JSW Steel

What JSW Steel does

JSW Steel Limited is India's leading integrated steel manufacturer and the flagship listed entity of the US$12 billion JSW Group. Incorporated in 1994, the company operates a 37.9 MTPA consolidated crude steel capacity across integrated plants at Vijayanagar (Karnataka, 12 MTPA — India's largest single-location steel plant), Dolvi (Maharashtra, 10 MTPA), and Salem (Tamil Nadu, 1 MTPA — special alloy steel, Deming Prize winner), supplemented by downstream coating facilities at Vasind, Tarapur, and Kalmeshwar, plus international operations in Ohio and Baytown (USA) and Piombino (Italy). The product portfolio spans hot rolled, cold rolled, galvanized, galvalume, colour-coated steel, tinplate, TMT bars (JSW Neosteel), wire rods, electrical steel, and plates/coils, produced using Blast Furnace, Corex, Direct Reduced Iron (DRI), and Electric Arc Furnace technologies. Vertical integration extends to 13 captive iron ore mines (~1.35 BT reserves), coal assets in Mozambique (Minas de Revuboè), the Dugdha Coal Washery (BCCL partnership), and recycling through NSL Green Steel Recycling.

The company sells finished steel primarily through direct enterprise sales teams serving automotive OEMs (Tata Motors, Honda, Timken), infrastructure projects (Delhi Metro, IGI Airport, SoftBank Solar), consumer durables manufacturers (Samsung, Haier, BHEL), and a tier-2/3 retail network of 11,000+ exclusive and non-exclusive outlets covering 575 districts. Exports reach 100+ countries via international trading houses. Revenue from operations stood at ₹1,85,470 crore in FY26 with net profit of ₹22,316 crore, supported by a 60% Value-Added and Special Products mix and conversion costs of $136 per tonne that rank among the lowest in the industry.

JSW Steel pursues an aggressive growth strategy, targeting 54.8 MTPA capacity by 2030, anchored by a ₹65,000 crore 13.2 MTPA greenfield plant at Paradeep (Odisha), a 50:50 JV with POSCO for a 6 MTPA Odisha plant, and the JSW JFE Steel Ltd joint venture housing BPSL's 2.5 MTPA. The GreenEdge sub-brand offers certificate-based low-carbon steel under the worldsteel Chain of Custody framework, while pilot projects target hydrogen-DRI steelmaking under India's National Green Hydrogen Mission. The company is expanding into adjacent green-fuel verticals via a 300,000 TPA green methanol MoU with Bharatia and Carbon Iceland International, and is mobilising capital through a ₹7,000 crore board-approved QIP alongside block-deal placements to GQG Partners and SBI Mutual Fund.

Name

JSW Steel

Legal name

JSW Steel Limited

Website

https://jswsteel.in

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

JSW Steel is India's leading integrated steel manufacturer with 37.9 MTPA capacity, producing flat and long steel products for automotive, construction, infrastructure, consumer durables, and energy customers across India, the USA, and Italy.

Ownership category

akta.pro rank

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (3311), Steel Product Manufacturing from Purchased Steel (3312), Metal Service Centers and Other Metal Merchant Wholesalers (423510)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310)

akta.pro primary industry

Integrated Steelmaking (BF-BOF) (IMAKABAA)

akta.pro secondary industries

Coated & Plated Steel (Galvanized, Galvalume, Tinplate, Electrogalvanized, Color-Coated) (IMAKABAG), Specialty & Alloy Steel (Stainless, Tool Steel, Electrical Steel, High-Strength/HSLA) (IMAKABAJ), Steel Plate, Sections & Welded Assemblies (IMADACAD), Steel Products Trading & Service Centers (Flat, Long, Pipe & Tube, Rebar) (IMAKAJAB)

Keywords

• Integrated steel manufacturing
• Flat steel products
• Long steel products
• Low-carbon steel
• Steel product distribution

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Finished Steel Products Sales: JSW Steel manufactures and sells finished steel products including hot rolled coils, cold rolled coils, galvanized steel, galvalume, color coated products, tinplate, TMT bars, wire rods, and special alloy steel. Revenue is generated through domestic sales (majority), exports, and retail channels.
2. GreenEdge Low-Carbon Steel: Premium green steel product with verified CO2 reduction certificates sold to customers seeking to reduce Scope 3 emissions. Follows insetting model with Book and Claim methodology.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

JSW Steel manufactures and distributes a diversified portfolio of finished steel products, including hot rolled, cold rolled, galvanized, galvalume, colour coated, TMT bars, wire rods, tinplate, electrical steel, and special alloy steel. The company operates integrated steel plants at Vijayanagar (12 MTPA), Dolvi (10 MTPA), and Salem (1 MTPA), supplemented by downstream coating facilities and international operations in the USA and Italy. Products are sold to automotive OEMs, infrastructure companies, construction firms, energy projects, consumer durables manufacturers, and through an extensive retail and dealer network of 11,000+ outlets across India.

Product overview

JSW Steel offers a diversified portfolio of steel products across flat and long categories, manufactured at integrated steel plants in Vijayanagar (Karnataka), Dolvi (Maharashtra), and Salem (Tamil Nadu), with downstream coating facilities. The product portfolio includes Hot Rolled Steel, Cold Rolled Steel, TMT Bars (JSW Neosteel), Galvanized Steel, Galvalume, Colour Coated Steel, Tinplate, Wire Rods, Electrical Steel, and Steel Plates/Coils. The company also offers GreenEdge, a certificate-based low-carbon emission steel solution for sustainability-focused customers. Products serve infrastructure, construction, automotive, consumer durables, energy, and packaging sectors through various branded offerings including JSW Neosteel, JSW Colouron+, JSW Pragati, and JSW Vishwas.

Differentiator

Problem solved

Functional benefit

Brands

• JSW Neosteel: TMT bars brand for construction and infrastructure
• JSW Colouron+
• JSW Pragati
• JSW Vishwas
• JSW Galveco
• JSW Everglow
• JSW GreenEdge

Quantifiable outcome

• EBITDA per tonne of ₹21,454 (FY2021-22)
• +4 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Bharat Coking Coal Limited (BCCL)coreStrategic or Co-development Partner · 25 June 2026BCCL transferred 2 MTPA Dugdha Coal Washery to JSW Steel under 25-year agreement, marking India's first coal washery asset monetization. BCCL will supply 2 million tonnes of coking coal annually at 26% premium. Expected to save Rs 875 crore in forex by substituting imports.
• Larsen & Toubro (L&T)coreImplementation/ SI/ Consulting Partner · 8 June 2026L&T GeoStructure secured piling contracts for JSW Utkal Steel's 10 MTPA integrated steel plant at Paradeep, Odisha. Contract worth ₹1,000-2,500 crore with approximately 30 lakh running metres of piling work across nine packages - L&T's largest-ever piling order.
• POSCO HoldingscoreStrategic or Co-development Partner · 27 May 202650:50 joint venture for a 6-million-ton greenfield steel plant in Odisha's Dhenkanal district. Part of JSW's ₹35,000 crore Odisha expansion. POSCO re-entered India through this JV after its previous mothballed project. Project targets 6 MTPA capacity with completion expected by 2031.
• BharatiaminorStrategic or Co-development Partner · 26 May 2026MoU with JSW Steel and Carbon Iceland International for low-carbon industrial solutions focusing on carbon capture, utilization, and sustainable industrial technologies to support cleaner steel manufacturing.
• Bharatia and Carbon Iceland InternationalminorStrategic or Co-development Partner · 25 May 2026Strategic MoU signed during India-Nordic Summit in Oslo for green methanol production project. Targets 300,000 tonnes per annum of green methanol using CO2 captured from JSW Steel's Raigad facility and green hydrogen. JSW provides industrial infrastructure, Bharatia handles execution and financing, Carbon Iceland leads carbon capture integration.
• JFE Steel CorporationcoreStrategic or Co-development Partner · 1 May 202650% stake sale in Bhushan Power and Steel Ltd (BPSL) to JFE Steel, forming JSW JFE Steel Ltd joint venture. The slump-sale transfer completed March 2026. BPSL adds 2.5 MTPA capacity to JSW's portfolio. Total benefit approximately ₹37,250 crore for JSW Steel.
• Minas de Revuboè Limitada (MdR)coreStrategic or Co-development Partner · 17 May 2024JSW Steel acquired 92.2% stake in Mozambique-based coal mining company for $73.8-74 million. MdR is a coal mining company providing JSW access to premium hard coking coal reserves (800+ metric tonnes) for steel production, reducing volatility in coal costs.
• National Steel Holding LimitedminorStrategic or Co-development Partner · 27 September 2023JSW Steel completed acquisition of remaining 50% stake in NSL Green Steel Recycling, making NSL a wholly-owned subsidiary. Transaction finalized September 27, 2023. Acquisition emphasizes JSW's commitment to sustainable and eco-friendly steel production.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Nucor Corporation: Largest steel producer in the United States and a global benchmark for low-cost, EAF-based steelmaking. Comparable to JSW in scale, downstream value-added mix, and capital-efficient expansion model.
• United States Steel Corporation: Integrated US steelmaker with operations spanning flat-rolled, tubular, and mining. Similar integrated blast furnace / EAF / mining footprint and comparable end-market exposure in automotive, construction, and energy.
• Cleveland-Cliffs Inc. North America's largest flat-rolled steel producer and a vertically integrated iron ore miner. Comparable to JSW in combining downstream flat-rolled steelmaking with upstream raw material control.
• ArcelorMittal Nippon Steel India (AMNS India): Joint venture between ArcelorMittal and Nippon Steel operating India's largest single-location steel plant at Hazira. Competes head-to-head with JSW in flat steel and value-added products for automotive and infrastructure customers.
• Tata Steel Limited: Largest Indian private-sector integrated steel producer, with comparable flat and long product portfolios serving automotive, construction, and infrastructure customers across India and the UK. Closest direct competitor to JSW in domestic Indian steel.
• Steel Authority of India Limited (SAIL): India's largest state-owned integrated steel producer with similar BF-BOF integrated operations and a comparable product mix spanning long, flat, and specialty steel. The principal domestic public-sector peer for JSW.

Broad incumbents

• Voestalpine AG: European specialty steel and processing group focused on high-grade flat, long, and tool steel. Comparable to JSW in the Salem Works special alloy steel business and in moving up the value chain into automotive and engineering steel.
• JFE Steel Corporation: Japanese integrated steelmaker that formed the JSW JFE Steel joint venture absorbing Bhushan Power and Steel. Comparable in flat and electrical steel grades and in high-grade automotive and infrastructure applications.
• HBIS Group (Hesteel): China's largest steelmaker and one of the largest globally. Sets global steel pricing and capacity benchmarks that influence JSW's domestic and export pricing environment, particularly for commodity flat and long products.
• POSCO Holdings: Korean steel and battery materials conglomerate. Already a JV partner with JSW in the 6 MTPA Dhenkanal plant; competes broadly in flat steel, automotive steel, and increasingly in low-carbon steel technologies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/thejswgroup
• YouTubeyoutube.com/channel/UCpNfOrnDaoW6O8ldzISYkFA
• Facebookfacebook.com/jswsteelofficial
• LinkedInlinkedin.com/company/jsw
• Instagraminstagram.com/jsw.steel/?hl=en

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries13 records

Funding overview

Funding rounds3 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about JSW Steel