Business Standard

Jindal Stainless Ltd News

Jindal Stainless Q4 results: Net profit declines 30% to Rs 500 crore

Jindal Stainless on Wednesday reported a 30 per cent fall in consolidated net profit to Rs 500.65 crore for the March quarter on account of lower income. It had clocked Rs 716.29 crore net profit during the fourth quarter of FY23, the company said in an exchange filing. The company's total income also decreased to Rs 9,509 crore from Rs 9,803.01 crore in January-March FY23. During the period under review, its expenses stood at Rs 8,805.55 crore against Rs 8,885.45 crore a year ago. The board of the company also recommended a final dividend of Rs 2 per equity share for the financial year ended March 31, 2024. Jindal Stainless is the country's largest stainless steel making company.

Jindal Stainless Q4 results: Net profit declines 30% to Rs 500 crore
Updated On : 15 May 2024 | 6:21 PM IST

Q4 FY24 results: RVNL, MOIL, Biocon among 84 firms to post earnings today

Q4 FY24 company results: Dixon Technologies, Jindal Stainless, Power Finance Corporation, Thomas Cook will also release their financial results

Q4 FY24 results: RVNL, MOIL, Biocon among 84 firms to post earnings today
Updated On : 15 May 2024 | 10:57 AM IST

Jindal Stainless supplies 'high-strength' steel to Vande Metro trains

Leading stainless steel manufacturer Jindal Stainless has supplied high strength stainless steel for the Vande Metro train expected to operate from July, the company said on Tuesday. The Railways had recently rolled out the Vande Metro train from the Integral Coach Factory in Chennai. The "201LN" stainless steel supplied by Jindal Stainless, makes coaches lighter and energy efficient, Jindal Stainless claimed in a statement, here, today. Vande Metro Trains are shorter distance versions of the 'Vande Bharat' express trains. Vande Metro Trains aim to serve passengers traveling distances of up to 250 kms. Vande Metro Trains are expected to connect more than 120 cities and likely to be launched in July. Some of the preliminary routes planned are Bhubaneswar-Balasore, Agra-Mathura, Chennai-Tirupati, Delhi-Rewari, and Lucknow-Kanpur, the company statement said. Jindal Stainless said compared to the conventional 'ferritic stainless steel' grade, the thickness of the external panel on t

Jindal Stainless supplies 'high-strength' steel to Vande Metro trains
Updated On : 14 May 2024 | 9:00 PM IST

Indus Towers, Bosch: Stocks that may enter MSCI Standard index on May 15

As of May 13, 2024, India's weight in the MSCI Emerging Market Index stood at around 18 per cent, a considerable rise from approximately 8 per cent in early 2020

Indus Towers, Bosch: Stocks that may enter MSCI Standard index on May 15
Updated On : 14 May 2024 | 9:39 AM IST

Jindal Stainless to invest Rs 5,400 crore to expand capacity, says MD

Jindal Stainless Ltd (JSL) will invest Rs 5,400 crore to expand capacity to 4.2 million tonne per annum, the company's Managing Director Abhyuday Jindal said on Wednesday. The investments will be made during the next two years, Jindal said, while addressing a press conference. Around 90 per cent of the investments will be made through internal accruals, he said. Sharing the break-up of the investment plan, Jindal said, "This will increase the company's melting capacity by over 40 per cent to 4.2 MTPA at an investment of more than Rs 700 crore." Second, the company has also set aside around Rs 1,900 crore for the expansion of its downstream lines at its plant in Jajpur, Odisha. Besides, the company earmarked nearly Rs 1,450 crore towards the associated upgrade of infrastructural facilities, such as railway siding, sustainability-related projects, and renewable energy generation. Third, the company will acquire a 54 per cent equity stake in Chromeni Steels Pvt Ltd (CSPL), which own

Jindal Stainless to invest Rs 5,400 crore to expand capacity, says MD
Updated On : 01 May 2024 | 5:45 PM IST

Jindal Stainless cuts 2.4 trn tonnes of CO2 emissions in last two fiscals

Jindal Stainless has reduced 2.4 lakh tonnes of carbon emissions between 2022-23 and 2023-24, according to a company statement on Wednesday. Jindal Stainless Ltd (JSL) is taking various measures to reduce the carbon component in its emissions to nil by 2050. The company plans to generate over 1.9 billion units of clean electricity per annum with a target to reduce over 13.52 lakh tonnes of carbon emissions annually by the targeted year. "In the last two fiscals (FY22 and FY23), the company has managed to successfully reduce 2.4 lakh tonnes of Co2 emissions) taking it a step closer towards carbon neutrality and responsible manufacturing," the statement said. The company said it has started using renewable energy sources for its operations. It has also started producing green hydrogen to be used in steel-making processes. Besides, JSL has undertaken digitalisation and technology upgradation for energy efficiency and using EVs at its facilities in Odisha and Haryana. "These initiati

Jindal Stainless cuts 2.4 trn tonnes of CO2 emissions in last two fiscals
Updated On : 17 Apr 2024 | 10:19 PM IST

Jindal Stainless to divest entire 26 pc stake in Jindal Coke by September

Jindal Stainless on Wednesday said it aims to complete divestment of its entire 26 per cent stake in Jindal Coke by September this year. In the first tranche, the company has offloaded 4.87 per cent shares in Jindal Coke for over Rs 36.49 crore. These shares were picked up by JSL Overseas at the same price, according to a regulatory filing. At the same time, Jindal Stainless has acquired a majority stake in Spanish entity lberjindal. In January, the board of the company gave in-principle approval for the acquisition of up to 100 per cent stake in Iberjindal S.L., a subsidiary company based in Spain, and divest 26 per cent equity stake held in its associate company Jindal Coke Ltd (JCL). Jindal Stainless Ltd (JSL) executed a share purchase agreement with JSL Overseas Ltd (JOL) on March 26, 2024, for the sale of a 4.87 per cent equity stake in JCL, the company said in the filing. "The company has transferred 15,80,000...equity shares of the face value of Rs 10 each at a price of Rs

Jindal Stainless to divest entire 26 pc stake in Jindal Coke by September
Updated On : 03 Apr 2024 | 4:08 PM IST

Jindal Stainless collaborates with IIT-Kharagpur for metallurgical projects

Jindal Stainless Ltd and IIT Kharagpur will jointly work on metallurgical projects like primary alloy production and materials characterisation. It is an industry-academia collaboration, under which the premier educational institution will offer technical and operational solutions, Jindal Stainless Ltd (JSL) said in a statement on Saturday. The collaboration will work together on metallurgical projects, such as process optimisation, materials characterisation, and primary alloy production, it said. "The partnership will enable us to harness research in metallurgy and translate it into tangible solutions that benefit the industry. "We are committed to shape the trajectory of stainless steel technology and making substantial strides in the industry, contributing to our collective pursuit of an atmanirbhar India," JSL Managing Director Abhyuday Jindal said. Under the terms of the MoU, IIT Kharagpur will provide technical consultancy and engage in academic and industrial research to .

Jindal Stainless collaborates with IIT-Kharagpur for metallurgical projects
Updated On : 25 Mar 2024 | 6:30 PM IST

Jindal Stainless supplies steel for Kolkata's underwater metro project

Jindal Stainless Ltd on Sunday said it supplied 75 tonnes of high-end steel for Kolkata Metro's Esplanade-Howrah Maidan section which passes below the Hooghly River in West Bengal. The underwater metro project was inaugurated by Prime Minister Narendra Modi earlier this month. Jindal Stainless in a statement said it supplied premium 'SS 301LN' grade of stainless steel for coaches and infrastructure of the project which is a part of the East-West Metro corridor linking Howrah Maidan to Salt Lake Sector V. SS 301 N is corrosion-resistant grade which does not require regular repair and maintenance and is the most cost-effective solution on a life cycle cost basis, JSL said adding it supplied 75 tonnes of steel.

Jindal Stainless supplies steel for Kolkata's underwater metro project
Updated On : 17 Mar 2024 | 8:09 PM IST

Scindia inaugurates Jindal Stainless' first green hydrogen project in India

Union Minister Jyotiraditya M Scindia on Monday inaugurated the country's first green hydrogen project of the stainless steel sector in Hisar, Haryana set up by Jindal Stainless Ltd. The green hydrogen facility, which has been set up by JSL in collaboration with Hygenco, aims to reduce carbon emissions by around 2,700 metric tonnes per annum and 54,000 tonnes of CO2 emission over 20 years. "JSL has been at the forefront of innovation...I commend JSL and Hygenco for the first hydrogen-based steel facility with both rooftop and floating," said Steel and Civil Aviation Minister Scindia while virtually inaugurating the project in presence of Steel Secretary Nagendra Nath Sinha, Jindal Stainless Managing Director Abhyuday Jindal, and other senior officials. The waterbody inside the facility has floating solar panels which will also help in reducing water evaporation, the minister said. In his address, Jindal said green hydrogen is an essential element of stainless steel manufacturing an

Scindia inaugurates Jindal Stainless' first green hydrogen project in India
Updated On : 04 Mar 2024 | 4:11 PM IST

Corrosion leads to losses worth $100 billion annually In India: JSL MD

India faces estimated losses of USD 100 billion every year due to corrosion in projects across sectors, industry player Jindal Stainless Ltd (JSL) said on Friday. The losses can be reduced by up to 25 per cent by implementation of corrosion management practices, JSL Managing Director Abhyuday Jindal said. "India loses approximately USD 100 billion to corrosion annually. By strategically implementing corrosion management practices, we can save up to 25 per cent of the corrosion cost across industries," a company statement quoted Jindal as saying. He said a partnership between industry body CII and JSL to create awareness of corrosion and scale up its management activities to cut down losses that occur due to corrosion. Last year, CII and JSL signed a memorandum of understanding which focuses on inviting suggestions on improvements specific to stainless steel use, scaling up corrosion management activities in India and abroad, promoting technology to manage corrosion, and providing .

Corrosion leads to losses worth $100 billion annually In India: JSL MD
Updated On : 01 Mar 2024 | 10:29 PM IST

Scindia to inaugurate Jindal Stainless' 1st green hydrogen plant on Feb 27

Union Minister Jyotiraditya M Scindia will on Tuesday inaugurate the stainless steel industry's first green hydrogen project set up by Jindal Stainless Ltd (JSL). The Union Steel Minister will virtually inaugurate the company's green hydrogen project, according to officials. With the inauguration, JSL will become India's first stainless steel company to install such kind of plant on a commercial scale, the officials said. "This project is a state-of-the-art green hydrogen facility with a target to reduce carbon emissions considerably by around 2,700 metric tonne per annum and 54,000 tonne Co2 emissions over 20 years," one of the officials said without divulging more information. In August 2022, the country's largest stainless steel player had announced a partnership with Hygenco India Private Limited to set up a green hydrogen plant at Hisar, Haryana. "As a first, the green hydrogen plant will catalyze our transition from thermal to clean energy in the Indian manufacturing space.

Scindia to inaugurate Jindal Stainless' 1st green hydrogen plant on Feb 27
Updated On : 26 Feb 2024 | 1:48 PM IST

Domestic market enough to take in our capacity: Jindal Stainless MD

Jindal says that the strategy is to focus on the domestic market

Domestic market enough to take in our capacity: Jindal Stainless MD
Updated On : 18 Feb 2024 | 5:26 PM IST

Jindal Stainless elevates Whole Time Director Tarun Khulbe as CEO

Jindal Stainless Ltd on Monday said it has elevated Whole Time Director Tarun Khulbe as Chief Executive Officer (CEO). A decision in this regard was taken at the company's board meeting last week, Jindal Stainless Ltd (JSL) said in a regulatory filing. "The board has approved the elevation of Tarun Khulbe as the Chief Executive Officer & Whole Time Director," it said. He has been serving as the Whole Time Director of the company since May 2018. He will continue to hold the post besides that of the CEO, the company said. Khulbe has around 35 years of industry experience in business development, supply chain management, people practices and IT enablement. "His experience in crafting long-term business strategies and strengthening all facets of operations and sales has been commendable. At a time when the company is expanding and maturing its upstream and downstream linkages, having Khulbe at the helm of affairs is critical to our growth plans," JSL Managing Director Abhyuday Jindal

Jindal Stainless elevates Whole Time Director Tarun Khulbe as CEO
Updated On : 22 Jan 2024 | 4:01 PM IST