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Jindal Steel And Power - India's Fastest Growing Steel Company 2013

November 2013
Fastest Growing Steel Company - Jindal Steel And Power

With an annual turnover of over $4 billion, Jindal Steel & Power Ltd (JSPL) is a part of about $12 billion diversified OP Jindal Group. The company produces steel and power through backward integration from its own captive coal and iron-ore mines. However, in terms of tonnage, it is the third largest steel producer in India. The company manufactures and sells sponge iron, mild steel slabs, ferro chrome, iron ore, mild steel, structural, hot rolled plates, coils and coal based sponge iron plant. The company has drawn up 'Vision 2020', which combines domestic and international initiatives intended to take JSPL to the next level of a $20 billion company. JSPL already has a presence in South Africa, Madagascar, Mozambique, Tanzania and Zambia and has embarked on an expansion journey in markets like Australia and South America to reduce its dependence on local resources from India. The company operates the largest coal-based sponge iron plant in the world and has an installed steel capacity of 3 mtpa at Raigarh in Chhattisgarh, a 0.6 mtpa wire rod mill and a 1 million tonne capacity bar mill at Patratu, Jharkhand, and a plate mill to produce upto 5 m wide plates at Angul, Odisha. The company has bagged a Rs 500 crore order from Power Grid Corporation of India Ltd (PGCIL) for the supply of 80,000 tonne of steel and to set up two transmission towers in Southern India, amongst others.

The company's standalone revenue in 2012-2013 rose 12.62 per cent to Rs 16,329.76 crore while its net profit declined 6.36 per cent to Rs 3,915.44 crore from Rs 4,181.50 crore in the previous year.