Metals are the classic driving force in the field of industrialization, with Steel holding the dominant position. For a long time, steel has contributed exceptionally to India’s economic growth. India ranks second in the production of crude steel after China.
The Indian Steel Industry goes way back to the early 1600s. Today also, there is a huge demand for steel in different sectors like Construction, Railways, Automobiles, Consumer durables, and others.
The steel found in India became a major chance for entrepreneurs to get into the business. Government sectors were also interested to be in this industry along with several other private businessmen. The first to be traced in the Indian steel industry is the setting up of the Tata Iron & Steel Company (TISCO) in Bihar in 1907. Later, many steel plants contributed to the steel industry of India. Here’s a look at the leading steel companies of India.
Top 10 Steel Companies of India
- Tata Steel Limited
- JSW Steel Limited
- Steel Authority of India Limited
- Essar Steel India Limited
- Jindal Steel & Power Limited
- Rashtriya Ispat Nigam Limited
- NMDC Steel Limited
- VISA Steel
- MESCO Steel
- Electro Steel Limited
Top 10 Steel Companies of India
Listed below are the top 10 steel manufacturing companies in India:
Tata Steel Limited
CEO: T.V Narendran ( Since October 2017 )
Founder: Jamsetji Tata
Headquarters: Mumbai, Maharashtra
Tata Steel was Asia’s first steel company established in 1907. Although the company is based in Jamshedpur, Jharkhand its headquarters is in Mumbai. Tata Steel Limited was formerly known as Tata Iron and Steel Company Limited (TISCO).
With an annual crude steel capacity of more than 30 million tonnes per annum, the company ranks second as the largest producer in Europe. A unit of the Tata group, Tata Steel Limited reduced its competition in the market by acquiring Bhushan Steel Limited in 2018-19 and also acquired Usha Martin Ltd.
JSW Steel Limited
CEO & Managing Director: Prashant Jain ( Since June 2017 )
Founder: Sajjan Jindal
Headquarters: Mumbai
JSW Group is the parent organization for JSW Steel and is one of the largest steel manufacturing companies in India. JSW Steel Limited has got large operations not only in India but even in international markets they have a large-scale presence.
JSW Steel Limited started in the early 80s with a single steel plant in Mumbai and now the company has got steel plants in states like Karnataka, Tamil Nadu, and Maharashtra.
Rishita Jain
Steel Authority of India Limited
CEO: Soma Mondal (Since January 2021)
Founder: Ministry of Steel (Government-owned)
Headquarters: New Delhi
Steel Authority of India Limited (SAIL) is a government-owned steel manufacturing company in India. With competition from the private sector, SAIL became one of the top government steel companies in India.
SAIL is into both iron and steel manufacturing with several plants that are located in the eastern and as well as in central regions of the country. SAIL manufactures and sells a variety of steel products in India.
Essar Steel India Limited
CEO: Dilip C Oommen ( Since July 2011)
Founder: The Essar Group (Shashi Ruia and Ravi Ruia)
Headquarters: Mumbai
Founded in the year 1998, Essar Steel India Limited became one of the leading steel manufacturing companies in India. Essar Steel India Ltd is known for high-quality steel products with high-value graded steel.
Essar Steel’s products are supplied to a wide range of industry segments in India. Several industries like the auto industry, power plants, hydrocarbon industry, and many others depend on Essar Steel Ltd for steel.
Jindal Steel & Power Limited
CEO: Sudhanshu Saraf ( Since Jan 2019)
Founder: Om Prakash Jindal
Headquarters: New Delhi
Jindal Steel & Power Limited is not only into steel manufacturing but they are a renowned power generating company too. The business of Jindal Steel & Power is not only limited to its operations in India but most of its business is done internationally too.
Jindal Steel and Power currently reported around 2.3 million tonnes of sales which was the highest in a quarter. In FY22 the company made an annual record of 7.63 million tonnes of sales. Irrespective of standing fifth in the list Jindal Steel can come out as the dominator of the steel industry within a few years.
Rashtriya Ispat Nigam Limited
Chairman cum Managing Director: Deb Kalyan Mohanty
Founder: Deb Kalyan Mohanty
Headquarters: Vizag
Abbreviated as RINL the company was commissioned back in 1992 with a 3.0 MTPA (Million Tonnes Per Annum) capacity of liquid steel. By the year 2015, its capacity grew to 6.3 MTPA and by 2017, the MTPA was 7.3. RINL, though in sixth place is one of the largest producers of bars and rods in India.
This government-owned company has recorded a revenue total of US$ 2.5 billion in the year 2020-21. In August this year, the company recorded its best sales turnover of INR 2,612 crores.
NMDC Steel Limited
Chief General Manager & Co. Secretary: A S Pardha Saradhi
Founder: Government-owned
Headquarters: Hyderabad
NMDC is a government-owned iron and steel manufacturing company in India. NMDC is not only into iron and steel but they are into mining mineral resources like iron, magnesium, and diamond too. NMDC has made a significant contribution to the mineral sector over the past few decades and has been given the status of the public sector under Schedule-A.
NMDC is also a great company for investment because of its spread business structure. The company is doing great in the market and has got a subsidiary company named Sponge Iron India Limited.
VISA Steel
Vice-Chairman & Managing Director: Vishal Agarwal
Founder: Mr. Saran
Headquarters: Kolkata
Revenue earned by VISA back in 2019 was estimated to be $3 billion which is INR 300 crores. Established in 2003, VISA steel became a massive manufacturer of steel and is now one of the top steel companies in India.
VISA Steel has got manufacturing plants located in three places and has got a production capacity of more than a million metric tons per year. Visa Steel might stand eighth in the list of top 10 steel companies in India but the company is one of the leading players in the special steel, ferrochrome, and metallurgical coke business in India.
Pratyusha Srivastava
MESCO Steel
Chairman cum Managing Director: Rita Singh
Founder: Rita Singh
Headquarters: Khurunti, Odisha
Founded in the year 1992, MESCO Steel made enormous growth within a few years and became one of the leading steel companies in India. The revenue earned by MESCO back in 2019 was around $2 billion (INR 200 crores).
MESCO has got two steel plants in India and generates more than a thousand tons of hot metal per day. MESCO could become the number one steel manufacturer in India soon because of their lowest-debt equity ratio among most steel companies in the country.
MESCO steel has received several proposals from different banks for acquiring more plants in India. But, the Director-Finance director of the company said that the company will begin to earn profit within the next few months.
Electro Steel Limited
CEO & WholeTime Director: Sunil Katial
Founder: Umang Kejriwal Family
Headquarters: Kolkata
Electro Steels Limited was founded in the year 1955 with businesses not only in steel but in other metals too. Electro Steel Limited is one of the largest manufacturing companies of ductile iron pipes with a production capacity of 280,000 metric tonnes per annum.
Electro Steel had acquired Vedanta Limited and now they are aiming to increase the rate of productivity and improve profitability. The company is all set to invest a whopping amount of INR 4,000 - 5,000 crores within the next two years to double the capacity of the plant that they have in Bokaro.
Alan Joseph
Conclusion
This was the list of the top 10 steel manufacturing companies of India and the demand for which continues to grow irrespective of the market situation. The World Steel Association forecasts the global demand for steel to reach 1.88 billion metric tons in 2023. The production volume of structural steel across India was estimated at 7.2 million metric tons in 2021. Steel manufacturing continues to contribute highly to India's economic development.
FAQs
Which is the biggest steel company in India?
SAIL (Steel Authority of India Limited) is the largest steel manufacturing company in India.
Who is the world’s largest steel producer?
China’s Baowu Group became the world’s largest steel producer with 115 million metric tons of steel in 2020.
How many steel plants are there in India?
There are 650 mini steel plants in India.
Which are the top steel companies of India?
Some of the top steel companies of India are:
- Tata Steel Limited
- JSW Steel Limited
- Steel Authority of India Limited
- Essar Steel India Limited
- Jindal Steel & Power Limited
- Rashtriya Ispat Nigam Limited
- NMDC Steel Limited
- VISA Steel
- MESCO Steel
- Electro Steel Limited
