FIIs and DIIs Increase Stake: Company Bets Big on Green Energy with India’s Largest Green Hydrogen Investment to Date!
The company’s shares have delivered an impressive return of over 850 per cent in the past 5 years.
Jindal Steel & Power Ltd and Jindal Renewables (JRPL) have announced a landmark MOU to implement India’s largest investment in green hydrogen by any Indian steelmaker to date.
This collaboration underscores a major commitment by both companies towards decarbonization and green energy leadership in India’s steel industry. The MOU outlines JSPL’s plan to integrate green hydrogen into its Direct Reduced Iron (DRI) units in Angul, Odisha. This initiative represents a significant leap towards low-emission steel production.
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In the first phase, Jindal Renewables will develop a green hydrogen generation capacity of up to 4,500 tons per annum, set to commence by December 2025. In addition, the project will also involve the supply of 36,000 tons of oxygen per annum, which will be used in the Angul steelworks. JRPL will also supply approximately 3 GW of renewable energy to JSPL’s facilities, reducing the steelmaker’s dependence on coal-fired energy by 50 per cent in the next 2-3 years. This integration of green energy is expected to drastically lower the company’s carbon footprint.
Jindal Steel & Power Ltd is one of India's leading steel producers, with a significant presence in sectors such as mining and power generation. The group has a global presence through its subsidiaries, mainly in Australia, Botswana, Indonesia, Mauritius, Mozambique, Madagascar, Namibia, South Africa, Tanzania, and Zambia.
Currently, the shares of Jindal Steel & Power Ltd are trading at around Rs 1038.90 per share on the BSE. The company’s current market capitalization stands at Rs 1,06,170.77 crore. Additionally, the shares have delivered an impressive return of over 45 per cent in the past year.
As per the Quarterly Results, in the Q1 FY25, Jindal Steel & Power Ltd recorded a revenue of Rs 12,588 crore compared to Rs 13,618 crore representing a growth of 8.18 per cent YoY. The operating profit stood at Rs 2,839 crore compared to Rs 2,628 crore. The net profit stood at Rs 1,338 crore compared to a profit of Rs 1,692 crore.
According to the shareholding pattern of the company, the promoters hold a significant 61.19 per cent stake. Public investors own 10.01 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 12.64 per cent and Domestic Institutional Investors (DIIs) own 15.34 per cent. Both FIIs and DIIs increased their stake in Q1 FY25.
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Disclaimer: The article is for informational purposes only and not investment advice.