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    Table of Contents

    The Interim Budget highlights of 2024-25 makes it clear on the government’s roadmap for investment in infrastructure development and sustainability. And this naturally opens up new opportunities for the steel industry for small businesses and the top 10 steel companies in India. With almost 96.9 MT production in 2021 (Source: IBEF), India is the second largest producer of crude steel globally. And with the new direction, there’s likely to be an increase in the domestic demand for steel. Let’s look at the list of top steel companies and manufacturers and how they can leverage the new opportunities coming their way. We also look at steel companies market share, production capacity, growth, revenue and other components of the top steel competitors in India.

    Top 10 steel companies in India in 2024

    The primary raw materials used for steel manufacturing is iron ore and coking coal. For making steel alloys, carbon and other metal components are used. The location of the steel plant therefore is determined by its access to raw materials (and other resources such as water, clean electricity/power, and labour).

    At Tata nexarc we have built a platform to enable businesses to buy steel at the best prices. We have partnered with multiple trusted sellers and offer steel products across different brands, types, and grades. We offer credit options and on-time doorstep delivery. To know more and get a quote for steel, get in touch now.

    Also read: Top 10 steel companies in the world

    Which are the top 10 steel cities in India?

    Odisha, Chhattisgarh, Jharkhand, West Bengal, Karnataka, Andhra Pradesh, Tamil Nadu, Maharashtra, and Uttar Pradesh, as such are the primary states for steel manufacturing and production.

    The top 10 steel cities in India (in no specific order) are:

    • Jamshedpur (Jharkhand) – Tata Steel Limited
    • Bokaro (Jharkhand) – Bokaro Steel Plant (SAIL), Vedanta
    • Rourkela (Odisha) – Rourkela Steel Plant (SAIL)
    • Angul (Odisha) – Jindal Steel and Power Limited (JSPL) steel plant
    • Durgapur and Burnpur (West Bengal) – Durgapur steel plant (SAIL), IISCO steel plant
    • Bhilai (Chhattisgarh) – Bhilai Steel Plant (SAIL)
    • Vizag (Andhra Pradesh) – Vizag Steel (Rashtriya Ispat Nigam Limited – RINL)
    • Vijayanagar (Karnataka) – JSW Steel plant
    • Salem (Tamil Nadu) – Salem steel plant (SAIL), JSW Steel Salem works
    • Hazira in Surat (Gujarat) – AM/NS India Ltd. (Essar Steel) plant
    • Dolvi and Vasind (Maharashtra) – JSW Steel

    On that note, let’s take a look at the top steel manufacturing companies in India, in no particular order.

    1. Tata Steel Limited

    Tata Steel Limited is one of the most reputed and renowned steel manufacturers in the world. Founded in 1907, by the visionary Jamsetji Tata, it marked the beginning of the first iron and steel industry in India.

    It was formally known as TISCO (Tata Iron and Steel Company). The company currently operates in 25+ countries worldwide with key operations in the UK and Netherlands, outside of India. Its main steel plants are located in Jamshedpur, Kalinganagar, and Dhenkanal. The company’s annual production capacity has been on the rise considerably, fulfilling domestic and international demand for steel.

    Tata Steel Limited, has its headquarters in Mumbai (Maharashtra) and is a part of the Tata Group of companies. For more details, visit: tatasteel.com/

    Also read: Tata Steel online vendor registration process

    Interesting facts about Tata Steel:

    Some other interesting facts that make Tata Steel a top steel manufacturer in India are:

    • Average production capacity: 12 MnTPA (Jamshedpur), 3 MnTPA (Kalinganagar),
    • Annual revenue: US$31 billion in 2023 excluding SEA operations (Source: Wikipedia)
    • Number of employees: ~77,000 in 2023 (Source: Wikipedia)
    • Top products: Hot rolled, cold rolled, coated coil, tubes, rebar, wire rods (Also read: List of Tata Steel products)
    • Products/Brands: Tata Tiscon, Tata Steelium, Tata Shaktee, Tata Pipes, Galvanco, Tata Astrum, Tata Bearings, and more.
    • Tata Steel stock price (NSE: TATASTEEL): ₹140.90 (20 February 2024)

    It’s journey is a narrative of nation-building, growth, innovation and sustainability. It is a beacon of India’s industrial ambition and symbolises the blend of tradition and modernity in the realm of steel manufacturing.

    Also read: A look at Tata Steel’s procurement process

    How many Tata Steel plants are there in India?

    Tata Steel Limited’s primary steel manufacturing plants are located in:

    • Jamshedpur (in Jharkhand)
    • Kalinganagar and Dhenkanal (in Odisha)

    Their downstream operations are based out of:

    • Jamshedpur: Tubes manufacturing and tinplate
    • Kharagpur: Bearings manufacturing
    • Tarapur, Pithampur and Killa: Wire manufacturing

    For more details, visit: //tatasteel.com/

    2. Steel Authority of India Limited (SAIL)

    Another top Indian steel companies to look at is SAIL – Steel Authority of India Limited. Under the Ministry of Steel, Government of India, SAIL is a central PSU.

    SAIL has a rich history and traces its origin back to 1954 when it was founded. In today’s date, it owns five integrated steel plants, three special steel plants, and one ferro alloy plant.

    SAIL is a Maharatna company and headquartered in New Delhi. For more details, visit the official website: sail.co.in/

    Highlights about SAIL:

    Some highlights about SAIL that make it one of the leading steel producers in the country are:

    • Average production capacity: 29 MTPA (expected to scale to 50 MTPA by 2025)
    • Annual revenue: US$13 billion in 2023 (Source: Wikipedia)
    • Number of employees: 57,000+ (Source: Wikipedia)
    • Top products: steel, flat steel products, channels, angles, wire rods, TMT rebars, plates, pig iron, billets, wheels and axles, HR plates and coils, CR coils, sheets, and more
    • Location of steel plants: Bhilai Steel Plant (Chhattisgarh), Durgapur Steel Plant (West Bengal), Rourkela Steel Plant (Odisha), Bokaro Steel Plant (Jharkhand), IISCO Steel Plant (West Bengal)
    • SAIL share price (NSE:SAIL): ₹127.25 (20 February 2024)

    Also read: Tata Steel vs SAIL – Key things to know

    3. JSW Steel

    The next name to feature in our list of top steel companies in India, is JSW Steel or Jindal South West Steel. In recent news, the JSW Group is in plans of expansion and aims to make a cumulation investment of ₹65,000 crores in Odisha for setting up a 13.2 MTPA steel plant, along with a cement plant, power plant, and greenfield jetty port (Source: The Hindu BusinessLine, February 2024).

    JSW Steel is a part of the larger conglomerate of JSW Group, which saw its birth in 1982. Headquartered in Mumbai, the group has diversified into other sectors including cement, infrastructure, energy, paints and sports.

    The company was initially called Jindal Iron and Steel Company (JISCO) and had established its first steel plant in Vasind, near Mumbai. Today, as JSW Steel, its primary steel plant is in Vijayanagar, Karnataka with a capacity of 12 MTPA and is the largest single-location steel producing facility. There are 14 JSW steel plants in India at present.

    For more information on JSW Steel, visit: jsw.in/

    Interesting facts about JSW Steel:

    Some good to know facts about JSW Steel as a company and their contribution to the steel industry:

    • Average production capacity: 5 MTPA in India and USA (joint control capacity included)
    • Annual revenue: US$23 billion (JSW Group revenue) (Source: Wikipedia)
    • Number of employees: ~55,000 (Source: Wikipedia)
    • Top products: Hot rolled, cold rolled, colour coated products, galvanised steel products, Avante Doors (wood and steel), TMT bars, wire rods, special alloy steel, and more
    • Popular Brands: JSW Silveron+ (sheets), JSW Everglow (roofing), JSW Colouron+ (colour coated sheets), JSW Neosteel TMT bars (Also read: JSW Neosteel price), JSW Trusteel (HR sheets), and more
    • Industries/sectors catered to: Automobile, construction, electrical applications, infrastructure, and others
    • Location of steel plants: Vijayanagar, Dolvi, Kalmeshwar, Salem, Tarapur, Vasind, and more (total 14 manufacturing facilities in India)
    • JSW Steel share price (NSE:JSWSTEEL): ₹816.80 (20 February 2924)

    Who is India’s No 1 steel company?

    Tata Steel Limited, Steel Authority of India Limited (SAIL), and JSW Steel are regarded as the top steel companies in India. When comparing different parameters such as annual revenue, production capacity, market share etc. these three steel manufacturers usually occupy the first three ranks.

    • Tata Steel recorded enormous revenue in 2023, is operational across global markets, and has a combined annual production capacity of ~15 MTPA (Kalinganagar and Dhenkanal plants).
    • SAIL on the other hand, is a central government PSU, is on a growth phase with ~29 MTPA, and manages some of the leading steel plants in India – Rourkela steel plant, Bokaro steel plant and Bhilai steel plant.
    • JSW Steel (a part of JSW Group) with 14 steel pants, is on an enormous expansion phase. In recent news, it has raised over USD 900 million from a consortium of 8 foreign banks to refinance debt and pre-pay high cost borrowings (Source: The Economic Times, April 2024).

    4. Jindal Steel and Power Limited (JSPL)

    A part of the OP Jindal group, JSPL or Jindal Steel and Power Limited is the next among the top 10 steel companies in India.

    It offers a wide range of steel products catering to the wide steel supply chain. Apart from steel, the group also has presence across mining, power and infrastructure sectors, and has its operations across India, Australia and Africa. It’s business presence is spread across 36+ countries. JSPL is a key player in the steel sector in India, catering to the demand for steel in automotive, construction and infrastructure.

    It is an innovative group, focusing on using technology for seamless production and sustainability, working towards the country’s vision of building a strong, self-reliant and competitive economy. For more details, visit their website: jindalsteelpower.com/

    • Average production capacity: 6 MTPA (steel)
    • Annual revenue: US$ 6.6 billion in 2023 (Source: Wikipedia)
    • Number of employees: ~22,000 in 2022 (Source: Wikipedia)
    • Top products: Rails, beams and columns, mild steel stabs, mild steel, sponge iron, HR plates, angles and channels, wire rods, round bars, coils, and more
    • Popular brands: Jindal Panther TMT bars, Jindal Speedfloor (flooring solutions)
    • Steel plant locations: Raigarh (Chhattisgarh), Angul (Odisha), Barbil (Odisha), Patratu (Jharkhand)
    • JSPL share price (NSE:JINDALSTEEL): ₹760.35 (20 February 2024)

    Also read: Steel plants in Odisha

    5. ArcelorMittal Nippon Steel India (AM/NS India) / Essar Steel India Limited

    The next name in the list of top 10 steel manufacturers in India is that of ArcelorMittal Nippon Steel India (AM/NS India).

    It is a joint venture between ArcelorMittal and Nipon Steel (Japan) and was formed after acquiring Essar Steel’s (of Essar Group) plant at Hazira (Gujarat) in 2019.

    AM/NS India produces over 600 grades of steel and caters to a wide range of industries. The company follows sustainability practices and has been an active contributor to employment generation, growth, and innovation. (Also read: Sustainability and green steel manufacturing).

    In 2022, AM/NS India had announced investment around ₹60,000 crore to scale the capacity of the facility. The investment would enable to instal new technologies for steel making, improving machinery, and expanding the product mix. The company also announced that Phase One will be completed by 2026 and Phase Two will be completed by 2029 and will produce 24 MT steel. (Source: Business Today, January 2024).

    AM/NS India also has signed MoU with National Small Industries Corporation (NSIC) and National Skill Development Corporation (NSDC) to boost and drive the MSME ecosystem in India.

    Locations of AM/NS India Limited’s primary facilities are:

    • Beneficiation facilities: Keonjhar (Odisha) and Kirandul (Chhattisgarh)
    • Pellet facilities: Paradeep (Odisha), Visakhapatnam (Andhra Pradesh)
    • Iron ore mines: Eklama (Chhattisgarh), Satarda (Maharashtra) and Thakurani and Sagasahi (Odisha)

    For more information, visit their website: amns.in/

    Which is the No 2 steel company in India?

    When it comes to the list of top steel companies in India, Tata Steel Limited, SAIL and JSW Steel are the prominent names to feature.

    However, while Tata Steel and JSW Steel are privately owned, SAIL is a central government PSU and under the Ministry of Steel, GOI.

    As such, the top steel brands in the private sector, are:

    • Tata Steel Limited
    • JSW Steel
    • Jindal Steel
    • AM/NS

    6. Vedanta Limited / ESL Steel Limited

    Vedanta Limited has been a well-known name in the mining sector. In 2018, it acquired majority stake (90%) in Electrosteel Steel Limited, adding steel to its diverse portfolio.

    ESL Steel has its integrated steel plant operations in Bokaro, Jharkhand. A Greenfield manufacturing facility with 1.5 MTPA capacity. It also has plans of expanding operations to 5 MTPA through brownfield expansions and key player in the growing steel industry in India. It aims to focus on ductile iron and long products, with sustainability and diversity in product range as its strategy for business expansion and growth.

    For more information, visit: vedantalimited.com/

    Some other details about this leading steel manufacturer in India are:

    • Annual production capacity: 5 MTPA (expansion plan to 3 MTPA is on)
    • Main plant location: Bokaro
    • Main products: Pig iron, billets, wire rods, TMT bars, ductile iron pipes

    In recent times:

    As per October 2023 news, the company aims to sell its iron and steel division by March 2024. This would enable the company to focus on its key mining business and reduce debt. The steel business contributed nearly 4% of the operating profits for the company and the company is looking at both refinancing and repayment options for the sale.

    The company also plans a demerger into six commodity-focused entities to attract higher investments. The sale would include its domestic iron ore business, Liberia Assets and ESL Steel Limited. (Source: Business Today, October 2023)

    7. Vizag Steel (RINL – Rashtriya Ispat Nigam Limited)

    Rashtriya Ispat Nigal Limited (RINL) is a central PSE under the Ministry of Steel, Government of India. RINL is the corporate entity of Visakhapatnam Steel Plant, commonly known as Vizag Steel.

    A Navaratna company, it was founded in 1982 and is the country’s first shore based integrated steel plant. It was started as a 3 TPA of liquid steel capacity plant but has grown considerably over the years, cementing its position among the top 10 steel companies in India. For more information on Vizag Steel, visit the website: vizagsteel.com/

    • Average production capacity: 3 MTPA plant in Visakhapatnam (expansion plans to 20 MTPA by 2027)
    • Annual revenue (estimates): US$ 2.6 billion in 2018-19 (Source: Wikipedia)
    • Key products: Wire rod coils, rebars, special steel, structural, plain rounds, forged rounds and more (Also read: Vizag steel price)
    • Number of employees: ~14,700+ in March 2023 (Source: Wikipedia)

    8. VISA Steel Limited

    VISA Steel Limited is next in our list of best steel companies in India. Headquartered in Kolkata, West Bengal, it operates a special steel and stainless steel manufacturing unit in Kalinganagar, Odisha. It has also set up a 125,000 TPA Ferro Chrome plant in the same location.

    A leading steel brand in the steel and ferro chrome manufacturing sector, VISA Steel is a fairly young organisation, having being founded in 2003.

    You can learn more about this top steel manufacturing company on their website: visasteel.com/

    9. Godawari Power and Ispat Limited

    A part of the Hira Group, Godawari Power & Ispat Limited (GPIL), the company was set up in 1999 though commercial operations started in 2001.

    In 2004, the first phase of its expansion was commenced. The goal is to expand capacity for:

    • Sponge iron by 2,60,000 tonnes
    • Steel billets by 2,00,000 tonnes
    • Captive power generation by 25 MW

    Today, the company is the third largest producer of coal based sponge iron in India. GIPL is an environment conscious organisation and incorporates the best practices in sustainability. The company also has power generation capabilities. Any excess is exported. It has also been awarded the Integrated Management System Certification and is the first organisation in the state of Chhattisgarh to have received the same. (Also read: Sustainability initiatives in the Interim Budget)

    For more information on the company, visit the group website: hiragroup.com/

    • Top products: Sponge iron (DRI), mild steel billets, mild steel wires, iron ore pellets, ferro alloys
    • GPIL share value (NSE:GPIL): ₹789.10 (as of 20 February 2024)

    News and latest updates:

    The company intends to set a 2 MTPA capacity Green Field integrated steel plant, at an estimated ₹6,000 crores. (Source: February 2024, unverified as appeared on Business Standard and powered by Capital Market).

    The company also has approval to scale its sponge iron production to 5.94 MTPA (increase by 1 MTPA). This is for the Siltara Industrial Area plant in Raipur. (Source: The Economics Times, January 2024).

    10. Primegold International Limited

    We’ll conclude our discussion on the top 10 steel companies in India with Primegold International Limited.

    Founded in 1984 and headquartered in Delhi, the company produces high-end quality steel products used predominantly in housing and infrastructure development projects. (Also read: Infrastructure development initiatives in the Interim Budget).

    It uses advanced technologies in steel production that’s innovative and environmentally friendly. Core products include: TMT bars, SS water pipes, and fittings, designed especially for catering to the construction sector.

    You can learn about the company on their website: primegoldgroup.com/

    • Annual production capacity: 3 lakh tonnes per annum
    • Number of plants: 11 steel plants as associates
    • Key products: TMT bars, steel reinforcement bars (TMT Saria), structural steel, stainless steel pipes

    Which steel brand is best?

    We’ve shared the list of the top 10 steel manufacturing brands in India – and each of them are renowned for their superior quality of steel.

    What matters is the type of steel you are investing in and its purpose. For instance, when considering the best steel for construction, TMT bars are considered the best steel for home construction.

    Some of the prominent names in the list of top 10 TMT steel bar manufacturers in India are:

    How to buy quality steel for business?

    The list of top steel manufacturing companies in India is to help you learn about the leading steel providers in the country and the wide range of steel products available in the market.

    The demand for steel has been consistently on the rise even through there have been supply chain challenges in steel and other general challenges in the steel industry. From the latest news and announcements by the government, it can be deciphered that the steel sector is on a growth trajectory and in the years to come, we can expect manifold growth for the sector across small and large players.

    Our goal at Tata nexarc is to help you buy steel from trusted seller when you need it and the best prices available. To learn more, register now on Tata nexarc and buy steel at the best prices.

    Sohini Banerjee

    Sohini is a seasoned content writer with 12 years’ experience in developing marketing and business content across multiple formats. At Tata nexarc, she leverages her skills in crafting curated content on the Indian MSME sector, steel procurement, and logistics. In her personal time, she enjoys reading fiction and being up-to-date on trends in digital marketing and the Indian business ecosystem.