Jindal Stainless Expands Coin Blanks Capacity by 20% to Meet Growing Global Demand

Jindal Stainless is enhancing its annual capacity for coin blanks by 20 per cent to 12,000 tonnes, up from its current capacity of 10,000 tonnes. The expansion comes as the company anticipates a rise in demand for non-paper-based currency across various international geographies.

Speaking on the development, Vijay Bindlish, Unit Head of the Jindal Stainless Hisar facility, noted that the company manufactures coin blanks for both the Indian Mint and various international mints. The production takes place at the Special Products Division (SPD) of the company's Hisar facility in Haryana under high-security arrangements, alongside other high-end finished products such as precision strips and razor blades.

Bindlish shared that the company supplies unstamped coins to mints in India, France, Finland, Poland, the Netherlands, the UK's Royal Mint, Malaysia, and Slovakia. Production is customised according to the exact specifications provided by each mint, covering size, diameter, thickness, shape, and alloy composition.

Outlining the growth strategy for this segment, Bindlish stated that the company is aiming for additional orders globally, driven by the lower carbon footprint aspect of stainless steel manufacturing. Jindal Stainless expects work orders for denominations it does not currently manufacture for these clients and aims to enter new markets.

Saurabh Kumar, head of the SPD, added that the division maintains a global market share of 60 to 70 per cent. The division also produces 19,500 tonnes of razor blades annually following a recent capacity increase from 13,200 tonnes, supplying markets such as India, Poland, Vietnam, China, and South Korea, with intentions to maintain its market leadership.

The 0.8 million tonne Hisar facility is one of the oldest industrial setups in Haryana, having started carbon steel production in 1970 before shifting to stainless steel making in 1978 to curb import dependence.

Highlighting the operational sustainability measures at the plant, Sushil Jain, head of the cold rolling division, explained that the facility operates a zero liquid discharge system. Processed water and acids are recovered, treated, and reused internally with zero industrial effluent. Furthermore, the plant is increasing its green energy usage to 80 per cent this year, up from 70 per cent, supported by two captive hydrogen projects and a floating solar project.

"Jindal Stainless's strategic decision to expand its niche manufacturing capacity highlights the importance of scaling operations in response to specialized global demand. By focusing on sustainable production methods, such as utilizing green energy and zero liquid discharge systems, traditional industrial manufacturers can successfully capture and maintain dominant market shares internationally while adhering to evolving environmental standards." — Dr. Shishir Gupta, Founder & CEO, StartupLanes