Jindal Stainless - Gearing Up For The Next Phase Of Expansion: Systematix
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Systematix Research Report
We recently visited Jindal Stainless Ltd.’s Jajpur, Odisha stainless steel plant and returned convinced about its growth prospects.
The company is India’s largest flat stainless steel producer and amongst the top-10 globally.
It has a combined capacity of 1.9 million tonnes per annum, which includes 1.1mtpa at the Jajpur, Odisha plant and 0.8mtpa at the Hisar, Haryana unit.
The Hisar unit is currently housed under its sister concern Jindal Stainless Hisar Ltd. and would shortly get merged with Jinda Stainless in the ratio of 1:1.95.
The company recently initiated the expansion of its Jajpur, Odisha plant to increase its capacity to 2.1mtpa by FY23 with a capex of Rs 26 billion, which includes Rs 5.3 billion towards steel melt shop and Rs 12.5 billion for downstream capacity expansion and the expansion of value-added products capacities at the Hisar unit.
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