Page 4 - Steel Industry

JSW, Japan's JFE to invest ₹5,845 cr in India to scale up steel production

JSW and Japan's JFE Steel to jointly invest ₹5,845 crore to boost cold rolled grain-oriented steel output in Nashik and Vijayanagar amid rising demand for energy-efficient materials

Mangalam Worldwide Q1 results: PAT jumps 68% to ₹10.13 cr, revenue up 21%

Stainless-steel manufacturer Mangalam Worldwide Ltd on Saturday reported a over 68 per cent jump in its profit after tax to Rs 10.13 crore for the April-June quarter of 2025-26 compared to the year-ago period. Total income of the company rose by more than 21 per cent to Rs 279.41 crore in the first quarter of FY2025-26 against Rs 230.21 crore in the year-ago period, the company said in a statement. "The company has showcased robust growth powered by improved efficiencies and rising demand for stainless steel across key markets, Mangalam Worldwide Ltd Chairman Vipin Prakash Mangal said. Adjusted EBITDA increased by 53.04 per cent to Rs 19.72 crore in the June quarter compared to Rs 12.88 crore in the first quarter of FY25, Mangal said, adding that EBITDA margins were upwards of 7.1 per cent. Gujarat-based Mangalam Worldwide is an integrated stainless steel manufacturer, with operations ranging from scrap melting to the manufacturing of seamless pipes and tubes.

Steel quality control order duplicative and hurts MSMEs, says GTRI

The report also flagged potential market distortion, citing exemptions for finished products like welded pipes, which appear to favour value-added imports over domestic manufacturing

'UK steel ops to break even by FY26 as Tata cuts blast furnace losses'

Tata Steel's top brass on trade headwinds, European operations, MSME concerns, and India expansion plans amid Q1FY26 profit surge

Green steel demand to reach 4.49 MT by 2030: EY-Parthenon report

From a negligible level at present, the demand for green steel in the country is expected to reach 4.49 MnT by 2030, driven by sectors like construction, infrastructure and automobiles, Ernst & Young (EY)-Parthenon said in a report. Five years from now, 2030 is seen as an important year for Indian steel as the government aims to achieve ambitious target of 300 million tonnes (MnT) annual steel making capacity under its National Steel Policy 2017. Although demand for green steel in India is currently negligible, it is expected to rise significantly over the coming decades, said the report titled 'Unlocking Green Steel Demand: An assessment of India's automotive, infrastructure and construction sectors.' Steel produced through low carbon emitting process is referred as green steel. The report has been prepared in collaboration with WWF-India & CII-Green Business Centre (GBC). "By FY 2029-30, the demand for green steel is projected to reach 4.49 MnT, driven primarily by the ...

CAG pulls up steel maker SAIL for over-consumption of imported coal

Steel maker SAIL consumed imported coal more than the permitted levels between 2016 and 2023, resulting in additional expenditure to the extent of Rs 2,539.68 crore, a CAG report has said. CAG also flagged that Steel Authority of India Ltd (SAIL) had not fixed any benchmark for inventory carrying cost per tonne of raw material, semi-finished material and finished goods. This happened despite the fact that on an average, SAIL had an inventory of Rs 21,698 crore during 2016-17 to 2022-23, constituting about 67 per cent of its current assets, the CAG report said. As per the report titled 'Inventory Management in SAIL', the company's "steel plants consumed imported coal more than the norms fixed by the management". "Higher consumption of imported coal which was costlier than the indigenous coal resulted in potential additional expenditure to the extent of Rs 2,539.68 crore during 2016-2023," the Comptroller and Auditor General (CAG) report said. The report of the CAG of India on ...

Govt may mandate public procurement of 25% sustainable green steel

Ashwini Kumar, economic advisor to the Ministry of Steel, confirmed that public procurement would play a key role in creating a market for low-emission steel

The world has too much steel, but no one wants to stop manufacturing it

Excess steel production is estimated to reach 721 million tons by 2027, according to the Organization for Economic Cooperation and Development

Lloyds Metals aims to invest over ₹40,000 crore more in Gadchiroli

Lloyds Metals and Steel is targeting to invest over Rs 40,000 crore to develop a steel plant and other units in Vidarbha's Gadchiroli district over the next five years, a top official said on Tuesday. The law and order situation in the eastern Maharashtra district impacted by Left Wing Extremism (LWE) is improving, and attempts are essential to mainstream the youth, its managing director B Prabhakaran told PTI over the phone. Chief Minister Devendra Fadnavis, who is also the guardian minister of the district, inaugurated a 90-km pipeline and a pellet plant built by the company in Gadchiroli earlier in the day. "We have a Rs 45,000 crore investment plan for the district, of which Rs 5,000 crore has already been invested," Prabhakaran, who calls himself the 'managing director in residence', said. When asked how it will fund the capital expenditure in Gadchiroli, Prabhakaran said it will depend on internal accruals and also raise fresh funds if need be. He reminded that last year, it

JSW Steel has good prospects on lower costs but stock fully valued

Revenue growth could come from volumes along with some price recovery. As input costs are soft, EBITDA margin may rise to 18-19 per cent if safeguard duty is in force

Port Talbot's green furnace marks end of costly firefighting for Tata Steel

Port Talbot, Tata Steel's upstream steelmaking facility in South Wales, had largely been a drag on the company's bottom line since it acquired Anglo-Dutch steelmaker Corus in 2007

JSW Steel Q1 results: Profit up over 2x on volumes, low coking coal cost

The firm's total revenue, on a consolidated basis, increased 0.5 per cent to ₹43,147 crore from ₹42,943 crore last year. The Bloomberg estimate for revenue was ₹43,004 crore

AM/NS India commissions auto steel line at Hazira plant to reduce imports

Hazira facility can produce high-strength steel of up to 1,180 MPa for automotive use; part of Rs 8,500 crore expansion to lift downstream capacity to 5 mt

Switch to green steel in India will take decades, say industry leaders

Industry leaders have called for a gradual, step-by-step transition to green steel, urging supportive government policies and a focus on reducing emissions as part of India's sustainable growth agenda

Steel industry calls for safeguard measures to protect local players

Calling for protectionist measures to check cheap steel imports, Jindal Stainless Managing Director Abhyuday Jindal on Thursday said that the country has sufficient steel production capacity to meet the local demand. Jindal also said that in addition to the US and Europe, countries with very low steel production are also adopting protective measures. It is very important to protect "our country," Jindal said while addressing an Indian Chamber of Commerce's event here. "The US has done it, Europe has been doing it for quite some time. Now, nations like in the Middle East, where there is not much steel production, Canada, where there isn't much steel production, are also going for some kind of protectionist measures," Jindal, who is also the President of the Indian Chamber of Commerce, said. Jindal also appreciated the steps taken by the government to safeguard the interest of the domestic steel industry. "There was substandard, Chinese material coming in (through) from Vietnam...Ou

Tata Steel expects UK unit to turn EBITDA-positive in FY25 amid green shift

Tata Steel eyes turnaround in UK with green steel plans as chairman Chandrasekaran confirms ₹15,000 crore annual capex and targets 40 mt capacity in India

Apr-May finished steel imports fall 27.6% as China, Japan shipments decline

India was a net importer of finished steel during the period, with exports falling 18.1 per cent year-on-year to 0.8 million metric tonnes

Tata Steel gets show cause notice worth ₹1,007 cr over input tax credit

Tata Steel receives ₹1,007 crore GST notice for alleged input tax credit irregularities from FY19 to FY23; company says ₹514 crore already paid

Steel ministry's order on compliance for inputs can hurt downstream users

The latest order gives a table listing 144 steel items with their IS and the inputs and their IS for making 124 of those items

Arisinfra Solutions subscribed 2.6x; Sambhv Steel prices IPO at ₹77-₹82

Sambhv Steel IPO is a mix of fresh issue of equity shares valued at ₹440 crore and an offer for sale of shares worth ₹100 crore by promoters