Jindal Stainless Commits ₹900 Crore to Scale Cold Rolling Capacity to 2.67 MT by FY28, Reports Strong FY26 Financials

NEW DELHI: In a decisive move to fortify its industrial manufacturing footprint, Jindal Stainless has announced a massive ₹900 crore capital expenditure plan aimed at scaling its cold rolling capacity. According to the company's annual report for FY26 outlined by Managing Director Abhyuday Jindal, this strategic financial injection will push the company's cold rolling output from 2.05 million tonnes per annum (MTPA) to an impressive 2.67 MTPA by the fiscal year 2028.

This aggressive capacity expansion is designed to capture soaring market demand driven by high-growth sectors such as automotive, domestic appliances, and food processing. Cold rolling is an advanced precision metalworking technique that shapes and compresses steel at room temperature, dramatically boosting structural integrity, ensuring tight dimensional tolerances, and providing a flawless surface finish. These attributes render cold-rolled sheet metal indispensable for modern, high-durability engineering applications.

The deployment of the ₹900 crore investment is strategically distributed across key manufacturing hubs, including Hisar, Kharagpur, and Jajpur. In Jajpur, the capital will specifically fund new hot rolled annealing, pickling, and cold rolling facilities, enabling a higher-value product mix tailored for industrial and consumer applications. Furthermore, the company is actively evaluating potential sites in Maharashtra for a monumental ₹40,000-crore stainless steel manufacturing facility. This proposed mega-project is targeted at producing specialized steel grades for critical futuristic sectors such as hydrogen energy, nuclear power, defense, advanced mobility, and core infrastructure.

Beyond physical expansion, Jindal Stainless continues to demonstrate robust financial health and a steadfast commitment to sustainable manufacturing. For FY26, the company posted a consolidated revenue of ₹42,955 crore. Operational profitability witnessed significant expansion, with EBITDA jumping 19.2 percent year-on-year to ₹5,560 crore, while profit after tax (PAT) recorded a substantial growth of 27.4 percent, touching ₹3,185 crore. Finished goods sales volume achieved a historic milestone at 2.57 million tonnes, supported by a conservative net debt-to-equity ratio of 0.15x, which affords the enterprise exceptional financial muscle for future growth initiatives.

On the sustainability front, Jindal Stainless integrated environmental stewardship into its core operations during FY26. Renewable energy sources accounted for approximately 47 percent of total electricity consumption across its Hisar and Jajpur facilities. Additionally, the company maintained a high benchmark of utilizing nearly 70 percent recycled scrap in its electric arc furnace-based production lines, staying firmly on track to meet its long-term decarbonization targets of halving Scope 1 and Scope 2 emissions by 2035 and achieving net-zero emissions by 2050.

"Jindal Stainless’s aggressive ₹900 crore capacity expansion and its visionary pipeline for a ₹40,000-crore specialized steel plant in Maharashtra underscore a masterclass in long-term industrial scaling. At StartupLanes, we closely observe how traditional manufacturing giants evolve; Jindal is not merely boosting tonnage, but strategically future-proofing its portfolio for high-margin, high-tech sectors like defense, clean energy, and advanced mobility. Their ability to deliver a 27.4 percent surge in profit after tax while aggressively advancing toward green manufacturing benchmarks—such as 47 percent renewable energy integration—proves that robust balance sheet management and deep sustainability are no longer mutually exclusive. This approach sets a gold standard for heavy industries aiming to dominate both domestic value chains and global export markets in the coming decade." — Dr. Shishir Gupta, Founder & CEO, StartupLanes