Steel Companies in India are growing year on year due to the demand in various sectors, including exports. The main reason we can say the rapid growth of population and consumption.
After China, India is the 2nd largest steel producer in the world it has beaten Japan in the rankings and moving forward.
Steel is having demand in 3 main sectors in India: Infrastructure, Real Estate, and Automobiles.
China though it is the largest producer of steel, there is a huge mismatch with the demand and supply, this opportunity can be utilized by Indian steel companies.
Indian prime minister Narendra Modi has announced to build 100 smart cities in India, just think how much steel needed and the opportunities we have.
We are using steel in our everyday life from the Spoon, Hammers, Construction, Steel Bridges, and Air Ports, to big structures like Sardar Vallabh Bhai Patel Statue, etc… Just see around you while reading this post, you’ll find some or other material made up of steel.
Today let us see the top 10 steel manufacturing companies in India that help you to know the Industry better and even help you in your business.
10. Ferro Alloys Corporation Limited (FACOR Steel)
FACOR Group started production of steel through the company name Ferro Alloys Corporation Limited. It is one of the popular steel manufacturing companies which was founded in 1956, the headquarters located in Nagpur, Maharashtra.
This company was founded by the Late Sri Durgaprasadji Saraf, who strived to make this company big. FACOR Steels Ltd is a leading manufacturer of carbon, alloy, stainless and special steel in central India with a diverse and extensive product line, that features state-of-the-art steel processing and quality control technologies.
9. Mahindra Ugine Steel
Mahindra Ugine Steel is a manufacturer of specialty steel products and a subsidiary of Mahindra Group. The company was founded in the year 1962 and its headquarter is located in Mumbai, Maharashtra.
It serves national and multinational customers, as well as the government in the fields of power generation, railways, defense, etc. It supplies steel products to automobile manufacturers and component suppliers for crankshafts and connecting rods. It supplies steel to the oil and gas sectors for well-bottom applications.
8. Rashtriya Ispat Nigam Limited (RINL)
Rashtriya Ispat Nigam Limited, one of the most profitable ventures of the Indian government, has manufactured excellent steel since its creation in 1982. It is also known as Vizag Steel since its headquarter is in Visakhapatnam.
RINL operates a steel plant with a capacity of 7.3 million tons per year in Visakhapatnam. During the initial days, the company suffered huge losses. Later, profits increased by 200%, which makes it the only steel industry to achieve this goal.
Its annual capacity is expected to reach almost 7.5 million tons by 2020. RINL plans to invest Rs 60,000 million ($ 8.7 billion) to increase this capacity. 20 million tons by 2027.
7. Bhushan Steel Limited
Bhushan Steel is the largest manufacturer of auto-grade steel founded in 1987 by Brij Bhushan Singal and the headquarter is located in New Delhi.
If you have driven a car manufactured by Hero Motocorp, Maruti Suzuki, or Mahendra, you can notice Bhushan Steel’s work. Because the steel used in those cars is by the same company, many essential parts of the car have been built.
Their products have been used by many top leading companies such as LG, Godrej, and Whirlpool, etc. Just by the customer list, we can figure out the product quality and brand.
6. Essar Steel
Essar Steel is another famous steel company in India and it is a part of Essar Group. It was founded in 1998 and the headquarters located in Mumbai, Maharashtra. It has a huge customer base not only in India, but it also spread across Asian countries and North America.
Essar Steel also produces a wide variety of steel-based materials, such as plates, pipes, welded steel, and beams. The company generates an exceptional profit margin and earns almost $3 billion a year.
5. VISA Steel
VISA Steel is one of the main players in the Indian steel industry. It was started in 2003 and the headquarters based in Kolkata, West Bengal.
VISA Steel established a steel plant in Odisha, ensuring that iron ore and coal mines in captivity would be allocated according to the MOU signed with the Government of Odisha. Captive iron ore and coal mines would have ensured the long-term supply of raw materials at a reasonable EBITDA margin.
VISA Steel mainly deals with 2 types of products. First, steel bars and wire bars, which are used in various construction works. Second, ferrochrome used to make stainless steel products.
4. Jindal Steel and Power Limited
Om Prakash Jindal founded the company Jindal Steel and Power Limited in 1952 and the headquarter is located in New Delhi.
The company has won several awards for its innovative commercial and social practices. JSPL has been rated as the second largest value creator in the world by Boston Consulting Group, the 11th fastest growing Indian company by Business World, and is on the Fab 50 list of Forbes Asia Group.
It has also been named one of the best Blue Chip companies and ranked as the creator of the greatest wealth by the Dalal Street Journal. JSPL also established in different locations like Africa, Australia, Indonesia, and Oman.
3. Jindal South West Steel (JSW)
JSW Steel is one of the leading steel manufacturers which is a subsidiary of the JSW group. Sajjan Jindal founded this company in 1982, and its headquarters is located in Mumbai, Maharashtra.
Since its modest beginnings in steel, the JSW group has expanded its presence in India, South America, South Africa, and Europe. Through its CSR projects, it also continues to participate and launch activities that help improve the areas of our country that do not have sufficient resources.
It contributed to the beauty of various infrastructures like the Yamuna Expressway, Hyderabad Metro, and the Mumbai T2 Airport.
2. Steel Authority of India Limited (SAIL)
SAIL is the largest steel company in India founded in 1954, the headquarters is located in New Delhi. It is a public sector undertaking, owned and operated by the Government of India.
SAIL operates and owns 5 steel plants integrated at Bhilai, Rourkela, Durgapur, Bokaro, and Burnpur (Asansol), and 3 special steel plants in Salem, Durgapur, and Bhadravathi.
It also has a ferroalloy factory in Chandrapur. As part of its global ambition, the company is embarking on an important expansion and modernization program, which involves modernizing and building new facilities with a focus on the latest green technologies.
SAIL never cares whether the work is small or big, it tries to ensure producing quality steel to the customers.
1. Tata Steel Limited
Tata steel is an Indian MNC and also a subsidiary of Tata Group which was founded in 1907 and its headquarters is located in Mumbai, Maharashtra.
Tata Steel operates in 26 countries and has key operations in India, the Netherlands, and the United Kingdom, and employs approximately 80,500 people. It is the largest plant (with 10 MTPA capacity) located in Jamshedpur, Jharkhand.
Tata Steel primarily serves customers in the automotive, construction, consumer goods, engineering, packaging, lifting and excavation, energy and aerospace industries, shipbuilding, rail and defense, and security sectors.