JSW Steel

JSW Steel Limited is an Indian

multinational steel producer based in
Mumbai and is a flagship company of the
JSW Group.[2] After the merger of ISPAT
Steel and Jindal Vijayanagar Steel Limited,
JSW Steel became India's second largest
private sector steel company.[3]
JSW Steel Limited

JSW Vijaynagar Works, Toranagallu in the

Bellary-Hospet, Kanataka, India

Type Public

Traded as BSE: 500228 (https://

www.bseindia.com/st
ock-share-price/x/y/5
00228/)
NSE: JSWSTEEL (http
s://www.nseindia.co
m/get-quotes/equity?
symbol=JSWSTEEL)
NSE NIFTY 50
Constituent
ISIN INE019A01038 (http
s://iw.toolforge.org/isi
n/?language=en&isin=
INE019A01038)
Industry Steel

Founded 1982

Founder Sajjan Jindal

(Chairman)
Headquarters Mumbai,
Maharashtra, India
Area served Worldwide

Key people Sheshagiri Rao MVS,

Jayant Acharya
Products Steel, flat steel
products, long steel
products, wire
products, plates
Revenue ₹147,902 crore
(US$19 billion)
(2022)[1]
Operating income ₹28,828 crore
(US$3.6 billion)
(2022)[1]
Net income ₹20,021 crore
(US$2.5 billion)
(2022)[1]
Total assets ₹196,485 crore
(US$25 billion)
(2022)[1]
Total equity ₹67,297 crore
(US$8.4 billion)
(2022)[1]
Number of 13,128 (2021)[1]
employees
Parent JSW Group

Subsidiaries Amba River Coke

Asian Colour Coated
Ispat Limited
Bhushan Power &
Steel
Hasuad Steel
JSW Ispat Steel
JSW Bengal Steel
JSW Energy (Bengal)
JSW Industrial Gases
JSW Jharkhand Steel
JSW Natural
Resources Bengal
JSW Utkal Steel
Welspun Maxsteel Ltd
Website www.jswsteel.in (http
s://www.jswsteel.in/)
History
JSW Steel's history can be traced back to
1982, when the Jindal Group acquired
Piramal Steel Limited, which operated a
mini steel mill at Tarapur in Maharashtra
and renamed it as Jindal Iron and Steel
Company (JISCO).[4] Soon after the
acquisition the group set up its first steel
plant in 1982 at Vasind, near Mumbai.[5]

Later, in 1994, Jindal Vijayanagar Steel

Limited (JVSL) was set up with its plant
located at Toranagallu in the Bellary-
Hospet area in the State of Karnataka, the
heart of the iron ore belt and spread over
10,000 acres (40 km2) of land. It is well
connected to both the Mormugao Port and
Chennai Port and is 340 kilometres from
Bangalore. It is said to be the sixth largest
steel plant in the world.[4]

In the year 2005, JISCO and JVSL merged

to form JSW Steel Limited.[6] It also set up
a plant at Salem with an annual capacity of
1 million tonnes.[2]

As of October 2022, the installed

manufacturing capacity of the company is
28.5 MTPA.[7][8] The company is aiming to
boost the total steel production capacity
to 39 MTPA in the fiscal year ending;
March 2024.[9]

As of April 2023, nearly 98% of JSW Steel's

revenue comes from steel and related
products — long rolled products (18%),
galvanised coils/sheets (15%), CR
coils/sheets (9%), plates/pipes (5%), other
miscellaneous steel products (5%), and
iron ore (2%), in that order. Overall, 70% of
revenue is derived from India, and 30% is
from overseas.[10]

Merger and acquisitions

In 2007, JSW Steel formed a joint venture
for a steel plant in Georgia.[11] Any by
2020, it sold of 39 percent stake which it
held in JV to Georgian Steel Group
Holdings Limited.[12]

In 2009, Japan's JFE Steel Corp, entered

into a strategic partnership with JSW Steel
to produce automotive steel products.[13]

In 2010, JSW Steel acquired 3 MTPA Hot

Rolling Plant in Dolvi, Maharashtra
(formerly Ispat Industries Limited).[14]

in 2012, JSW Ispat Steel was merged with

JSW Steel, 20 months after the latter
acquired a controlling stake in Ispat
Industries.[15]
In 2014, it acquired Welspun Maxsteel
Limited in a deal valued at around INR
1,000 Crores.[16][17]

In 2019, JSW Steel acquired Bhushan

Power & Steel. This resulted in the
absorption of an integrated steel facility in
Jharsuguda, with a capacity of 2.5 million
tonnes annually.[18]

In April 2021, the company acquired Plate

and Coil Mill Division (PCMD) of Welspun
Corp for a sum of ₹848.5 cr.[19][20]

In October 2021, JSW Steel acquired 51%

stake in Neotrex Steel from JSW Group
promoters and entered into an under-
construction project to manufacture Low
Relaxation Prestressed Concrete
(LRPC).[21]

In October 2022, JSW Steel initiated a

process to acquire Central-India based
National Steel & Agro (NSAIL) through
resolution plan submitted under the
corporate insolvency resolution process.
The company makes flat steel products
such as cold-rolled coil, galvanised
corrugated sheets, colour coil and pre-
painted profile sheets and owes lenders
over Rs 1,600 crore.[22][23]
In January 2023, JSW Steel entered into an
agreement via one of its subsidiary to
acquire 31 percent stake in startup Ayena
Innovation which deals in home furnishings
and interior decoration sector.[24][25]

Mining acquisitions

In the past, JSW Steel has additionally

acquired mining assets in the United
States,[26] the Republic of Chile,[27] and
Mozambique.[28]

Carbon footprint
JSW Steel reported Total CO2e emissions
(Direct + Indirect) for the twelve months
ending 31 March 2020 at 40,522 Kt (-5,326
/-11.6% y-o-y). There is no evidence of a
consistent declining trend as yet.
JSW Steel's annual Total CO2e emissions (Direct + Indirect) (in kilotonnes)
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020

32,101 38,496 42,153 45,848 40,522

References
1. "JSW Steel Ltd. Financial Statements" (http
s://www.moneycontrol.com/india/stockpric
equote/steel-large/jswsteel/JSW01) .
moneycontrol.com.
2. Weng, Yuqing; Dong, Han; Gan, Yong (14
April 2011). Advanced Steels: The Recent
Scenario in Steel Science and Technology
(https://books.google.com/books?id=Zf5P
C_efNO8C&dq=JSW+Steel&pg=PA31) .
Springer Science & Business Media. p. 31.
ISBN 978-3-642-17665-4.
3. Divekar, Aditi (5 June 2015). "JSW Steel is
now the largest steel maker in India" (http
s://www.business-standard.com/article/co
mpanies/jsw-steel-is-now-the-largest-steel-
maker-in-india-115060400380_1.html) .
www.business-standard.com. Retrieved
24 September 2022.
4. S, Sruthi. S., Sruthi; Murthy, Y.
Suryanarayana; Santoki, Ashwinkumar;
Shaik, Salauddeen; V., Priyadarshini; G.R.,
Sachindra; Singh, Dhirendra Bahadur;
Gupta, Ravi Kumar; Dimple; Birla, Surbhi
(eds.). Emerging Trends in Commerce &
Management (https://books.google.com/b
ooks?id=1VZhEAAAQBAJ&dq=Piramal+Ste
el+Limited+acquired+by+Jindal+in+1982&
pg=PA321) . Vol. 2. Redshine Publication.
p. 321. ISBN 978-93-93239-35-8.
5. Parikh, Hiral; Desai, Devesh (2022). "A
STUDY ON MAJOR STEEL COMPANIES OF
INDIA" (https://hrdc.gujaratuniversity.ac.in/
Publication/article?id=4845) . Towards
Excellence. 14 (Special Issue 1).
ISSN 0974-035X (https://www.worldcat.or
g/issn/0974-035X) – via UGC-Human
Resource Development Centre, Gujarat
University.
6. "HC nod for Jisco & JVSL merger" (https://e
conomictimes.indiatimes.com/hc-nod-for-ji
sco-jvsl-merger/articleshow/1006947.cm
s?from=mdr) . The Economic Times.
Retrieved 24 September 2022.
7. "JSW Steel has become the second largest
steel producer in the country after state-
owned Steel Authority of India (SAIL)" (http
s://web.archive.org/web/2015011706000
2/http://www.jsw.in/groups/about-group
s) . economictimes.com. Archived from the
original (http://www.jsw.in/groups/about-gr
oups) on 17 January 2015. Retrieved
3 June 2013.
8. "JSW Steel Ltd" (https://www.business-stan
dard.com/company/jsw-steel-4764/inform
ation/company-history) . Business
Standard India. Retrieved 31 October 2022.
9. Cornish, Chloe (16 April 2023). "Steelmaker
JSW 'bullish' on grabbing share of India's
infrastructure boom" (https://www.ft.com/c
ontent/213e6f6a-08e7-447b-b5a9-b5429c6
729f6) . Financial Times. Retrieved 1 May
2023.
10. Ghosh, Asis (14 March 2023). "Equity
Research Report: JSW Steel" (https://www.
stocx.in/) . Stocx. Retrieved 1 May 2023.
11. "JSW Steel to set up Rs 165 cr JV in
Georgia" (https://economictimes.indiatime
s.com/industry/indl-goods/svs/steel/jsw-st
eel-to-set-up-rs-165-cr-jv-in-georgia/articles
how/2659159.cms?from=mdr) . The
Economic Times. Retrieved 24 September
2022.
12. "JSW Steel arm completes sale of 39%
stake in Georgian JV firm" (https://economi
ctimes.indiatimes.com/industry/indl-good
s/svs/steel/jsw-steel-arm-completes-sale-o
f-39-stake-in-georgian-jv-firm/articleshow/
73739454.cms) . The Economic Times.
Retrieved 24 September 2022.
13. "JSW Steel, Japan's JFE Steel tie up to
make car steel in India" (https://economicti
mes.indiatimes.com/industry/indl-goods/s
vs/steel/jsw-steel-japans-jfe-steel-tie-up-to-
make-car-steel-in-india/articleshow/52476
67.cms?from=mdr) . The Economic Times.
Retrieved 24 September 2022.
14. "JSW Steel begins hot-rolled plates
production at Dolvi Works plant" (https://w
ww.financialexpress.com/industry/jsw-stee
l-begins-hot-rolled-plates-production-at-dol
vi-works-plant/2224603/) .
Financialexpress. Retrieved 24 September
2022.
15. "Ispat merges with JSW Steel" (https://ww
w.thehindu.com/business/companies/ispat
-merges-with-jsw-steel/article3848707.ec
e) . The Hindu. 2 September 2012.
ISSN 0971-751X (https://www.worldcat.or
g/issn/0971-751X) . Retrieved
24 September 2022.
16. "JSW Steel to acquire Welspun Maxsteel
Ltd in Rs 1,000-crore deal" (https://economi
ctimes.indiatimes.com/industry/indl-good
s/svs/steel/jsw-steel-to-acquire-welspun-m
axsteel-ltd-in-rs-1000-crore-deal/articlesho
w/40380491.cms?from=mdr) . The
Economic Times. Retrieved 24 September
2022.
17. "JSW Steel completes acquisition of
Welspun's steel business" (https://www.the
hindubusinessline.com/companies/jsw-ste
el-completes-acquisition-of-welspuns-steel-
business/article35509514.ece) .
www.thehindubusinessline.com. Retrieved
24 September 2022.
18. Dhanjal, Swaraj Singh (26 March 2021).
"JSW acquires Bhushan Power & Steel;
creditors get Rs19,350 crore" (https://www.
livemint.com/companies/news/jsw-acquire
s-bhushan-power-steel-creditors-get-rs19-3
50-crore-11616768408973.html) . mint.
Retrieved 31 October 2022.
19. "JSW Steel completes acquisition of
Welspun's plates and coil mill business" (htt
ps://economictimes.indiatimes.com/indust
ry/indl-goods/svs/steel/jsw-steel-complete
s-acquisition-of-welspuns-plates-and-coil-m
ill-business/articleshow/81853539.cms?fr
om=mdr) . The Economic Times. Retrieved
31 October 2022.
20. "JSW Steel completes acquisition of
Welspun's steel business" (https://www.the
hindubusinessline.com/companies/jsw-ste
el-completes-acquisition-of-welspuns-steel-
business/article35509514.ece) .
www.thehindubusinessline.com. 24 July
2021. Retrieved 31 October 2022.
21. "JSW Steel acquires Neotrex Steel" (https://
www.thehindubusinessline.com/companie
s/jsw-steel-acquires-neotrex-steel/article3
6791735.ece) .
www.thehindubusinessline.com. 2 October
2021. Retrieved 31 October 2022.
22. Reporter, B. S. (7 October 2022). "JSW
Steel Coated Products gets LoI for National
Steel and Agro Industries" (https://www.bu
siness-standard.com/article/companies/js
w-steel-coated-products-gets-loi-for-nation
al-steel-and-agro-industries-122100701131
_1.html) . www.business-standard.com.
Retrieved 24 February 2023.
23. Mehta, Sangita (8 October 2022). "JSW
Steel entity to buy National Steel & Agro" (h
ttps://economictimes.indiatimes.com/indu
stry/indl-goods/svs/steel/jsw-steel-entity-t
o-buy-national-steel-agro/articleshow/9471
3997.cms?from=mdr) . The Economic
Times. ISSN 0013-0389 (https://www.worl
dcat.org/issn/0013-0389) . Retrieved
24 February 2023.
24. "JSW Steel arm enters into deal to buy 31
pc stake in startup Ayena" (https://economi
ctimes.indiatimes.com/industry/indl-good
s/svs/steel/jsw-steel-arm-enters-into-deal-t
o-buy-31-pc-stake-in-startup-ayena/articles
how/97275498.cms) . The Economic
Times. 24 January 2023. ISSN 0013-0389
(https://www.worldcat.org/issn/0013-038
9) . Retrieved 24 February 2023.
25. Bureau, BL Mumbai (25 January 2023).
"JSW Steel arm buys stake in home
furnishing start-up" (https://www.thehindub
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buys-stake-in-home-furnishing-start-up/arti
cle66429459.ece) .
www.thehindubusinessline.com. Retrieved
24 February 2023.
26. "JSW Steel completes coal mine buy in US"
(https://economictimes.indiatimes.com/ind
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eel-completes-coal-mine-buy-in-us/articles
how/5932637.cms?from=mdr) . The
Economic Times. Retrieved 24 September
2022.
27. "JSW gets mining rights in Chile for $52
million" (https://www.business-standard.co
m/article/companies/jsw-gets-mining-right
s-in-chile-for-52-million-108011701093_1.h
tml) . Business Standard India. 17 January
2008. Retrieved 24 September 2022.
28. Kalesh, Baiju (16 August 2006). "JSW
acquires coal mines in Mozambique" (http
s://timesofindia.indiatimes.com/business/i
ndia-business/jsw-acquires-coal-mines-in-
mozambique/articleshow/1896290.cms) .
The Times of India. Retrieved
24 September 2022.

External links
Official website (http://www.jsw.in/)
Business data for JSW Steel Ltd:
Reuters (https://web.archive.org/web/20
170921193747/https://in.reuters.com/fi
nance/stocks/overview/JSTL.NS)
Google Finance (https://finance.google.
com/finance?q=NSE:JSWSTEEL)
BloombergQuint (https://www.bloomber
gquint.com/stock/891577/jsw-steel-lt
d)

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