Jindal Stainless has successfully commissioned its 1.2 MTPA stainless steel melt shop (SMS) in Indonesia, ahead of schedule, boosting its total melting capacity to 4.2 MTPA. Simultaneously, the company committed an additional INR 900 crore investment to enhance cold-rolling capacities in India. These expansions support a target sales volume of approximately ~3.5 MTPA by FY29, aiming for a double-digit CAGR.
Key Milestone Achieved in Indonesia
Jindal Stainless has commissioned its 1.2 million tonnes per annum (MTPA) stainless steel melt shop (SMS) in Indonesia, developed via its joint venture. This achievement comes less than two years after announcing a major 40% expansion in melting capacity. Following this commissioning, the company’s consolidated melting capacity will increase to 4.2 MTPA, of which 3 MTPA is located in India.
Strengthening Indian Downstream Capabilities
To complement the increased melting capacity, Jindal Stainless is significantly investing in its downstream facilities within India. The company plans to commission:
- A new 1.1 MTPA Hot Rolled Annealed Pickled (HRAP) line in Jajpur, Odisha, by Q4FY27.
- An additional 0.17 MTPA Cold Rolling capacity in Jajpur, Odisha, by Q2FY27.
This forms part of the earlier announced outlay of INR 1,900 crore. Furthermore, to boost cold rolling capabilities further, a fresh investment of INR 900 crore has been earmarked for facilities at Hisar and Kharagpur, expected to be operational by Q2FY28.
Capacity Enhancement and Future Targets
These new downstream facilities will enable the production of thinner, high-growth tailored cold-rolled products. The company anticipates increasing its Cold Rolling capacity from 2.05 MTPA in FY26 to 2.67 MTPA by FY28 (an increase of 0.62 MTPA). Once fully operational, total Cold Rolling capacity will constitute 64% of the total melt capacity.
With these concurrent expansions in melting and downstream processing, Jindal Stainless is targeting sales volume of ~3.5 MTPA by FY29, projecting a double-digit CAGR over the next three years.
Management Commentary
Mr. Abhyuday Jindal, Managing Director, stated that the early commissioning of the Indonesia facility and the push in downstream capabilities reflect the commitment to raw material security and enhanced value addition through thinner cold-rolled products, reinforcing the company’s global stainless steel position.
Mr. Tarun Khulbe, CEO, emphasized that capacity expansion supports the Indian growth story and will unlock the next phase of growth for Jindal Stainless, aligning with building world-class capabilities in the sector.
About Jindal Stainless
Jindal Stainless, India’s leading stainless-steel manufacturer, achieved an annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25. The company is scaling up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27, operating 16 manufacturing and processing facilities globally (including in Spain and Indonesia) as of March 2025. The company utilizes electric arc furnace manufacturing for a greener, sustainable process with high scrap recyclability.
Source: BSE
