### **Overview** Jindal Steel & Power Limited (JSPL), part of the OP Jindal Group, is one of India’s leading **integrated steel producers**, operating on a **mine-to-metal model** with captive resources, advanced manufacturing, and deep vertical integration. Established in 1979, the company has evolved into a global player with an enterprise value backed by strategic investments exceeding **USD 12 billion** across India, Africa, Australia, and Southeast Asia. JSPL is uniquely positioned as **India’s only private manufacturer of rails** and a pioneer in **coal gasification-based DRI and carbon capture technologies**. With over **20,000 employees** and manufacturing hubs in **Angul (Odisha), Raigarh (Chhattisgarh), and Patratu (Jharkhand)**, JSPL focuses on **high-margin, value-added steel products** for critical sectors including infrastructure, defense, railways, energy, and automotive. --- ### **Strategic Highlights (2025)** #### **Record Value-Added Product Sales** - As of **October 2025**, value-added (VA) products accounted for **73% of total sales**, up from 64% in FY24 and surpassing earlier targets. This reflects a successful shift toward premium flat steel and specialty long products. - In **August 2025**, value-added sales reached **72%**, driven by strong demand in pressure vessels, offshore wind, automotive, and defense sectors. #### **Core Philosophy: Mine-to-Metal Integration & Self-Reliance** JSPL owns **captive iron ore, coal, coking coal, and power assets** globally, ensuring **resilient supply chains** and **cost control**: - **Iron Ore:** 10.6 MTPA domestic mining (Kasia & Tensa mines), covering ~60% of needs. - **Coking & Thermal Coal:** - **Domestic:** 15.37 MTPA from Utkal C, Utkal B1/B2, and Gare Palma IV/6 blocks. - **International:** 7.4 MTPA from mines in **Australia, Mozambique, South Africa, and Botswana**. - Energy Security: **1,860 MW** captive power at Angul; total CPP capacity of **~2,500 MW** across facilities. --- ### **Growth Strategy: Transformation of Angul into the World’s Largest Single-Location Plant** The **Angul complex in Odisha** is the **centerpiece of JSPL’s growth**, targeted to become the **largest single-location steel plant globally** by 2030. - **Current Crude Steel Capacity:** **9.6 MTPA** (as of FY25). - **Target Capacity:** **15.6–15.9 MTPA** by FY26–FY28. - **Investment:** **₹47,043 crore** earmarked by FY28, focused on downstream expansion in high-margin flat products. #### **Key Ongoing Projects at Angul:** - **Second 6 MTPA Blast Furnace (5,499 m³, among the world’s largest)** – production imminent. - **1.2 MTPA Cold Rolling Mill (CRM) Complex** – enabling automotive-grade, galvanized, and color-coated steel. - **3 MTPA BOF, 2 MTPA DRI Plant, 1.8 GW Slurry Pipeline**. - **5.5 MTPA Hot Strip Mill (HSM)** – **India’s largest**, already commissioned (now producing 6 MTPA, scalable). - **Dedicated Port at Paradeep & Slurry Pipeline** – to reduce logistics costs and improve evacuation efficiency. - **Shreebhoomi Power Plant and Coke Oven Facilities**. --- ### **Innovation & Sustainability Leadership** #### **Carbon Capture, Utilisation & Storage (CCUS) – A National Benchmark** The **Angul plant is a global leader in CCUS**, capturing **3,600 tonnes per day (TPD)** of CO₂: - **1,800 TPD** via **MDEA chemical absorption (99.5% purity)**. - **1,800 TPD** via **chilled methanol (Rectisol, upgradable to 99%+)**. **Initiatives:** - **Centre of Excellence for CCUS** being established with Government of India and India-Sweden partnership. - **Microalgae-driven biomanufacturing** to convert CO₂ into biochemicals, biofuels, and bio-carbon. - Partnerships with **IIT Bombay, IIT Kharagpur, Curtin University, and DST** for CO₂ conversion tech. - Inviting industrial partners to **offload 3,600 TPD of CO₂** for urea, methanol, or ethanol production. **Sustainability Goals:** - **Carbon emissions <2.0 t/tonne crude steel by 2030**. - **Net carbon zero by 2035**. - Environmental Product Declaration (EPD) certified for **ultra-low carbon steel**. --- ### **Product Portfolio & Technological Edge** #### **Flat Steel – HSM & CRM Revolution** - **HSM**: Produces **hot-rolled coils (HR, HRSPO, HRPO, HRSP)** for automotive, pipes, and infrastructure. - World-first **1.0 mm thin HRC** rolled via conventional HSM (eliminates need for cold rolling). - Over **43 steel grades** developed, including high-strength automotive (28MnB5) and API grades. - **CRM & Galvanizing Lines**: - **CRM** for cold-rolled, galvanized, and coated steel (automotive, appliances). - **CGL-1**: 200,000 TPA of Digidrive®-enabled galvanized steel. #### **Specialty Long Products** - **Rails & Forgings:** - World’s largest **HR Slitter (Raigarh)** for precise rail coil processing. - **Rail Forging Plant (Raigarh)** – producing rail wheel sets for Indian Railways and export. - Certified producer of **end-forged TWA rails (ZU-1-60/60E1A1)**. - **Jindal Panther TMT Rebars:** - High ductility, seismic resistance, available in **Fe500D, Fe550D, Fe600, and 50 mm diameter variants**. - **Cut & Bend service** reduces construction waste and time. - **Wire Rods & Round Bars:** - Grades include **SAE9254, SA213 T12, HC82BX, SAE1010** for fasteners, springs, and mining. #### **Plates & Pressure Vessels** - Produces **5-meter-wide plates** – **widest in India**, unmatched in shipbuilding and wind towers. - Key grades: - **SA 516 Gr.70, SA 516 Gr.60, SA 537 Cl.1, SA 302 Gr. B, SA 533 Gr. B Class 3**. - **API X65 Sour Grade** (19–40 mm) for offshore H2S environments, developed with **Jindal SAW**. - Impact-tested to **-60°C**, suitable for Arctic and LNG applications. #### **Advanced Applications** - **Offshore & Oil & Gas:** DNV E36, AH36, ASTM A690, ABS Grade B steels. - **Nuclear Projects:** Steel for **NTPC’s 160MWh CO₂ battery project at Kudgi**. - **Automotive & Yellow Goods:** SAE10B21, RockHard 400/500 (430–500 BHN), S355J2+N. - **Construction Innovation:** - **SIN Beam (Corrugated Web)** – developed with Zeman, Austria – reduces steel usage and enables faster construction. - **Speedfloor** – lightweight, galvanized steel joist system with 40% cost and time savings. --- ### **Market Reach & Revenue Drivers** #### **Diversified Market Strategy** - **Domestic Sales (Over 90%)**: Serves over **450 districts**, with **50+ distributors, 5,000+ dealers, 6 yards, 15 experience centers**. - **Exports (85+ countries)**: To Europe, Middle East, Africa, Southeast Asia, North & South America. - Specialty blooms, plates, rails, and long products. - Premium of **$100–150/tonne** on value-added exports. #### **B2B & B2C Dual Model** - **B2B**: Infrastructure, defense, OEMs (Caterpillar, Tata Hitachi, METSO), railways (RDSO-approved). - **B2C**: Branded **Jindal Panther TMT rebars** for retail builders and independent home construction. #### **Revenue Segments (FY25 Estimate)** - **Infrastructure**: 40% – bridges, metros, highways. - **Distribution/Dealers**: 32% – reach and retail. - **Building & Construction**: 14% – homes, commercial. - **Automotive**: 33% of revenue in FY23–24. - Supplied track shoes to Caterpillar and Tata Hitachi. --- ### **Financial & Operational Strategy** #### **Capital Discipline & Growth Funding** - Target **Net Debt/EBITDA < 1.5x** even during expansion. - Expansion primarily funded through **internal accruals and asset divestitures** (e.g., Jindal Power Limited). - Focused deleveraging under **"JSPL 2.0"** strategy to become **net debt-free**. #### **Operational Excellence** - **BOF records:** 3.05 MTPA output at Raigarh. - **SMS output:** 4.8 MTPA in Angul. - **HYQST TMT technology** with sulfur/phosphorus < 0.035% for superior quality. - **Digital transformation (Project Pragati):** - AI for predictive maintenance, drone inspections, real-time analytics dashboards. - Automated TDC system: Certificate turnaround from 15 days to 7 days. --- ### **Strategic Collaborations** - **Interarch Building Products:** Co-developing steel for industrial structures, multi-storey buildings. - **Government of India:** Developing **CO₂ feedstock platforms, bio-foundries, biomanufacturing hubs**. - **IITs, Indo-German Centre, Curtin University:** R&D in CCUS, microalgae, cold briquettes, and electrocatalysis. ---