Jindal Steel and Power Limited Rebrands as Jindal Steel Limited
New Delhi, June 22, 2025 – In a definitive move signaling a refined strategic focus, Jindal Steel and Power Limited (JSPL) will now be formally known as Jindal Steel Limited. The company’s Board of Directors approved this change to underscore its commitment to its core steel‑manufacturing business, stepping away from the power vertical as part of a broader rationalization strategy.
Why the Name Change?
According to the official exchange filing released on June 16, 2025, the decision aims to “align the company’s brand identity with its core business and strategic focus.” The board recommended the change to shareholders and to regulatory authorities such as the Ministry of Corporate Affairs, and the name revision will be accompanied by an update in the company’s Memorandum and Articles of Association.
Strategic Background
Over the past few years, JSPL has gradually scaled down its power generation assets and placed greater emphasis on expanding its steel operations. This shift reflects the company’s long‑term objective to become one of India’s largest and most efficient steel producers, with investments focused on high‑end steel manufacturing and capacity expansion, especially in Odisha’s Angul region.
Operational and Financial Context
JSPL has been actively scaling up production capacity. Chairman Naveen Jindal announced plans to raise steel output from around 9.5 million tonnes per annum (MTPA) to 16 MTPA within six months, ultimately targeting 24 MTPA by 2028 and 30 MTPA by 2030. Capacity expansion projects at its Angul steel complex are central to this ambition, with analysts forecasting robust growth in volumes and EBITDA by FY27 and FY28.
Market Reception and Shareholder Response
The name change has drawn investor interest. In February and March 2025, promoters — notably Jindal Power Ltd — increased their equity stake in JSPL, boosting market confidence and supporting a rally in the share price. Financial analysts have maintained bullish outlooks, with some projecting near‑term upside of up to 12–16%, driven by volume ramp‑ups and cost efficiencies from captive coal and mining assets.
Corporate Implications
As Jindal Steel Limited, the company intends to narrow its external identity strictly to its steel business. This rebranding signals to stakeholders — customers, investors, regulators — a clear message that power operations are no longer central to its corporate narrative. The change may help simplify governance, sharpen market positioning, and foster clearer investor targeting.
Industry and Competitive Landscape
The move comes amid intense competition among India’s private steel producers. Analysts note that JSPL’s ongoing expansions, combined with its coal-gasification technology (used at Angul) and captive coal supplies (both domestic and Australian), help contain input costs and enhance margins. These competitive advantages align well with the company’s rebranded identity, reinforcing its status as a pure-play steel entity.
Regulatory and Implementation Next Steps
Pending approval from shareholders and regulatory bodies, the company will officially implement the name change. Concurrent updates to legal documents, exchange listings, branding, and corporate collateral are expected as part of a phased rollout. The change is largely cosmetic in name only — the company’s operations, asset ownership, executive leadership (including Chairman Naveen Jindal), and business strategy remain intact.
Looking Ahead
With the rebranding, Jindal Steel Limited is poised to consolidate its image as a high-growth steel leader. Its flagship Angul complex is at the heart of expansion plans, targeting nearly tripling production from 6 MTPA to more than 15 MTPA by 2026–27 and 25.2 MTPA by 2030. Broader strategic commitments include green steel initiatives, such as integration of green hydrogen and syngas-based production methods, positioning the company among the forefront of sustainable steelmakers.