JSL Managing Director Abhyuday Jindal said. Under the terms of the MoU, IIT Kharagpur will provide technical consultancy and engage in academic and industrial research to .

Corrosion leads to losses worth $100 billion annually In India: JSL MD

India faces estimated losses of USD 100 billion every year due to corrosion in projects across sectors, industry player Jindal Stainless Ltd (JSL) said on Friday. The losses can be reduced by up to 25 per cent by implementation of corrosion management practices, JSL Managing Director Abhyuday Jindal said. "India loses approximately USD 100 billion to corrosion annually. By strategically implementing corrosion management practices, we can save up to 25 per cent of the corrosion cost across industries," a company statement quoted Jindal as saying. He said a partnership between industry body CII and JSL to create awareness of corrosion and scale up its management activities to cut down losses that occur due to corrosion. Last year, CII and JSL signed a memorandum of understanding which focuses on inviting suggestions on improvements specific to stainless steel use, scaling up corrosion management activities in India and abroad, promoting technology to manage corrosion, and providing .

Scindia to inaugurate Jindal Stainless' 1st green hydrogen plant on Feb 27

Union Minister Jyotiraditya M Scindia will on Tuesday inaugurate the stainless steel industry's first green hydrogen project set up by Jindal Stainless Ltd (JSL). The Union Steel Minister will virtually inaugurate the company's green hydrogen project, according to officials. With the inauguration, JSL will become India's first stainless steel company to install such kind of plant on a commercial scale, the officials said. "This project is a state-of-the-art green hydrogen facility with a target to reduce carbon emissions considerably by around 2,700 metric tonne per annum and 54,000 tonne Co2 emissions over 20 years," one of the officials said without divulging more information. In August 2022, the country's largest stainless steel player had announced a partnership with Hygenco India Private Limited to set up a green hydrogen plant at Hisar, Haryana. "As a first, the green hydrogen plant will catalyze our transition from thermal to clean energy in the Indian manufacturing space.

Domestic market enough to take in our capacity: Jindal Stainless MD

Jindal says that the strategy is to focus on the domestic market

JSW Steel forms JV with Japanese firm to produce steel variety in India

New company will be set up with a planned investment of Rs 5500 cr