Founded by OP Jindal in 1970, Jindal Stainless (JSL) has a stainless steel manufacturing complex in Jajpur, Odisha, spread over nearly 800 acre. With a total melt capacity of 0.8 mtpa with scalable infrastructure in place, Jindal Stainless has an annual steel melt capacity of 1.6 mtpa and an annual turnover of $3.1 billion (as in March 2018). Abhyuday Jindal, Managing Director, Jindal Stainless, shares more...
Highlight one major challenge faced in FY2017-18.
We anticipated a mild slowdown in business with the onset of the GST regime in July 2017 owing to the transition time required between tax regimes.
As a strategic move to capitalise on this opportunity, we planned a shutdown in June 2017.
This helped optimise inventory, improved working capital and increased revenue growth. Another problem hindering the increased use of stainless steel in our country has been lack of skilled fabricators to deliver quality products to end-consumers. We undertook the challenge of up-skilling stainless steel fabricators. We initiated a Stainless Steel Fabricator Training Programme across India, where our technical experts imparted onsite knowledge to fabricators about the metal, including selection of the right grade.
What decision do you consider the biggest contributor to the companys growth in FY17-18?
We completely overhauled the way we dealt with our customers. Major improvements in product packaging and delivery timing, along with flexi payment terms, periodic communication, special benefits for MoU partners to incentivise association, and aiding technical training of customers were the key initiatives. It helped us ramp up our volumes towards 100 per cent capacity utilisation and, consequentially, had a positive impact on profitability.
We also initiated digitisation across business verticals by migrating to SAP HEC (cloud computing).
We brought our mines and the Indonesia plant onboard the SAP programme and have completed the first phase of C4C for enhanced customer experience.