Jindal Steel and Power

Jindal Steel and Power Limited (JSPL) is an Indian steel company based in New Delhi.[4] JSPL is a part of OP Jindal Group.[5]

Jindal Steel and Power
TypePublic
ISININE749A01030
IndustrySteel, Energy
FounderO P Jindal
HeadquartersNew Delhi, India[1]
Area served
Worldwide
Key people
Naveen Jindal (Chairman)[2]
Bimlendra Jha[2] (MD)
ProductsSteel, Iron, Electricity generation and distribution
RevenueIncrease ₹52,768.23 crore (US$6.6 billion) (2023)[3]
Decrease ₹4,485.49 crore (US$560 million) (2023)
Decrease ₹3,974.09 crore (US$500 million) (2023)
Total assetsDecrease ₹69,427.23 crore (US$8.7 billion) (2023)
Total equityDecrease ₹39,019.03 crore (US$4.9 billion) (2023)
Number of employees
21,000 (2022)
SubsidiariesJindal Petroleum Limited
JSPL Machinery
Jindal Cement
Jsp Metallics Limited
Jindal Infosolutions Ltd
Jindal Synfuels Ltd
Jindal Minerals & Metals
Jindal Power
Raigarh Pathalgaon Expressway Ltd.
Websitejindalsteelpower.com

In terms of tonnage, it is the third largest private steel producer in India and only private player in India to produce rails. The company manufactures and sells sponge iron, mild steel slabs, rails, mild steel, structural, hot rolled plates, iron ore pellets and coils.[6] Jindal Steel and Power set up the world's first coal-gasification based DRI plant at Angul, Odisha that uses the locally available high-ash coal and turns it into synthesis gas for steel making, reducing the dependence on imported coke-rich coal. JSPL's coal gas-based steel tech became a case study at Harvard University.[7]

Operations

Angul

Recently Union steel minister Ram Chandra Prasad Singh inaugurated Jindal Steel's 1.4 MTPA TMT rebar mill at its integrated complex in Odisha's Angul district.[8]

Barbil

JSPL's pellet plant at Barbil has a total installed capacity of 9 MTPA [9] production for different pellet grades. The plant includes a dry grinding facility that harnesses the recuperation type of straight grate technology.

Patratu

JSPL's manufacturing facility at Patratu, Jharkhand has a total finished steel capacity of 1.6 MTPA.[10]

Listings and shareholding

The equity shares of JSPL are listed on the Bombay Stock Exchange[11] and the National Stock Exchange of India.[12]

Shareholding: On 31 March 2022, the promoter group Jindal Group held 60.5% of its equity shares. 27% of the shares were owned by the Institutional Investors. Public shareholders own approx. 12.5% of its shares.[13][14]

Shareholders (as on 31-March-2022)Shareholding[13][14]
Promoter Group (Jindal Family)60.45%
Foreign Institutional Investors (FII)/NRI/OCB/Trusts/Foreign national9.7%
Public12.5%
Financial Institutions/Banks/Mutual Funds/UTI/Insurance companies/Central Government27%
Total100.0%

Initiatives

Jindal Panther TMT Rebars
JSPL has forayed into construction retail industry with the launch of Jindal Panther TMT Rebars for the housing segment. These rebars are manufactured in 1.0 MTPA capacity TMT Rebar mill at Patratu, Jharkhand, supplied by Siemens.[15]

Jindal Institute of Power Technology (JIPT)
JIPT was established to develop a pool of technically trained power plant professionals for power utilities of India and abroad. The course authorizes the pass outs to operate or undertake maintenance of any part or whole of a generating stations of capacity 100 MW & above together with the associated sub stations.

It is promoted by Jindal Education & Welfare Society, which is supported by Jindal Power Limited. The Institute possesses a simulator of 250 MW/600 MW generating units. JIPT is located in the 4X250, 4X600 MW Jindal Tamnar Thermal Power Plant in Tamnar, Raigarh, Chhattisgarh.

Controversies

Involvement in coalgate scam
Jindal Steel and Power was one of the two private companies to get a coal field in February 2009. JSPL got the Talcher coal field in Angul with reserves of 150 crore (1,500 million) metric tonnes after the cut-off date by the Central Government, while the Government-run Navratna Coal India Ltd was refused.[16]

Both the blocks were in Odisha, with a combined worth of over ₹2 lakh crore and were meant for liquification of coal. The opposition parties alleged that the Government violated all norms to grant the coal fields. Naveen Jindal, however, denied any wrongdoing.[17]

Iron ore reserve mining in Bolivia
On 3 June 2006, Bolivia granted development rights for one of the world's largest iron ore reserves in the El Mutún region to Jindal Steel. With an initial investment of US$1.5 billion, the company plans to invest an additional US$2.1 billion over the next eight years in the South American country.[18]

Jindal Steel is likely to terminate the contract of investing $2.1 billion in setting up a steel plant in Bolivia, due to non-fulfilment of contractual obligations by the Bolivian Government.[19]

References
  1. "Jindal Steel Power || Home". Archived from the original on 22 February 2014. Retrieved 24 September 2010.
  2. "Management Details". Jindal Steel and Power. Archived from the original on 12 May 2020. Retrieved 5 June 2020.
  3. "Jindal Steel and Power Ltd. Financial Statements" (PDF). jindalsteelpower.com. Archived from the original on 16 May 2023. Retrieved 16 May 2023.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  4. "Jindal Steel & Power on the Forbes Global 2000 List". Forbes. 31 May 2013. Archived from the original on 2 December 2013. Retrieved 1 December 2013.
  5. Mgazine Feature (28 June 2021). "Amazing turnaround of JSPL". businessindia.co. Archived from the original on 19 May 2022. Retrieved 29 June 2022.
  6. "Jindal Steel & Power Ltd". Business Standard India. Archived from the original on 9 February 2022. Retrieved 9 February 2022.
  7. "JSPL's coal gas-based steel tech in Harvard case study". Business Standard India. Press Trust of India. 18 January 2015. Archived from the original on 8 June 2022. Retrieved 29 June 2022.
  8. Ujjval Jauhari (30 April 2022). "Steel minister inaugurates Jindal Steel's TMT rebar mill in Angul, Odisha". livemint.com. Archived from the original on 2 July 2022. Retrieved 29 June 2022.
  9. Business Correspondent (28 April 2019). "JSPL's Barbil Pellet plant achieves rare production feat". The Pioneer. Archived from the original on 29 June 2022. Retrieved 29 June 2022. {{cite news}}: |author= has generic name (help)
  10. Business Correspondent (2 April 2022). "Naveen Jindal visits steel plant at Patratu". Times of India. Archived from the original on 29 June 2022. Retrieved 29 June 2022. {{cite news}}: |author= has generic name (help)
  11. "Jindal Steel and Power Limited". BSEindia.com. Archived from the original on 3 December 2013. Retrieved 2 December 2013.
  12. "Jindal Steel and Power Limited". NSE India. Archived from the original on 3 December 2013. Retrieved 2 December 2013.
  13. "Annual Report 2020-21" (PDF). Jindal Steel and Power. Archived (PDF) from the original on 30 October 2022. Retrieved 29 June 2022.
  14. "Shareholding pattern". BSE India. 29 June 2022. Archived from the original on 12 March 2023. Retrieved 29 June 2022.
  15. "JSPL launches 'Jindal Panther' TMT Rebars". 8 August 2013. Archived from the original on 22 February 2014. Retrieved 24 February 2014.
  16. "Coalgate: Norm violated by government to favour Naveen Jindal". IBN Live. 6 September 2012. Archived from the original on 8 December 2013. Retrieved 1 December 2013.
  17. "Congress MP Naveen Jindal blames government for coalgate". IBN Live. 7 September 2012. Archived from the original on 8 December 2013. Retrieved 1 December 2013.
  18. "India's Bolivian ore". The Australian. 3 December 2007. Archived from the original on 11 August 2011. Retrieved 11 September 2013.
  19. "Jindal Steel to exit from $2-b mining contract with Bolivia". 9 June 2012. Archived from the original on 11 June 2012. Retrieved 9 June 2012.
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