Jindal Steel and Power
Jindal Steel Limited (JSPL, BSE/NSE) is an Indian integrated steel producer with 15.6 MTPA capacity, generating Rs 53,225 crore FY26 revenue by selling flat and long steel products to infrastructure, construction, and manufacturing customers via direct B2B enterprise sales across domestic and emerging Oman/Australia operations.
- Company typePublic
- Founded1979
- HeadquartersNew Delhi, India
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Jindal Steel and Power does
Jindal Steel Limited (formerly Jindal Steel & Power Limited, ticker JSPL on BSE/NSE) is one of India's largest integrated steel producers, operating a mine-to-metal model with 15.6 MTPA of crude steel capacity across facilities in Angul (Odisha), Raigarh (Chhattisgarh), and Patratu (Jharkhand). Founded in 1979 and rebranded in 2026, the company recorded Rs 53,225 crore in FY26 revenue with a Rs 3,367 crore net profit, producing 9.25 MT and selling 8.68 MT of crude steel in FY26 against an FY27 production target of 11-11.5 MT. Its core technology platform centers on coal gasification-based direct reduced iron (DRI) production — a world-first at this scale — with syngas extended to galvanizing, color coating, and blast furnace operations to substitute imported coking coal, LNG, LPG, and methanol. The company holds captive iron ore blocks (Thakurani A1) and is investing over Rs 75,000 crore industry capex with significant self-contribution to expand capacity and de-risk energy supply.
The company's revenue model is commodity-driven B2B steel sales through direct enterprise relationships with infrastructure, construction, manufacturing, and energy customers, complemented by captive power generation supporting steel operations. Pricing tracks domestic HRC (~Rs 58,700/tonne) and rebar indices, with safeguard duties on imported flat steel providing pricing support and the slurry pipeline expected to add Rs 750-1,000 per tonne cost savings on commissioning in Q1 FY27. Go-to-market is relationship-driven enterprise sales targeting large projects and industrial buyers. Strategic expansion includes a $390 million integrated steel project in Suhar (Oman) with a separate 5 MTPA green steel complex planned in Duqm, an active bid for the Whyalla steelworks in Australia, and acquisitions of Allied Strips Limited (Rs 217.53 crore) and Moon Iron & Steel (MISCO) to broaden product mix and geographic reach. Green steel partnerships with Suzlon and CSIRO position the company for EU CBAM and UK carbon border mechanism compliance from 2027.
Jindal Steel and Power firmographics
Firmographics- Name
- Jindal Steel and Power
- Legal name
- Jindal Steel Limited
- Website
- https://jindalsteelpower.com
- Company type
- Public
- Founded year
- 1979
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Jindal Steel Limited (JSPL, BSE/NSE) is an Indian integrated steel producer with 15.6 MTPA capacity, generating Rs 53,225 crore FY26 revenue by selling flat and long steel products to infrastructure, construction, and manufacturing customers via direct B2B enterprise sales across domestic and emerging Oman/Australia operations.
- Ownership category
- akta.pro rank
Jindal Steel and Power industry classification
Industry- Product category
- Steel Manufacturing
- NAICS
- Iron and Steel Mills and Ferroalloy Manufacturing (33111), Iron and Steel Mills and Ferroalloy Manufacturing (331110)
- SIC
- Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (3312), Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310), Metal Mining (1000)
- akta.pro primary industry
- Integrated Steelmaking (BF-BOF) (IMAKABAA)
- akta.pro secondary industries
- Coated & Plated Steel (Galvanized, Galvalume, Tinplate, Electrogalvanized, Color-Coated) (IMAKABAG), Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Jindal Steel and Power is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices4 records
Markets served
Jindal Steel and Power business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D
Revenue model
- Steel Products Sales: Primary revenue from selling finished steel products including flat steel (HRC, plates) and long steel (TMT bars, rebars) to infrastructure, construction, and manufacturing customers. Revenue is commodity-based with pricing influenced by domestic market conditions, safeguard duties, and raw material costs. Volume-driven growth with new capacity ramp-up at Angul plant driving sales volume growth.
- Power Generation: Power generation operations as part of integrated business model. The company has captive power plants supporting steel operations and may sell surplus power.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Contract-based B2B pricing for industrial customers |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Jindal Steel and Power product offering
Product offeringCore offering
Jindal Steel is an integrated mine-to-metal steel manufacturer producing flat steel (HRC, plates), long steel (TMT bars, rebars, structural steel), and galvanized and color-coated steel using a 15.6 MTPA crude steel capacity across facilities in Angul, Raigarh, and Patratu. It also operates captive power generation and pioneered India's first coal gasification-based Direct Reduced Iron (DRI) plant using syngas from domestic coal to replace imported coking coal.
Product overview
Jindal Steel and Power Limited (JSPL) is an Indian multinational steel and power producer operating as an integrated steel manufacturer. The company operates across the steel production value chain with facilities in Angul (Odisha), Raigarh (Chhattisgarh), and Patratu (Jharkhand). Its core operations include crude steel production (with current capacity of 15.6 MTPA), finished steel products including TMT bars, structural steel, plates, and coils, coal gasification-based Direct Reduced Iron (DRI) manufacturing, and power generation. The company operates a mine-to-metal model with captive iron ore block holdings and produces steel for infrastructure, construction, and industrial applications.
Differentiator
Problem solved
Functional benefit
Products and services
- Flat Steel Products (HRC and Plates) Hot Rolled Coil (HRC) and plate steel products supplied to manufacturing, construction, and infrastructure customers for downstream processing, equipment fabrication, and structural applications.
- Long Steel Products (TMT Bars, Rebars, Structural Steel) TMT bars, rebars, and structural steel sold to infrastructure developers, construction firms, and government infrastructure projects for reinforced concrete and structural frameworks.
- Galvanized and Color Coated Steel Galvanized and color coated steel products with corrosion-resistant finishes, produced using syngas-powered furnaces substituting natural gas, LPG, and propane, supplied to construction, appliance, and roofing applications.
- Coal Gasification-based Direct Reduced Iron (DRI) Direct Reduced Iron produced via India's first coal gasification-based DRI plant using syngas from domestic coal, supplying the integrated steel complex's iron-making feedstock.
- Power Generation Captive power generation supporting Jindal Steel's manufacturing operations, with potential surplus sale, delivered as part of the integrated mine-to-metal model.
Quantifiable outcome
- Coal gasification reduces dependence on imported coking coal, natural gas, LPG, propane, methanol, ammonia, and LNG
- +4 more outcomes
Companies that use Jindal Steel and Power
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Jindal Steel and Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Jindal Steel and Power partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- SPJ VedatamminorSPJ Vedatam partnered with Jindal Steel for structural steel construction of a 4.15-acre next-generation commercial destination in Sector 14, Old Gurugram. Jindal Steel supplies structural steel for the project which has secured anchor tenants PVR and The Barbeque Company.
- DanielicoreDanieli's twin-strand slab casters at Jindal Steel's Angul plant have delivered production results above guaranteed performance levels, with casting speeds and throughput surpassing agreed benchmarks across several steel grades.
- SuzloncoreSuzlon is partnering with major steel producers including Jindal Steel, Tata Steel, Vedanta, and Mittal Steel to help carbon-intensive industries reduce emissions and maintain export competitiveness amid the EU's Carbon Border Adjustment Mechanism (CBAM) and UK's similar mechanism launching in 2027.
- Government of South AustraliaminorJindal Steel is one of two final bidders (along with M Resources) for the Whyalla steelworks in South Australia, competing for $1.9 billion in federal and state government funding to modernize the aging facility.
- Moon Iron & Steel (MISCO)coreJindal Steel acquired Moon Iron & Steel (MISCO) which had suspended production in 2023 due to financial difficulties. This acquisition supports Jindal Steel's expansion in Oman.
- Oman's State Authority for Industrial ZonescoreJindal Steel signed a $390 million investment agreement with Oman's State Authority for Industrial Zones to develop an integrated steel project in Suhar. The group is also developing a 5-million-ton-per-year green steel complex in Duqm.
- CSIRO (Australia)coreAustralia's CSIRO collaborated with Jindal Steel to demonstrate rice husk biomass usage in iron ore processing at the Odisha facility, substituting 5-10% of coal in the gasification process. This addresses India's goethite iron ore challenge unsuitable for hydrogen-based steelmaking.
- Oman Football AssociationminorOman Football Association partnered with Jindal Steel Company for the Junior League, supporting youth football development in Oman.
Scale indicators8 records
Recent moves10 records
Expansion highlights7 records
Jindal Steel and Power competitors and assessment
Company assessmentEmerging players
- SSAB: Swedish specialty steelmaker pioneering HYBRIT fossil-free steel via hydrogen direct reduction. Relevant emerging peer for Jindal Steel's syngas/biomass-based low-carbon pathway and for benchmarking what CBAM-era green steel pricing power could look like.
Others
- thyssenkrupp Steel Europe: European integrated flat-steel producer and recent counterparty in paused M&A discussions with Jindal Steel International. Comparable on integrated BF-BOF operations, EU CBAM exposure, and large-capex transition programs (tkH2Steel) for green steel.
Broad incumbents
- ArcelorMittal: World's largest steelmaker with integrated and EAF operations across multiple continents, including the AMNS India joint venture with Nippon Steel. Broad incumbent peer on global steel pricing dynamics, green-steel roadmap and large-scale M&A activity relevant to Jindal Steel.
- POSCO Holdings: Korean integrated steel major with BF-BOF operations and active investments in India (POSCO-India project). Comparable to Jindal Steel on integrated steelmaking, flat-product focus for automotive/manufacturing customers, and overseas Indian-market entry.
- Nucor Corporation: Largest US steelmaker operating EAF-based steelmaking with strong recycled-content and emissions profile. Comparable to Jindal Steel on large-scale production economics, capital allocation discipline, and downstream flat/long steel product mix serving construction and manufacturing customers.
- Nippon Steel Corporation: Global integrated steelmaker and AMNS India JV partner with advanced high-strength and green-steel technology programs. Comparable to Jindal Steel on integrated operations, blast-furnace DRI mix and the global CBAM-driven transition to lower-carbon steelmaking.
- Vedanta Limited: Indian diversified miner and steel producer with iron ore mining and pig iron operations, also partnering with Suzlon on emissions reduction. Comparable to Jindal Steel on India-domiciled integrated upstream-to-steel footprint and CBAM-driven green-steel transition.
Direct peers
- JSW Steel Limited: India's largest steelmaker by capacity with integrated BOF and DRI operations, supplying infrastructure, construction and manufacturing customers. Closest scale-and-mix comparable to Jindal Steel in the Indian flat/long steel market.
- Tata Steel Limited: India's largest private-sector integrated steelmaker producing flat and long steel for construction, automotive and infrastructure customers. Directly comparable to Jindal Steel on product mix, integrated operations, Indian customer base and growth into green steel.
- Steel Authority of India Limited (SAIL): India's largest public-sector integrated steel producer with blast-furnace, DRI and finishing operations across multiple Indian plants. Directly comparable on integrated value chain, government project supply and Indian geographic concentration.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Jindal Steel and Power social profiles
Digital presenceJindal Steel and Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Jindal Steel and Power leadership team
Management profileNumber of profiles
Profiles7 records
Jindal Steel and Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
Jindal Steel and Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Jindal Steel and Power M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Jindal Steel and Power
What does Jindal Steel and Power do?
Jindal Steel is an integrated mine-to-metal steel manufacturer producing flat steel (HRC, plates), long steel (TMT bars, rebars, structural steel), and galvanized and color-coated steel using a 15.6 MTPA crude steel capacity across facilities in Angul, Raigarh, and Patratu. It also operates captive power generation and pioneered India's first coal gasification-based Direct Reduced Iron (DRI) plant using syngas from domestic coal to replace imported coking coal.
Is Jindal Steel and Power a public or private company?
Jindal Steel and Power is a public company. It is classified as public and is currently operating.
When was Jindal Steel and Power founded?
Jindal Steel and Power was founded in 1979. It employs 5,001 to 10,000 people.
Where is Jindal Steel and Power based?
Jindal Steel and Power is headquartered in New Delhi, India, in the Asia region.
How does Jindal Steel and Power make money?
Two revenue lines are on record. Steel Products Sales are the primary driver. The others are power Generation.
Who are Jindal Steel and Power's main competitors?
SSAB is listed as an emerging player. thyssenkrupp Steel Europe is listed as an others. Broad incumbents are ArcelorMittal, POSCO Holdings, Nucor Corporation, Nippon Steel Corporation and Vedanta Limited. Direct peers are JSW Steel Limited, Tata Steel Limited and Steel Authority of India Limited (SAIL).
Does Jindal Steel and Power have an API?
No public API is recorded for Jindal Steel and Power.
What industry is Jindal Steel and Power in?
Jindal Steel and Power's product category is Steel Manufacturing. Its primary akta.pro industry code is IMAKABAA, Integrated Steelmaking (BF-BOF), with a secondary code of IMAKABAG, Coated & Plated Steel (Galvanized, Galvalume, Tinplate, Electrogalvanized, Color-Coated). Its NAICS code is 33111 and its SIC code is 3312.