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
TypePublic
ISININE019A01038
IndustrySteel
Founded1982
FounderSajjan Jindal
(Chairman)
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Sheshagiri Rao MVS, Jayant Acharya
ProductsSteel, flat steel products, long steel products, wire products, plates
RevenueIncrease₹147,902 crore (US$19 billion) (2022)[1]
Increase₹28,828 crore (US$3.6 billion) (2022)[1]
Increase₹20,021 crore (US$2.5 billion) (2022)[1]
Total assetsIncrease₹196,485 crore (US$25 billion) (2022)[1]
Total equityIncrease₹67,297 crore (US$8.4 billion) (2022)[1]
Number of employees
13,128 (2021)[1]
ParentJSW Group
SubsidiariesAmba 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
Websitewww.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]

Merger and acquisitions

In 2007, JSW Steel formed a joint venture for a steel plant in Georgia.[9] Any by 2020, it sold of 39 percent stake which it held in JV to Georgian Steel Group Holdings Limited.[10]

In 2009, Japan's JFE Steel Corp, entered into a strategic partnership with JSW Steel to produce automotive steel products.[11]

In 2010, JSW Steel acquired 3 MTPA Hot Rolling Plant in Dolvi, Maharashtra (formerly Ispat Industries Limited).[12]

in 2012, JSW Ispat Steel was merged with JSW Steel, 20 months after the latter acquired a controlling stake in Ispat Industries.[13]

In 2014, it acquired Welspun Maxsteel Limited in a deal valued at around INR 1,000 Crores.[14][15]

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.[16]

In April 2021, the company acquired Plate and Coil Mill Division (PCMD) of Welspun Corp for a sum of ₹848.5 cr.[17][18]

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).[19]

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.[20][21]

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.[22][23]

Mining acquisitions

In the past, JSW Steel has additionally acquired mining assets in the United States,[24] the Republic of Chile,[25] and Mozambique.[26]

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 2016Mar 2017Mar 2018Mar 2019Mar 2020
32,10138,49642,15345,84840,522

References
  1. "JSW Steel Ltd. Financial Statements". moneycontrol.com.
  2. Weng, Yuqing; Dong, Han; Gan, Yong (14 April 2011). Advanced Steels: The Recent Scenario in Steel Science and Technology. 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". 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. Vol. 2. Red'Shine Publication. p. 321. ISBN 978-93-93239-35-8.
  5. Parikh, Hiral; Desai, Devesh (2022). "A STUDY ON MAJOR STEEL COMPANIES OF INDIA". Towards Excellence. 14 (Special Issue 1). ISSN 0974-035X – via UGC-Human Resource Development Centre, Gujarat University.
  6. "HC nod for Jisco & JVSL merger". 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)". economictimes.com. Archived from the original on 17 January 2015. Retrieved 3 June 2013.
  8. "JSW Steel Ltd". Business Standard India. Retrieved 31 October 2022.
  9. "JSW Steel to set up Rs 165 cr JV in Georgia". The Economic Times. Retrieved 24 September 2022.
  10. "JSW Steel arm completes sale of 39% stake in Georgian JV firm". The Economic Times. Retrieved 24 September 2022.
  11. "JSW Steel, Japan's JFE Steel tie up to make car steel in India". The Economic Times. Retrieved 24 September 2022.
  12. "JSW Steel begins hot-rolled plates production at Dolvi Works plant". Financialexpress. Retrieved 24 September 2022.
  13. "Ispat merges with JSW Steel". The Hindu. 2 September 2012. ISSN 0971-751X. Retrieved 24 September 2022.
  14. "JSW Steel to acquire Welspun Maxsteel Ltd in Rs 1,000-crore deal". The Economic Times. Retrieved 24 September 2022.
  15. "JSW Steel completes acquisition of Welspun's steel business". www.thehindubusinessline.com. Retrieved 24 September 2022.
  16. Dhanjal, Swaraj Singh (26 March 2021). "JSW acquires Bhushan Power & Steel; creditors get Rs19,350 crore". mint. Retrieved 31 October 2022.
  17. "JSW Steel completes acquisition of Welspun's plates and coil mill business". The Economic Times. Retrieved 31 October 2022.
  18. "JSW Steel completes acquisition of Welspun's steel business". www.thehindubusinessline.com. 24 July 2021. Retrieved 31 October 2022.
  19. "JSW Steel acquires Neotrex Steel". www.thehindubusinessline.com. 2 October 2021. Retrieved 31 October 2022.
  20. Reporter, B. S. (7 October 2022). "JSW Steel Coated Products gets LoI for National Steel and Agro Industries". www.business-standard.com. Retrieved 24 February 2023.
  21. Mehta, Sangita (8 October 2022). "JSW Steel entity to buy National Steel & Agro". The Economic Times. ISSN 0013-0389. Retrieved 24 February 2023.
  22. "JSW Steel arm enters into deal to buy 31 pc stake in startup Ayena". The Economic Times. 24 January 2023. ISSN 0013-0389. Retrieved 24 February 2023.
  23. Bureau, BL Mumbai (25 January 2023). "JSW Steel arm buys stake in home furnishing start-up". www.thehindubusinessline.com. Retrieved 24 February 2023.
  24. "JSW Steel completes coal mine buy in US". The Economic Times. Retrieved 24 September 2022.
  25. "JSW gets mining rights in Chile for $52 million". Business Standard India. 17 January 2008. Retrieved 24 September 2022.
  26. Kalesh, Baiju (16 August 2006). "JSW acquires coal mines in Mozambique". The Times of India. Retrieved 24 September 2022.
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