Jindal Steel and Power

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.

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

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

• Steel manufacturing
• Direct reduced iron
• Structural steel products
• Coal gasification technology
• Integrated steel production

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. 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.
2. 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

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core 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

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• SPJ VedatamminorStrategic or Co-development Partner · 26 June 2026SPJ 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.
• DanielicoreTechnology or Integration · 18 June 2026Danieli'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.
• SuzloncoreStrategic or Co-development Partner · 15 June 2026Suzlon 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 AustraliaminorStrategic or Co-development Partner · 29 May 2026Jindal 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)coreStrategic or Co-development Partner · 22 May 2026Jindal 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 ZonescoreStrategic or Co-development Partner · 22 May 2026Jindal 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)coreTechnology or Integration · 17 April 2026Australia'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 AssociationminorGTM or Marketing Partner · 3 April 2026Oman 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

Emerging 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

• Xx.com/jsplcorporate
• YouTubeyoutube.com/@JindalSteel_In
• Facebookfacebook.com/JSPLCorporate
• LinkedInlinkedin.com/company/1138540
• Instagraminstagram.com/jindalsteel_in

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&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