View source for Jindal Steel

{{short description|Indian multinational steel and infrastructure company}}
{{Use Indian English|date=October 2020}}
{{Use dmy dates|date=March 2014}}
{{Infobox company
| name = Jindal Steel Limited
| logo = Jindal Steel Limited Logo.png
| image = Jindal Centre Raigarh.png
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|532286}}|{{NSE|JINDALSTEL}}}}
| founder = [[O P Jindal]]
| location = [[New Delhi]], India<ref>{{Cite web|url=http://www.jindalsteelpower.com/contact/network-address.aspx|title=Jindal Steel Power &#124;&#124; Home|access-date=24 September 2010|archive-date=22 February 2014|archive-url=https://web.archive.org/web/20140222145400/http://www.jindalsteelpower.com/contact/network-address.aspx|url-status=dead}}</ref>
| area_served = Worldwide
| key_people = [[Naveen Jindal]] ([[Chairman]])<ref name=MgmtDetails>{{cite web |url=https://www.jindalsteelpower.com/key-management-personnel.html |title=Management Details |publisher=Jindal Steel |access-date=June 5, 2020 |archive-date=12 May 2020 |archive-url=https://web.archive.org/web/20200512100918/https://jindalsteelpower.com/key-management-personnel.html |url-status=live }}</ref><br />{{nowrap|Bimlendra Jha<ref name=MgmtDetails/> ([[Managing director|MD]])}}
| ISIN = {{ISIN|sl=n|pl=y|INE749A01030}}
| industry = [[Steel]], [[Energy industry|Energy]]
| products = [[Steel]], [[Iron]], [[Electricity generation]] and [[Electricity distribution|distribution]]
| revenue = {{decrease}} {{INRConvert|50183|c}} (2024)<ref name="Financials">{{cite web |url= https://www.bseindia.com/xml-data/corpfiling/AttachLive/46cf2886-f327-433a-a26a-ece2cab12ff2.pdf |title= Jindal Steel and Limited. Financial Statements |website= jindalsteelpower.com |access-date= 13 May 2024 }}</ref>
| operating_income = {{Increase}} {{INRConvert|6241|c}} (2024)
| net_income = {{Increase}} {{INRConvert|5943|c}} (2024)
| assets = {{Increase}} {{INRConvert|78715|c}} (2024)
| equity = {{Increase}} {{INRConvert|44750|c}} (2024)
| num_employees = 11,178 (including 4,807 non permanent)(2024)
| subsid = [[Jindal Petroleum Limited]]<br>Vulcan Green Steel<br>[[Jindal Cement]]<br>Jindal Panther TMT Rebars<br>Jindal Infosolutions Ltd<br>Jindal Synfuels Ltd<br>Jindal Minerals & Metals<br>Jindal Power<br>Raigarh Pathalgaon Expressway Ltd.
| homepage = {{URL|https://www.jindalsteel.com/|jindalsteel.com}}
| footnotes = 
}}

'''Jindal Steel Limited''' is an Indian [[steel]] company based in [[New Delhi]].<ref name="Forbes">{{cite web |url=https://www.forbes.com/companies/jindal-steel-power/ |title=Jindal Steel & Power on the Forbes Global 2000 List |work=Forbes |date=31 May 2013 |access-date=1 December 2013 |archive-date=2 December 2013 |archive-url=https://web.archive.org/web/20131202235620/http://www.forbes.com/companies/jindal-steel-power/ |url-status=live }}</ref> Jindal Steel Limited is a part of [[OP Jindal Group]].<ref>{{cite news |url= https://businessindia.co/magazine/amazing-turnaround-of-jspl |title= Amazing turnaround of JSPL |author= Lancelot Joseph |date= 28 June 2021 |work= businessindia.co |access-date= 29 June 2022 |archive-date= 19 May 2022 |archive-url= https://web.archive.org/web/20220519075546/https://www.businessindia.co/magazine/amazing-turnaround-of-jspl |url-status= live }}</ref>

In terms of tonnage, it is the third-largest private steel producer in India and the 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.<ref>{{Cite news|url = https://www.business-standard.com/company/jindal-steel-20287/information/company-history|title = Jindal Steel & Power Ltd|newspaper = Business Standard India|access-date = 9 February 2022|archive-date = 9 February 2022|archive-url = https://web.archive.org/web/20220209120005/https://www.business-standard.com/company/jindal-steel-20287/information/company-history|url-status = live}}</ref> Jindal Steel set up the world's first [[Direct reduction#Continuous processes|MXCOL]] plant at Angul, Odisha that uses the locally available and cheap high-ash coal and turns it into [[synthesis gas]] for steel making, reducing the dependence on imported [[coking coal]].<ref>{{cite news | url=https://www.business-standard.com/article/pti-stories/jspl-s-coal-gas-based-steel-tech-in-harvard-case-study-115011800659_1.html | title=JSPL's coal gas-based steel tech in Harvard case study | newspaper=Business Standard India | date=18 January 2015 | agency=Press Trust of India | access-date=29 June 2022 | archive-date=8 June 2022 | archive-url=https://web.archive.org/web/20220608040109/https://www.business-standard.com/article/pti-stories/jspl-s-coal-gas-based-steel-tech-in-harvard-case-study-115011800659_1.html | url-status=live }}</ref>

[[File:EXCON 2025, Bangalore International Exhibition Centre (474).jpg|thumb|right|Jindal Steel at [[EXCON]] 2025, [[Bangalore International Exhibition Centre|BIEC]] ]]

==Operations==

=== Angul ===
In 2022, 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. <ref>{{cite news |url= https://www.livemint.com/companies/news/steel-minister-inaugurates-jindal-steel-s-tmt-rebar-mill-in-angul-odisha-11651303479173.html |title= Steel minister inaugurates Jindal Steel's TMT rebar mill in Angul, Odisha |author= Ujjval Jauhari |date= 30 April 2022 |work= livemint.com |access-date= 29 June 2022 |archive-date= 2 July 2022 |archive-url= https://web.archive.org/web/20220702141506/https://www.livemint.com/companies/news/steel-minister-inaugurates-jindal-steel-s-tmt-rebar-mill-in-angul-odisha-11651303479173.html |url-status= live }}</ref> One of the most advanced steel plants in the world and India’s only steel plant using a coal gasification-based route to produce syngas-based DRI, Angul is designed for end-to-end value creation and low-carbon energy integration.{{cn|date=April 2026}}

=== Barbil ===
Jindal Steel's pellet plant at Barbil has a total installed capacity of 9 MTPA<ref>{{cite news|url= https://www.dailypioneer.com/2019/state-editions/jspl---s-barbil-pellet-plant-achieves-rare-production-feat.html|title= JSPL's Barbil Pellet plant achieves rare production feat
|author=<!--Not stated-->|date= 28 April 2019|work= The Pioneer|access-date= 29 June 2022|archive-date= 29 June 2022|archive-url= https://web.archive.org/web/20220629092421/https://www.dailypioneer.com/2019/state-editions/jspl---s-barbil-pellet-plant-achieves-rare-production-feat.html|url-status= live}}</ref> production for different pellet grades. The plant includes a dry grinding facility that harnesses the recuperation type of straight grate technology.{{Citation needed|date=January 2023}}

=== Patratu ===
Jindal Steel's manufacturing facility at Patratu, Jharkhand has a total finished steel capacity of 1.6 MTPA.<ref>{{cite news|url= https://timesofindia.indiatimes.com/city/ranchi/naveen-jindal-visits-steel-plant-at-patratu/articleshow/90600895.cms|title= Naveen Jindal visits steel plant at Patratu
|author=<!--Not stated-->|date= 2 April 2022|work= Times of India|access-date= 29 June 2022|archive-date= 29 June 2022|archive-url= https://web.archive.org/web/20220629092421/https://timesofindia.indiatimes.com/city/ranchi/naveen-jindal-visits-steel-plant-at-patratu/articleshow/90600895.cms|url-status= live}}</ref>

=== Nalwa Steel and Power ===
Nalwa Steel and Power Limited (NSPL) is an integrated steel plant in Raigarh, Chhattisgarh, India with a capacity of 0.36 million tons of finished steel per year.<ref>{{cite web | url=https://newsriveting.com/jindal-arm-to-set-up-square-rectangular-pipes-manufacturing-unit-in-chhattisgarh/#google_vignette | title=Jindal arm to set up square rectangular pipes manufacturing unit in Chhattisgarh | date=3 May 2023 }}</ref>

==Listings and shareholding==
The equity shares of Jindal Steel Limited are listed on the [[Bombay Stock Exchange]]<ref>{{cite web |url=http://www.bseindia.com/stock-share-price/jindal-steel--power-ltd/jindal-steel/532286/ |title=Jindal Steel Limited |publisher=BSEindia.com |access-date=2 December 2013 |archive-date=3 December 2013 |archive-url=https://web.archive.org/web/20131203011713/http://www.bseindia.com/stock-share-price/jindal-steel--power-ltd/jindal-steel/532286/ |url-status=live }}</ref> and the [[National Stock Exchange of India]].<ref>{{cite web |url=http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=JINDALSTEL |title=Jindal Steel Limited |publisher=NSE India |access-date=2 December 2013 |archive-date=3 December 2013 |archive-url=https://web.archive.org/web/20131203003607/http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=JINDALSTEL |url-status=live }}</ref>

'''Shareholding''': On 31 March 2022, the promoter group Jindal Group held 60.5% of its [[Common stock|equity shares]]. 27% of the shares were owned by the Institutional Investors. Public shareholders own approx. 12.5% of its shares.<ref name=AR202021>{{cite web |url=https://d2lptvt2jijg6f.cloudfront.net/jindalsteelpower/post/1631257790_Annual-Report-2020-21%20%281%29.pdf |title=Annual Report 2020-21 |publisher=Jindal Steel |access-date=June 29, 2022 |archive-date=30 October 2022 |archive-url=https://web.archive.org/web/20221030114445/https://d2lptvt2jijg6f.cloudfront.net/jindalsteelpower/post/1631257790_Annual-Report-2020-21%20(1).pdf |url-status=live }}</ref><ref name=Shareholding>{{cite web |url=https://www.bseindia.com/stock-share-price/jindal-steel--power-ltd/jindalstel/532286/qtrid/113.00/shareholding-pattern/Mar-2022 |title=Shareholding pattern |publisher=BSE India |date=29 June 2022 |access-date=29 June 2022 |archive-date=12 March 2023 |archive-url=https://web.archive.org/web/20230312155219/https://www.bseindia.com/stock-share-price/jindal-steel--power-ltd/jindalstel/532286/qtrid/113.00/shareholding-pattern/Mar-2022 |url-status=live }}</ref>

{| class="wikitable"
|-
! Shareholders (as of 31-March-2022)!! Shareholding<ref name=AR202021/><ref name=Shareholding/>
|-
| Promoter Group (Jindal Family)||60.45%
|-
| Foreign [[Institutional investor|Institutional Investors]] (FII)/[[Non-resident Indian and person of Indian origin|NRI]]/OCB/Trusts/[[Foreign national]]||9.7%
|-
| Public||12.5%
|-
| [[Financial institution|Financial Institutions]]/[[Bank]]s/[[Mutual fund|Mutual Funds]]/[[Unit Trust of India|UTI]]/[[Insurance]] companies/Central Government||27%
|-
| Total||100.0%
|-
|}

The company officially changed its name from Jindal Steel and Power to Jindal Steel Ltd. on 23 July, 2025.<ref>{{Cite web |title=Jindal Steel and Power renamed as Jindal Steel |url=https://infra.economictimes.indiatimes.com/news/construction/jindal-steel-and-power-renamed-as-jindal-steel/122855659 |access-date=2025-07-30 |website=ETInfra.com |language=en}}</ref>

==Initiatives==
'''Jindal Panther TMT Rebars'''<br />Jindal Steel has forayed into the 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]].<ref>{{cite news| url= http://www.dailypioneer.com/state-editions/raipur/jspl-launches-jindal-panther-tmt-rebars.html| title= JSPL launches 'Jindal Panther' TMT Rebars| date= 8 August 2013| access-date= 24 February 2014| archive-date= 22 February 2014| archive-url= https://web.archive.org/web/20140222191837/http://www.dailypioneer.com/state-editions/raipur/jspl-launches-jindal-panther-tmt-rebars.html| url-status= live}}</ref>

'''Jindal Institute of Power Technology''' (JIPT)<br />JIPT was established to develop a pool of technically trained power plant professionals for power utilities in India and abroad. The course authorizes the pass-outs to operate or undertake maintenance of any part or whole of generating stations of capacity 100 MW & above together with the associated substations.{{Citation needed|date=January 2023}}

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.{{Citation needed|date=January 2023}}

==Controversies==

=== Involvement in coalgate scam ===
{{See also|Indian coal allocation scam}}
Jindal Steel was one of the two private companies to get a coal field in February 2009. JSL 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 of India|Government]]-run Navratna Coal India Ltd was refused.<ref>{{cite news |url=http://ibnlive.in.com/news/coalgate-norm-violated-by-government-to-favour-naveen-jindal/289062-37-64.html |archive-url=https://web.archive.org/web/20131208232039/http://ibnlive.in.com/news/coalgate-norm-violated-by-government-to-favour-naveen-jindal/289062-37-64.html |url-status=dead |archive-date=8 December 2013 |title=Coalgate: Norm violated by government to favour Naveen Jindal |newspaper=IBN Live |date=6 September 2012 |access-date=1 December 2013}}</ref>

Both the blocks were in [[Odisha, India|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 in granting the coal fields. Naveen Jindal, however, denied any wrongdoing.<ref name="Denial">{{cite news|date=7 September 2012|title=Congress MP Naveen Jindal blames government for coalgate|newspaper=IBN Live|url=http://ibnlive.in.com/news/congress-mp-naveen-jindal-blames-government-for-coalgate/289319-37-64.html|url-status=dead|access-date=1 December 2013|archive-url=https://web.archive.org/web/20131208232116/http://ibnlive.in.com/news/congress-mp-naveen-jindal-blames-government-for-coalgate/289319-37-64.html|archive-date=8 December 2013}}</ref>

=== 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.<ref>{{cite news | url=http://www.theaustralian.com.au/business/mining-energy/indias-bolivian-ore/story-e6frg9df-1111115015459 | work=The Australian | title=India's Bolivian ore | date=3 December 2007 | access-date=11 September 2013 | archive-date=11 August 2011 | archive-url=https://web.archive.org/web/20110811172326/http://www.theaustralian.com.au/business/mining-energy/indias-bolivian-ore/story-e6frg9df-1111115015459 | url-status=live }}</ref>

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 [[Politics of Bolivia|Bolivian Government]].<ref>{{cite news| url=http://www.thehindubusinessline.com/companies/article3508852.ece| title=Jindal Steel to exit from $2-b mining contract with Bolivia| date=9 June 2012| access-date=9 June 2012| archive-date=11 June 2012| archive-url=https://web.archive.org/web/20120611042928/http://www.thehindubusinessline.com/companies/article3508852.ece| url-status=live}}</ref>

In 2024, the [[International Court of Arbitration]]  of the [[International Chamber of Commerce]] ruled in favor of Bolivia against the Indian company Jindal Steel Bolivia S.A. (JSB) that demanded compensation of 100 million dollars from the Bolivian State for the Mutún project, which is about to be completed in Santa Cruz.

The court, in its ruling, dismissed JSB's claims and declared that Empresa Siderúrgica de El Mutún (ESM) complied with all of its contractual obligations in good faith under Bolivian law. In addition, it determined that the Indian transnational must assume the costs of the arbitration, which amount to 740 thousand dollars, and pay the ESM more than 1.9 million dollars in costs and expenses, plus interest based on the yield of the bonds of the United States Treasury.<ref>{{cite news| url=https://www.lostiempos.com/actualidad/economia/20240620/corte-desestima-demanda-jindal-falla-favor-bolivia-caso-mutun| title=Corte desestima demanda de Jindal y falla a favor de Bolivia en caso Mutún| date=20 June 2024| access-date=20 June 2024}}</ref><ref>{{cite news| url=https://www.procuraduria.gob.bo/paginacontenido/538| title=CORTE INTERNACIONAL DE ARBITRAJE DE LA CÁMARA DE COMERCIO INTERNACIONAL (CCI)| date=20 June 2024| access-date=20 June 2024}}</ref>

==References==
{{Reflist}}

{{commons category}}

{{Steel industry of India}}
{{Nifty 200 companies}}

{{DEFAULTSORT:Jindal Steel Limited}}
[[Category:Steel companies of India]]
[[Category:Electric power companies of India]]
[[Category:Hisar (city)]]
[[Category:Economy of West Bengal]]
[[Category:Economy of Haryana]]
[[Category:Companies based in New Delhi]]
[[Category:Energy companies established in 1952]]
[[Category:Manufacturing companies established in 1952]]
[[Category:Manufacturing companies based in Delhi]]
[[Category:Energy in Haryana]]
[[Category:Coal block allocation scam]]
[[Category:Indian companies established in 1952]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Jindal Steel]]