Interview with Abhyuday Jindal, MD of Jindal Stainless

29 Jul 2023 CW Team

Jindal Stainless has recently expanded from 1.9 million tonne per annum (mtpa) to 2.9 mtpa, a capacity expansion that propels it to be among the top five stainless steel manufacturers in the world, excluding China. This expansion project – primarily brownfield in nature – required an estimated capital expenditure of around Rs 2,600 crore with the company already having invested in infrastructure and basic technology. Abhyuday Jindal, Managing Director, shares more with Jayashree Kurup, Senior Editor, on the company’s plans and prospects, and the industry….

He adds, “The timing of our expansion was opportune, considering the strong demand for stainless steel, both domestically and internationally. We have also been in a sound financial position, with our net debt/EBITDA for FY23 at 0.7, one of the best as per industry standards. Currently, our melting capacity in Hisar and Jajpur stand at 0.8 mtpa and 2.1 mtpa, respectively. However, the capacity at Jajpur can be further scaled up owing to the land bank; up to 3.2 mtpa with minimal additional investment. We will focus on stabilising the current expansion for the next couple of years.”

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