Jindal Stainless Limited has informed the Exchange regarding a press release dated March 24, 2026
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Jindal Stainless has commissioned a 1.2 MTPA stainless steel melt shop in Indonesia ahead of schedule, raising its total melting capacity to 4.2 MTPA (including 3 MTPA in India). The Indonesian facility was developed through a joint venture. The company is also commissioning a 1.1 MTPA Hot Rolled Annealed Pickled (HRAP) line and 0.17 MTPA Cold Rolling capacity in Jajpur, Odisha, by Q4FY27 and Q2FY27 respectively, as part of an earlier announced INR 1,900 crore outlay. Additionally, the company has earmarked a fresh INR 900 crore investment at Hisar and Kharagpur for cold rolling expansion, expected by Q2FY28. These projects will lift Cold Rolling capacity from 2.05 MTPA in FY26 to 2.67 MTPA by FY28, with cold rolling accounting for 64% of total melt capacity. The company targets sales volume of ~3.5 MTPA by FY29, aiming for double-digit CAGR over the next three years. FY25 turnover stood at INR 40,182 crore.
This is a significant positive development signaling strong growth runway, ahead-of-schedule execution, and a clear push toward higher value-added cold-rolled products. Investors may view this as a long-term capacity-led growth story, though the multi-year capex of INR 2,800+ crore (combined) could pressure near-term returns and debt levels.