JSW Steel is India’s leading and one of the world’s most efficient integrated steelmakers. We are progressing responsibly across markets with innovation, digitalisation and sustainability as our key anchors. With efficient integrated operations and a clear vision for the future, we are executing our strategic growth plan in line with India’s increasing appetite for steel, to drive its sustainable development story.

We are a reliable partner in nation building. We are JSW Steel.

FY 2021-22 Highlights

  • Financial
    Highlights
  • Operational
    Highlights
  • ESG
    Highlights

Financial Highlights

83% y-o-y

`1,46,371 crore

Consolidated revenue from operations*

94% y-o-y

`39,007 crore

Operating EBITDA

166% y-o-y

`20,938 crore

PAT

`1,19,280 crore

Economic value distributed

`27,090 crore

Economic value retained

30%

Return on Capital employed

*Economic value generated

Operational Highlights

29% y-o-y

19.51 MnT

Crude steel production

21% y-o-y

18.18 MnT

Saleable steel sales

 

89%

Avg. capacity utilisation*

*(Including Dolvi expansion of 5 MTPA)

 

32.13 MnT

Total iron ore utilised (for ISPs)

61% y-o-y

`21,454

EBITDA/tonne of sales#

#(Sales quantity includes JSW Steel, JSW Steel Coated Products Limited, Bhushan Power and Steel Limited (post becoming subsidiary) and JSW USA)

 

60%

Sales of value-added and special products (VASP)

`171 crore

Cost savings from digitalisation

$136

Conversion cost per tonne**

**Standalone

43%

Iron ore from captive mines

ESG Highlights

2.50 tCO2/tcs

GHG emissions intensity (Scope 1&2)

~218 crore*

CSR spend

*Consolidated CSR spends for the year

100%

Board committees chaired by independent directors

3.77 MnT

Material recycled

100%

Waste utilised

16,538.55 (000’m3)

Water reused and recycled

Bigger
01

Doubled capacities in the past 6 years

02

A partner of choice in India’s development story; working towards building an ‘Aatmanirbhar Bharat’

03

Driving capacity expansion across facilities

  • Dolvi’s capacity doubled from 5 MTPA to 10 MTPA
  • Setting up 0.5 MTPA continuous Annealing Line at Vasind and second Tinplate line of 0.25 MTPA at Tarapur (4.11 MTPA post expansion capacity of JSW Steel Coated Products Ltd.)
  • Setting up a 5 MTPA steelmaking capacity in Vijayanagar
  • Announced as a preferred bidder for an iron ore mine in Maharashtra
  • New colour coating lines being set up in J&K and Rajpura, Punjab
Better
01

Significant progress on our strategic priorities

02

Advancing on our digital journey with Industry 4.0, undertook 200+ digital initiatives

03

Maintaining one of the lowest conversion costs

04

Enabling efficient operations with protection from volatility of input costs, commodity prices, control over costs and margins

05

Stood as the largest Indian steel exporter during the pandemic

06

Mr. Sajjan Jindal, Chairman and Managing Director of JSW Steel, appointed as the Chairman of World Steel Association

07

Salem Steel Works became the first steel plant in the world to receive British Safety Council’s Five-star rating

Cleaner
01

Performing well against all ESG priorities

02

Recognised as the worldsteel Sustainability Champion for the fourth consecutive year

03

Investing significantly (₹10,000 crore) to reduce carbon emission from steel manufacturing

04

Transitioning to low emission steel production cycle

05

Robust ESG roadmap to achieve targets by 2030

06

Entered the S&P DJSI Sustainability Index 2021 for Emerging Markets

07

Maintained Leadership level (A-) in CDP climate change programme

08

First steel company in the world to issue USD-denominated Sustainability Linked Bonds

09

Providing transparency to customers through product
eco-labelling - EPDs (Environmental Product Declaration) of all finished steel products and CII GreenPro certification for rebars, based on lifecycle analysis

10

Implemented an EV policy for employees to influence consumer behaviour in decarbonising the transport sector

MESSAGE FROM CHAIRMAN AND MANAGING DIRECTOR

A confident and
sustainable future for
all

Dear Stakeholder,

The year 2022 is a momentous one for India, as the country prepares to commemorate 75 years of its journey as an independent and progressive nation. What makes this present time even more special is that India finds itself on a springboard for rapid growth that will enhance its economic standing in the global order.

Sajjan Jindal

Chairman and Managing Director

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MESSAGE FROM JOINT MANAGING DIRECTOR AND GROUP CFO

Championing growth,
nation building and
sustainability

Dear Stakeholder,

As I write to you, the world is shaken by rising inflationary pressure and experiencing economic instability. On one hand, the worst of the pandemic seems to be behind us. On the other hand, escalating geopolitical tensions, inflation woes and lingering supply chain issues are an overhang on the global economic growth.

Seshagiri Rao MVS

Joint Managing Director and Group CFO

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FINANCIAL PERFORMANCE

Propelling growth with
robust financials

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Safety and performance

Reiterating commitment
to ‘Zero Harm’

Highlights FY 2021-22

0.32

LTIFR - 0.28 Target for FY 2022-23

5.6 Lakhs+

Safety Observations

1,78,000+

Corrective and Preventive actions (CAPA) implemented

28,500+

e-learning modules on safety completed

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What DOes clIMATe chANGe MEAN FOR STeel?

Decarbonising
steelmaking for a
better world

Steel is essential to every aspect of our life. Steel is also one of the most sustainable materials and essential for climate change adaptation. However, steelmaking is a hard to abate process, contributing to emissions aggravating climate change. The global steel industry is adapting to the changing realities with technology-led innovation and participating to mitigate climate change.

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Strategic priorities

Progressing on our
six focus areas

At JSW Steel, we realise our #BetterEveryday proposition through six well-established strategic
focus areas. These areas were delineated after careful consideration of our material issues, growth
imperatives, and internal and external drivers of growth. In FY 2021-22, we significantly progressed
on these areas through targeted initiatives and delivered on all key performance indicators.

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Strategic growth

Expanding our installed capacity through organic and inorganic routes to capitalise on opportunities and align with India’s growth story

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Diversification of product profile and customer base

Innovating and offering value-added and differentiated products with a strong branded portfolio

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Backward integration and raw material security

Securing raw material supply through captive mines, long-term contracts, and an efficient supply chain

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Focus on resource optimisation and digitalisation

Achieving cost efficiency and maximising resource utilisation through varied interventions across operations and led by digitalisation

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Prudent financial management

Maintaining an optimal capital mix and diversifying our debt profile while powering our growth ambitions

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Mainstreaming sustainability in business imperatives

Embedding good governance and economic, environmental, and social sustainability into everything we do to create value for our stakeholders

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About JSW Steel

Making steel
sustainable everyday

JSW Steel is India’s leading integrated steel manufacturer with a resolute
focus on making sustainable steel, enabled by agile innovation,
best-in-class technology adoption and digitalisation.

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OPERATIONAL PRESENCE

Expanding our geographic reach

1

Vijayanagar Works (ISP)

Key products
Hot Rolled (HR), Cold Rolled (CR), Galvanised (GI) and Galvalume (GL), wire rods, TMT, slabs, billets

Capacity

12 MTPA crude steel, expanding by 7.5 MTPA additional capacity by FY 2024-25

Highlights

  • World’s sixth largest steel plant
  • India’s largest single-location and most productive steel plant
  • Awarded Deming Prize for operational excellence in 2018
2

Dolvi Works (ISP)

Key products
HR, TMT, billets

Capacity

10 MTPA crude steel

Highlights

  • Strategically connected to a 30 MTPA capacity jetty
  • Setting up 175 MW Waste Heat Recovery Boilers (WHRB) and 60 MW power plants to harness flue gases and steam from coke dry quenching
3

Salem Works (ISP)

Key products
Wire rod, alloy long products, billets/blooms

Capacity

1 MTPA crude steel

Highlights

  • India’s largest special alloy steel plant
  • Awarded Deming Prize for operational excellence in 2019
4

Bhushan Power and Steel Ltd. (BPSL)

Capacity

2.5 MTPA crude steel

216 MnT

Karnataka iron ore reserves

1,135 MnT

Odisha iron ore reserves

31.62 MnT

Captive iron ore production in FY 2021-22

5

Salav Works

Key products
Direct Reduced Iron (DRI)/Hot Briquetted Iron (HRI)

Capacity

1.0 MTPA

Highlights

Specialised in offering reduced iron and briquetted iron products

6

Vasind Works

Key products
GI/GL, colour-coated products

Capacity

1.32 MTPA

Continuous annealing line

of 0.5 MTPA to be set up by FY 2022-23

Highlights

India’s largest exporter of colour-coated products for the appliances industry

7

Kalmeshwar Works

Key products
GI/GL, colour-coated products

Capacity

0.95 MTPA

Highlights

India’s first GI and colour-coated steel plant

8


Tarapur Works

Key products
GI/GL, colour-coated products, tin plate

Capacity

0.73 MTPA of GI/GL, 0.25 MTPA of Tin plate

Highlights

India’s largest exporter of coated products to Europe, Africa, North and South Americas, and the Middle East

9

JSW Ispat Special Steel Products Ltd.

Capacity

1 MTPA Crude steel Crude steel, HR plates, rebars, special steel

(JISPL and its holding company Creixent Special Steels Ltd. are proposed to be merged into JSW Steel Ltd.)

10


Anjar Works

Capacity

1.2 MTPA

Steel plates and coils

(formerly known as Plate and Coil Mill Division of Welspun Corp)

11

JSW Vallabh Tinplate Pvt. Ltd.
(JSWVTPL)

Capacity

0.1 MTPA

Key products
Tin plate

12

Vardhman
Industries Ltd. (VIL)

Capacity

40,000 tonnes (per annum)

Key products
Colour-coated products

13

Asian Colour
Coated Ispat Ltd. (ACCIL)

Capacity

1 MTPA Steel plates and coils

Key products
HRPO, GI/GL and colour-coated products

1

JSW Steel USA (Ohio)

Capacity

1.5 MNTPA Crude steel

Finishing capacity

3 MNTPA

2

JSW Steel USA (Baytown)

Capacity

1.2 MNTPA Plate mill

Capacity

0.55 MNTPA Pipe mill

3

JSW Steel Italy (Piombino)

Finishing capacity

1.3 MTPA

Key products

Rails, wire rods, bars and grinding balls

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Environment
Social
Governance
Environment

Greener and cleaner, every day

As a responsible corporate citizen, we are aware of the importance of a safe and clean environment to protect the unique ecosystems that sustain us.

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Social - Employees

Social - Employees

Nurturing our biggest strength

We are a people-centric organisation and the well-being of our people is of utmost importance to us. Their dedication and relentless efforts have been our core drivers of growth.

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Social Sustainability

Social Sustainability

Focus area

Driving Meaningful Change

Change that enables. Change that transforms.

In alignment with our Group philosophy of ‘Better Everyday’, we continue to deliver on our responsibilities towards our communities with utmost sincerity.

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Supply Chain Sustainability

Supply Chain Sustainability

Focus area

Engaging with responsibility

Our suppliers and business partners are very integral to our business success. They are one of our core stakeholders who ensure that our business operations run seamlessly.

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Governance

Governance

Guided by values. Powered by vision.

We have devised a robust governance framework which rests on the twin pillars of transparency and integrity. We are led by a distinguished and experienced Board.

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Supply Chain Sustainability

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Full Integrated Report 2021-22

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