Top 10 Steel Companies in India (Updated List)

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• June 7, 2019
• 1858
• Corporates

Steel Companies in India: India boasts a robust steel industry, ranking among the world’s largest in terms of production and exports. The recent surge in steel demand has fueled global expansion for Indian steel companies, paving the way for a promising future. The electronics, construction, and logistics sectors are driving the demand for high-quality steel, propelling India’s steel industry to new heights.

The construction industry accounts for over 50% of global steel consumption. Steel is an integral component of various structures, from homes and parking garages to schools and skyscrapers. It also plays a crucial role in exterior wall cladding and roofing.

The India Brand Equity Foundation (IBEF) projects India’s steel production capacity to reach 300 million tonnes per annum (MTPA) by 2030-31, a significant increase from the current 140 million tonnes in 2020-22.

Top Steel Producers: Driving India’s Steel Industry

India’s top steel producers primarily rely on iron ore to manufacture iron and steel, catering to various essential sectors like construction, machinery, and transportation.

Top 10 Steel Companies in India

1. JSW Steel

JSW Steel, with a steel production capacity of 24 MTPA, ranks as India’s second-largest steel producer. Established in 1979, the company has consistently expanded its operations, venturing into various downstream products like coated steel and color-coated steel. The company is a global steel producer headquartered in Mumbai and is renowned for its environmental stewardship and sustainability initiatives.

Since its inception, the company has remained at the forefront of research and development. Its products cater to a wide range of industries beyond construction and infrastructure, including automotive, electrical, and appliances.

Key Highlights of JSW Steel

• World’s sixth-largest steel plant at JSW Ballari
• Joint venture for a steel plant in Georgia
• Acquisition of a 3 MTPA hot rolling plant in Dolvi, Maharashtra

Current Scenario

• Revenue: INR 147,902 Cr
• Production capacity: 24 MTPA
• Employees: 14,387
• Products: Hot rolled, cold rolled, color-coated products, galvanized, Galvalume, Avante steel doors

2. Tata Steel

Tata Steel, a subsidiary of the Tata Group, is India’s largest steel producer and the second-largest globally. Founded in 1907, the company has a rich legacy of innovation and sustainability. With a steel production capacity of 34 million tonnes per annum (MTPA), Tata Steel caters to a diverse range of sectors, including construction, automotive, and energy.

Key Highlights of Tata Steel

• India’s second-largest steel producer (based on domestic production)
• Possesses captive iron-ore mines, offering a price edge over competitors
• Diversified product portfolio: Hot rolled, cold rolled, coated coil, tubes, rebar, wire rods

3. Jindal Steel & Power

Jindal Steel and Power (JSPL) is a leading steel producer with a capacity of 16 MTPA. Established in 1985, the company has diversified into various sectors, including power generation and infrastructure development. JSPL is known for its commitment to innovation and technological advancements.

JSPL is a force to be reckoned with in India’s steel, mining, and infrastructure sectors. The company’s backward integration strategy involves utilizing its own captive coal and iron ore mines to produce steel. With a global investment of 12 billion USD, JSPL is consistently expanding its capacity utilization and efficiency.

Key Highlights of Jindal Steel & Power

• Third-largest private steel producer in terms of tonnage
• First private player to produce rails
• Established the world’s first coal-gasification-based DRI facility at Angul, Odisha

Products:

• Parallel flange beams and columns
• Angles and channels
• Plates
• Coils
• Wire rods

4. Steel Authority of India (SAIL)

Steel Authority of India Limited (SAIL), a government-owned steel manufacturer headquartered in New Delhi, India, has a steel production capacity of 16 MTPA. The company’s core strengths lie in its integrated steel plants and extensive distribution network. The company plans to expand its hot metal production capacity to 50 million tonnes per annum by 2025.

Key Highlights of SAIL

• Traceable lineage to Hindustan Steel Limited (HSL), established in 1954
• Largest selection of steel products among Indian producers, including mild, special, and alloy steel in over 500 grades and 5000 dimensions
• Produces a range of products: Carbon steel, EQ grade, spring steel, free-cutting steel, ball bearing steel, cold-heading steel, low-alloy steel, forging quality steel

5. Jindal Stainless

Founded in 1970 by Shri O.P. Jindal, Jindal Stainless stands as one of the world’s top ten stainless steel companies and India’s largest stainless steel conglomerate.

Key Highlights of Jindal Stainless

• Equipped with cutting-edge machinery and equipment from Siemens VAI, SMS Siemag, and Andritz Sundwig
• Possesses a Ferro Alloys setup and a captive power generation unit
• Produces a wide range of stainless steel products, including plates, hot rolled, cold rolled, and slabs

6. TATA Steel BSL

Tata Steel BSL Limited, formerly known as Bhushan Steel Limited, is the largest producer of auto-grade steel in India. With over three decades of experience and a production capacity of 5.6 MTPA, Tata Steel BSL firmly establishes itself as India’s sixth-largest secondary steel producer.

Key Highlights of Tata Steel BSL

• Leading player in the Indian steel industry
• Exports steel for the automobile and white goods industries to industrialized nations

7. Godawari Power and Ispat

Godawari Power and Ispat (GPIL) is a flagship company of the Raipur-based Hira Group of Industries and holds a dominant presence in the long product segment of the steel industry, particularly in mild steel wire.

Key Highlights of Godawari Power and Ispat

• Established in 1999 with the vision of setting up an integrated steel plant
• Listed on both the National Stock Exchange and the Bombay Stock Exchange

Current Scenario

• Revenue: INR 4,071.92 Cr
• Production capacity: 1 MTPA
• Employees: 347
• Products: Sponge iron, billets, ferro alloys, steel wires, oxygen gas, fly ash brick, iron ore pellets

8. Electrosteel Castings

Electrosteel Castings is one of the largest producers of ductile iron pipes in the Indian subcontinent. Established in 1994, Electrosteel became the first company to set up a Ductile Iron Spun Pipe Plant in India.

Key Highlights of Electrosteel Castings

• Leading provider of pipeline solutions, delivering clean drinking water to millions
• Established international benchmarks for quality

Current Scenario

• Revenue: INR 140.63 Cr
• Production capacity: 7.3 MTPA
• Employees: 1,769
• Products: TMT bars, billets, wire rods, plain steel bars, DI pipes, pig iron

9. Essar Steel India Ltd.

Essar Steel India Ltd., a fully integrated flat carbon steel producer headquartered in Mumbai, was the flagship company of the Essar Group of Companies’ steel manufacturing businesses.

Key Highlights of Essar Steel India Ltd.

• Specialized in manufacturing high value-added grade steels
• Achieved the benchmark of a zero-waste corporation through sustainable practices

Current Scenario

• Production capacity: 10 MTPA
• Employees: 5,741
• Products: Hot rolled/cold rolled, coated coils and sheets, heavy plates, large diameter pipes

10. Rashtriya Ispat Nigam Ltd. (RINL)

Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, is a state-owned steel producer with a capacity of 7.5 MTPA. Established in 1971, the company is focusing on an expansion plan to reach a production capacity of 20 million tonnes by 2027.

Key Highlights of Rashtriya Ispat Nigam Limited (RINL)

• Operating a steel plant in Visakhapatnam with an annual production capacity of 7.3 million tonnes
• Embarking on a significant expansion plan to invest INR 60,000 crore to reach 20 MTPA by 2027

Current Scenario

• Revenue: INR 28,008 Cr
• Production capacity: 7.3 MTPA
• Employees: 11,000
• Products: Wire rods, TMT re-bars, rounds, squares, flats, angles, channels, LOCO & LHB wheels

Conclusion
These top 10 steel companies have played a pivotal role in shaping India’s steel industry, driving innovation, and contributing to the nation’s economic progress. As India continues to urbanize and its infrastructure needs expand, these companies are poised to play even more significant roles in shaping the future of India’s steel landscape.