Jindal Stainless to Invest ₹900 Crore to Expand Cold-Rolled Steel Capacity by FY28

Jindal Stainless is stepping up investments in its downstream operations as demand for higher-value stainless steel products continues to grow across automotive, appliances, food processing and industrial applications.

The company plans to invest ₹900 crore across its facilities at Hisar and Kharagpur, with the investment aimed at increasing its cold-rolled steel capacity from 2.05 million tonnes per annum to 2.67 million tonnes per annum by FY28.

The expansion comes as manufacturers increasingly look for stainless steel products with tighter dimensional tolerances, better surface finish and higher precision for specialised applications.

Jindal Stainless Managing Director Abhyuday Jindal said the company is also strengthening its downstream capabilities alongside investments in upstream operations. New hot-rolled annealing, pickling and cold-rolling facilities are being developed at Jajpur in Odisha as part of the broader expansion programme.

The company expects the additional capacity to support a higher-value product mix, particularly in sectors such as automobiles, household appliances, food processing and industrial manufacturing.

Cold rolling is a key finishing process used to improve the strength, surface quality and dimensional accuracy of steel. Demand for such products has been supported by the growing use of stainless steel in applications where durability and surface finish are important.

Jindal Stainless is also pursuing a much larger expansion plan in Maharashtra. The company is currently identifying a suitable location for a proposed ₹40,000 crore stainless steel manufacturing facility. The project is expected to focus on specialised grades of steel required for emerging and strategic sectors, including hydrogen, nuclear energy, defence, mobility, infrastructure and process industries.

The Maharashtra project is also expected to improve logistics efficiency and support import substitution, according to the company.

Jindal Stainless has highlighted sustainability as another part of its expansion strategy. During FY26, renewable energy accounted for nearly 47% of electricity consumption across its Hisar and Jajpur facilities. The company also maintained around 70% recycled scrap utilisation in its electric arc furnace-based manufacturing operations.

Financially, the company reported consolidated revenue of ₹42,955 crore in FY26. EBITDA increased 19.2% year-on-year to ₹5,560 crore, while profit after tax rose 27.4% to ₹3,185 crore. Finished goods sales reached a record 2.57 million tonnes during the year.

The planned capacity expansion is expected to strengthen Jindal Stainless’ position in value-added stainless steel while giving the company greater capacity to respond to demand from India’s manufacturing and industrial sectors.