Top & Best Steel Companies in India

Steel is one of the critical resources required in the manufacturing and construction sector. Everything from buildings to cars needs steel. It is known for its quality of adding strength and structure to designs.

Identifying the top steel companies in India is the right step for any organization in the manufacturing sector. The production of steel follows multiple steps.

The display works through methods of Blast furnace or Electric arc furnace techniques. Stringent measures are in place to effectively mix iron, carbon, and other minerals. In India, the steel industry has been around ever since the ancient ages.

Today, India is the biggest steel manufacturer in the world. There are a lot of brands available in the steel industry. Let’s look at the top 10 to help you narrow down your purchase.

Top Steel Manufacturing Companies in India

1. Tata Steel

The Tata is a brand synonymous with steel manufacturing. They are one of the premier organizations producing steel in the country. Set up in 1907 as Asia’s first integrated steel manufacturing plant, it boasts a reputation for reliability. It provides customers with affordable, low-cost steel throughout the year. 

History:

Tata Iron and Steel company of TISCO works out of Jamshedpur in India. Jamshedji Tata and Sir Dorabji Tata founded the company. They started producing steel in 1912 and have never looked back since. Tata steel made progress during the first world war as production needs soared. 

Achievements:

During the early 1900s, India was under British rule. It was unlike any other feat to have the biggest steel producer in the country by 1939. They have made continued progress by rapidly expanding.

It is the best steel company in India ever to exist. They incorporated Burma Shell to form The Tinplate Company of India LTD. To build the biggest steel company in India and abroad, they have made numerous acquisitions like NatSteel, Millennium Steel, Corus, Tayo rolls, and much more.

2. JSW Steel 

JSW Steel LTD is a multinational steel manufacturing business. They are part of the JSW group of India. It is present in Mumbai. They have a capacity of 18 MTPA in the production of steel.

It was started in 1982 by Sajjan Jindal, who is the chairman. They have expertise in the manufacture of Steel, Flat steel products, long steel products, wire products, and plates. Their revenue was INR 80,431 Crore in the fiscal year 21-22. 

History:

JSW started in 1982 as the Jindal group got complete access to Piramal Steel LTD. Their first production steel mill was in Tarapur, Maharashtra. It was named Jindal Iron and Steel Company or JISCO. Soon after, the plants started operations in Karnataka. Their Ballari plant in Karnataka is the world’s sixth-largest steel plant. 

Achievements:

JSW became the second-largest private steel manufacturer after it acquired ISPAT steel. They have rapidly expanded across the world. They have mining assets in countries like the Republic of Chile, the United States, and Mozambique. JSW also has a joint steel venture in Georgia. They offer employment to over 13,000+ people. 

3. Steel Authority of India LTD. (SAIL)

SAIL or Steel Authority of India LTD. is a public steel manufacturing unit. They are one of the best steel companies in India. It works under the ownership of the Ministry of Steel, Government of India. The public sector unit is the largest steel producer in India and the 20th world. 

History:

SAIL was incorporated in 1973 but traced back to 1954. It started as Hindustan Steel LTD or HSL. Initially, there was a single plant in Rourkela.

The Iron and steel ministry is responsible for initiating the Bhilai and Durgapur plants for SAIL. It is one of the top 10 stainless steel manufacturers in India. Later on, the business starts with plants in Bokaro and Burnpur.

SAIL thus became a holding company for all the different plants set up across the nation. In 1972 the company did the process to become an operating company. 

Achievements:

There are five steel plants set up under the banner of SAIL. There are unique steel production plants, ferroalloy plants, and refractory plants. These are separate from the five original steel production units.

Since it is a government-run unit, collaboration is quite efficient between different sectors. These have led to the development of mining, power plants, cement, and other industries. They have an annual turnover of INR 68,452 crores. The production power of all the units is 16.3 million metric tonnes of steel. 

4. ESL or Vedanta Steel 

Vedanta is a multinational mining company with its headquarters in Mumbai. Their primary operations revolve around Iron ore, gold, and aluminum mines.

The company initiated its steel business in 2018 by acquiring a 90% stake in the ESL Steel company. The vision is to expand their Bokaro mining operations by foraying into the steel industry. They want to become one of the top steel brands in India.

History: 

Vedanta started in the Sterlite industry in the 1980s. However, ESL was a public sector unit established in 2006 with their plant in Bokaro, Jharkhand. The plant currently works at a capacity of 1.5MT of production per annum. 

Achievements:

The company has recently expanded its production output. They are offering ductile iron pipes, TMT Bars, and Wire Rods. They have established a presence by bringing International expertise and solutions from different manufacturers. 

Vedanta has turned ESL into a profitable business within one year of acquisition. The plant has the potential to increase to 2.5MT per annum production. 

5. Hindalco Steel 

Hindalco industries LTD is a part of the Aditya Birla Group. The business manufactures Aluminum and Copper. They have their headquarters in Mumbai, Maharashtra. The industry has annual revenue of INR 133,207 crore and employs over 20,000 people. 

History:

The Hindalco industries came into the business in 1958. They began production in 1962 in Renukoot, Uttarakhand. They are highly proficient in the aluminum industry. The output from the plants was 20 thousand metric tonnes per year of aluminum and 40 thousand metric tonnes per annum of alumina. 

Achievements:

The Hindalco group has made many acquisitions within India and abroad. It includes the Indian Aluminium Company, Alcan Inc’s Alumina production plant. Abroad they have acquired Novelis in Canada and Aleris corporation from the USA. 

6. NMDC

NMDC, or National Mineral Development Corporation, is a government-owned mineral production unit. They have stakes in the Iron and steel industry of India. They are one of the best steel companies in India. They are involved in the exploration of Iron ore, copper, rock phosphate, limestone, and much more. NMDC’s status as one of the biggest steel companies in India comes from its Nagarnar steel plant. 

History:

The NMDC was set up in 1958 and worked on different avenues of mining. It has recently dipped its hands in the steel manufacturing industry. The plans for setting up the plant started in 2009-2010. The Nagarnar plant came into existence in 2021. 

Achievements:

The plant comes with a capacity of 3 MTPA of steel production. The 1800-acre plant comes with all the required facilities to sustain operations. They work based on the latest Hismelt technology. NMDC is now a contender for the “India top steel company” award. 

7. Uttam Galva Steels

Uttam Galva Steels is one of the biggest steel companies in India. They are a top Indian steel company that manufactures cold-rolled steel and galvanized steel. Their operations rely on procuring hot rolled steel and processing it into galvanized steel and color-coated coils. 

History:

The company was initiated in 1985 as a steel manufacturing unit by Sh. Rajendra Miglani. They have headquarters in Nagpur, Maharashtra. The group also has two more plants in India. These are namely Uttam Galva Metallics LTD and Uttam Value Steels LTD. These are available in Wardha, Maharashtra. 

Achievements:

The Uttam group plans to double its production capacity at the Wardha plants soon. They will soon have an integrated steel plant in Saturday, Maharashtra. Uttam Galva steel-faced serious debt issues from the State Bank of India. The stock stops from being traded in November 2020. Recently the stock market was back up on NSE. 

8. Jindal Stainless Limited

Jindal Stainless or JSL is India’s top 10 stainless steel manufacturer in India. It is the largest one to exist in this sector. Their plant is in Odisha state, which is present on the east side of the country. 

History: 

The JSL is a subsidiary of the OP Jindal group. The first plant was set up in Hisar by Om Prakash Jindal in 1970. It is now known as JSHL. The group holds multiple stainless steel plants across India. They all got incorporated as Jindal Stainless Limited in 1980. 

Achievements:

JSL has dipped its hands in the international steel-making industry through multiple acquisitions. In 2004 JSL Acquired PT. Maspion in Indonesia. They also have a joint venture in Spain called IberJindal with Fagor Industrial. Currently, they have a capacity of 1.6 MT of production per annum. They have consistently reported profits on their platform. In 2019 JSL reported earnings of INR 139 Crore. 

9. Jindal Steel & Power 

Jindal Steel and Power LTD, or JSPL, is one of the top steel brands in India. They are also famous for their involvement in the power sector. The company has its headquarters in New Delhi. It is also a part of the OP Jindal group conglomerate.

They have a diverse set of product offerings for customers. The products range from Rails, Parallel Flange beams, Columns, Plates and Coils, and Wire rods. They also provide semi-finished products to their consumers. 

History: 

Jindal Steel and Power is the incorporation of multiple stakeholders under one banner. The project for this started in 1979. JSPL’s steel holdings subsidiaries are in Mauritius, Bolivia, Africa, and other areas. It makes them one of the biggest steel companies in India and abroad. They have a functional power plant in Raigarh, Chhattisgarh. 

Achievements:

JSPL has a turnover of over INR 40000 Crores. It is one of the best steel companies in India. They are the third-largest producer of steel in India. They sell sponge iron, mild steel slabs, and much more. They have over 20,000 employees over three continents. In 2020, JSPL produced 8.6 MT of steel. 

10. Tata Steel BSL

The Tata Steel BSL was previously known as Bhushan Steel Limited. They used to be the largest manufacturer of auto-grade steel in India. If you look at India’s top steel company in the past, then Tata Steel BSL will come up. They have been making significant investments to increase their steel production capacity. 

History: 

Tata Steel BSL has been functioning since 1987, with its headquarters in Kolkata, West Bengal. Bhushan Steel Limited was facing insolvency issues due to a debt of INR 10,686 crores. It led to the consolidation with Tata Steel in November 2018. Tata got access to the BSL holdings through their Bamnipal subsidiary.t 

Achievements:

Currently, this arm of the Tata steel group employs 5000+ people annually. They, however, have the massive task of clearing a huge debt now. Multiple plants are running under the Tata BSL banner. There are production units in Maharashtra, Odisha, and Uttar Pradesh. Presently they are the sixth-largest steel producer in India. 

Some FAQs about the top steel brands in India: 

Before making a significant investment, there might be a few doubts in your mind. Here are some of the frequently asked questions about India’s top 10 stainless steel manufacturers. 

Conclusion:

The top steel manufacturing companies in India drive the economy of the country. The business lies at the heart of the production. It has been around ever since the ancient eras. In the 21st century, the sector has a definite structure and lots of tenacity.

Established businesses in the industry like Tata, JSW, Jindal, and others are key players. India’s top steel companies list tries to narrow down your options. Investments in this sector can be a well-sought decision.