JSW Steel Integrated Report 2022-23

GROW

Strategic growth with efficient
capital allocation

Progress highlights

Approved capex of ₹61,863 crore over the next 3 years for augmenting steelmaking and downstream capacities, efficiency projects, raw material security and decarbonisation.
On track to add 7 MTPA domestic capacity by September 2027; and reach 50 MTPA by FY 2030-31.

Cost leadership through resource optimisation and improved raw material security

Progress highlights

Lowest conversion cost globally at US$132/tonne (Standalone basis).
Internationally, completed the acquisition of a 20% stake in the Illawarra metallurgical coal mines in Australia.
Access to more than 1.2 BnT of iron ore across mines in Karnataka, Odisha, Goa and Maharashtra.
Secured access to three captive mines in Eastern India and also have established a 15-year, 2 MTPA raw coking coal linkage (~0.9Mt of clean coal) with Coal India. We have also acquired the rights to operate the 2 MTPA Dugda washery.
In Mozambique, we are in the process of acquiring 100% of the Minas de Revuboè (MdR) deposit which hosts a large untapped reserve of coking coal.

Value-added product portfolio with innovation and R&D

Progress highlights

100 products/grades approved in FY 2024-25.
Maintained VASP share in overall sales mix at >50%; 62% VASP share in FY 2024-25 (excluding JVML volumes).
Commissioning of the 0.12 MTPA colour coating line at Jammu & Kashmir.
Acquisition of Thyssenkrupp Electrical Steel India Private Limited, first manufacturers of grain-oriented electrical steel (GOES) in India with a manufacturing capacity of 50,000 tonnes per annum.
Strategy to take advantage of the first mover in CRGO manufacturing in India and establish market leadership. As a part of strategy, the new facility at Vijayanagar is now proposed to be set up with a capacity of 1,00,000 tonnes per annum instead of 62,000 tonnes per annum.
Approval for setting up 0.6 MTPA Cold Rolling Mill complex, pickling line, GI/GL line and Zero spangle line at Khopoli, Maharashtra.
Letter of Intent received from Committee of Creditors for acquisition of Colour Roof (India) Limited. CRIL has a colour coating line of 84,000 tonnes per annum, and a pre-coated metal profiling facility of 64,950 tonnes per annum.
R&D initiatives – Improving recovery at BHQ pilot plant.
Patents received for 20 R&D initiatives.

Being future-ready through technology-led transformation and digitalisation

Progress highlights

Reduction in 25,000+ hours unplanned downtime and maintenance costs.
Digitalisation driving End-to-End Transformation.
- Grow Revenue – Digital sales and marketing.
- Reduce cost and improve throughput – Digital mining operations, smart factory and digital supply chain and logistics.

Strong financial profile and ratings

Progress highlights

Sale of 30 MTPA under construction slurry pipeline business to JSW Infrastructure Limited to focus on core steel growth projects to optimise capital allocation.
Credit Ratings
- Moody’s: Ba1 (Stable)
- Fitch: BB (Stable)
- ICRA: AA (Stable)
- CARE: AA (Stable)
Access to diverse liquidity streams, backed by robust partnerships with leading domestic and global banks/ financial institutions.

Mainstreaming sustainability across the businesses

Progress highlights

Steel Sustainability Champion for the 7^th consecutive year.
Received Responsible Steel certification for four plants covering 80% of our steel production.