Several steel companies have emerged in India over the years and the list of top steel companies in India is growing day by day. There are some companies that have managed to make a mark in the industry and the list includes companies like Essar Steel, Tata Steel, Balmukund concast ltd, Welspun Corp. and others.
Tata Steel
Founded in 1907, Tata Steel is one of the top steel companies in India. With business presence in 26 nations, it is one of the leading integrated steel producers in the world. The company has the ability to produce steel independently or through captive mines, which helps it in sourcing raw materials at the lowest cost.
Tata Steel’s main operations include steel manufacturing, raw material procurement, and distribution. It is one of the world’s largest producers of low-cost steel. The company’s operations are based in India, the United Kingdom, Canada, and the Netherlands.
Tata Steel has a total consolidated capacity of over 20 million tons per year. The company produces a wide range of steel products, including steel pipes, rods, bars, wire rods, and tubes. It also manufactures hot and cold rolled coils, bearings, and wires.
Tata Steel’s primary operations include manufacturing facilities in India and Canada. Tata Steel operates manganese mines in Jharkhand, Odisha, and Gujarat. The company has captive mines in India that supply almost all of the iron ore the company uses. It imports most of the rest of the raw materials.
Essar Steel
ESSAR Steel is one of the leading steel manufacturing companies in India. This company was founded by O.P. Jindal in 1952. Over the years, Essar has developed a range of products that cater to different industries. This company has gained a reputation for providing quality flat carbon steel products.
This company has gained its strength through strategic global acquisitions. It has been able to strengthen its position in the crowded steel consuming markets in Asia. This company has a strong foothold in Europe and the United States as well.
Essar Steel has developed a strong distribution network for its steel products. It delivers to over 100 countries on five continents. The company has the capacity to produce over 18 MTPA through its factories. It has a downstream complex in Indonesia with a capacity of 0.4 MTPA.
Essar Steel is a member of the World Steel Association (WSA). It is also one of the world’s most sustainable companies. It has achieved a benchmark of zero waste. It also has a rainwater harvesting facility. This company has also invested heavily in in-house research.
Jindal Steel and Power
JSPL Limited is a leading steel and power company in India. It is a part of the diversified O P Jindal Group, with a total turnover of over USD 22 billion. This group has diversified into a variety of products like steel, diamonds, high value metals, petroleum, and aviation.
It is one of the largest stainless steel conglomerates in the world. It is estimated that its crude steel capacity is around 1.9 MTPA. The company is working on a strategy of forward integration. JSPL has a fully integrated stainless steel plant.
JSPL is the flagship company of the O P Jindal Group. The company is headquartered in New Delhi. It has three segments: Steel, Power, and Others.
The company is involved in the production of power, steel, and other infrastructure services. It has established firm foundations in Indonesia, Namibia, Australia, and Botswana. It has also diversified into mining and natural gas. It has operations in Senegal.
Balmukund concast ltd
Among the many steel companies in India, Balmukund Concast Ltd is one of the reputed and reputed names. The company is a leading manufacturer of Mild Steel Rods and Mild Steel Ingots. In addition, the company also offers TMT Bars and M.S. ROD. The company has a team of experts and a rich portfolio of products and services.
The company also has a large number of employees and is engaged in the manufacture and supply of various types of hardware and software. The company has a National Industrial Classification (NIC) code of 72100. The company is headquartered in Kolkata. It has a number of subsidiaries and offices across India. The company also has a presence in various countries including Malaysia, Sri Lanka, Bangladesh, China, Vietnam, Thailand and Indonesia.
The company also provides a number of value added services such as consultancy, design, engineering, procurement, supply, construction and installation. The company has won accolades from a number of reputed infrastructure companies. The company also has a robust and cost effective service model that has a track record of delivering quality products at affordable prices.
Uttam Galva Steel
Founded by Rajendra Miglani, Uttam Galva is a steel company that produces cold rolled steel. The company also manufactures galvanized steel and color coated products. The company is based at Khopoli in Maharashtra.
Uttam Galva’s total production capacity is about 1.2 million tons per year. It has one twenty Hi mill and two four-hi mills. It also has three modern galvanizing lines. The company is also involved in the development of different steel grades. The company has won the Award for Export Excellence for the last 11 consecutive years.
Uttam Galva is part of the corporate insolvency resolution process. It is a subsidiary of ArcelorMittal, a global steel manufacturer. It was formed in 1985. As of 31 March, it had a debt-to-equity ratio of 2.84 times.
As of March 31, 2019, the company had a debt of Rs 4,922 crore. The company is in the process of settling its debt with lenders. It is one of the largest steel companies in India. It has manufacturing facilities at Khopoli, about 75 km from Mumbai.
Mahindra Ugine Steel
Founded as part of the Mahindra Group in 1962, Mahindra Ugine Steel has the capacity to produce 1.8 lakh tonnes of steel every year. The company manufactures high grade alloy steels, mainly for the automotive industry. In 2010, the steel division contributed 765 crore to the company’s turnover.
The company is certified for ISO 14001:2004 and TS 16949. In addition, it is a member of the World Resources Institute India. It has also joined the United Nations Global Compact.
The company has plans to double its steel business to Rs 1,400 crore in three or four years. It will diversify its portfolio into niche applications, such as oil and gas, while strengthening its marketing and sales of Indian alloy steel.
The company recently signed a joint venture agreement with Sanyo, a Japanese steel company. Sanyo will provide technical assistance to Mahindra Ugine. It is expected that the cost of production will go down by eight to 10 percent.
Welspun Corp
Among the best steel companies in India, Welspun Corp is known for its state-of-the-art welded line pipe manufacturing facilities. The company offers high-grade line pipes in a variety of sizes. It also provides a wide range of ancillary services including ID Machining, Dump Site & Inventory Management, and Pipe Bending. Welspun is also the preferred supplier to many Fortune 100 companies in the oil & gas sector.
Welspun’s largest market is the Middle East. The company has a strong presence in the oil industry, with facilities in the Kingdom of Saudi Arabia, and in the USA. The company also has strong international connections, including new offices in Dubai and Europe. It also has a presence in the bath rug industry with 76% interest in Portugal’s Sorema. The company’s enterprise value is over Rs 600 million.
Welspun Corp is also known for its innovative product offerings. Its Plates and Coils Division has the highest market share in India, while its Wind Tower Division is gaining traction internationally.
Maharashtra Seamless Ltd
Founded by the D P Jindal group, Maharashtra Seamless Limited is a leading manufacturer of seamless steel pipes in India. The company offers seamless alloy steel, carbon steel, mild steel and galvanized pipes and tube. It also provides coated pipes and fusion bonded epoxy coated pipes. The company’s products are used in oil and gas, bearing, automobile and other industries.
The company has commissioned a new state-of-the-art manufacturing facility near Mangaon in Maharashtra. The facility has the capacity to manufacture high-thickness seamless pipes. The facility is equipped with MPM technology, which provides a higher yield and good quality.
The company has also entered into a technical collaboration agreement with Mannesmann Demag Huttentechnik, Germany. This technological breakthrough will enable the company to manufacture a variety of new products. The new plant will also be able to increase its pipe capacity from the present 3,50,000 tons per year to 5,00,000 tons per year.
The company also has plans to expand its seamless pipe capacity to a million tons per year. It has recently acquired a stake in an iron ore mine in Brazil.
Vizag Steel
Among the largest steel producers in the world, Vizag Steel is a 100% Indian Government undertaking. The company is located near the port city of Visakhapatnam. It is also the first PSE to be certified with ISO 9001:2008 and ISO 50001:2011. It caters to a variety of industrial sectors.
Originally, the Vizag Steel plant was a joint venture between the Steel Authority of India Limited (SAIL) and the USSR. The facility was built using German and USSR technology. In April 1982, it was transferred to the ownership of the RINL.
In the years to come, the company has become a major producer of long products and is now a market leader in the steel industry. However, due to the COVID-19 pandemic, the demand for steel has decreased dramatically. The company is also facing cost competitiveness issues.
In late 2018, preliminary discussions with Hyundai were held. This led to RINL signalling its ambition to begin flat-rolled steel production in the near future.