### **Overview** JSW Steel Limited is India’s largest integrated steel producer and the flagship company of the $23 billion JSW Group. With a domestic crude steel capacity of **34.2 million tonnes per annum (MTPA)** and a consolidated capacity of **35.7 MTPA** (including 1.5 MTPA in the USA), the company is on a strategic growth trajectory. It aims to achieve **50 MTPA of steelmaking capacity in India by FY 2030–31**, driven by brownfield expansions, greenfield projects, and value-accretive acquisitions. JSW Steel operates across a diversified portfolio of flat and long steel products, including hot-rolled and cold-rolled coils, galvanized and pre-painted steel, tinplate, TMT bars, wire rods, rails, and specialty steels. It serves key domestic and global sectors such as automotive, infrastructure, renewable energy, construction, packaging, defence, and oil & gas, with exports reaching over **100 countries**. The company combines **vertical integration, technological innovation, and digital transformation** to maintain one of the lowest conversion costs globally, ensuring margin resilience and sustainable competitiveness. --- ### **Growth Strategy & Capacity Expansion** #### **Domestic Expansion Plans** - **Capacity Target**: 50 MTPA in India by FY 2030–31, supported by a **₹62,000 crore+ capex plan** over three years. - Major Projects: - **Brownfield Expansions**: - **Vijayanagar (Karnataka)**: 7.5 MTPA expansion underway, including a 0.6 MTPA cold rolling mill and new galvanizing lines. - **BPSL (Odisha)**: Capacity increased from 2.75 to 5 MTPA. - **Dolvi (Maharashtra)**: 5 MTPA Phase III expansion to bring total capacity to 15 MTPA by September 2027. - **Greenfield Project**: - **13 MTPA plant in Jagatsinghpur, Odisha**, part of a world-class integrated steel complex with captive power, port, and township. - **Green Steel Initiatives**: - **4 MTPA green steel plant at Salav, Maharashtra**, expected to reduce carbon emissions by 20%. - Pilot **green hydrogen project** commissioned at Vijayanagar. #### **Strategic Acquisitions & Partnerships** - Acquired **Bhushan Power & Steel (BPSL)** in 2021, adding 2.75 MTPA capacity. - **Joint Venture with POSCO** (MoU, Oct 2024): Proposed 5 MTPA integrated steel plant in India with collaboration on EV battery materials and renewable energy. - **Strategic Collaboration with JFE Steel (Japan)** since 2010: Enables access to best-in-class technologies for electrical and automotive steels. --- ### **Value-Added & Specialty Products (VASP) Leadership** - **VASP Share**: Reached **62% of total sales (excluding JVML)** in FY 2024–25, up from 61% in FY 2023–24. - Product Innovation: - **100 new steel grades launched in FY 2024–25**, including advanced high-strength steel (AHSS) for automotive lightweighting and safety. - **Magsure**: Indigenous magnesium-coated steel for solar applications, offering superior corrosion resistance. - **JSW Platina**: Premium tinplate brand targeting sustainable packaging; holds **55% domestic market share**. - Electrical Steel: - Acquired **Thyssenkrupp’s CRGO facility in Nashik** via **50:50 JV with JFE Steel (JESPL)**. - Setting up **India’s first end-to-end Cold Rolled Grain Oriented (CRGO) facility at Vijayanagar**, targeted for commercial scale by 2027. - CRGO will replace imported electrical steel used in transformers and EVs, supporting India’s import substitution goals. --- ### **Digital Transformation & JSW One Platforms** #### **JSW One (JOPL) – B2B Digital Ecosystem** - **Ownership**: JSW Steel holds a **69.01% stake**; Mitsui holds ~8%. - **Platform Overview**: - PAN-India digital marketplace serving **~700,000 MSMEs** and individual home builders. - Offers **steel, cement, paints, and other construction materials**, along with logistics and **embedded credit solutions**. - Operates 13 service centers and 8 private-label facilities across 6 states. #### **Key Subsidiaries** - **JSW One Distribution (JODL)**: Enables small-ticket, JIT delivery to MSMEs. - **JSW One Finance (JOFL)**: - Launched August 2024 as an NBFC. - Offers purchase finance, vendor finance, working capital, and co-lending with **12+ banks and NBFCs**. - Raised **₹575 crore** external funding in Oct 2025 to scale operations. #### **Performance (FY 2024–25)** - **GMV**: ₹12,567 crore (**2.4x YoY growth**). - **Repeat Customers**: 80% of GMV. - **Transactions**: 1.8 million tonnes of steel and 207,000 tonnes of cement. - **Users**: Over **617,000 customers**. #### **Recent Milestones** - Achieved **unicorn status** (valuation >$1 billion) in FY 2025. - Raised ₹575 crore in external funding (Oct 2025). - **Q2 FY26 GMV**: ₹3,952 crore (**43% YoY growth**), with ₹1,100 crore transacted on credit. #### **Future Plans** - Expand private brand distribution to **20 states** and 5,000+ dealers by 2026. - Strengthen digital project management, especially for **JSW One Homes**, which has delivered **170 homes** since inception. - Target **break-even in FY 2026–27** for JSW Homes. --- ### **Raw Material Security & Decarbonization** #### **Iron Ore & Coal Security** - **Iron Ore**: - Access to **23 mines** with **1.6 billion tonnes** of reserves; **12 operational**. - 33% self-sufficiency in iron ore via captive mines. - 30 MTPA **iron ore slurry pipeline** (Odisha to Jatadhar Port) under development, to be commissioned by FY 2026–27. - **Coking Coal**: - **Three domestic mines** (Parbatpur, Sitanala, and a coal washery). - **Global Portfolio**: - 20% stake in **Illawarra Coal Mines (Australia)** (1.2 MTPA offtake). - Acquisition of **Minas de Revuboe (Mozambique)**, holding **800 million tonnes** of premium hard coking coal (pending approvals). - Domestic linkages with Coal India under development. #### **Energy & Sustainability** - **Renewable Energy**: - **996 MW** of renewable capacity (600 MW under development). - Operational: 225 MW solar (Vijayanagar), 38 MW wind. - Under construction: 75% complete at Vijayanagar (600 MW wind). - Goal: **10 GW renewable power** to support 50 MTPA green production. - **Green Hydrogen**: Pilot project at Vijayanagar to fuel DRI for low-carbon steel. - **Emission Reduction**: - Dual-fired boilers using biomass save **856,800 Gcal/year** and reduce CO₂ by **887,000 tonnes/year**. --- ### **Global Operations** - **USA**: - **JSW Steel USA Ohio**: 1.5 MTPA EAF, 2.8 MTPA continuous caster, 3.0 MTPA HSM. - **Baytown Plate & Pipe Mill (Texas)**: 1.2 MTPA plate mill, 0.55 MTPA pipe mill. - **$145 million expansion** in Ohio (VTD & DSR upgrade) to produce high-value API-grade coils for domestic and export markets. - **Italy (JSW Piombino)**: - 0.32 MTPA rail mill and grinding media facility. - **Captured €100 million order backlog** with RFI and other railways. - Port capable of handling 60,000-tonne vessels. --- ### **Downstream & Value Chain Enhancements** - **JSW Coated Products Ltd.**: - India’s largest coated steel manufacturer. - **5.26 MTPA galvanized capacity** and **2.37 MTPA colour coating**. - **49% market share** in colour-coated steel; full spectrum brand portfolio from **Everglow (super-premium)** to **Indradhanush (mass market)**. - Launched **Cool Roof, Anti-Dust, Hi-Gloss** coatings in collaboration with JSW Paints. - **JSW MI Steel Service Centre (JV with Marubeni-Itochu)**: - 1.15 MTPA processing capacity in Pune, Palwal, Chennai, Ahmedabad. - Provides slitting, cut-to-length, blanking for automotive and white goods sectors. - **Neotrex Steel Pvt Ltd (80% owned)**: - 144,000 TPA **Low Relaxation Prestressed Concrete (LRPC) Strands**. - Supplies wire rods from Vijayanagar and sells LRPC to infrastructure projects like MAHSR and NHAI. --- ### **Leadership & Corporate Governance** - **Mr. Jayant Acharya**, Joint Managing Director & CEO: - Over **37 years of industry experience**. - Instrumental in capacity expansion, raw material security, and transformation into India’s largest steel and coated steel producer. - Holds degrees from **BITS Pilani** and an MBA. --- ### **Market Position & Performance** - **Market Share**: - **15.5%** of domestic steel sales (FY 2024–25), with **15% YoY growth**. - **48–49%** in colour-coated steel. - Dominant supplier to **Mumbai-Ahmedabad Bullet Train**, **Atal Setu**, and national infrastructure projects. - **Exports**: 28% of turnover, rebounded post-export duty removal. - **Customer-Centric Innovation**: - 48 new product approvals in FY 2024–25. - 51 new steel grades developed, including 21 for import substitution. --- ### **Technology & Industry 4.0** - Full deployment of **AI, IoT, and cloud computing** across value chain: - **Predictive Maintenance Platform**: Deployed across 10 plants and 2,900+ assets; reduced unplanned downtime by **25,000+ hours**. - **Digital Pricing Platform**: AI-driven, dynamic decision-making. - **Supply Chain Control Tower**: Real-time visibility and responsiveness. - **AIKYAM One View App**: Unified customer interface for construction and infrastructure clients. - Partnerships with **IIT Bombay, BITS Pilani** for digital talent development. - Over **200 digital initiatives** implemented.