Top 10 Steel Companies in India
Steel is created by combining carbon and iron at extremely high temperatures, more than 2600°F. Mainly steel is made from pig iron which is smelted iron derived from ore that comprises more carbon than steel needs. Iron can be alloyed with various other metals to create customized steels for a variety of applications.
The iron and steel industry is India's precious and vital manufacturing industry. The modern industrial world's strong structure is constructed of steel. Most other sectors, including locomotives, engineering, autos, real estate, shipbuilding, equipment tools, and others, are significantly reliant on and tied to the iron and steel industry.
The history of the Indian steel industry dates to the early 1600s. Today, steel is in high demand in various industries, including construction, railways, automobiles, consumer durables, and others. India is the world's second-largest producer of crude steel, following China. According to steel ministry reports, the steel production output is 111.2 MT (Million Tonnes).
The top ten steel businesses in India provide one of the highest industrial revenue earnings in the country, as the steel industry in India enters new stages of development, backed by an economic rebound and rising demand in India's downstream sectors. India presently ranks second in the world in terms of steel output. In India, the top ten steelmakers produced roughly 100 metric tonnes of finished steel, including alloy and non-alloy steel. These biggest steelmakers in India primarily produce steel from iron ore, supplying various major industries such as automotive, machinery, and construction.
1. Tata Steel Ltd.
One of India's biggest steelmakers, Tata Steel, was founded in 1907 by Jamshed Ji Tata. Tata Steel Limited was earlier known as Tata Iron and Steel Company Limited (TISCO). Tata Steel was Asia's first steel firm, founded in 1907. Although the company is situated in Jamshedpur, Jharkhand, its headquarters is in Mumbai. With a crude steel capacity of more than 30 million tonnes per year, the firm is Europe's second-largest producer. Tata Steel Limited, a unit of the Tata group, reduced competition in the market by acquiring Bhushan Steel Limited in 2018-19, as well as Usha Martin Limited.
The company is one of the few completely integrated steel operations, ranging from mining to manufacturing and selling completed goods. The company's ability to serve worldwide growing markets is based on continuous development in its product and service range, as well as success in value creation activities for clients. It now employs people in 26 nations and has a business presence in more than 50 countries across five continents. The company's raw material operations are scattered between India and Canada, allowing it to produce steel independently. Tata Steel manufactures hot and cold rolled coils and sheets, galvanized sheets, tub wire rods, construction rebars, and bearings.
2. INDIA'S STEEL AUTHORITY LIMITED (SAIL)
SAIL (Steel Authority of India Limited) was founded in New Delhi, India, in 1954. It is India's largest steel manufacturer and one of the country's seven Maharatna Central Public Sector Enterprises. Thanks to a thoughtful approach to modernization and a focus on green technology's state-of-the-art, SAIL is one of the few growing steel companies in India. Its central units are dispersed from engineering to technology. It takes the strongest stance, accommodating thousands of employers and employees across the organization's various divisions.
The company produces iron and steel at five integrated plants in Bhilai, Rourkela, Durgapur, Bokaro, and Burnpur. As well as three special steel plants and a Ferroalloy plant in Chandrapur, all of which are primarily located in India's eastern and central regions and are close to domestic raw material sources. SAIL produces and distributes a wide variety of steel products. In FY20, SAIL mined a total of 32.40 million tonnes of iron ore, fluxes, and coal.
Visa Steel Ltd is incorporated under VISA Group. Mr. Vishambhar Saran founded it in 1994. It is another one of the top 10 steel companies in India. This leading steel supplier in India was founded in 2003 and is based in Kolkata. VISA Steel is now ranked number one among India's top ten steel businesses, with three steel manufacturing plants and a steel production capacity of over a million metric tonnes.
One of India's leading steel companies, VISA Steel, has established a 150,000 TPA Ferro Chrome Plant in Kalinganagar, Odhisha. Six submerged Arc Furnaces with 3*25 MW Power Generating Units are part of this steel company's capabilities.
At Kalinganagar in Odisha, Visa SunCoke Ltd, a joint venture (JV) between Visa Steel Ltd and SunCoke Energy, USA, operates 400,000 million tonnes (MT) per annum heat recovery coke plant and associated steam generation facilities. VISA Steel has always been there for the development of education, healthcare, rural, sports, culture, safety, and environment.
4. Rashtriya Ispat Nigam Limited (RINL)
Vizag Steel, also known as Rashtriya Ispat Nigam Limited. It is a government-owned company having its headquarters in Visakhapatnam. This greatest steel brand in India was created in 1982 and is currently ranked among India's top 10 steel companies. The Government of India's Steel Authority of India Limited (SAIL) established Vizag Steel. It is one of the most profitable undertakings of the Indian government, as well as one of India's most highly regarded steel suppliers.
Vizag Steel has several export operations that provide high-quality steel on various bases. This company has established a reputation as one of the most successful producers with a high-profit margin.
It employs tens of thousands of engineers and manufactures high-quality steel. With an excellent track record with customers, the company has also hosted several steel plant projects across the country. Vizag steel manufactures various products such as Plain rounds, rebars, squares, flats, billets, pig iron, plain wire rods in Coils I, plain wire rods in Coils II.
5. JSW Steel
The JSW Group's primary company is JSW Steel. It is a leading steel manufacturer in India. Around the globe, the company is spread over 100 different countries. JSW is also the first firm in its automotive categories to produce high-strength and advanced high-end steel products.
The firm, which has the most extensive steel product portfolio, is also India's largest steel exporter, delivering to over 100 countries on five continents. It can generate 18 MTPA through Karnataka, Tamil Nadu, and Maharashtra factories. As the company ramps up production plans, it expects to reach the 40 MTPA threshold in ten years.
Along with India, Essar Steel is a leading steel manufacturing company in the Middle East and Asia. The company manufactures flat carbon steel from iron ore to market-ready steel products. Essar Hypermart and Essar Expressmart are brand names under which Essar Steel set up an end-user distribution chain for steel products.
The company's current capacity is 10 million tonnes per year (MTPA). They primarily sell completed steel manufactured goods to affluent industries such as white goods, automotive, engineering, construction, and shipbuilding. Essar Steel exports its flat steel products even to Europe and the United States.
Maruti Suzuki, Caterpillar, Swaraj Mazda, Hyundai, and the Konkan Railway are among the steel company's clientele. The company owns 8 MTPA units at Bailadilla (Chhattisgarh) and a 12 MTPA plant in Dabuna (Odisha), strategically located to take advantage of the respective states' significant iron ore reserves.
7. Jindal Steel and Power Ltd (JSPL)
Jindal Steel and Power Limited (JSPL) is a leading steel manufacturing company. It set its foot in power, mining, infrastructure sectors, and steel. Mr. Naveen Jindal currently leads the company, which has risen to the top of the country's steel manufacturers through innovation, creating new standards, and expanding skills. It is present in Chhattisgarh, Odisha, and Jharkhand.
JSPL has a current iron-making capacity of 10 MTPA and is the world's second-largest value creator. A 3.6 MTPA integrated steel factory, 0.6 MTPA wire rod mill, and 1.0 MTPA bar mill are among the company's significant projects in Raigarh.
8. Electro Steel Castings Ltd.
Electro Steel Castings, with a manufacturing capacity of 280,000 MT per year, is the largest manufacturer of Ductile steel iron in India. The current turnover is over 277 million dollars, which is fairly substantial. The company is among the top five manufacturers of spike iron in the world. The company is a water infrastructure company. Electro steel provides a solution for water supply and sewage systems by the techno-economic method. They are involved in manufacturing Ductile Iron Pipes and Fittings and Cast-Iron Pipes. It was established in 1955, and its headquarters is in Kolkata. However, it's present in various parts of India, like Elavur in Tamilnadu, Khardah, and Haldia in West Bengal.
It began its operations in Kolkata and has since expanded to include branches around the country, making it the country's top maker of spun iron pipes. BSI granted the company a KITEMARK authorization for its spinning pipes and fittings.
9. Mideast Integrated Steel Limited (MISL)
Mideast Integrated Steel Limited (MISL) is another of India's leading steel corporations, founded in 1992 and based in the eastern Indian state of Odisha. The company is situated in Kalinga Nagar, Odisha, now has two 389 cubic meter Blast Furnaces.
In 1996, the business obtained the Rodia iron ore mining lease in Odisha's primary iron ore belt. In 2005 MISL's pig iron factory at Jajpur was formed and running since then. MISL has a strategic partnership with Stemcor in the United Kingdom for marketing and funding.
Furthermore, the company is planning to expand by taking finished steel capacity to 3.5 million tonnes in 2 phases. The finished products will be wire rods and rebars.
10. Godawari Power & Ispat Ltd.
Godawari Power & Ispat is a subsidiary of the Raipur-based Hira group. The company's primary businesses are energy generating, iron ore mining, and sponge iron manufacture.
The corporation purchased 51.4 percent of the RR groups' stock. Steel factories manufactured steel billets, sponge iron, and seamless steel for industrial use in two phases.
The company purchased Krishna Minerals Ltd, which is in the early stages of exploration in mines and minerals, for 100% of its equity. It has operational steel factories in Odisha and is a significant employer of technicians.