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Informist, Tuesday, Mar. 24, 2026

--Jindal Stainless commissions Indonesia unit, to invest INR 9 bln more 

NEW DELHI – Jindal Stainless Ltd. Tuesday said it has commissioned a 1.2-million-tonne-per-annum stainless steel melt shop in Indonesia, which has been developed through its joint venture. The company already has a 3-million-tonne-per-annum melting capacity in India. With this, the company's total melting capacity has increased to 4.2 million tonnes per annum, Jindal Stainless said in an exchange filing. 

In addition to this, the company will commission a new 170,000 tonne per annum cold rolling capacity by September quarter of 2026-27 (Apr-Mar), and a 1.1-million-tonne-per-annum hot rolled annealed pickled line by the March quarter of FY27 at Jajpur in Odisha, the company said. The new capacities are part of an outlay of INR 19 billion, which the company had announced earlier. 

Notably, the company will also invest INR 9 billion in Hisar district in Haryana and Kharagpur in West Bengal to augment cold rolling capacities. These capacities are expected to be commissioned by the September quarter of FY28, Jindal Stainless said. The company aims to increase its cold rolling capacity to 2.67 million tonnes per annum from 2.05 million tonnes per annum by FY28. 

"Once all downstream expansion projects are commissioned, the total Cold Rolling capacity will account for 64% of the total melt capacity. With this concurrent enhancement in melting and downstream capacities, the company is targeting to achieve a sales volume of ~3.5 MTPA by FY29, delivering double-digit CAGR over the next three years," the company said.  

For the December quarter, the company had reported net profit of INR 6.66 billion and revenues of INR 106.32 billion. Tuesday, shares of Jindal Stainless closed at INR 717.45 on the National Stock Exchange, up over 3%.  End

Reported by Astha Oriel 

Edited by Akul Nishant Akhoury

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