Jindal Steel And Power

Jindal Steel and Power Ltd (JSPL) on Wednesday reported 38 per cent fall in consolidated net profit at Rs 860 crore for September quarter, on account of lower revenue. It had posted a net profit of Rs 1,390 crore for the period ended September 2023, the company said in a statement. Gross income fell to Rs 13,025 crore from Rs 14,128 crore in the July-September period of 2023-24. During the second quarter, the company's steel production increased to 1.97 million tonne (MT) from 1.90 MT in the same period a year ago. Sales were at 1.85 MT as against 2.01 MT. The company said its net debt stood at Rs 12,464 crore as on September 30. The total capex for the quarter was Rs 2,642 crore, largely driven by the expansion projects at Angul. As per an exchange filing, Wollongong Resources Pty Ltd Australia, a step-down subsidiary of the company, recorded net loss after tax at Rs 35.74 crore for the quarter. "As on September 30, 2024 the accumulated losses and negative net worth of Jindal St

The steel producer said on Monday that this represents the largest investment in green hydrogen by any Indian steelmaker

In April-June, general elections, which lasted for nearly half quarter, led to muted steel demand, analysts said, which was compounded by higher costs of rebar, a key raw material for steelmakers

Given a higher conversion of semis into value-added products, JSPL expects realisation and profitability to improve

The surge came after the company announced a strong set of quarter-ending March of financial year 2024 (Q4FY24) results

JSPL projects a capex allocation ranging between Rs 7,500-10,000 crore annually for the next three-year period

Jindal officials are carrying out inspections at iron-ore plants of CVG Ferrominera Orinoco, according to two people familiar with the process, who asked not to be named as information isn't public

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

The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from Rs 518 cr

The company is exploring "new options" and a "variable freight model", Jindal said, as part of efforts to deal with the challenges posed by attacks launched by the Iran-allied Houthi militia on ships

Jindal Steel and Power (JSP) Ltd on Friday announced the commissioning of a 6 MTPA hot strip mill at its steel manufacturing facility in Angul, Odisha. The mill has been commissioned in a record time of 29 months, the hot strip mill (HSM) produced the first set of coils on January 10, 2024, which were dispatched this week on Monday, JSP said in a statement. "Supplied by SMS SIEMAG, the HSM is capable of producing 1.00 mm thick and 1,680 mm wide coils and is equipped with advanced features like transfer bar cooling, edge heater, coil box, and heat shields, ensuring top-notch flatness, uniform mechanical properties, and production of superior value-added grades," it said. Commissioning of the HSM positions the company to cater to various sectors, including auto, construction, oil, downstream cold rolling, galvanising, colour coating, etc, JSP said. "Commissioning of HSM at Angul is an important milestone for Jindal to become a serious player in the flat products market. That it has b

Jindal Steel Power Ltd on Saturday said its partnership with Rashtriya Ispat Nigam Ltd will ensure the supply of liquid steel to its upcoming hot strip mill at Angul in Odisha. In a statement, JSPL said it has entered into a memorandum of understanding (MoU) with RINL for the operationalisation of the latter's blast furnace-3 (BF-3). "The tie-up with RINL will release additional liquid steel for slab casting and onward rolling into hot rolled coils from JSPL's upcoming state-of-the-art hot strip mill at Angul which is slated for commissioning soon," it said. The blast furnace BF-3 at the RINL plant in Visakhapatnam has been closed since January 2021. The restart of the BF-3 is planned for December 30, 2023, at a capacity of 2 lakh tonnes of hot metal per month. "We extend wishes to the management and employees of RINL for embarking on this partnership," JSPL Managing Director (MD) Bimlendra Jha said. On Friday, RINL said JSPL will provide working capital support or raw material su

Analysts at Prabhudas Lilladher cut FY24/25E Ebitda estimates by 9 per cent/7 per cent on higher coking coal price assumption and delays in capacity addition

Dr.Reddy's, Apollo Tyres and Jindal Steel are among the five stocks which have seen rollovers of up to 88 per cent to the November series.

Jindal Steel and Power (JSP) is planning to make its Angul unit India's largest single-location steel manufacturing facility, its Managing Director Bimlendra Jha has said. Currently, the capacity of the Odisha plant is being ramped up to 11.6 million tonnes per annum (MTPA) from the existing 5.6 MTPA, Jha told PTI in an interaction. "We are more than doubling the capacity in Angul by next year...we have ambitions to further double it up to 24 MTPA, making it India's largest single-location steel plant," the managing director said without sharing any timeline for the plan. The steel plant in Raigarh will also undergo an expansion of up to 9.6 MTPA from the current 3.6 MTPA, the company said in a statement. On the expansion of the Angul plant, Jha said the company aims to complete the trial production by the end of 2023 and commercial production by next year. On the outlook for the sector, Jha said India is on a growth trajectory. The government's thrust on infrastructure projects h

Jindal Steel & Power "completely and categorically denies signing of any agreement or committing to any investment in Venezuela," according to a statement

We did see some increase in the order book and a lot of enquiries (from Europe): Bimlendra Jha, managing director of Jindal Steel and Power

Revenue from operations on a consolidated basis at Rs 12,452.44 crore declined by 0.57 per cent over the same period last year

The contribution of Jindal Steel's exports to its sales on a standalone basis fell to 5% in the quarter from 23% a year ago

Monnet Power Assets, once operational, will provide an opportunity for the company to improve the heat rate, resulting in lower usage of coal in the power plant, said ICICI Securities in its report.