Jindal Stainless - On Strong Footing: ICICI Direct
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ICICI Direct Report
Jindal Stainless Ltd. is planning to double the melting capacity in Jajpur, Odisha through the brownfield expansion route.
Along-with the melting capacity, the company also plans to increase its downstream capacity by increasing the capacity of hot rolled annealed pickled and cold rolled annealed pickled.
Furthermore, Jindal Stainless is also strengthening backward integration through ferro chrome augmentation.
For the company, the estimated total capex for the above-mentioned plans is ~Rs 2150 crore, which is less than one-third of the greenfield capex cost.
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