A Brief Introduction
Jindal Steel and Power Limited (JSPL) is steel and Energy
Company based in New Delhi, India and a division of Jindal Group
conglomerate. With an annual turnover of over
US$4 billion, Jindal Steel & Power Limited (JSPL) is a part of about US$ 12
billion diversified O. P. Jindal Group.The technology-driven group employs over 50,000 people
across the globe.
JSPL is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. Mr. Naveen Jindal, the youngest son of the late Shri. O P Jindal, drives JSPL and its group companies Jindal Power Ltd, Jindal Petroleum Ltd., Jindal Cement Ltd. and Jindal Steel Bolivia. The company professes a belief in the concept of self-sufficiency. The company produces steel and power through backward integration from its own captive coal and iron-ore mines.
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| The Main Products - Steel and Power |
The Origin
Jindal Steel and Power is a part of the Jindal
Group, founded by O. P. Jindal, a first generation entrepreneur who started an indigenous single-unit steel plant in Hisar, Haryana in the year 1952. In
1964, he commissioned a pipe unit, Jindal India Limited followed by a large
factory in 1969 under the name of Jindal Strips Limited, one of the earlier incarnations of his business empire. He also started the Company Orbits Strips Limited which was renamed as Jindal Steel and Power in 1998.
Shri Jindal envisioned a self-reliant India in every sector of industry. To fructify this vision, he gathered the latest technical know-how from around the world and strengthened his industrial establishment. He also believed that without the upliftment of weak and backward sections of the society, a nation can never prosper. Thus, he spent a lot of time in taking steps to alleviate poverty and boost the backward sections of the society.
After Shri O.P. Jindal's death in 2005, much of his assets were transferred to his wife, Savitri Jindal. Jindal Group's management was then split among his Four Sons with Naveen Jindal as theManaging Director of Jindal Steel and Power limited. His elder brother Sajjan Jindal, is currently the head of ASSOCHAM, an influential body of the Chambers of Commerce, and the head of JSW group.
HISTORY
The Jindal Group has emerged as one of India's most dynamic business Organizations over the last three decades. It has grown into a multi-national and multi-product steel
conglomerate with business interests spanning across mining, power, industrial
gases, port facilities and of course steel making.It has not only diversified into power
generation but also into petroleum, infrastructure, diamond and high value
metals & mineral exploration. Presently the group has manufacturing outfits
across India, US, UK and Indonesia and mining concession in Chile, Bolivia,
Indonesia & Mozambique and marketing representative's offices across the
globe.
Growth has been a way of life for the Jindal Group and its motto all along has been 'Growth with a social conscience.' The group has already announced its intention to set up Greenfield steel plants and power plants in various states.
Vision Statement
'To be a globally admired
organisation that enhances the quality of life of all stakeholders through
sustainable industrial and business development.'
Mission Statement
We aspire to achieve business
excellence through:
- The spirit of entrepreneurship and innovation
- Optimum utilization of resources
- Sustainable environment friendly procedures and practices
- The highest ethics and standards
- Hiring, developing and retaining the best people
- Maximising returns to stakeholders
- Positive impact on the communities we touch\
The CORE Values
- Passion for People
- Business Excellence
- Integrity, Ownership & Sense of Belonging
- Sustainable Development
The Key Strategic GOALS are:
- Reduction in cost without compromising product quality
- Meet the satisfaction of customers and widen market base through emphasis on special steel
- Adhering to environmental statutory norms, conservation of resources and waste management
Products Offered
CAPACITY of PRODUCTS
FINANCIAL POSITION
ORGANISATIONAL STRUCTURE
JSPL has a hierarchical structure with 24 different levels:-
Executive Vice Chairman & M.D.
Vice Chairman & CEO
Deputy Managing Director
Executive Director
President
Executive Vice President
Senior Vice President
Vice President
Assistant Vice President
Senior General Manager
General Manager
Senior Deputy General Manager
Deputy General Manager
Assistant General Manager
Senior Manager
Manager
Deputy Manager
Assistant Manager
Executive Engineer
Management Trainee Graduate Engineer Trainee
Junior Executive Assistant Engineer/Overman
Officer Senior Foreman/Trainee Engineer
Senior Assistant Foreman/Senior Supervisor
Assistant Assistant Foreman/Supervisor
Such a structure leads to Bureaucracy as we have studied in Principles of Organisation Management.
FUTURE PLANS
CORPORATE SOCIAL RESPONSIBILITY
JSPL's CSR Policy aims at bringing about a radical transformation in the quality of life of people living in and around the operation areas of the company through positive intervention in social upliftment programs. Its key areas of focus are Health, Education, Woman Empowerment, Livelihood, Livestock Care, Drinking Water and Sanitation, Youth and Sports and Infrastructural Development.
JSPL's CSR strategy includes-
- Development of Model Villages
- Government, Corporate and Public participation
- Address situational needs and demands of the villagers
To bring about a positive difference, JSPL has adopted 40 villages and contributes to the development of the regions through a more holistic effort. Amenities such as hospital, school, auditorium, etc. built here offer a better lifestyle.
OBSERVATIONS
JSPL is driven by a strong set of values and its motto has all along been 'Growth with a Social Conscience.' The Company's strength has been the dynamic and aggressive approach of its leaders. They are the pioneers of various new technologies in India. The company has grown by diversifying into various sectors such as Petroleum, Coal Mining, etc.
JSPL has been rated as the Second Largest Value Creator in the World by BCG, and JSPL's financial mettle can be seen from the strong balance sheet of the recent years. With an escalation of 18.31% in total income and 4.66% in Profit After Tax, The books show strong financials.
