JSW Steel Ltd
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BSE Code:
500228
NSE Code:
JSWSTEEL
Business Profile
Business Profile
JSW Steel (JSWSL), formerly Jindal Vijayanagar Steel (JVSL) was incorporated as a public limited company on March 15, 1994. It is promoted by Jindal Iron and Steel Company, associate companies, and Karnataka State Investment and Industrial Development Corporation. The company is a fully-integrated steel plant having units across Karnataka and Maharashtra producing materials from pellets to color-coated steel.
It has set up an integrated steel plant to manufacture 1.65 MPTA of hot-rolled coils in Torangallu, Karnataka, which includes a pellet plant at an estimated cost of Rs 3,000 million. It is one of the few steel manufacturers in the world to follow the corex process for production of hot metal. Posco and Saldanha are two other companies using the corex process. JSWSL is the first steel company in India to implement a total integrated resource planning solution for its business process. The modules involved in its ERP project are materials management, steel process tracking system, computer managed maintenance system, Oracle financials and product costing.
JSWSL has stated plans for 7 MTPA by 2008 and is targeting an eventual capacity of 10 MTPA by 2010 at its Vijaynagar facility. This, coupled with the 10 MTPA that JSWSL has proposed in Jharkhand, would take the company`s total capacity to 20 MTPA by 2012.
Financials
The company swung to a loss for the quarter ended in December 2008. Net sales for the quarter rose 8.68% to Rs 27,855.30 million, while total income for the quarter rose 7.24% to Rs 27,863.30 million, when compared with the prior year period. It posted earnings of Rs 7.27 a share during the quarter.
Recent Developments
06-APR-09
The company reported a growth of 11% in production during fourth quarter ended March 2009.
18-FEB-09
The company commissioned India`s largest blast furnace. The furnace was commissioned by PR Jindal in the presence of Sajjan Jindal VC and MD, JSW Steel.
17-NOV-08
JSW Building Systems, company`s wholly owned subsidiary, inked a pact with UK-based Severfiled Reeve Structures, a wholly owned subsidiary of Severfield Rowen to create significant steelwork business based in Bellary district of Karnataka.
03-NOV-08
The company laid the foundation for a Rs 350 billion, 10-million-ton steel project in West Bengal