Jindal Steel and Power to Rebrand as ‘Jindal Steel’; Reports ₹304 Cr Q4 Loss

Jindal Steel and Power Ltd (JSPL) will get a radical brand transformation, stripping “Power” from the group name to place greater emphasis on its steel-manufacturing core business. The Board has given nod to the change of the company name to Jindal Steel Limited, subject to the approval of shareholders, Ministry of Corporate Affairs, and other regulators.

Concurrently with the rebranding exercise, JSPL will make the necessary changes to its Memorandum and Articles of Association to correspond to the new corporate identity.

The move follows the Q4 results in which JSPL had posted a consolidated net loss of ₹304 crore for the quarter ended March FY25, a sharp drop from the ₹933 crore net profit that had been posted during the same quarter last year. The loss despite a marginal fall in revenue, as gross revenue slipped to ₹15,525 crore from ₹15,749 crore year-on-year.

Even though there was a loss of money, the operational performance of the business improved slightly. Production of steel was better at 2.11 million tonnes from 2.05 million tonnes in Q4 FY24, while sales also picked up to 2.13 million tonnes from 2.01 million tonnes in the same period last year.

In a gratifying development for shareholders, the board has declared a final dividend of 200%, equivalent to ₹2 per share for FY25, subject to shareholders’ approval.

The company’s share closed at ₹920.50 on BSE on Monday, lower by ₹0.20 or 0.022%.

The name change reflects JSPL’s strategic intention to firm up its identity on its steel business, deflecting its focus from the power segment in which it is slowly exiting. The change of name fits in with wider efforts to rationalize business focus and build investor recognition.