The company is one of India’s leading makers of stainless steel flat products in Austenitic, Ferritic, Martensitic, and Duplex grades, which are used in industries such as automobiles, railways, construction, and consumer goods.
Jindal Stainless Ltd’s product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, blade steel, and coin blanks.
The company belongs to the Mid-cap category with a market capitalization of Rs 39,080 crores. On November 10, the company shares closed at Rs 474.60 apiece.
Jindal Stainless is India’s largest fully integrated stainless steel company, having a stainless steel capacity of around 3 million tonnes per annum.
Jindal Stainless enjoys an impressive domestic market share of 60% in the stainless steel industry and is a major player in the Southeast Asian market. It caters to various industries such as Automobiles, Utensil Pipes and Tubes, Palm Oil, etc.
The company has built the Largest Integrated stainless steel plant in India with a melting capacity of 1.8 million tons per year. Jindal Stainless produces more than 50 grades of stainless steel including special products like Razor Blade Steel, Coin Blanks, and Precision strips with a global presence in 65 countries.
Jindal Stainless had an annual turnover of around Rs 360 bn (US $4.30 billion) in FY23 and is ramping up its facilities to reach 2.9 million tonnes of annual melt capacity in FY24. The company has two stainless steel manufacturing facilities in India, in the states of Odisha and Haryana, as well as an overseas unit in Indonesia.
The company shares have gained a return of 59 percent in the last six months and 193 percent in a year. The revenue of Jindal Stainless Ltd has increased by 75 percent year on year, from Rs 5,604 crore in Q1FY23 to Rs 9,797 crore in Q1FY24. During the same period, net profit increased by 400 percent, from Rs 151 crore to Rs 756 crore.
Written by Omkar Chitnis
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