Jindal Stainless commissions Indonesia SMS facility, commits INR 900 Cr for downstream expansion
Jindal Stainless commissioned its Indonesia SMS facility, adding 1.2 MTPA capacity, and committed an additional INR 900 crore for downstream cold rolling capacities at Hisar and Kharagpur. The company targets 3.5 MTPA sales volume by FY29, aiming for a double-digit CAGR. New HRAP and cold rolling capacities in Odisha are slated for Q4FY27 and Q2FY27.
The commissioning of a new melt shop and significant investment in downstream capacities, coupled with an ambitious sales target, are material developments that will likely have a substantial impact on the company's future performance and market position.
The announcement details significant capacity expansions and investments, including commissioning a facility ahead of schedule and committing substantial additional capital, indicating positive growth and strategic progress.
Jindal Stainless Limited (JSL) has commissioned its 1.2 million tonnes per annum (MTPA) stainless steel melt shop (SMS) in Indonesia, developed through a joint venture, ahead of schedule. This facility increases the company's total melting capacity to 4.2 MTPA, with 3 MTPA located in India.
Complementing the melt shop expansion, JSL is preparing to commission a new 1.1 MTPA Hot Rolled Annealed Pickled (HRAP) line and a 0.17 MTPA Cold Rolling capacity in Jajpur, Odisha, by Q4FY27 and Q2FY27, respectively. These are part of a previously announced outlay of INR 1,900 crore.
Furthermore, JSL has committed an additional investment of INR 900 crore for its cold rolling capacities at Hisar and Kharagpur, with commissioning expected by Q2FY28. These expansions aim to enhance the production of thinner cold-rolled products tailored for high-growth industries. Following these projects, the company's Cold Rolling capacity is projected to increase from 2.05 MTPA in FY26 to 2.67 MTPA by FY28, a rise of 0.62 MTPA. Once all downstream expansions are complete, total Cold Rolling capacity will represent 64% of the total melt capacity.
With these concurrent enhancements, JSL targets a sales volume of approximately 3.5 MTPA by FY29, aiming for a double-digit CAGR over the next three years. Managing Director, Mr. Abhyuday Jindal, stated that the Indonesia facility's early commissioning and the push in downstream capabilities reflect the company's commitment to raw material security and an integrated growth approach. CEO, Mr. Tarun Khulbe, highlighted that these capacity and production enhancements align with India's robust domestic potential and will unlock the next phase of growth.
Jindal Stainless reported an annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25 and is scaling up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27. The company has 16 manufacturing and processing facilities in India and abroad, with a global network in 12 countries as of March 2025.
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