MESSAGE FROM THE
MANAGING DIRECTOR

Sustainability: Building a greener tomorrow

India’s national economic goals, particularly those outlined under the Viksit Bharat 2047 vision, form a powerful foundation for our sustainability strategy at Jindal Stainless. Whether it is enhancing manufacturing competitiveness, achieving energy security, or accelerating infrastructure development, our operational priorities are built on the very pillars that drive the nation’s long-term economic agenda. These priorities are also in direct alignment with the United Nations Sustainable Development Goals (SDGs). This deep, existing synergy reinforces our commitment to responsible growth, not just as a corporate goal, but as part of a larger national and global imperative.

Leveraging a scrap-intensive production model powered by electric arc furnaces, our operations inherently generate lower emissions than conventional steelmaking methods. But sustainability is about more than carbon. It is about long-term value, resource efficiency, and product durability – areas where stainless steel offers unmatched benefits. With its corrosion resistance, 100% recyclability, high strength-to-weight ratio, and excellent life cycle costing, stainless steel is a material inherently aligned with sustainable development. In FY25, we intensified our environmental commitments by accelerating our clean energy roadmap. We are consistently investing in renewable energy solutions and have incorporated green hydrogen as a key element of our long-term decarbonisation strategy. We installed Odisha’s largest captive industrial solar plant in April this year in collaboration with AB Energia, with a cumulative capacity of over 30 MWp. Additionally, we are actively exploring ways to expand the use of biomass as a carbon-neutral fuel across our operations – an important step in decarbonising industrial energy use. We also signed an 11 MWp long-term Power Purchase Agreement (PPA) between our subsidiary, JSL Super Steel, and Sunsure Energy. With the commencement of these projects, we expect renewable energy to meet more than 30% of our total energy consumption. In line with our long-term vision, we are also targeting a 50% reduction in CO₂ emissions by 2035 and becoming carbon neutral by 2050. In addition, we are working closely with our supply chain partners to reduce upstream emissions, fostering collaboration that extends our sustainability impact beyond our own boundaries. Outside operations, we are trying to ingrain sustainability into the pulse of our people. Each year, on World Environment Day, we organise a plastic waste collection drive to raise awareness about the harmful effects of single-use plastic. The collected waste is repurposed into useful items such as dustbins and benches, which are then distributed for community use. This year, we extended this initiative beyond our office and plant walls, engaging residents in the communities surrounding our Hisar and Jajpur facilities. The collective effort resulted in the removal of over 13.5 tonnes of single-use plastic, underscoring the power of shared action and purpose. The report you’re reading at this moment also marks our transition to Integrated Reporting, aligning financial and ESG disclosures into a unified framework. As sustainability standards evolve, our reporting reflects holistic impact, covering climate, quality support, social transformation, and governance.

As part of our broader sustainability efforts, we continue to lead the charge in India’s war against corrosion. In collaboration with the CII’s National Mission on Corrosion Management, we are raising awareness about the avoidable losses caused by corrosion, which costs the Indian economy over USD 100 billion annually. Beyond financial implications, corrosion can also lead to structural failures that risk human lives, making timely prevention both an economic and moral obligation. By advocating the use of stainless steel as a long-term, low-maintenance solution, we aim to reduce this burden and contribute to safer, more durable infrastructure for a sustainable future.

Authenticity and fair trade: Raising the bar

Stainless steel isn’t just a product – it’s a promise of quality and safety. And not everything that shines is stainless. Counterfeiting continues to pose a serious challenge for our industry. Unscrupulous manufacturers pass off low-quality stainless steel products at original-grade prices, eroding consumer trust and undermining the integrity of the entire value chain. To counter this, we strengthened the Jindal Saathi Seal initiative, empowering consumers to reliably identify authentic stainless steel. The initiative began in 2019 with the pipes and tubes segment, and this year, we have extended it to the kitchenware and sink segment. This step reinforces your company’s long-standing commitment to quality and transparency. Additionally, the concerning surge in subsidised and substandard imports from China or Chinese material routed through ASEAN countries like Vietnam, exploiting trade agreement loopholes, continues to threaten both consumers and domestic manufacturers. We will continue our efforts to urge the government to implement a National Stainless Steel Policy, one that recognises the strategic importance of this wonder metal in national infrastructure and industrial development. A well-defined policy framework will help curb unfair trade practices, encourage quality compliance, support MSMEs, and promote atmanirbharta in critical sectors. It will also create a level playing field for Indian manufacturers and unlock the true potential of this essential, future-ready material.

From paper to the cloud: Digital transformation and innovation

Your company is accelerating its digital transformation by embedding artificial intelligence, machine learning, and generative AI across operations. A pioneering digital transformation initiative aimed at automating the production process from casting to finishing is now live at our Hisar facility – the first of its kind in the stainless steel industry. Aptly named ‘Project Pragati’, it is a true metaphor of the progress we are making at Jindal Stainless. The next phase will see its rollout at our larger Jajpur facility, followed by end-to-end supply chain automation in the coming years. Alongside, SmartFactory4.0 is capturing sensor data across all levels, enabling real-time insights through edge analytics and cloud integration – empowering both shop-floor teams and leadership. AI models are also enhancing our product quality through surface inspection and predictive analytics. Across business functions, AI is driving smarter decision-making by analysing market sentiment, import trends, and operational data. Through these initiatives, your company is building a smarter, faster, and future-ready enterprise.

Our innovation journey is increasingly being shaped by the evolving expectations of our customers. As markets grow more discerning and application-specific, we are placing greater emphasis on listening to consumer needs and co-creating solutions tailored to their environments. From cookware and infrastructure to automotive and clean energy, we are seeing a shift from standardised products to customised performance. Whether it’s developing alloys that extend durability in coastal climates or finishes that meet aesthetic demands in architecture, our R&D and marketing teams are working hand-in-hand with customers to turn insights into innovation. We are also actively exploring opportunities across user industries to drive domestic conversion, with a heightened focus on applications in mobility, water infrastructure, and large-scale projects such as dams and barrages. In many ways, our consumers are not just driving demand; they are shaping the future of stainless steel.

A people-first culture: Enabling excellence and transforming lives

Our people are our greatest strength. In FY25, we launched our Employee Value Proposition (EVP) campaign, built around learning, leadership, empowerment, and impact. As an organisation, we identified five pillars – learning opportunities, nurturing leaders, exposure to the stainless steel industry, a sense of community, and the freedom to experiment. These pillars are deeply embedded in the fabric of our organisation and have been instrumental in propelling our transformation from a USD 2.4 billion company to USD 4.75 billion in just three years. At the heart of this journey are our people, and it is their energy, ideas, and dedication that drive us forward. Our EVP campaign reinforces this momentum by inviting new talent, current employees, and industry peers to see Jindal Stainless not just as a workplace but as a vibrant community united by a shared purpose of growth and innovation. Last year, we also granted employee stock options for senior members of your company, rewarding employees for their commitment and performance, and reinforcing our belief in shared ownership.

While the people within our walls are always a priority, we have been working diligently with the communities outside of them as well. In FY25, our CSR programmes benefitted over 92,000 individuals through education, healthcare, environment, and livelihood initiatives. Alongside, our Stainless Academy has trained more than 50,000 fabricators to date, equipping them with technical know-how and quality standards of stainless steel, helping participants secure better livelihoods and strengthening the entire downstream ecosystem. Partnering with institutions like IITs, NITs, and Government Polytechnics, the Academy has introduced stainless steel courses to raise awareness about the category and train future engineers who will build our country. Additionally, our stainless steel display vans have already travelled over 4.5 lakh kilometres, delivering more than 500 programmes across the country, showcasing applications, and providing on-site experience to fabricators. These efforts highlight our belief that true progress is measured not only by what we build but by how many lives we uplift along the way.

FY25 has been a year of reaffirmation: that true leadership is built on innovation, integrity, impact, and most importantly, grit, determination, and collective effort. I extend my sincere thanks to our employees, partners, fabricators, customers, shareholders, and communities for their collaboration and trust. Let’s shape the next chapter of stainless excellence – together.