Now Reading: Jindal Stainless profit up 7.6 pc, plans Rs 40,000 cr plant
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Jindal Stainless profit up 7.6 pc, plans Rs 40,000 cr plant
Jindal Stainless reported a 7.6 per cent rise in net profit to Rs 769 crore for the June quarter, with revenue up 10.5 per cent to Rs 11,279 crore. The company cited…
The Story in Brief
Jindal Stainless reported a 7.6 per cent rise in net profit to Rs 769 crore for the June quarter, with revenue up 10.5 per cent to Rs 11,279 crore. The company cited strong demand from automotive, infrastructure, and consumer sectors, though supply chain pressures persisted. Exports remained stable at 11 per cent of sales.
Separately, Jindal Stainless is scouting a site in Maharashtra for a proposed Rs 40,000-crore stainless steel plant with a capacity of 4 million tonnes per annum. CEO Tarun Khulbe said land acquisition clarity may come in one or two quarters. The facility will produce specialised steel for hydrogen, nuclear energy, and defence. The Maharashtra government has promised fast approvals and fiscal incentives.
The Indian Opinion
The company’s cheer over rising profit and a massive expansion plan must be weighed against the slow land acquisition in Maharashtra, still one or two quarters away, says its CEO. The narrative of ‘Make in India’ momentum often skips the real bottleneck: state-level land and clearance delays. Whether Maharashtra delivers on its promise of fast approvals will be the real test. If the first phase is not operational in four years, the grand plan will ring hollow.
Sources (2): thehindu.com, economictimes.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
