Jindal Stainless Steel

Stainless steel industry deserves dedicated policy: Jindal Stainless MD

Abhyuday Jindal has said the stainless steel industry needs a standalone policy rather than a mere chapter in the National Steel Policy

Jindal Stainless Q2 results: PAT jumps 33% to ₹808 cr on strong demand

Local demand for stainless steel - used in transport, construction, appliances and industrial goods - stayed firm in the July-September quarter

Jindal Stainless invests $150 mn to double slag processing capacity

Jindal Stainless on Wednesday said it is investing USD 150 million (around Rs 1,300 crore) to double its annual slag processing capacity to 0.72 million tonnes to help meet long-term circularity goals. As part of the investment, the company will set up its second wet milling plant of the same capacity of 0.36 million tonnes (MT) at its Jajpur unit in Odisha by October 2026. The byproduct or slag of stainless steel production is processed at wet milling plants to recover metal. "The initiative will support the company's long-term circularity goals by recovering metal from industrial waste and conserving natural resources. It will also create approximately 140 new jobs in the region," Jindal Stainless said in a statement. Jindal Stainless is committing to a spend of USD 150 million to build and operate the plant under a 15-year partnership with Harsco Environmental, further strengthening the long-standing collaboration between the two companies in advancing circular operations. Over

Jindal Stainless sets up fabrication unit worth ₹125 cr in Maharashtra

Jindal Stainless on Monday said it has set up a steel fabrication unit in Maharashtra, with an initial investment of Rs 125 crore, aimed at catering to the country's infrastructure sector. The unit will fabricate critical components, including bridge girders, among others, to support advanced infrastructure development in India, the company said in a statement. By FY26-27, the unit is expected to achieve an annual fabrication capacity of 18,000 tonnes, up from an estimated 4,000 tonnes in the current financial year, to meet the growing demand for sustainable, high-quality bridge infrastructure. Spread over an area of 4 lakh square feet, the facility has been set up through subsidiary Jindal Stainless Steelway Limited (JSSL) at Patalganga in Mumbai with an initial investment of around Rs 125 crore. "The fabrication unit is another step in our efforts to provide integrated solutions for customers. Bridges are critical connectors, linking people, businesses, and economic activity acro

Jindal Stainless shares slide 7% even as Q1 profit rises; here's why

Jindal Stainless fell 7 per cent after the company flagged caution over tariff uncertainty with the US, following its Q1 results

Jindal Steel Duqm to start Oman-based 5 MTPA green steel plant in 2028

Jindal Steel Duqm, a part of Naveen Jindal Group, aims to start operations at its upcoming 5 million tonnes per annum (MTPA) hydrogen-enabled green steel complex at the Special Economic Zone in Duqm (SEZAD) in Oman by 2028, a company executive said. The plant is being developed in two phases at a total investment of approximately USD 3 billion (around Rs 25,000 crore), the official said. Designed to be one of the world's most advanced hydrogen-ready steel facilities, it will initially run on natural gas but will be capable of switching to green hydrogen once the supply infrastructure matures. The complex will consist of two Direct Reduced Iron (DRI) modules of 2.5 MTPA each. While the first unit will be operationalized by December 2028, the second unit is scheduled for commissioning by 2030. Both DRI units are engineered to be hydrogen-ready from day one. According to a senior company executive, Jindal Steel Duqm has informed the Government of Oman that hydrogen will be injected in

Jindal Stainless shares rise 3% on acquiring stake in renewable energy SPV

Jindal Stainless acquired a 33.64 per cent equity stake in an SPV formed in partnership with Oyster Renewable Energy Pvt. Ltd.

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