Jindal Stainless Steel

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

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

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

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

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 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 ...

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

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 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.

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 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 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 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 .

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 .

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.

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

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

Jindal Stainless Ltd on Monday said it has elevated Whole Time Director Tarun Khulbe as Chief Executive Officer (CEO). A decision in this regard was taken at the company's board meeting last week, Jindal Stainless Ltd (JSL) said in a regulatory filing. "The board has approved the elevation of Tarun Khulbe as the Chief Executive Officer & Whole Time Director," it said. He has been serving as the Whole Time Director of the company since May 2018. He will continue to hold the post besides that of the CEO, the company said. Khulbe has around 35 years of industry experience in business development, supply chain management, people practices and IT enablement. "His experience in crafting long-term business strategies and strengthening all facets of operations and sales has been commendable. At a time when the company is expanding and maturing its upstream and downstream linkages, having Khulbe at the helm of affairs is critical to our growth plans," JSL Managing Director Abhyuday Jindal

Jindal Stainless Ltd (JSL) MD Abhyuday Jindal has urged the government to remove import duty on raw materials in the upcoming Union Budget, a move, the industry leader said, will provide a level-playing field to domestic players. He suggested levying Basic Customs Duty (BCD) on imports as the domestic market is being affected by cheap and sub-standard stainless steel products from select group of countries like China and Vietnam. "One long-standing requirement of the stainless steel industry has been that there are certain raw materials that are not present in the country like ferro nickel and ferro molybdenum," Jindal told PTI. At present, 2.5 per cent import duty is levied on ferro nickel and 5 per cent on ferro molybdenum. Speaking further on Budget expectations, the JSL MD said severe dumping is happening from China, Vietnam, and certain countries with which India has Free Trade Agreements (FTAs). This is putting severe pressure on MSMEs and preventing the stainless steel indu

Revenue from operations at Rs 9,127.45 in Q3FY24 crore was higher from Rs 9,062.50 crore in the same period last year