Key Metrics of Jindal Steel
About Jindal Steel
Sectors
Company details
- Website
- jindalsteel.com
- Registered office
- O.p. Jindal Marg, Hisar, In-hr, 125005
- Listed
- NSE: JINDALSTEL · ₹1,105.00
Operational Areas of Jindal Steel
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
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Vendor checks & payment capacity
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Credit ratings
PositiveUpgraded by ICRA on 04 Aug 2026
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 22 Oct 2026 | ICRA | Reaffirmed | AA+ | A1+ | Stable | ₹40,200 Cr | View |
| 12 Oct 2026 | CARE | Reaffirmed | AA+ | A1+ | Stable | ₹40,225 Cr | View |
| 04 Aug 2026 | ICRA | Upgraded | AA+ | A1+ | Stable | ₹40,000 Cr | View |
| 07 Jul 2026 | CARE | Upgraded (from AA) | AA+ | A1+ | Stable | ₹40,025 Cr | View |
| 09 Oct 2025 | CARE | Reaffirmed | AA | A1+ | Stable | ₹40,025 Cr | View |
| 07 Apr 2025 | CARE | Reaffirmed | AA | A1+ | Stable | ₹40,025 Cr | View |
| 13 Jan 2025 | CARE | Reaffirmed | AA | A1+ | Stable | ₹40,000 Cr | View |
| 28 Aug 2024 | CARE | Other | — | — | — | — | View |
| 04 Apr 2024 | CARE | Reaffirmed | AA | A1+ | Stable | ₹40,000 Cr | View |
| 27 Oct 2023 | CARE | Reaffirmed (from AA-) | AA | A1+ | Stable | ₹40,000 Cr | View |
| 28 Mar 2023 | CARE | Reaffirmed | AA- | A1+ | Positive | ₹35,000 Cr | View |
| 06 Jan 2023 | CARE | Reaffirmed | AA- | A1+ | Stable | ₹35,000 Cr | View |
| 10 Oct 2022 | CARE | Reaffirmed | AA- | A1+ | Stable | ₹59,698 Cr | View |
| 13 Dec 2021 | CARE | Reaffirmed (from AA-) | A+ | A1+ | Stable | ₹59,698 Cr | View |
| 06 Jul 2021 | CARE | Revised (from A-) | A+ | A1+ | Stable | ₹0 | View |
| 06 May 2021 | CARE | Reaffirmed | A- | A2+ | Stable | ₹50,976 Cr | View |
| 01 Apr 2021 | CARE | Revised | — | A2+ | Stable | ₹50,976 Cr | View |
| 30 Dec 2020 | CARE | Revised (from BBB-) | BBB+ | A2 | Stable | ₹520 Cr | View |
| 06 Jul 2020 | CARE | Watch | BBB | A3 | Stable | ₹24,971 Cr | View |
| 17 Apr 2020 | CARE | Watch | BBB- | A3 | — | ₹25,170 Cr | View |
| 30 Aug 2019 | CARE | Reaffirmed | BBB- | A3 | Stable | ₹25,170 Cr | View |
| 08 Feb 2019 | CARE | Reaffirmed | BBB- | A3 | Stable | ₹25,002 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Significant improvement expected in consolidated sales volume and profits to support Jindal Steel’s credit profile
JSOL, the wholly-owned subsidiary of Jindal Steel, successfully commissioned its steel manufacturing facilities in March 2026, enhancing the Group’s steel-making capacity to 15.6 mtpa from 9.6 mtpa.
+ Strong financial risk profile with healthy leverage and coverage indicators
The higher scale of operation and an expected OPBDITA/tonne of >Rs. 11,000 per MT are likely to support comfortable credit metrics for the company with an estimated net debt/OPBDITA of ~1.5 times in FY2027.
+ Cost competitiveness arising from large-scale integrated operations and attractive plant locations
Jindal Steel manufacturing operations are vertically integrated, encompassing captive iron ore mines for partial capacity, captive thermal coal mines, coal washing, coke manufacturing, pelletisation, sponge iron manufacturing, power generation and production of semi and finished steel products.
+ Better raw material security through enhanced production
The ratings continue to derive comfort from Jindal Steel’s increasing backward integration and strengthening raw material security, supported by the operationalisation and ramp-up of multiple captive mining assets.
+ Established track record and diversified operations with forward integration into value-added products
Jindal Steel has an established track record in successfully commissioning greenfield/brownfield capacities in the steel and power segments as well as in operating its plants at healthy capacity utilisation.
Credit challenges
− Inherent vulnerability of steel business to volatility in metal prices
Jindal Steel operates in a cyclical industry with global overcapacity.
− Susceptibility of profitability to volatility in raw material prices
While the company’s raw material coverage has improved over the years, its profitability remains susceptible to the volatility in raw material requirements as it remains dependent on external purchases for a part of its coking coal and iron ore requirements.
− Exposure to regulatory risks
The ratings remain constrained by the company’s exposure to regulatory and policy-related risks inherent in the steel and the mining sectors.
Could lead to an upgrade
ICRA could upgrade the company’s rating if it demonstrates a significant growth in its operating income and profitability, along with strong
Could lead to a downgrade
Pressure on the ratings could emerge in case of a sustained deterioration in earnings, or if any sizeable debt-funded capex/investment/acquisition results in an increase in the net debt/OPBDITA of more than 2.0 times on a sustained basis.
Agency-reported financials (ICRA, 22 Oct 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹49,765 Cr | ₹53,225 Cr |
| PAT | ₹2,855 Cr | ₹3,376 Cr |
| OPBDIT/OI | 18.7% | 17.1% |
| PAT/OI | 5.7% | 6.3% |
| Total outside liabilities/Tangible net worth (times) | 0.80× | 0.90× |
| Total debt/OPBDIT (times) | 2.00× | 2.50× |
| Interest coverage (times) | 6.10× | 5.30× |
| Revenue growth (YoY) | — | 7.0% |
| EBITDA (margin × income) | ₹9,306 Cr | ₹9,101 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹18,612 Cr | ₹22,754 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1,526 Cr | ₹1,717 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term bank facilities | Working capital & bank lines | — | ₹18,385 Cr | — | AA+ (Stable) | Reaffirmed | CARE |
| Short-term bank facilities | Working capital & bank lines | — | ₹16,840 Cr | — | A1+ | Reaffirmed | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹5,000 Cr | — | AA+ (Stable) | Reaffirmed | CARE |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE749A07185 | Oct | Debentures & bonds | 9.80% | — | — | ₹50.0 Cr | BBB- | Not stated |
| INE749A07383 | Jan | Debentures & bonds | 9.80% | — | — | ₹75.0 Cr | BBB- | Not stated |
| INE749A07367 | Feb | Debentures & bonds | 9.80% | — | — | ₹75.0 Cr | BBB- | Not stated |
| INE749A07342 | Mar | Debentures & bonds | 9.80% | — | — | ₹75.0 Cr | BBB- | Not stated |
| INE749A07177 | Oct | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07326 | Nov | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07227 | Dec | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07391 | Jan | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07193 | Oct | Debentures & bonds | 9.80% | — | — | ₹75.0 Cr | BBB- | Not stated |
| INE749A07334 | Nov | Debentures & bonds | 9.80% | — | — | ₹75.0 Cr | BBB- | Not stated |
| INE749A07359 | Dec | Debentures & bonds | 9.80% | — | — | ₹75.0 Cr | BBB- | Not stated |
| INE749A07284 | Jan watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07300 | Feb watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07318 | Mar watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07151 | Aug watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07169 | Sep watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07201 | Nov watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07250 | Jan watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07219 | Nov watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A07268 | Dec watch with | Debentures & bonds | 9.80% | — | — | — | BBB- | Not stated |
| INE749A08126 | Aug watch with | Debentures & bonds | 10.48% | — | — | — | BBB- | Not stated |
| — | p.a. | Debentures & bonds | 9.80% | 29 Dec 2009 | 29 Dec 2021 | ₹24.8 Cr | A- | Matured |
| — | Debentures Non pa | Debentures & bonds | 9.80% | 24 Aug 2009 | 29 Dec 2021 | ₹160 Cr | BBB- | Matured |
| — | Debentures Non | Debentures & bonds | 9.80% | 24 Aug 2009 | 29 Dec 2021 | ₹250 Cr | BBB- | Matured |
| — | Debentures Non p.a. | Debentures & bonds | 9.80% | 29 Dec 2009 | 29 Dec 2021 | ₹24.8 Cr | BBB- | Matured |
| — | Debentures Non pa Under Credit | Debentures & bonds | 9.80% | 24 Aug 2009 | 29 Dec 2021 | ₹500 Cr | BBB- | Matured |
| — | Debentures Non Under Credit | Debentures & bonds | 9.80% | 24 Aug 2009 | 29 Dec 2021 | ₹710 Cr | BBB- | Matured |
| — | Debentures Non p.a. Under Credit | Debentures & bonds | 9.80% | 29 Dec 2009 | 29 Dec 2021 | ₹37.2 Cr | BBB- | Matured |
| — | pa | Debentures & bonds | 9.80% | 25 Jan 2010 | 26 Mar 2021 | ₹200 Cr | A- | Matured |
| — | p.a. | Debentures & bonds | 9.80% | 24 Nov 2009 | 25 Jan 2021 | ₹175 Cr | A- | Matured |
| — | p.a. | Debentures & bonds | 9.80% | 09 Nov 2009 | 08 Jan 2021 | ₹120 Cr | A- | Matured |
| — | Debentures Non pa | Debentures & bonds | 9.80% | 26 Mar 2010 | 28 Dec 2020 | ₹200 Cr | BBB- | Matured |
| — | Debentures Non pa | Debentures & bonds | 9.80% | 12 Oct 2009 | 12 Apr 2020 | ₹50.0 Cr | BBB- | Matured |
| — | Debentures Non pa Under Credit | Debentures & bonds | 9.80% | 12 Oct 2009 | 12 Apr 2020 | ₹100 Cr | BBB- | Matured |
| — | FY | Term loans | — | — | 31 Mar 2015 | ₹18,285 Cr | AA+ | Matured |
| — | FY | Term loans | — | — | 31 Mar 2015 | ₹16,760 Cr | AA+ | Matured |
| INE749A07466 | Jan | Debentures & bonds | 9.80% | — | — | ₹10.0 Cr | — | Withdrawn |
| INE749A07458 | Feb | Debentures & bonds | 9.80% | — | — | ₹10.0 Cr | — | Withdrawn |
| INE749A07433 | Mar | Debentures & bonds | 9.80% | — | — | ₹10.0 Cr | — | Withdrawn |
| INE749A07417 | Nov | Debentures & bonds | 9.80% | — | — | ₹9.00 Cr | — | Withdrawn |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| BG/LC | ₹16,840 Cr | CARE A1+ |
| Cash Credit | ₹1,600 Cr | CARE AA+; Stable |
| Commercial Paper | — | Withdrawn |
| Letter of credit | — | Withdrawn |
| Non Convertible Debentures | — | Withdrawn |
| Non Convertible Debentures | ₹5,000 Cr | CARE AA+; Stable |
| Term Loan | — | Withdrawn |
| Term Loan | ₹16,785 Cr | CARE AA+; Stable |
| Working Capital Limits | — | Withdrawn |
Lenders
| Fund-based - LT | Cash Credit | Axis Bank Ltd. |
| Fund-based - LT | Cash Credit | HDFC Bank Ltd. |
| Fund-based - LT | Cash Credit | ICICI Bank Ltd. |
| Fund-based - LT | Cash Credit | IndusInd Bank Ltd. |
| Fund-based - LT | Cash Credit | Punjab National Bank |
| Fund-based - LT | Cash Credit | Standard Chartered Bank |
| Fund-based - LT | Cash Credit | State Bank of India |
| Fund-based - LT | Cash Credit | Yes Bank Ltd. |
| Fund-based - LT | Term Loan | Axis Bank Ltd. |
| Fund-based - LT | Term Loan | Canara Bank |
| Fund-based - LT | Term Loan | Export Import Bank of India |
| Fund-based - LT | Term Loan | HDFC Bank Ltd. |
| Fund-based - LT | Term Loan | IDBI Bank Ltd. |
| Fund-based - LT | Term Loan | IndusInd Bank Ltd. |
| Fund-based - LT | Term Loan | Proposed |
| Fund-based - LT | Term Loan | State Bank of India |
| Non-fund-based - ST | BG/LC | Axis Bank Ltd. |
| Non-fund-based - ST | BG/LC | HDFC Bank Ltd. |
| Non-fund-based - ST | BG/LC | ICICI Bank Ltd. |
| Non-fund-based - ST | BG/LC | IndusInd Bank Ltd. |
| Non-fund-based - ST | BG/LC | Proposed |
| Non-fund-based - ST | BG/LC | Punjab National Bank |
| Non-fund-based - ST | BG/LC | Standard Chartered Bank |
| Non-fund-based - ST | BG/LC | State Bank of India |
| Non-fund-based - ST | BG/LC | Yes Bank Ltd. |
Credit assessment · Iron & steel
ICRA Rating Methodology – Iron & Steel (Jun 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 61% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 63% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
- Interest coverage 5.3×
- Working-capital limits 30% utilised on average
- ₹175 cr of rated limits not yet tied to a lender
What happened, step by step
- Jul 2021 — Full repayment of NCD
- Dec 2021 — ₹673 cr raised through equity
“The promoters of the company have demonstrated their support in the form of regular equity infusions; by way of issue of share warrants of Rs.673 crore to the promoters (issued in FY18 with 25% upfront receipt and converted into equity share in FY20 with receipt of remaining 75%) and fresh equity infusion of Rs.20crore...”
- Jul 2021 — Full repayment of NCD
- Dec 2021 — ₹1,800 cr raised through equity from JSPL
“The company has incurred total cost of Rs.1,800 crore till November 24, 2021 by way of equity infusion from JSPL and Capex LC issuance.”
Rated limits by facility
Timeline
From the report
Long-term – Fund-based – Term 16,759.95 18,285.00 reaffirmed/assigned for RBI loan enhanced amount Short-term – Non-fund based bank 16,640.05 15,140.00 [ICRA]A1+; reaffirmed RBI facilities Long-term – Unallocated limits - 175.00 [ICRA]AA+ (Stable); assigned RBI Non-convertible debentures 5,000.00 5,000.00 [ICRA]AA+ (Stable); reaffirmed SEBI (NCDs) Total 40,000.00 40,200.00 *Instrument details are provided in Annexure I # SEBI’s grievance redressal/dispute resolution and SEBI investor protection mechanisms such as SCORES and ODR shall not be ava ilable for activities and instruments, which fall
From the report
ICRA also derives comfort from Jindal Steel’s comfortable liquidity position with liquid cash balances and investment portfolio of ~Rs. 5,605 crore as on March 31, 2026.
From the report
ICRA expects Jindal Steel’s consolidated cash flow from operations of ~Rs. 6,213 crore and accumulated liquid balances to be sufficient to meet the margin requirements for its capex as well as the debt servicing requirements in the near to medium term (repayment obligations of ~Rs. 1,892 crore in FY2027).
From the report
ICRA expects Jindal Steel’s consolidated cash flow from operations of ~Rs. 6,213 crore and accumulated liquid balances to be sufficient to meet the margin requirements for its capex as well as the debt servicing requirements in the near to medium term (repayment obligations of ~Rs. 1,892 crore in FY2027).
From the report
The average working capital utilisation also remained comfortable at around 30% in the last 12 months, further supporting the liquidity position .
From the report
Liquidity is further supported by the company’s healthy cash and cash equivalents amounting to ~₹6,200 crore as on March 31, 2026.
From the report
ICRA also derives comfort from Jindal Steel’s comfortable liquidity position with liquid cash balances and investment portfolio of ~Rs. 5,605 crore as on March 31, 2026.
From the report
ICRA expects Jindal Steel’s consolidated cash flow from operations of ~Rs. 6,213 crore and accumulated liquid balances to be sufficient to meet the margin requirements for its capex as well as the debt servicing requirements in the near to medium term (repayment obligations of ~Rs. 1,892 crore in FY2027).
From the report
ICRA expects Jindal Steel’s consolidated cash flow from operations of ~Rs. 6,213 crore and accumulated liquid balances to be sufficient to meet the margin requirements for its capex as well as the debt servicing requirements in the near to medium term (repayment obligations of ~Rs. 1,892 crore in FY2027).
From the report
The average working capital utilisation also remained comfortable at around 30% in the last 12 months, further supporting the liquidity position.
From the report
The liquidity is further supported by the company’s healthy cash & cash equivalents amounting to ~₹6,200 crore as on March 31, 2026.
From the report
Liquidity: Strong The company holds a strong liquidity position which is marked by its healthy gross cash accruals (GCA) above ₹5,500 crore in FY25, which is further expected to improve with JSOL facility being operational at the optimum level from FY27 onwards.
From the report
The company has incurred a total cost of ~₹19,000 crore till December 31, 20 24, by way of equity infusion from JSPL and capex LC issuances/term loan.
From the report
Liquidity : Strong The company holds a strong liquidity position which is marked by its healthy gross cash accruals (GCA)above ₹8,000 crore annually, which is further strengthened by it cash and cash equivalents (including margin money) amounting to ~₹5,000.00 crore as on December 31, 2024.
From the report
The company has incurred a total cost of ~₹19,000 crore till December 31, 2024, by way of equity infusion from JSPL and capex LC issuances/term loan.
From the report
Liquidity: Strong The company holds a strong liquidity position which is marked by its healthy gross cash accruals (GCA)above ₹8,000 crore annually, which is further strengthened by it cash and cash equivalents (including margin money) amounting to ₹3,523.13 crore as on September 30, 2024.
From the report
The company has incurred a total cost of around ₹13,500 crore up to February 29, 2024, by way of equity infusion from JSPL and capex LC issuances.
From the report
Liquidity: Strong The liquidity position is marked strong with cash & cash equivalents (includes margin money) at ₹3,439 crore as on December 31, 2023 (₹5,482 crore as on March 31, 2023).
From the report
The company has a cumulative sanctioned limit of ₹18,240 crore (includes fund-based limits of ₹1,600 crore and non-fund-based limits of ₹16,640 crore) as on February 29, 2024, with an average utilisation of fund-based limits at 13%.
From the report
The company has a cumulative sanctioned limit of ₹18,240 crore (includes fund-based limits of ₹1,600 crore and non-fund-based limits of ₹16,640 crore) as on February 29, 2024, with an average utilisation of fund-based limits at 13%.
From the report
The company has incurred a total cost of ~ ₹12,000 crore up to September 30, 2023, by way of equity infusion from JSPL and capex LC issuances.
From the report
Liquidity: Strong The liquidity position is marked strong with cash & cash equivalents (includes margin money) at ₹4,672 crore as on June 30, 2023 (₹5,482 crore as on March 31, 2023).
From the report
The company has a cumulative sanctioned limit of ₹20,140 crore (includes fund-based limits of ₹2,000 crore and non-fund-based limits of ₹18,140 crore) as on September 30, 2023, with an average utilisation of fund-based limits at 16% and non-fund-based limits at 63% for 12 months ending June 2023.
From the report
The company has a cumulative sanctioned limit of ₹20,140 crore (includes fund-based limits of ₹2,000 crore and non-fund-based limits of ₹18,140 crore) as on September 30, 2023, with an average utilisation of fund-based limits at 16% and non-fund-based limits at 63% for 12 months ending June 2023.
From the report
JSPL has completed the divestment process of Jindal Power Limited (JPL) against a cash consideration of ₹ 3,015 crore in Q1FY23, and resultantly, JPL has ceased to be a subsidiary or an associate entity of JSP L.
From the report
The company has incurred a total cost of ₹7,116 crore up to November 30, 2022, by way of equity infusion from JSPL and capex LC issuances.
From the report
The company had cash and cash equivalents of ₹3,505 crore, as on December 31, 2022.
From the report
JSPL has completed the divestment process of Jindal Power Limited (JPL) against a cash consideration of ₹ 3,015 crore in Q1FY23, and resultantly, JPL has ceased to be a subsidiary or an associate entity of JSP L.
From the report
The total debt is expected to increase in FY23 owing to the debt to be availed to fund the ongoing capex in Jindal Steel Odisha Limited (JSOL).
From the report
The company had cash and cash equivalents of ₹3,830 crore as on March 31, 2022.
From the report
The cash and cash equivalents as on September 30, 2022, stood at ₹ 6,440 crore.
From the report
The company has incurred a total cost of ₹7,116 crore up to November 30, 2022, by way of equity infusion from JSPL and capex LC issuances.
From the report
JSPL has completed the divestment process of Jindal Power Limited (JPL) against a cash consideration of ₹ 3,015 crore in Q1FY23, and resultantly, JPL has ceased to be a subsidiary or an associate entity of JSPL .
From the report
The TD is expected to increase in FY23 owing to the debt availed to fund the ongoing capex in Jindal Steel Odisha Limited (JSOL).
From the report
The envisaged cash accruals for FY23, supported by cash and cash equivalents available at the beginning of FY23, are adequate to cover its scheduled debt repayment obligations of ₹2,516 crore (including current portion of lease liabilities).
From the report
It had cash and cash equivalents of ₹3,830 crore as on March 31, 2022.
From the report
The company has incurred a total cost of ₹6,777 crore up to September 15, 2022, by way of equity infusion from JSPL and capex LC issuance.
From the report
The ratings also take cognizance of JSPL bagging Kasia iron ore mine in recent auctions and commencement of Russel Vale coking coal mining in Australia thereby strengthening the company’s raw material security and shareholder’s approval for modified terms of JPL divestments which entails a reduction in consolidated debt, extinguishment of liabilities related to ICDs and advances, besides cash consideration of about Rs.3,015 crore.
From the report
The promoters of the company have demonstrated their support in the form of regular equity infusions; by way of issue of share warrants of Rs.673 crore to the promoters (issued in FY18 with 25% upfront receipt and converted into equity share in FY20 with receipt of remaining 75%) and fresh equity infusion of Rs.20crore and company also raised equity through a qualified institutional placement (QIP) in FY18 of Rs.1,200 crore.
From the report
The company has incurred total cost of Rs.1,800 crore till November 24, 2021 by way of equity infusion from JSPL and Capex LC issuance.
From the report
The projected cash accruals for FY22 supported by cash & cash equivalents available at the beginning of FY22 are adequate to cover its scheduled repayment obligation of Rs.6,803 crore.
From the report
It has cash and cash equivalents of Rs.4,844 crore as on September 30, 2021.
From the report
The proposed sale is subject to necessary approval of shareholders of the companies, regulatory approvals, approval from lenders of JSPL and JPL, contractual approvals and other approvals, consents, permissions and sanctions as may be necessary in line with the extant relevant guidelines. 1 Complete definition of the ratings assigned are available at www.careratings.com and other CARE publications. 1 CARE Ratings Limited Press Release CARE has withdrawn the ratings assigned to the NCD issues of Jindal Steel and Power Limited with immediate effect, as the company has repaid the NCD issues in fu
From the report
The promoters of the company have demonstrated their support in form of regular equity infusions; more recently through a qualified institutional p lacement (QIP) in FY18 of Rs. 1,200 crore followed by issue of share warrants to promoters of Rs. 673 crore (issued in FY18 with 25% upfront receipt and converted into equity share in FY20 with receipt of remaining 75%) and fresh equity infusion of Rs 20 c rore.
From the report
Liquidity: Strong JSPL’s liquidity position improved and stood strong marked by healthy cash accruals of Rs. 12,334 crore during FY21 (PY: Rs. 3,731 crore) and free cash and cash equivalent of ~Rs 7,000 crore as on March 31, 2021.
From the report
The company expects gross cash accruals of ~Rs. 12,600 crore against scheduled debt repayment obligation of Rs. 6861 crore (excl .
From the report
The company expects gross cash accruals of ~Rs. 12,600 crore against scheduled debt repayment obligation of Rs. 6861 crore (excl .
From the report
Free cash and cash equivalent of the company after making the payment of instalment of JSPML in April and prepayment of debt in May and June, 2021 stood at ~Rs. 1 ,650 crore as on June 2 6, 2021, while the unutilized CC limit was of ~Rs. 1250 crore.
From the report
Average fund based working capital utilization of the company stood low at ~40% for the trailing 12 months ended May, 2021.
From the report
The promoters of the company have demonstrated their support in form of regular equity infusions; more recently through a qualified institutional placement (QIP) in FY18 of Rs. 1,200 crore followed by issue of share warrants to promoters of Rs. 693 crore in FY18 and FY20.
From the report
The promoters of the company have demonstrated 2 CARE Ratings Limited Press Release their support in form of regular equity infusions; more recently through a qualified institutional placement (QIP) in FY18 of Rs. 1,200 crore followed by issue of share warrants to promoters of Rs. 693 crore in FY18 and FY20.
From the report
The promoters of the company have demonstrated their support in form of regular equity infusions; more recently through a qualified institutional placement (QIP) in FY18 of Rs. 1,200 crore followed by issue of share warrants to promoters of Rs. 693 crore in FY18 and FY20.
From the report
Free cash and cash equivalents as on September 30, 2020 stood at Rs. 498.30 crore (March 31, 2020: Rs. 744.91 crore) Analytical approach: CARE has adopted a consolidated approach on account of operational and financial linkages among the entities.
From the report
The promoters of JSPL have demonstrated their support in form of regular equity infusions, more recently through a qualified institutional placement (QIP) in FY18 (refers to the period: April 01, 2017 to March 31, 2018) of Rs. 1,200 crore followed by issue of share warrants to promoters of Rs. 693 crore in FY18 and FY20.
From the report
Free cash and cash equivalents as on March 31, 2020 stood at Rs. 744.91 crore (PY: Rs. 329.30 crore).
From the report
JSPL has opted for moratorium on the repayment of loans to its lenders till May 31, 2020.
From the report
Liquidity position: JSPL has adequate liquidity position on a standalone basis marked by gross cash accruals of Rs.3,136 crore during FY19 as against gross loan repayments of Rs.2,105 crore during FY20.
From the report
Besides cash accruals, the liquidity position is supported by equity infusion of Rs.505 crore during Q1FY20 and undrawn lines albeit high utilization of fund based limits which stood at 92% for trailing 12 months ended May 2019.
From the report
Liquidity The company has generated healthy cash accruals of Rs.2,675 crore during 9MFY19 against which it has full year repayments of Rs.1,859 crore.
From the report
The company’s liquidity position is further supported by cash and cash equivalent of Rs.217.85 crore as on September 30, 2018.
From the report
Further, the average working capital utilization remained at 92.73% over the past eleven months ended November 2018.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Jindal Steel
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Tata Steel |
Steel | tatasteel.com | 1907 | Mumbai, Global |
 JSW Steel |
Steel | jsw.in | 1982 | Mumbai, Global |
| Steel | sail.co.in | — | Salem, Global | |
| TMT Bars & Secondary Steel · Steel, Metals & Pipes | entropya.com/ieg-router | — | Global | |
| TMT Bars & Secondary Steel · Steel, Metals & Pipes | nucor.com | — | United States | |
| TMT Bars & Secondary Steel · Steel, Metals & Pipes | steeldynamics.com | 1996 | United States | |
| TMT Bars & Secondary Steel · Steel, Metals & Pipes | cartech.com | — | United States | |
| TMT Bars & Secondary Steel · Steel, Metals & Pipes | clevelandcliffs.com | — | United States | |
| TMT Bars & Secondary Steel · Steel, Metals & Pipes | cmc.com | — | United States | |
| Pipes & Tubes · Steel, Metals & Pipes | surya.co.in | — | Bahadurgarh, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
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