Jindal Stainless

Jindal Stainless Ltd (JSL) on Thursday said Crisil Ratings has revised its outlook on the stainless steelmaker's long-term bank facilities and debt programme to 'AA' with a positive outlook. The rating agency has revised its outlook in view of the company's improved business risk profile, an expected uptick in scale and forward integration with capacity expansion and acquisitions, JSL said in a statement. "JSL has earned an outlook upgrade of Positive from Stable from the CRISIL Ratings on the long-term bank facilities and debt programme, and a reaffirmed rating at CRISIL AA-. Meanwhile, the rating on the short-term bank facilities has been reaffirmed at CRISIL A1+," it said. Some of the parameters that CRISIL Ratings took note of in order to elevate the outlook include the completion of the merger process of Jindal Stainless Hisar Limited (JSHL) with the company, the healthy financial risk profile of the company led by strong liquidity, its strategic acquisitions, an agile business

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Jindal Stainless Ltd (JSL) on Tuesday said it will invest Rs 120 crore to set up rooftop solar capacities at its Jajpur and Hisar facilities. While a project of 21 megawatt peak (MWp) will be set up in Jajpur, another 6 MWp rooftop solar capacity will be installed at company's unit in Hisar, JSL said in a statement. "The two rooftop solar plants will be generating about 795 million units of electricity, with a carbon abatement potential of 5,64,450 tonnes in a span of 25 years," it said. Both the projects are scheduled to be completed by March 2024, the company said, adding that the energy generated will be for captive usage. JSL managing director Abhyuday Jindal said: "This is an important step towards achieving our net zero target. Our commitment is responsible business practices and dedication to reducing carbon footprint. We will continue this practice." The company's Hisar unit has already commissioned rooftop solar projects of 4.1 MWp, which is capable of generating 110.7 ..

JSHL Board approved merger of the company into Jindal Stainless with a swap ratio of 1: 1.95

Jindal Stainless on Monday reported 32.4 per cent drop in consolidated profit at Rs 298.56 crore for the quarter ended December, mainly due to higher expenses. The company had posted a consolidated profit of Rs 441.78 crore in the year-ago period, Jindal Stainless said in a filing to BSE. The consolidated revenue from operations of the company in the October-December increased to Rs 6,349.71 crore over Rs 5,670.02 crore in the year-ago period, the filing said. The consolidated total expenses increased to Rs 5,999.69 crore from Rs 5,059.41 crore. Jindal Stainless Managing Director Abhyuday Jindal said, "Agility and adaptability to changing market conditions lies at the core of sales and operations planning at Jindal Stainless. This strategy continued to serve us well in the last quarter and helped us align our sales mix with the domestic demand." "We also undertook focused measures to fulfil our environmental responsibility, including the commitment to power future growth through .

The country's largest stainless steel maker Jindal Stainless took various initiatives to reduce 1.4 lakh tonnes (LT) of carbon emissions in the last financial year, its Managing Director Abhyuday Jindal said on Monday. The company aims to be carbon neutral by 2050. To achieve the goal, JSL has also created a position of Chief Sustainability Officer (CSO) and appointed Kalyan Kumar Bhattacherjee to the key post, Jindal said in a company statement. "We reduced 1.4 LT CO2 in FY22 through various initiatives. From investing in Renewable Energy, Green Hydrogen production to introducing EVs at our manufacturing plants, we are continuously building an ecosystem that supports our environmental, social, and governance goals (ESGs)," he said. Bhattacherjee will be responsible for leading sustainability initiatives, reducing carbon emissions for the company's current and future capacity expansion plans with the goal to achieve the net-zero target by 2050, JSL said. Bhattacherjee said JSL is

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Leading stainless player Jindal Stainless Limited (JSL) has partnered with ReNew Power to develop its proposed 300 MW hybrid energy project, the company said on Monday. The project will generate 700 million units of green energy annually through a mix of solar and wind technologies, JSL said in a statement. Jindal Stainless has partnered with ReNew Power to setup 300 MW renewable energy project. "JSL has signed a contract with ReNew Power to develop a utility-scale captive renewable energy project for the supply of power to its facility in Jajpur, Odisha," the company said. JSL MD Abhyuday Jindal in an interview with PTI earlier had shared his company's plan of switching from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar and wind power in states like Odisha, Haryana and Rajasthan. The plan will be taken forward accordingly post discussions with the interested parties, Jindal had said in September 2022. On the company's partnership wi

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Jindal Stainless (Hisar) Limited (JSHL) on Friday said its profit after tax fell 49 per cent year-on-year to Rs 253 crore in the second quarter ended September 30. The company had clocked Rs 498.58 crore profit after tax (PAT) during the same period of 2021-22, JSHL said in a statement. Its total income rose to Rs 3,957 crore from Rs 3,772 crore in the year-ago quarter. "During Q2, raw material prices saw a downward trend, with nickel prices falling by 24 per cent quarter-on-quarter (q-o-q) and those of ferrochrome by 18 per cent q-o-q. This impacted the realisation and profitability of domestic manufacturers, including JSHL," the statement said. JSHL Managing Director Abhyuday Jindal said the Indian stainless steel industry has suffered a setback due to the export duty levied by the government in May. This duty comes at a time when the domestic market is being dumped with substandard stainless steel imports from China and Indonesia. The industry has made several presentations to

While input costs fell 3% as raw material prices cooled off from their peak, power and fuel costs surged about 35%

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Essar Constructions India Ltd (ECIL) , the Indian arm of Essar Projects, on Friday said it has added Jindal Stainless as its client, by winning a Rs 97-crore contract. The order is for mechanical works for blast furnace at Jajpur, the firm said in a social media post. Speaking on the occasion, Sejal Jani, Head - Business Development, Tendering & Estimation, ECIL said, "As we take gradual steps towards building a robust order book, widening the portfolio of clients has also been of importance." While the firm reaches out to showcase its capabilities and connect with new clients, it fully acknowledge that efficient execution was crucial to uphold its image in the market. "ECIL has been strengthening its foothold in the minerals and metals domain. Time and cost effective deliveries of orders won during the past one year has not only led to repeat orders, but also enhanced overall market confidence, leading to opening of new doors," he said. Formed in May 2017 to pursue EPC business .

The company had a net profit of Rs 305.84 crore in the same period of 2021-22, JSL said in regulatory filing.

Having a total melting capacity of 0.8 million tonne per annum (MTPA), the Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio

There will be no more investments in thermal energy: Jindal