JINDAL STEEL & POWER
Jindal Steel and Power Limited (JSPL) is an Indian steel and energy company, with headquarters in New Delhi. It is a part of conglomerate Jindal Group. JSPL is a leading player in steel, power, mining, oil and gas and infrastructure in India. The company produces steel and power through backward integration from its own captive coal and iron-ore mines. In terms of tonnage, it is the third largest steel producer in India with the 10MTPA iron making capacity. The company manufactures and sells sponge iron, mild steel slabs, ferro chrome, iron ore, mild steel, structural, hot rolled plates and coils and coal-based sponge iron plant.
JSPL has 6 major subsidiaries:
- Jindal Power Limited which operates a fully functional Jindal Tamnar Thermal Power Plant, coal-based thermal power plant in Raigarh district in state of Chhattisgarh.
- Jindal Shadeed Iron and Steel, Oman
- Jindal Steel, Bolivia
- Jindal Steel and Power, Mauritius
- Jindal Africa Investments
- Skyhigh Overseas
Jindal Steel is focusing to become net debt free; grow capacity to 27 MT. Recently the company also paid debt of Rs. 2462 Cr. JSPL is looking to divest its coal powered business, which is planning to reduce the CO2 emission of the company by almost 50%.
Recently, Worlddone Pvt. Ltd. One of the promoters of the company reduced its stake by 96.42% worth Rs. 3015 Cr.
Being a leader company of India JSPL focuses on challenging sustainability challenges. In long run company focuses to reduce upstream and downstream business and energy cost, improve cost efficiencies, mitigate financial risks to business. Simultaneously setting up environment benchmark for the Steel and Power Industry. Not only this, JSPL took its social responsibility with utmost priority by providing Liquid Medical Oxygen to various states during this ongoing pandemic.
Jindal Steel and Power total income grew 9.22% and stood at Rs 11903.59 crores forQ4FY21 as compared to Rs 10898.7 crores in Q3FY21. The total net profit for the FY21 stood at Rs 4267.05 crores, though there is a drop of 16.65% to Rs. 2139.3 crores compared to Rs. 2566.7 crores in the last quarter. In FY21 company showed a huge growth in net profit which stood at Rs 4267.04 crores, grew 1167.56% when compared to loss of Rs 399.7 crores in FY20.
The results of Jindal Steel & Power were up to snuff.
