JSW Group
TypePrivate
IndustryConglomerate
Founded1982 (1982)
FounderSajjan Jindal
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Products
RevenueIncrease US$23 billion[1]
Number of employees
55,000[2]
ParentO.P. Jindal Group
Subsidiaries
  • JSW Steel
  • JSW Ispat Special Products Limited
  • JSW Energy
  • JSW Cement
  • JSW One Platforms
  • JSoft Solutions
  • JSW Infrastructure
  • Jindal Praxair Oxygen Company Limited (JPOCL)
  • JSW Paints
  • JSW Holdings
  • JSW Ventures
  • JSW Realty
  • JSW Sports
  • Barmer Lignite Mining Co Ltd (BLMCL)
  • PNP Maritime Services
  • MG Motor India
Websitewww.jsw.in

JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and is part of the O.P. Jindal Group.[3] The group's diverse businesses include steel, energy, infrastructure, cement and paints, across India, the United States, South America, and Africa.[4]

History

1982-1994

The JSW Group was founded in 1982 when Jindal acquired a re-rolling mill located in Tarapur, Maharashtra, near Mumbai, from Piramal Steel.[5] Following the acquisition, the group renamed it Jindal Iron and Steel Company (JISCO). Subsequently, in the same year, the group established its first steel plant in Vasind, near Mumbai.[6]

1994-2005

In 1994, Jindal Vijayanagar Steel Limited (JVSL) was established in 1994. Situated at Toranagallu in the Bellary–Hospet region of Karnataka, this plant strategically positioned itself in the heart of the high–grade iron ore belt, sprawling across 3,700 acres of land.[7] In 2004, JSW made a strategic move by acquiring Salem Steel Works, adding to its portfolio. The year 2005 witnessed a pivotal moment in group's history when JISCO and JVSL merged to create JSW Steel.[8]

In 1994, JSW Energy Limited was established as power company, focusing on power generation, transmission and trading.[9]

In 1999, JSW Infrastructure was founded to construct and operate airports, shipyards, townships, roads and rail connectivity, inland waterways, water treatment plants, special economic zones and other infrastructural facilities.[10]

2008-2014

In 2008, JSW Group ventured into a rebar joint venture in Georgia.[11] The construction of an integrated steel plant at Dolvi, Maharashtra, in 1994 with the help of ESPIC Consultancy added to their steel production portfolio. And, the acquisition of Welspun Maxsteel in 2014 marked as a diversification in the group's history.[12]

In 2009, JSW Group entered the cement business by establishing JSW Cement and established production facilities in various locations including Vijaynagar, Nandyal (Andhra Pradesh), Dolvi, Jaipur, Shiva (Odhisha), Salboni (West Bengal), and Fujairah (United Arab Emirates).[13]

2018-2020

In 2018, JSW Group purchased Italy's Aferpi.[14] Also, investments were made in a greenfield Texas plant and the takeover of bankrupt Bhushan Power. In 2020, JSW's purchase of Bhushan Power faced legal challenges, but the group pressed on, acquiring stakes and expanding its presence.[15]

On 2 May 2019, JSW Group established JSW Paints with a total investment of ₹600 crore (US$75 million), with ₹250 of equity investment and a ₹350 crore debt investment from Axis Bank.[16][17]

2021-2023

In 2021, JSW Steel Italy acquired a stake in GSI Lucchini and set a CO2 reduction target for 2030.[18] In 2022, they planned the merger of JISPL and CSSL subsidiaries and secured approval for a greenfield steel plant in Andhra Pradesh.[19] In 2013, the group entered into a collaboration with Japan's JFE Holdings in the electrical steel sector.[20] In December 2023, JSW Infrastructure announced plans to acquire a majority stake in PNP Port for ₹270 crore.[21]

Financials

The group witnessed growth, expanding from a company worth ₹93 crore (US$12 million) in 1993 to ₹12,700 crore (US$1.6 billion) crore in 2008,[5] and further expanding to become a company valued at ₹180,000 crore (US$23 billion) by 2023.[22][23]

Corporate affairs

Workplace culture

During 2023, the JSW Group increased its recruitment of female engineers through the Graduate Engineering Trainee (GET) program, nearly tripling the number compared to the previous year. The group has brought onboard over 2,300 young GETs, with nearly 600 of them being women, and has established a goal to reach a 30% representation of women in the program over the next two years.[24]

Group companies

Listed

  • JSW Steel – JSW Steel has one of the world's largest single blast furnaces with a capacity of 4.8 MTPA.[25] JSW's overall installed capacity is 28.5 MTPA.[26]
  • JSW Energy – JSW Energy has a power generation capacity of 6564 megawatts (MW),[27] out of which 3158 MW is thermal power, 1391 MW is hydropower and 10 MW solar power.[28] It plans to significantly increase its capacity from 6.3GW to 20GW by March 2030 by solar and wind-based power projects.[29]
  • JSW Infrastructure – Based in Mumbai,[30] its primary business interests are in the development of infrastructure for ports, roads, and rail connectivity.[30][31] JSW Dharamtar Port and JSW Jaigad Port both ports are operated by JSW Infrastructure. The company has a cargo handling capacity of 153MT. In FY22, the company recorded a profit of ₹318 crore from a revenue of ₹2,273 crore.[29] On 3 October 2023, JSW Infrastructure debuted at a premium of 20.2% on Indian stock market via IPO.[32] JSW Infrastructure is upgrading the Salav jetty into a port.[33] JSW Infrastructure is building two greenfield ports at Nangaon and Keni.[34]
  • JSW Holdings – JSW Holdings is a Non-Banking Financial Company (NBFC) that forms the investment arm of the JSW Group. The company makes strategic investments in new ventures promoted by the JSW Group.[35]

Unlisted

  • JSW Cement – Currently, it has a capacity of 17 MTPA.[36] The company is currently engaged in initiatives to develop zero clinker cement, a type of cement that eliminates the need for limestone mining. Instead, it will utilize fly ash and ground-granulated blast-furnace slag, combined with a chemical additive, to produce concrete.[29]
  • JSW Paints – There are two manufacturing facilities under its operation, with one dedicated to industrial coatings located in Vasind (Maharashtra), and the other focused on decorative coatings situated in Vijayanagar.[29]
  • JSW Ventures – JSW Ventures is the venture capital arm of JSW Group which invests in early-stage Indian startups.[37]
  • JSW Realty – It is the real-estate arm of the group, focusing on sustainable residential and commercial projects.
  • JSW Sports – Through JSW Sports, the group also owns the Indian Premier League cricket team Delhi Capitals (in partnership with GMR Group), the SA20 cricket team Pretoria Capitals, the ILT20 cricket team Dubai Capitals, the Indian Super League football club Bengaluru FC, and the Pro Kabaddi League team Haryana Steelers.[38]
  • JSW One Platforms – Launched in 2021, it comprises two entities: JSW One MSME and JSW One Homes. The former is an online platform for MSMEs, providing an industrial materials such as steel, welding consumables, TMT bars, and cement. On the other hand, the latter is a digital platform that specializes in end-to-end home construction solutions for individual real estate companies and builders.[39]

Joint-ventures

  • JSW Ispat Special Products Limited, established in 1990 as Monnet Ispat & Energy Limited (MIEL), which does manufacturing and marketing of sponge iron, steel, ferro alloys, HR plates, rebars and structure profiles. It has two integrated steel plants in Raipur, Chhattisgarh and Raigarh, Chhattisgarh.[40]
  • MG Motor India, on 30 November 2023, China's SAIC Motor and the JSW Group formed a strategic joint venture, resulting in the latter gaining a 35% stake in MG Motor India through this partnership.[41][42]

Research and development

Philanthropy

JSW Foundation is the philanthropic arm of JSW Group, set up in 1987.[48] The foundation works in the field of education, skill building training, healthcare and social development domains. Besides that, the Foundation is actively involved in restoration projects, including the preservation and restoration of significant archaeological ruins like Hampi,[49] Mughal Gardens of Kashmir (Shalimar Bagh and Nishat Bagh),[50] Keneseth Eliyahoo Synagogue,[51][52] Maragondanahalli Lake in Bangalore,[53] David Sassoon Library,[54][55] Shiv Khori[56] etc.

COVID-19

In May 2020, right at the outset of the COVID-19 pandemic in India, JSW Group pledged more than ₹100 crore to aid the relief initiatives led by PM CARES Fund and other State governments in their battle against the COVID-19 crisis.[57][58]

During the second wave of COVID-19 pandemic in Karnataka in 2021, JSW Group established a temporary 1,000-bed COVID-19 hospital in Ballari, located near its township.[59] Also, the company installed a dedicated 5 km-long oxygen supply pipeline from its Vijayanagar steel plant to directly serve patients at the new hospital under construction. In a related effort, the group repurposed its multi-speciality Jindal Sanjeevani Hospital near Dolvi unit in Maharashtra to function as a COVID-19 treatment facility.[60]

References

  1. ↑ "JSW Cement raises Rs 400 cr via sustainability-linked loan from BNP Paribas". Business Standard.
  2. ↑ "Steel firms engage with vaccine makers for bulk supply of doses for employees". LiveMint. Retrieved 25 January 2021.
  3. ↑ "Won't give away control of JSW Steel: Sajjan Jindal: Rediff.com Business". Getahead.rediff.com. 6 July 2006. Retrieved 24 September 2010.
  4. ↑ www.ETEnergyworld.com. "JSW Steel: JSW Group is exploring investment opportunities in Macedonia, Energy News, ET EnergyWorld". ETEnergyworld.com. Retrieved 31 January 2023.
  5. 1 2 Singh, Pritam; Bhandarker, Asha (14 February 2011). In Search of Change Maestros. SAGE Publications. ISBN 978-81-321-0586-2.
  6. ↑ Parikh, Hiral; Desai, Devesh (2022). "A STUDY ON MAJOR STEEL COMPANIES OF INDIA". Towards Excellence. 14 (Special Issue 1). ISSN 0974-035X.
  7. ↑ "JSW Steel: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of JSW Steel - NDTV". www.ndtv.com. Retrieved 16 October 2023.
  8. ↑ "History of JSW Group". www.steelonthenet.com. Retrieved 16 October 2023.
  9. ↑ "JSW Energy > Company History > Power - Generation & Distribution > Company History of JSW Energy - BSE: 533148, NSE: JSWENERGY". www.moneycontrol.com. Retrieved 16 October 2023.
  10. ↑ Pillay, Amritha (29 September 2023). "JSW Group makes another attempt to scale-up cement, port business". Business Standard. Retrieved 16 October 2023.
  11. ↑ "JSW Steel to set up Rs 165 cr JV in Georgia". The Economic Times. 28 December 2007. ISSN 0013-0389. Retrieved 16 October 2023.
  12. ↑ Hotta, Fumitaka. "India's JSW Steel now making high-quality auto-use steel sheet". Nikkei Asia. Retrieved 16 October 2023.
  13. ↑ Ghosh, Sadhan Kumar; Parlikar, Ulhas V.; Karstensen, Kåre Helge (16 November 2021). Sustainable Management of Wastes Through Co-processing. Springer Nature. ISBN 978-981-16-6073-3.
  14. ↑ Gaur, Vatsala (18 May 2018). "JSW buys Italy's Aferpi". The Economic Times. ISSN 0013-0389. Retrieved 16 October 2023.
  15. ↑ John, Nevin (21 February 2020). "JSW to become India's largest steelmaker with Bhushan Power takeover". Business Today. Retrieved 16 October 2023.
  16. ↑ Gaur, Vatsala (2 May 2019). "JSW Paints aims at Rs 2,000 crore revenue over three years". The Economic Times. Retrieved 3 May 2019.
  17. ↑ Thomas, Tanya (2 May 2019). "JSW enters paints business with ₹600 crore investment". Mint. Retrieved 3 May 2019.
  18. ↑ "JSW Steel Italy acquires 31% in GSI Lucchini". BusinessLine. 14 April 2021. Retrieved 16 October 2023.
  19. ↑ "Construction work on ₹8,800-cr JSW steel plant begins in Andhra Pradesh". BusinessLine. 15 February 2023. Retrieved 16 October 2023.
  20. ↑ "JSW Steel, Japan's JFE to set up JV for manufacturing of CRGO electrical steel". cnbctv18.com. 2 August 2023. Retrieved 16 October 2023.
  21. ↑ "JSW Infrastructure to buy majority stake in PNP Port for ₹270 crore". The Economic Times. 5 December 2023. ISSN 0013-0389. Retrieved 8 December 2023.
  22. ↑ "Meet Sajjan Jindal, son of India's richest woman, MD of Rs 180000 crore company, their net worth is..." DNA India. Retrieved 12 June 2023.
  23. ↑ Anand, Saurav (6 July 2023). "JSW Steel crude steel production rises 11% to 6.43 million tonne in Q1". mint. Retrieved 9 July 2023.
  24. ↑ Bhattacharyya, Rica (14 August 2023). "Manufacturing majors look to hire more women engineers". The Economic Times. ISSN 0013-0389. Retrieved 19 August 2023.
  25. ↑ Carney, Michael; Dieleman, Marleen, eds. (2023). De Gruyter Handbook of Business Families. De Gruyter. p. 149. doi:10.1515/9783110727968. ISBN 9783110727968.
  26. ↑ Anand, Saurav (10 May 2023). "JSW Steel's crude steel production up 7% YoY in April". mint. Retrieved 9 July 2023.
  27. ↑ Kurup, Rajesh (30 March 2023). "JSW Energy completes acquisition of Mytrah Energy's RE portfolio". Financialexpress. Retrieved 9 July 2023.
  28. ↑ Baruah, Rituraj (7 April 2022). "JSW Energy starts operations at 225 MW Vijayanagar solar project". mint. Retrieved 31 January 2023.
  29. 1 2 3 4 John, Nevin (7 April 2023). "JSW Group: Life Beyond Steel". www.fortuneindia.com. Retrieved 20 May 2023.
  30. 1 2 "JSW in five-fold ramp-up at Jaigarh - Money - DNA". Dnaindia.com. 31 August 2009. Retrieved 24 September 2010.
  31. ↑ "JSW Companies. JSW Infrastructure Ltd". Jsw.in. Archived from the original on 27 September 2010. Retrieved 24 September 2010.
  32. ↑ Sreedhar, Vidya (3 October 2023). "JSW Infrastructure shares debut at 20% premium over IPO price". The Economic Times. ISSN 0013-0389. Retrieved 22 November 2023.
  33. ↑ https://www.bseindia.com/corporates/download/372774/DRHP_%20JSW%20Infrastructure%20Limited%20_09-05-2023_20230510205626.pdf
  34. ↑ Bureau, The Hindu (17 February 2023). "Karnataka Budget 2023-24: Greenfield ports at Keni and Pavinakurve in Uttara Kannada district under PPP, marina at Byndoor beach". The Hindu. ISSN 0971-751X. Retrieved 22 November 2023.
  35. ↑ "JSW Holdings: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of JSW Holdings - NDTV". www.ndtv.com. Retrieved 22 November 2023.
  36. ↑ "JSW Cement to invest ₹3,200 crore to set up 5 MTPA capacity in central India". The Hindu. 11 October 2022. Retrieved 13 December 2022.
  37. ↑ "JSW Ventures set to mark first close of new VC fund". VCCircle. Retrieved 13 December 2022.
  38. ↑ "Sajjan Jindal's Heavy Lifting". www.businesstoday.in. 5 August 2020. Retrieved 25 January 2021.
  39. ↑ Mishra, Mihir (10 April 2023). "JSW One Platforms to seek NBFC licence". mint. Retrieved 20 May 2023.
  40. ↑ "Steel sector slowdown likely to impact turnaround time for Monnet: Sajjan Jindal". 25 July 2019.
  41. ↑ "Sajjan Jindal-led JSW Group to hold 35% stake in MG Motor India". Business Today. 30 November 2023. Retrieved 1 December 2023.
  42. ↑ Bureau, BL Mumbai (30 November 2023). "JSW Group picks up 35% stake in SAIC Motors' India venture". BusinessLine. Retrieved 1 December 2023.
  43. ↑ "Five years after scrapping policy program, IIMA to launch JSW School of Public Policy". The Indian Express. 2 July 2015. Retrieved 26 September 2022.
  44. ↑ "IIM-Ahmedabad inaugurates JSW School of Public Policy's new building at campus". The Indian Express. 21 February 2023. Retrieved 22 November 2023.
  45. ↑ "New building of JSW School of Public Policy unveiled at IIMA new campus". The Indian Express. 21 February 2023. Retrieved 22 November 2023.
  46. ↑ "IIT Bombay, JSW Group tie up to establish tech hub for steel making". The Hindu. 18 August 2022. ISSN 0971-751X. Retrieved 26 September 2022.
  47. ↑ "JSW Technology Hub for Manufacturing of Steel (JSW-TH)". Indian Institute of Technology Bombay. Retrieved 22 November 2023.
  48. ↑ Sinha, Baxi C. V. & Ray, Rupamanjari (2012). Corporate Social Responsibility. Vikas Publishing House. ISBN 978-93-259-5764-0.{{cite book}}: CS1 maint: multiple names: authors list (link)
  49. ↑ Zielinski, Priyanka Gupta (26 April 2021). The Ultimate Family Business Survival Guide. Pan Macmillan. ISBN 978-93-90742-01-1.
  50. ↑ Aashiq, Peerzada (28 July 2021). "JSW Foundation to restore famous Mughal gardens in Kashmir". The Hindu. ISSN 0971-751X. Retrieved 12 June 2023.
  51. ↑ "Mumbai's 'Blue Synagogue' restored, but it's not blue anymore". The Indian Express. 8 February 2019. Retrieved 12 June 2023.
  52. ↑ "Little-known facts about Mumbai's newly restored Keneseth Eliyahoo synagogue - Elle India". Retrieved 12 June 2023.
  53. ↑ Nandakumar, Prathima. "This was how Bengaluru's Maragondanahalli lake was ecologically restored". The Week. Retrieved 12 June 2023.
  54. ↑ "David Sassoon Library opens to public after restoration; see pics". The Indian Express. 3 June 2023. Retrieved 9 July 2023.
  55. ↑ Mrityunjay, Bose (2 June 2023). "David Sassoon Library in Mumbai restored". Deccan Herald. Retrieved 9 July 2023.
  56. ↑ PTI (29 March 2023). "MoU signed for development of facilities at Shiv Khori in J-K's Reasi". ThePrint. Retrieved 22 November 2023.
  57. ↑ "JSW Group commits ₹100 cr to fight Covid-19". BusinessLine. 29 March 2020. Retrieved 28 September 2023.
  58. ↑ Commander, Simon; Estrin, Saul (27 October 2022). The Connections World: The Future of Asian Capitalism. Cambridge University Press. ISBN 978-1-009-18828-9.
  59. ↑ Dilipkumar, Bhavya (19 May 2021). "JSW Group opens a 1000-bed Covid Care Medical Facility in Ballari, Karnataka". The Economic Times. ISSN 0013-0389. Retrieved 28 September 2023.
  60. ↑ "JSW Steel to set up 1,000-bed Covid hospital at Bellary". BusinessLine. 12 May 2021. Retrieved 28 September 2023.
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