With a production range of more than 100 MT (million tons) per year, the Indian steel industry is the world’s third largest producer of crude steel. Undoubtedly, Indian government’s focus on infrastructure projects has given a major boost to this industry. Friendly regulations have provided Indian steel companies an edge over their MNC competitors.
Read: How APAC is driving the Global Steel Casting Market
Technavio’s industry research report indicates a decent growth curve for the Indian steel industry. Herein, we compile a list of the top 12 companies in this sector that are likely to dominate in 2018, and beyond!
2018: Top 12 Vendors in the Indian Steel Industry
1. SAIL
HQ: New Delhi
Ownership: Public Sector Enterprise
Revenue/FY 2017-18: Rs. 58,042.91 Crores
Subsidiaries: NSPCL, Mjunction, S&T Mining Company, Salem Steel Plant, Bhilai Oxygen, etc.
The public-sector undertaking has been playing a major role in revolutionizing the steel industry in India. With an expansive portfolio, SAIL is the largest steel producer in India, and one of the biggest steel companies in the world.
Latest Projects:
- The company supplied 10,500 tons of steel for the 330 Megawatts (MW) Kishanganga Hydroelectric Power Project in J&K.
- SAIL is supplying TMT rebars, plates and structurals for the Eastern Peripheral Expressway.
2. Tata Steel
HQ: Mumbai
Ownership: Public Sector Enterprise
Revenue/FY 2017-18: Rs. 59,924.45 Crores
Subsidiaries: Tata Steel Europe, Catnic, Abja Investment, Corus Engineering Steels, etc.
A subsidiary of the Tata Group, apart from India, Tata Steel runs its operations in 26 other countries. The second largest steel company in India, Tata Steel has an annual capacity of 13 million tons. Recently, the company bagged the prestigious Dun & Bradstreet Corporate Award 2018 in the ‘Iron and Steel’ category for the fourth consecutive year.
3. JSW Steel
HQ: Mumbai
Ownership: Public Sector Enterprise
Revenue/FY 2017-18: Rs. 71,503 Crores / US$ 11 billion
Subsidiaries: Ispat Steel Ltd.
JSW Steel is part of the O.P. Jindal Group, one of India’s top business houses. With a capacity of 18 MTPA, JSW Steel is one of the leading integrated steel manufacturers in the country. Its consolidated sales for FY 2018 stood at 15.5 million tons, an increase of 6% YoY.
4. Essar Steel
HQ: Mumbai
Ownership: Public Sector Enterprise
Revenue/FY 2016-17*: Rs. 15, 340 Crores
An integrated steel producer, Essar Steel has an annual production capacity of 10 MT. The company has the largest downstream capabilities in India, and a 0.4 MTPA downstream complex in Indonesia as well. In FY 2017-18, production exceeded 6 million tons of crude steel and deliveries were marked at 5.8 MT, the best numbers for Essar ever!
Essar steel is the first Indian steel company to offer special grade steel to a wide range of application in land and naval defense system. The company also holds the distinction of having the only hot rolled skin pass facility to produce the finest and most uniform coils.
*Latest available data as the company is unlisted.
5. Vizag Steel
HQ: Visakhapatnam
Ownership: Public Sector Enterprise
Revenue/FY 2017-18: Rs. 16, 500 Crores
Subsidiaries: RINMOIL, Eastern Investments Limited.
A corporate entity of Visakhapatnam Steel, RINL is India’s first shore based integrated steel plant. With a sales turnover of more than Rs. 12,000 crores the company is playing a critical role in expansion of the infrastructure of the country.
Joint Venture: In 2009, RINL and MOIL entered a JV with a share holding pattern of 50:50. Now known as RINMOIL, the organization works towards meeting the uninterrupted requirement of Ferro alloys for quality steel production by RINL.
6. Bhushan Steel
HQ: New Delhi
Ownership: Private
Revenue/FY 2016-17*: Rs. 2,993.98 Crores
The largest producer of auto-grade steel in India, Bhushan Steel ranks third on the secondary steel producer list in the country. Its products include Hot Rolled Coil, CRCA, CRFH, Galvanized Coil and Sheet, Galume Coil and Sheet, Color Coated Coils, Color Coated Tiles, High Tensile Steel Strips, Hardened & Tempered Steel Strips, Precision Tubes, HFW/ERW Pipe (API Grade), 3LP Coated Pipes, Billets and Sponge Iron. Bhushan Steel also has the distinction of operating the the only Cold Rolled steel plant in India.
*Latest available data
7. Mesco Steel
HQ: Bhubaneswar, Odisha
Ownership: Private
Revenue/FY 2016-17*: Rs 2,835.44 Crores
Incorporated in 1992, MESCO Steel is the first company from the Indian steel industry to have a technical collaboration with China’s Sino Steel. At present, the company operates two blast furnaces at Kalinga Nagar, Odisha, with a production of 1200 tons of hot metal per day.
*Latest available data
8. Facor Steel
HQ: Nagpur,
Ownership: Private
Revenue/FY 2016-17*: Rs 611.44 Crores
A leading manufacturer of Carbon, Alloy and Stainless Steel, Facor Steel was established in 1956. It is now a leading alloy steel producer in the Indian steel industry and has been successful in exporting special stainless-steel products all over the world, with a particular focus on developed countries. The company lists prominent names in the automobile, railways, defence and engineering sectors as clients.
*Latest available data
9. Mahamaya Steel Industries
HQ: Raipur, Chhattisgarh
Ownership: Private
Revenue/FY 2016-17*: Rs 254.87 Crores
Associate Companies: Mahamaya Ispat Ltd, Devi Iron and Power Ltd and Shree Shyam Sponge
Incorporated in 1988, Mahamaya Steel boasts of an annual production capacity of 355,000 metric tons of structural steel. The company has a turnover exceeding 1000 crores, and it mainly specializes in sponge iron, power, steel, structures, etc. Mahamaya is one of the few manufacturing units in India that churns out 600MM joist and 250MM angles.
*Latest available data
10. Gerdau Steel
HQ: Bangalore, Karnataka
Ownership: Private
Revenue/FY 2016-17*: Rs 3,700 Crores
A leading producer of long steel, Gerdau Steel India is operational in 14 countries around the world. A premium supplier of special steel, the company has an installed capacity of 25 million metric tons of steel annual across all its production facilities. The company employs 45,000 people worldwide and has earned the distinction as the largest recycler in Latin America, turning million of tons of scrap into steel each year.
*Latest available data
11. VISA Steel
HQ: Kolkata, West Bengal
Ownership: Private
Revenue/FY 2016-17*: Rs 14,950 million
VISA Steel is a part of the VISA group. A leading player in the Special Steel, Ferro Chrome and Metallurgical Coke businesses in India, the company is one of the prominent vendors of steel in the country. Backed by knowledgeable promoters and expert team of professionals, VISA Steel is currently involved with a number of high-profile, ongoing and prospective projects.
*Latest available data
12. Jindal Steel & Power
HQ: New Delhi, India
Ownership: Public Sector Enterprise
Revenue/FY 2017-18: Rs 27,841 Crore
Another leading steel manufacturer in the Indian steel industry, Jindal Steel & Power focuses on power generation and mining. The company operates the largest coal-based sponge iron plant in the world and has an installed capacity of 3 MTPA (million tons per annum) of steel at Raigarh in Chhattisgarh.
