India is the second-largest crude steel producer globally, with a capacity of over 138 million tonnes. According to the Joint Plant Committee, India’s production of total finished steel grew by 3.7% YoY to 131.6 million tonnes in 2017–18, as per the Ministry of Steel.
What is driving the steel demand in India?
A study conducted by Worldsteel in collaboration with the Indian Steel Association notes that the construction sector is going to be a pan-India driver of steel demand in the country. This would be driven by strong government thrust for infrastructure development and housing for all. Government initiatives such as ‘Smart Cities’ and ‘Affordable Housing’ as well as building of industrial corridors will boost India’s steel demand definitively. For the country, it means enhanced connectivity, reduced logistical costs and well-distributed development spanning all Indian states. Further support to development of the steel industry is expected to come through the ‘Make in India’ initiative, which aims to transform India into a global design and manufacturing hub, with sectors along the industrial and freight corridors. To that end, a number of Indian states are expected to set up automotive and ancillary industries to become global hubs for manufacturing export-oriented small cars.
Here is list of top 10 steel companies in India:-
1. Tata Steel Ltd
Tata Steel was established in India as Asia’s first integrated private steel company in 1907 Owned by Tata Group. The companies crude steel capacity across Indian operations is nearly 19 MnTPA. Tata Steel is the second-largest steel producer in Europe with a crude steel production capacity of over 12.1 MnTPA. It is the largest steel companies of India
- Total Sales: Rs 1,60,769 Cr.
- Total Capacity: 34 MnTPA .
- Capacity in India: 19.4 MnTPA
- Capacity Overseas: 14.6 MnTPA
2. JSW Steel Ltd
JSW Steel is a flagship company of the JSW Group and the second-largest steel companies of India. The Company has a steel making capacity of 18 MnTPA . Ranked 7 th amongst Top 34 World Class Steelmakers by World Steel Dynamics. It has a large scale presence in both India and international.
JSW Steel is India’s leading manufacturer of value-added and high-grade steel products. The Company has plants in Karnataka, Tamil Nadu, and Maharashtra.
- Total Sales: Rs 84,050 Cr.
- Total Capacity: 18 MnTPA .
3. Steel Authority of India Ltd
SAIL is a Government steel-making company in India and one of the seven Maharatna’s of the country’s Central Public Sector Enterprises. It is the Top Government steel companies in India.
- Total Sales: Rs 57,496 Cr.
- Total Capacity: 21 MnTPA .
4. Essar Steel India Ltd
Essar Steel is known for its high quality of flat steel products. The company focuses on high value-added grade steels and has developed over 300 grades of flat steel for different applications. Essar Steel is a 10 MTPA integrated steel producer.
- Total Capacity: 10 MnTPA .
5. Jindal Steel & Power Ltd
Jindal Steel & Power Limited (JSPL), a part of the USD 22 billion diversified O. P. Jindal Group, is a leading Indian Steel manufacturer and Power producer. The company is fifth in the list of top 10 steel companies in India based on turnover.
JSPL has created cutting-edge capacities to produce upto 9.95 Million Tonne Per Annum (MTPA) Iron catering to its 11.6 MTPA Liquid Steelmaking capacities across three locations in India and abroad.
- Total Sales: Rs 39,652 Cr.
- Total Capacity: 11 MnTPA .
- Capacity in India: 8.6 MnTPA .
- Capacity in Oman: 2.4 MnTPA
6. Rashtriya Ispat Nigam Limited (RINL) – 2019 Revenue: $2.9 Billion
Rashtriya Ispat Nigam Limited, also known as Vizag Steel is a Government of India undertaking company. This is also one of the top 10 steel companies in India with its headquarters at Visakhapatnam. This best steel brand in India was founded in 1982 and is one of the top 100 steel companies in India. Vizag Steel is one of the top steel manufacturers in India and has an annual turnover of around $2.9 billion. Vizag Steel was founded by the Government’s Steel Authority of India Limited (SAIL). It is ranked as one of the most profitable ventures of the Indian government and is one of the most highly rated steel suppliers in India today.
7. Bhushan Steel – 2019 Revenue: $1.7 Billion
Bhushan Steel is one of the renowned top 10 steel companies in India and one of the best steel manufacturers in India. This leading steel suppliers in India features predominantly on the list of stainless steel manufacturers in India with its headquarters at New Delhi and established in 2003. This leading steel brands in India of the steel industry in India has an annual steel production in India with a capacity of more than 5 million metric tons and a yearly turnover of under $2 billion approximately. Bhushan Steel in India has three manufacturing plants for steel production in India.
8. Facor Steel – 2019 Revenue: $1.5 Billion
Facor Steel is one of the top 10 steel companies in India and a renowned steel brand in India. This is one of the top leading steel companies in India was founded in 1956 by Durgaprasadji Saraf and is headquartered in Nagpur, India. This top steel brands in India has an annual turnover of more than $1.5 billion and a steel production in India capacity of around 2 million metric tons. This leading steel suppliers in India and top 100 steel companies in India is also an established steel company in India exporting to many countries around the world. Facor steel is one of the fastest growing steel producing companies in Asia.
9. VISA Steel – 2019 Revenue: $3 Billion
VISA Steel is another top 100 steel companies in India from the steel industry in India. This top steel supplier in India was established in 2003 and is headquartered out of Kolkata. Currently, VISA Steel is in the leading list of top 10 steel companies in India has 3 steel manufacturing plants with a steel production in India capacity of over a million metric tons. This leading list of private steel plants in India company has an annual turnover of more than $3 billion and is ranked as one of the best steel manufacturers in India and is owned by the VISA group of companies. 2019 Revenue: $3 Billion .
10. MESCO Steel – 2019 Revenue: $2 Billion
MESCO Steel is also one of the top 10 steel companies in India with a global presence from the steel industry in India. This is list as one of the top few leading steel suppliers in India was founded in 1992 with collaborated on technology from Sino Steel, the Chinese steel conglomerate. MESCO Steel is in the list of top 100 steel companies in India that produces over 1000 tons of hot metal every day and operates from two steel production in India plants. This major steel manufacturers in India is renowned as having the lowest debt-equity ratio among several steel companies in India. MESCO steel is growing to become one of the leading steel producers in India and the Asia-Pacific region.