![]() | This article may contain an excessive amount of intricate detail that may interest only a particular audience.(September 2023) |
![]() | |
![]() JSW Vijaynagar Works, Toranagallu in the Bellary-Hospet, Kanataka, India | |
Company type | Public |
---|---|
ISIN | INE019A01038 |
Industry | Steel |
Founded | 1982 |
Founder | Sajjan Jindal (chairman) |
Headquarters | Mumbai, Maharashtra, India |
Area served | Worldwide |
Key people | Sheshagiri Rao MVS, Jayant Acharya |
Products | Steel, flat steel products, long steel products, wire products, plates |
Revenue | ![]() |
![]() | |
![]() | |
Total assets | ![]() |
Total equity | ![]() |
Number of employees | 13,128 (2021) [1] |
Parent | JSW Group |
Subsidiaries | Amba River Coke Asian Colour Coated Ispat Limited JSW Bhushan Power and Steel Ltd. Neotrex Steel Private Limited Hasuad Steel JSW Ispat Steel JSW Bengal Steel JSW Energy (Bengal) JSW Industrial Gases JSW Jharkhand Steel JSW Natural Resources Bengal JSW Utkal Steel Welspun Maxsteel Ltd JSW MI |
Rating |
|
Website | www |
JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. [4] After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company. [5]
JSW Steel's history can be traced back to 1982, when the Jindal Group acquired Piramal Steel Limited, which operated a mini steel mill at Tarapur in Maharashtra and renamed it as Jindal Iron and Steel Company (JISCO). [6] Soon after the acquisition the group set up its first steel plant in 1982 at Vasind, near Mumbai. [7]
Later, in 1994, Jindal Vijayanagar Steel Limited (JVSL) was set up with its plant located at Toranagallu in the Bellary-Hospet area in the State of Karnataka, the heart of the iron ore belt and spread over 10,000 acres (40 km2) of land. It is well connected to both the Mormugao Port and Chennai Port and is 340 kilometres from Bangalore. It is said to be the sixth largest steel plant in the world. [6]
In the year 2005, JISCO and JVSL merged to form JSW Steel Limited. [8] It also set up a plant at Salem with an annual capacity of 1 million tonnes. [4]
As of July 2023, the installed with a production capacity of 29.7 MTPA in India and the United States. [9] The company is aiming to boost the total steel production capacity to 38.5 MTPA by the financial year 2025. [10]
As of April 2023, nearly 98% of JSW Steel's revenue comes from steel and related products — long rolled products (18%), galvanised coils/sheets (15%), CR coils/sheets (9%), plates/pipes (5%), other miscellaneous steel products (5%), and iron ore (2%), in that order. Overall, 70% of revenue is derived from India, and 30% is from overseas. [11] The company historical emphasis has primarily been on flat products, stemming from its origins in a cold rolling mill. As part of its corporate strategy, the company typically directs half of its flat products to downstream facilities for additional value-enhancing processes like galvanizing, coating, or tinning. [12]
JSW Steel reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 March 2021 at 37,523.07 Kt (-2,998 /-8.6% y-o-y). [13]
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
---|---|---|---|---|---|
32,101 | 38,496 | 42,153 | 45,848 | 40,522 | 37,523 |
JSW Steel plans to utilize energy from a forthcoming 3,800-tonne hydrogen plant at its Vijayanagar facility, aiming to provide green steel at a premium price within the next 18–24 months. The company has established an agreement with its affiliate, JSW Energy, to procure green hydrogen and green oxygen for the production of sustainable steel. [14] [15] Additionally, the company will earn carbon credits based on the amount of conventional thermal power that is substituted with green energy. [16] By 2030, the company plans to set up a green steel plant to comply with the European Union’s Carbon Border Adjustment Mechanism [17] and gradually reduce it use of blast furnaces throughout its value chain. [18]
In 2007, JSW Steel formed a joint venture for a steel plant in Georgia. [30] Any by 2020, it sold of 39 percent stake which it held in JV to Georgian Steel Group Holdings Limited. [31]
In 2009, Japan's JFE Steel, entered into a strategic partnership with JSW Steel to produce automotive steel products. [32]
In 2014, it acquired Welspun Maxsteel Limited in a deal valued at around INR 1,000 Crores. [33] [34]
In 2018, JSW Steel Italy acquired 100% shares of Aferpi S.p.A, Piombino Logistics, and 69.27% of GSI Lucchini S.p.A's share capital from Cevitaly S.r.l for €55 million. [35]
In 2019, JSW Steel acquired Bhushan Power & Steel. This resulted in the absorption of an integrated steel plant in Rengali, Sambalpur, with a capacity of 2.5 million tonnes annually. [36]
in 2020, JSW Ispat Steel was acquired by JSW Steel, 20 months after the latter acquired a controlling stake in Monnet Ispat Industries. [37]
In April 2021, the company acquired Plate and Coil Mill Division (PCMD) of Welspun Corp for a sum of ₹848.5 cr. [38] [39]
In October 2021, JSW Steel acquired 51% stake in Neotrex Steel from JSW Group promoters and entered into an under-construction project to manufacture Low Relaxation Prestressed Concrete (LRPC). [40]
In October 2022, JSW Steel initiated a process to acquire Central-India based National Steel & Agro (NSAIL) through resolution plan submitted under the corporate insolvency resolution process. The company makes flat steel products such as cold-rolled coil, galvanised corrugated sheets, colour coil and pre-painted profile sheets and owes lenders over Rs 1,600 crore. [41] [42] In May 2023, the company got the final nod from National Company Law Tribunal for the acquisition. [43]
In January 2023, JSW Steel entered into an agreement via one of its subsidiary to acquire 31 percent stake in startup Ayena Innovation which deals in home furnishings and interior decoration sector. [44] [45]
In May 2023, JSW Steel reached an in-principle agreement with JFE Steel to establish a 50:50 joint venture to manufacture cold-rolled grain-oriented (CRGO) electrical steel in India. [46] [47]
In March 2024, JSW Steel Italy SRL inked an MoU with the Government of Italy to invest €140 million in restarting production at the Piombino plant. [48] JSW Steel's fate in Italy hinged largely on contracts from Italian railway authorities. Faced with this uncertainty and rising costs due to geopolitical issues like the Russo-Ukrainian War, the company explored disinvestment. [49] However, this new agreement aims to double rail-making capacity to 600,000 tonnes per year in Piombino, enhancing local employment and reducing imports. Investments will modernize the rail mill with a tandem mill, head hardening facility, and longer rails (from 108 to 120 meters). [48]
JSW Steel currently possesses a total of 13 iron ore mines, with nine located in Karnataka and four in Odisha. Additionally, they have obtained three coking coal mines. During the fiscal year 2022, the company fulfilled 43% of its iron ore needs from its own mines. [50]
In May 2023, JSW Steel bagged iron ore blocks in the Surjagarh area of Maoist-affected Gadchiroli district in Maharashtra after bidding for a composite license through government auctions. [51]
As of 2023, discussions are underway between the company and BHP regarding the potential acquisition of the latter's Daunia and Faunus coking coal mines in Queensland. These mines possess a capacity of 20 million metric tons per annum (MTPA). [52] In the past, JSW Steel has additionally acquired mining assets in the United States, [53] the Republic of Chile, [54] and Mozambique. [55]
Based on the latest information as of August 2023, JSW Steel is actively seeking partners to put forth a proposal to acquire a 75% share in Teck Resources' coal mining assets. [56] This move could potentially compete with a substantial $8 billion bid made by the commodities giant Glencore. [57] [58]
In 2024, media reports indicate that JSW Steel is vying against global steel giant Nippon Steel and other contenders to secure a 20% stake in Australia's Blackwater coal mine from Whitehaven Coal. Last October, Whitehaven acquired Blackwater and Daunia coal mines from BHP for $3.2 billion. [59] [60]
Steel Authority of India Limited (SAIL) is a central public sector undertaking (PSU) based in New Delhi, India. It is under the ownership of the Ministry of Steel, Government of India with an annual turnover of ₹105,398 crore (US$13 billion) for the fiscal year 2022-23. Incorporated on 24 January 1973, SAIL has 57,139 employees. With an annual production of 18.29 million metric tons, It is the largest government owned steel producer. The hot metal production capacity of the company will further increase and is expected to reach a level of 50 million tonnes per annum by 2025.
Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.
Vedanta Limited is an Indian multinational mining company headquartered in Mumbai, with its main operations in iron ore, gold and aluminium mines in Goa, Karnataka, Rajasthan and Odisha.
The Aditya Birla Group (ABG) is an Indian multinational conglomerate, headquartered in Mumbai. The group has a presence in 36 nations and a combined annual revenue of $75 billion, over 50% of which is derived from its overseas operations. The group's business interests include metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, mining, and entertainment.
Bharti Enterprises Limited is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.
The economy of Gujarat, a state in Western India, is the most industrialised in India, having the highest industrial output of any state in the union.It has the highest exports of any Indian state, accounting for 33% of all Indian exports in 2022-23. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest Electricity Production Capacity and Maritime Port Cargo Volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.
Sajjan Jindal is an Indian billionaire industrialist. He is the chairman and managing director of JSW Group of companies; diversified in steel, mining, energy, sports, infrastructure and, software business.
JSW Ispat Steel Ltd (JISL) was an Indian company with operations in iron, steel, mining, energy and infrastructure. It was set up as Nippon Denro Ispat Limited in May 1984 by founding chairman M. L. Mittal. It was listed on the Bombay Stock Exchange and National Stock Exchange of India until 2013 when it was merged with JSW Steel. It was headquartered in Mumbai and employed about 3,000 people.
Jaiprakash Associates Limited, commonly known as Jaypee Group, is an Indian conglomerate company headquartered in Noida, Uttar Pradesh, with interests in engineering, construction, power, real estate, hospitality, IT, sports and education (non-profit).
JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and is part of the O.P. Jindal Group. The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa.
Welspun Living Limited, previously known as Welspun India Limited, is an Indian textile manufacturing company headquartered in Mumbai. Founded by Balkrishan Goenka in 1985, the company produces home textile products such as bed linen, terry towels, rugs, and yarn. Welspun operates several brands, including Christy, Spaces and Welhome, and is led by Dipali Goenka, who serves as the CEO and managing director.
Welspun Energy Private Limited is an independent power company based in New Delhi, India. It is a subsidiary of Welspun Group.
Rashtriya Ispat Nigam Ltd,, also known as Vizag Steel, is a central public sector undertaking under the ownership of Ministry of Steel, Government of India based in Visakhapatnam, India. Rashtriya Ispat Nigam Limited (RINL) is the government entity of Visakhapatnam Steel Plant (VSP), India's first shore-based integrated steel plant built with state-of-the-art technology. Visakhapatnam Steel Plant (VSP) is a 7.3 MTPA plant. It was commissioned in 1992 with a capacity of 3.0 MTPA of liquid steel. The cpsu subsequently completed its capacity expansion to 6.3 MTPA in April 2015 and to 7.3 MTPA in December 2017. The PSU is having one subsidiary, viz. Eastern Investment Limited (EIL) with 51% shareholding, which in turn is having two subsidiaries, viz. M/s Orissa Mineral Development Company Ltd (OMDC) and M/s Bisra Stone Lime Company Ltd (BSLC). The CPSU has a partnership in RINMOIL Ferro Alloys Private Limited and International Coal Ventures Limited in the form of Joint Ventures with 50% and 26.49% shareholding respectively.
NMDC Steel Limited was formed under Government of India under Ministry of Steel with the help of NMDC's resources for setting up a 3 MTPA capacity greenfield Integrated Steel Plant based on Hi-Smelt technology in Nagarnar, located 16 km from Jagdalpur in Chhattisgarh state with an estimated outlay of Rs. 25500 crore. A pure-play miner, NMDC had in 2009-10 conceived the Nagarnar steel plant with the intention of moving up the value chain and diversifying its portfolio. The idea was also to hedge itself against the vagaries of iron ore prices. This is the only new large-scale steel plant currently fully ready to start production India, with little likelihood of a new plant of similar size plant coming up in the next few years. Tata Steel and JSW Steel are expanding capacity at their existing mills.
Adani Enterprises Limited (AEL) is an Indian multinational publicly-listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsidiaries, it also has business interests in airport operations, edible oils, road, rail and water infrastructure, data centers, and solar manufacturing, among others.
Parth Jindal is an Indian businessman and scion of JSW Group.
The Iron and Steel industry in India is among the most important industries within the country. India surpassed Japan as the second largest steel producer in January 2019. As per worldsteel, India's crude steel production in 2018 was at 106.5 tonnes (MT), 4.9% increase from 101.5 MT in 2017, which means that India overtook Japan as the world's second largest steel production country. Japan produced 104.3 MT in year 2018, decrease of 0.3% compared to year 2017.
Dr. Tapan Kumar Chand is an Indian mining veteran, executive, and author. He is the Resident Director of Vedanta Limited. He was the chairman cum managing director of National Aluminium Company. NALCO is the largest integrated aluminium unit in Asia and is also one of the largest aluminium complexes of the world. He has been in the mining and metal sector since 1982, earlier serving as the director commercial of Rashtriya Ispat Nigam Limited / Visakhapatnam Steel Plant and Director Personnel & Director I/c, of Central Coalfields Limited.
Titagarh Rail Systems Limited, formerly known as Titagarh Wagons Limited, is an Indian rolling stock manufacturer in the private sector. Established in 1984 as a rolling stock foundry unit, the company's headquarters are situated in Kolkata, West Bengal. Titagarh is publicly traded on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
JSW MG Motor India Pvt Ltd, previously MG Motor India Private Limited until 2024, is an automobile manufacturer in India, which was established in 2019. Since 2023, it is a joint venture between the Mumbai-based Indian multinational conglomerate JSW Group and Shanghai-based Chinese automotive manufacturer SAIC Motor, which markets vehicles under the British MG marque.
{{cite web}}
: CS1 maint: multiple names: authors list (link){{cite web}}
: CS1 maint: multiple names: authors list (link)