Jindal Stainless Limited is one of the largest manufacturers of stainless steel flat products in India, operating across Austenitic, Ferritic, Martensitic and Duplex grades used in various industries including automobile, railways, construction, and consumer goods. Established in 1970, the company has built a strong market presence in the steel industry over more than five decades.
The company's operations are truly integrated, spanning from raw material processing to finished products. Jindal Stainless operates a stainless steel plant at Jajpur, Odisha with a capacity of 1.1 million tons per annum spread across approximately 800 acres, and maintains a diverse product portfolio comprising approximately 120 grades with a distribution network covering domestic and international markets. The company has expanded its integrated stainless steel mill in Jajpur, Odisha, increasing capacity from 1.9 MTPA to 2.9 MTPA, along with a 0.8 MTPA steel melting capability in Hisar, Haryana.
Jindal Stainless is the largest manufacturer of stainless steel in 200, 300, 400 and duplex stainless steel series, with a product range that includes Ferro Alloys, Steel Slabs, Hot Rolled Coils, Cold Rolled Coils, and Steel Plates. The company's applications span across Architecture, Building & Construction (roofing, cladding, paneling), Automobile and Transport (exhaust, brakes, fuel tanks), Railway (coaches, wagons, metro), Consumer Durables (kitchen applications, bathroom accessories), and Process industry (boilers, water tanks, pumps for food and chemical industry).
As of March 2024, Jindal Stainless has 16 stainless steel manufacturing and processing facilities in India and abroad, including facilities in Spain and Indonesia, with a worldwide network spanning 12 countries. In India, the company operates ten sales offices and six service centres as of March 2024.
As of the latest available data, Jindal Stainless has a market capitalization of ₹56,008 crore. The company has demonstrated consistent growth in its financial performance over recent years.
For the financial year ended March 31, 2025, Jindal Stainless recorded sales volume of 23,73,070 tonnes, representing a 9% jump over FY24, with standalone net revenue rising by 5% year-on-year to ₹40,182 crore.
Key FY25 financial metrics include:
- EBITDA: ₹3,905 crore (down 3% over last year)
- PAT: ₹2,711 crore (7% growth year-on-year)
- Q4FY25 sales volume: 6,42,641 tonnes (highest-ever, up 13% year-on-year)
- Q4FY25 net standalone revenue: ₹10,786 crore (up 13%)
Jindal Stainless reported an 18% increase in Q4 net profit to ₹590 crore, aided by higher sales volume and one-time gains. The company reported an 18.02% year-on-year increase in consolidated net profit in Q4FY25 to ₹590.99 crore, with revenue from operations up 7.87% year-on-year at ₹10,198 crore.
Jindal Stainless is pursuing a ₹40,000 crore investment in Maharashtra for a stainless steel manufacturing facility, which has received state cabinet approval and aims to create over 15,000 jobs, with production capacity ramping up to 4.2 million tonnes by FY27. The company recently signed a non-binding memorandum of understanding with the Maharashtra government for this investment, with the facility proposed to be developed over the next 10 years.
In August 2024, Jindal Stainless commissioned its Nickel Pig Iron smelter facility in Indonesia, located in an industrial park in Halmahera Islands, eight months ahead of the scheduled timeline. This strategic move enhances the company's raw material security and cost competitiveness.
The company has commissioned Odisha's largest captive solar plant, including a 7.324 MWp floating solar plant and a 23.02 MWp rooftop solar system, expected to generate approximately 44.3 million units of green electricity annually and reduce CO₂ emissions by 32,208 metric tons each year.
Corporate Carbon Footprints were reduced by approximately 15% in FY25 through ongoing decarbonisation initiatives. Jindal Stainless published its first Taskforce on Nature-related Financial Disclosure (TNFD) Report in FY25, becoming the first company in the Indian iron and steel sector to do so.
Jindal Defence and Aerospace (JDA), the company's strategic arm, has successfully supplied low-alloy steel sheets to Brahmos Aerospace for missile carrier applications, achieving a significant milestone by meeting Brahmos' stringent quality requirements. The company supplied high-strength tempered 301L grade austenitic stainless steel for the Vande Bharat sleeper coaches.
Chinese and Vietnamese imports continue to challenge India's stainless steel industry, accounting for over 70% of total imports in FY25, with imports from China rising 7% year-on-year and imports from Vietnam surging by 176% in FY25. The company is in dialogue with the government for anti-dumping duty on stainless steel imports to address these challenges.
Jindal Stainless is part of multiple key indices including BSE 500, BSE 200, Nifty 500, BSE Metal, BSE MidCap, Nifty Metal, and several other benchmark indices. The stock has a 52-week high of ₹848.00 and a 52-week low of ₹497.00.
The Board of Directors recommended a final dividend payment of ₹2 for FY25, taking the total dividend payment to ₹3 per equity share (150% per equity share with a face value of ₹2 each). Promoter holding in the company stood at 60.88% as of March 2025.
Jindal Stainless continues to strengthen its position as India's leading stainless steel manufacturer through strategic investments, operational excellence, and sustainable practices, while navigating the challenges of global trade dynamics and positioning itself for long-term growth in the expanding Indian stainless steel market.
