Jindal Stainless Hisar commissions 26,000 TPA capacity Precision Strip Mill

The capacity addition to JSHL’s Specialty Products Division is the first phase of the company’s brownfield expansion plan

On Wednesday, Jindal Stainless (Hisar) Limited (JSHL) announced the commissioning of the 26,000 tons per annum (TPA) capacity Precision Strip Mill as part of the first phase of its latest brownfield expansion plan at its state-of-the-art Specialty Products Division (SPD). This takes the total precision strip production capacity to 48,000 TPA from the existing 22,000 TPA. 

The capacity expansion of precision strips is expected to strengthen the JSHL’s presence in segments like auto, process industry, and oil and petrochemical. It will further augment supplies to aerospace and electric vehicles. The capacity expansion at SPD is part of JSHL’s plan to leverage its leadership position in speciality and value-added products. This expansion will further help the Company consolidate its leadership position in the international market. 

The total Capex for the brownfield expansion is estimated at Rs 450 crore over the next two years. As part of the expansion of SPD, JSHL will increase its total precision strip capacity to 60,000 tons per annum by the end of Q2FY23 with an estimated Capex of Rs 250 crore. 

Furthermore, to expand its market outreach, JSHL will also augment its blade steel capacity to 24,000 TPA from the existing 14,000 TPA over two years with an estimated total Capex of Rs 200 crore. 

On Wednesday, the stock of Jindal Stainless (Hisar) Limited closed at Rs 313.70, down marginally by 0.38 per cent or Rs 1.20 per share on BSE. The 52-week high of the scrip is recorded at Rs 334.55 and the 52-week low at Rs 89 on the BSE.