Jindal Stainless Invests INR 900 Crore in Capacity Expansion
Filing Summary
Jindal Stainless Ltd has commissioned a 1.2 million tonnes per annum (MTPA) stainless steel melt shop in Indonesia, increasing its total melting capacity to 4.2 MTPA. The company plans an additional INR 900 crore investment to enhance cold rolling capacities in India, targeting a 3.5 MTPA sales volume by FY29. The expansion includes new facilities in Jajpur, Odisha, and further investments in Hisar and Kharagpur. These developments align with Jindal Stainless’s strategy to strengthen its production capabilities and market presence globally.
Jindal Stainless Ltd has announced the commissioning of a 1.2 million tonnes per annum (MTPA) stainless steel melt shop in Indonesia. This facility, developed through a joint venture, increases the company’s total melting capacity to 4.2 MTPA, with 3 MTPA located in India. The company has also committed an additional investment of INR 900 crore to augment its cold rolling capacities in India.
The financial commitment includes the development of new facilities in Hisar and Kharagpur, expected to be operational by Q2FY28. This investment is part of a broader strategy to enhance the company’s production capabilities. The company aims to increase its cold rolling capacity from 2.05 MTPA in FY26 to 2.67 MTPA by FY28, marking an increase of 0.62 MTPA. The total cold rolling capacity will constitute 64% of the company’s total melt capacity once all projects are completed.
The operational scope includes the commissioning of a 1.1 MTPA Hot Rolled Annealed Pickled (HRAP) line and a 0.17 MTPA Cold Rolling capacity in Jajpur, Odisha. These facilities are scheduled to be operational by Q4FY27 and Q2FY27, respectively. These expansions are part of an earlier announced outlay of INR 1,900 crore. The new and expanded downstream facilities will enable the production of thinner cold rolled products, catering to high-growth industries.
The company is targeting a sales volume of approximately 3.5 MTPA by FY29, aiming for a double-digit compound annual growth rate (CAGR) over the next three years. This expansion aligns with Jindal Stainless’s strategy to enhance its market presence and meet evolving market needs. The company is focused on building a future-ready, value-driven stainless steel portfolio, supporting India’s growth and self-reliance.
The timeline for these developments includes the commissioning of the Indonesian facility ahead of schedule. The new facilities in Jajpur are expected to be operational by the end of FY27, while the additional investments in Hisar and Kharagpur are slated for completion by Q2FY28. These projects are integral to the company’s strategy to expand its production footprint and enhance value addition.
Jindal Stainless is India’s leading stainless steel manufacturer, with an annual turnover of INR 40,182 crore in FY25. The company operates 16 manufacturing and processing facilities in India and abroad, including locations in Spain and Indonesia. Jindal Stainless is committed to innovation and sustainability, utilizing electric arc furnace technology to reduce greenhouse gas emissions and enhance recyclability. The company continues to focus on expanding its global presence and strengthening its capabilities in the stainless steel sector.