Jindal Steel and Power Ltd.

Type	Public
Traded as	BSE: 532286 NSE: JINDALSTEL
ISIN	INE749A01030
Industry	Steel, Energy
Founder	O P Jindal
Headquarters	New Delhi, India[1]
Area served	Worldwide
Key people	Naveen Jindal (Chairman)[2] VR Sharma[2] (MD)
Products	Steel, Iron, Electricity generation and distribution
Revenue	₹39,527 crore (US$5.2 billion) (2021)[3]
Operating income	₹8,436 crore (US$1.1 billion) (2021)[3]
Net income	₹4,267 crore (US$570 million) (2021)[3]
Total assets	₹77,840 crore (US$10 billion) (2021)[3]
Total equity	₹31,814 crore (US$4.2 billion) (2021)[3]
Number of employees	6,153 (2020)[3]
Parent	O.P. Jindal Group
Website	jindalsteelpower.com

Jindal Steel and Power Limited (JSPL) is an Indian steel and energy company based in New Delhi, India.^[4] With turnover of approx. ₹40000 crore (US$5.5 billion),^[4] JSPL is a part of about ₹130000 crore (US$18 billion) diversified O.P. Jindal Group conglomerate. JSPL is a leading player in steel, power, mining, oil and gas and infrastructure in India. The company produces steel and power through backward integration from its own captive coal and iron-ore mines.

In terms of tonnage, it is the third largest steel producer in India. The company manufactures and sells sponge iron, mild steel slabs, ferro chrome, iron ore, mild steel, structural, hot rolled plates and coils and coal-based sponge iron plant. Jindal Steel and Power Limited was incorporated in the year 1979. In the year 1995 it forayed into power sector and started a company Jindal Power to engage the power sector.^[5]

Operations[edit]

JSPL has 6 major subsidiaries:

• Jindal Power Limited which operates Jindal Tamnar Thermal Power Plant a 1000 MW (4x250 MW) coal-based thermal power plant in Raigarh district in state of Chhattisgarh. This plant is fully functional.
• Jindal Steel Bolivia
• Jindal Steel and Power Mauritius
• Jindal Africa Investments
• Skyhigh Overseas

Listings and shareholding[edit]

The equity shares of JSPL are listed on the Bombay Stock Exchange^[6] and the National Stock Exchange of India.^[7]

Shareholding: On 31 March 2014, the promoter group Jindal Group held 60% of its equity shares. 23% of the shares were owned by the Foreign Institutional Investors (FII). Around 1,00,000 individual public shareholders own approx. 8% of its shares. The remaining 9% shares are owned by others.^[8][9]

Initiatives[edit]

Jindal Panther TMT Rebars
JSPL has forayed into construction retail industry with the launch of Jindal Panther TMT Rebars for the housing segment. These rebars are manufactured in 1.0 MTPA capacity TMT Rebar mill at Patratu, Jharkhand, supplied by Siemens.^[10]

Jindal Institute of Power Technology (JIPT)
JIPT was established to develop a pool of technically trained power plant professionals for power utilities of India and abroad. The course authorizes the pass outs to operate or undertake maintenance of any part or whole of a generating stations of capacity 100 MW & above together with the associated sub stations. It is recognized by Central Electricity Authority (CEA), Ministry of Power as Category-l Institute.

It is promoted by Jindal Education & Welfare Society, which is supported by Jindal Power Limited. The Institute possesses a simulator of 250 MW/600 MW generating units. JIPT is located in the 4X250, 4X600 MW Jindal Tamnar Thermal Power Plant in Tamnar, Raigarh, Chhattisgarh.

Products[edit]

1. Rails
2. Parallel Flange Beams & Columns
3. Plates & Coils
4. Angles & Channels
5. Wire Rods
6. Round Bars
7. Speedfloors
8. Jindal Panther TMT Rebars
9. Jindal Panther Cement
10. Fabricated Sections
11. Semi-Finished^[11]

Controversies[edit]

Involvement in coalgate scam
Jindal Steel and Power was one of the two private companies to get a coal field in February 2009. JSPL got the Talcher coal field in Angul with reserves of 150 crore (1,500 million) metric tonnes after the cut-off date by the Central Government, while the Government-run Navratna Coal India Ltd was refused.^[12]

Both the blocks were in Odisha, with a combined worth of over ₹2 lakh crore and were meant for liquification of coal. The opposition parties alleged that the Government violated all norms to grant the coal fields. Naveen Jindal, however, denied any wrongdoing.^[13]

Iron ore reserve mining in Bolivia
On 3 June 2006, Bolivia granted development rights for one of the world's largest iron ore reserves in the El Mutún region to Jindal Steel. With an initial investment of US$1.5 billion, the company plans to invest an additional US$2.1 billion over the next eight years in the South American country.^[14]

Jindal Steel is likely to terminate the contract of investing $2.1 billion in setting up a steel plant in Bolivia, due to non-fulfilment of contractual obligations by the Bolivian Government.^[15]

Coal mining in Mozambique
In the coal-rich Tete province of Mozambique, local communities were displaced and resettled due to coal operations of Jindal Steel and Power, Vale, and Rio Tinto, facing significant and sustained disruptions in their ability to access water and to produce or buy food.^[16]

References[edit]

External links[edit]

• Official website