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₹166,990 crore (US$21 billion) (2023)[1]
Decrease₹5,655 crore (US$710 million) (2023)[1]
Decrease₹4,139 crore (US$520 million) (2023)[1]
Total assetsIncrease₹211,078 crore (US$26 billion) (2023)[1]
Total equityDecrease₹67,039 crore (US$8.4 billion) (2023)[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
JSW MI
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] The company is aiming to boost the total steel production capacity to 39 MTPA in the fiscal year ending; March 2024.[9]

As of April 2023, nearly 98% of JSW Steel's revenue comes from steel and related products — long rolled products (18%), galvanised coils/sheets (15%), CR coils/sheets (9%), plates/pipes (5%), other miscellaneous steel products (5%), and iron ore (2%), in that order. Overall, 70% of revenue is derived from India, and 30% is from overseas.[10]

Merger and acquisitions

In 2007, JSW Steel formed a joint venture for a steel plant in Georgia.[11] Any by 2020, it sold of 39 percent stake which it held in JV to Georgian Steel Group Holdings Limited.[12]

In 2009, Japan's JFE Steel Corp, entered into a strategic partnership with JSW Steel to produce automotive steel products.[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 2020, JSW Ispat Steel was acquired by JSW Steel, 20 months after the latter acquired a controlling stake in Monnet Ispat Industries.[17]

In April 2021, the company acquired Plate and Coil Mill Division (PCMD) of Welspun Corp for a sum of ₹848.5 cr.[18][19]

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).[20]

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.[21][22]

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.[23][24]

Mining acquisitions

In the past, JSW Steel has additionally acquired mining assets in the United States,[25] the Republic of Chile,[26] and Mozambique.[27]

Facilities

Integrated Steel Plant, Vijaynagar

In 1994, Jindal Vijayanagar Steel (JVSL) was set up with its plant located at Toranagallu in the Bellary-Hospet area in the State of Karnataka. It is world’s sixth largest steel plant as well as the steel plant that has one of the most efficient conversion costs globally, Located at Toranagallu village in the Ballari-Hospete iron ore belt.It boasts of a capacity of a whopping 12 million tonnes per annum (MTPA)

Integrated Steel Plant, Dolvi

The 10 MTPA integrated steel plant at Dolvi is advantageously located on the West coast of Maharashtra. Located around 80 kms from Mumbai, the unit is well connected via rail, road and sea and has given JSW Steel a strategic presence in Western India. JSW Dolvi Works is India’s first to adopt a combination of Conarc Technology,(a type of electric Arc process) for both steel-making and compact strip production, aiding the production of hot rolled coils.

ESPIC Consulting Pvt. Ltd., an indore based consulting firm helped in designing the both Dolvi and Vijaynagar steel plant. ESPIC provided detail engineering and consultancy services for the entire plant including material conveying system for incoming raw materials and outgoing finished products, detail engineering for civil, structure, material handling, utilities and electricals. [28][29]

Timeline of JSW Steel
  • 1982: Jindal Group sets up steel plant at Vasind near Mumbai.
  • 1982: Acquires Piramal Steel Limited (later renamed JISCO).
  • 1994: Sets up Jindal Vijayanagar Steel Ltd (JVSL).
  • 2004: JSW acquires Salem Steel Works.
  • 2005: JISCO and JVSL merge to form JSW Steel Ltd.
  • 2008: JSW Steel enters rebar JV in Georgia.
  • 2010: Acquires integrated steel plant at Dolvi, Maharashtra.
  • 2013: Ties up with Japan's JFE in electrical steel JV.
  • 2014: Acquires Welspun Maxsteel in deal valued at ~1,000 Crores.
  • 2018: Buys 100% stake in Italy's Aferpi for Euro 55 million.
  • 2018: Signs JV agreement with JFE for Indian auto steel production.
  • 2018: Invests $150m in first tranche for greenfield Texas plant.
  • 2019: NCLT approves JSW's takeover of bankrupt Bhushan Power.
  • 2019: Announces sale of significant stake in Geo Steel.
  • 2020: Emerges as preferred bidder for three iron ore mines in Odisha.
  • 2020: NCLAT grants JSW immunity in acquisition of Bhushan Power.
  • 2020: JSW purchase of Bhushan Power challenged in India's top court.
  • 2020: Agrees to buy remaining 26.45% stake of JSW Vallabh Tinplate.
  • 2020: Purchases remaining 31% stake in Italy's GSI Lucchini.
  • 2021: Completes purchase of Bhushan Power & Steel Ltd.
  • 2021: JSW Steel Italy acquires 31% stake in GSI Lucchini.
  • 2021: Sets CO2 target of 1.95 tons per ton by Fiscal 2030.
  • 2022: Puts Piombino long product business in Italy up for sale.
  • 2022: Announces plan to merge JISPL and CSSL subsidiaries.
  • 2022: Gets approval to construct greenfield steel plant in Andhra Pradesh.
  • 2023: Ponders new investment in an electric vehicle production plant in India.
  • 2023: Becomes a member of ResponsibleSteel.
  • 2023: JSW is approved as the preferred buyer of three coal mines in India.
  • 2023: JSW wins auction for iron ore block in Goa.

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" (PDF). nseindia.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. Redshine 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. Cornish, Chloe (16 April 2023). "Steelmaker JSW 'bullish' on grabbing share of India's infrastructure boom". Financial Times. Retrieved 1 May 2023.
  10. Ghosh, Asis (14 March 2023). "Equity Research Report: JSW Steel". Stocx. Retrieved 1 May 2023.
  11. "JSW Steel to set up Rs 165 cr JV in Georgia". The Economic Times. Retrieved 24 September 2022.
  12. "JSW Steel arm completes sale of 39% stake in Georgian JV firm". The Economic Times. Retrieved 24 September 2022.
  13. "JSW Steel, Japan's JFE Steel tie up to make car steel in India". The Economic Times. 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. "Ispat merges with JSW Steel". The Business Standard. 2 September 2012. Retrieved 24 September 2022.
  18. "JSW Steel completes acquisition of Welspun's plates and coil mill business". The Economic Times. Retrieved 31 October 2022.
  19. "JSW Steel completes acquisition of Welspun's steel business". www.thehindubusinessline.com. 24 July 2021. Retrieved 31 October 2022.
  20. "JSW Steel acquires Neotrex Steel". www.thehindubusinessline.com. 2 October 2021. Retrieved 31 October 2022.
  21. 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.
  22. Mehta, Sangita (8 October 2022). "JSW Steel entity to buy National Steel & Agro". The Economic Times. ISSN 0013-0389. Retrieved 24 February 2023.
  23. "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.
  24. Bureau, BL Mumbai (25 January 2023). "JSW Steel arm buys stake in home furnishing start-up". www.thehindubusinessline.com. Retrieved 24 February 2023.
  25. "JSW Steel completes coal mine buy in US". The Economic Times. Retrieved 24 September 2022.
  26. "JSW gets mining rights in Chile for $52 million". Business Standard India. 17 January 2008. Retrieved 24 September 2022.
  27. Kalesh, Baiju (16 August 2006). "JSW acquires coal mines in Mozambique". The Times of India. Retrieved 24 September 2022.
  28. https://www.espic.in/132/
  29. https://www.steeltimesint.com/content-images/subscriberpdfs/30092-Steel-Directory-2018.pdf
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.