JSW Cement

JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and founded by Om Prakash Jindal. The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa.

History

1982–1994

The JSW Group was founded in 1982 when Jindal acquired a re-rolling mill located in Tarapur, Maharashtra, near Mumbai, from Piramal Steel. Following the acquisition, the group renamed it ''Jindal Iron and Steel Company (JISCO)''. Subsequently, in the same year, the group established its first steel plant in Vasind, near Mumbai.

1994–2005

Jindal Vijayanagar Steel Limited (JVSL) was established in 1994. Situated at Toranagallu in the Bellary–Hospet region of Karnataka, this plant strategically positioned itself in the heart of the high–grade iron ore belt, sprawling across 3,700 acres of land. In 2004, JSW made a strategic move by acquiring Salem Steel Works, adding to its portfolio. The year 2005 witnessed a pivotal moment in group's history when JISCO and JVSL merged to create JSW Steel.

In 1994, JSW Energy Limited was established as power company, focusing on power generation, transmission and trading.

In 1999, JSW Infrastructure was founded to construct and operate airports, shipyards, townships, roads and rail connectivity, inland waterways, water treatment plants, special economic zones and other infrastructural facilities.

2008–2014

In 2008, JSW Group ventured into a rebar joint venture in Georgia. The acquisition of an integrated steel plant at Dolvi, Maharashtra, in 2010 added to their steel production portfolio. And, the acquisition of Welspun Maxsteel in 2014 marked as a diversification in the group's history.

In 2009, JSW Group entered the cement business by establishing JSW Cement and established production facilities in various locations including Vijaynagar, Nandyal (Andhra Pradesh), Dolvi, Jaipur, Shiva (Odhisha), Salboni (West Bengal), and Fujairah (United Arab Emirates).

2018–2020

In 2018, JSW Group purchased Italy's Aferpi. Also, investments were made in a greenfield Texas plant and the takeover of bankrupt Bhushan Power. In 2020, JSW's purchase of Bhushan Power faced legal challenges, but the group pressed on, acquiring stakes and expanding its presence.

On 2 May 2019, JSW Group established JSW Paints with a total investment of , with 250 crore of equity investment and a ₹350 crore debt investment from Axis Bank.

2021–2025

In 2021, JSW Steel Italy acquired a stake in GSI Lucchini and set a CO2 reduction target for 2030. In 2022, they planned the merger of JISPL and CSSL subsidiaries and secured approval for a greenfield steel plant in Andhra Pradesh. In 2013, the group entered into a collaboration with Japan's JFE Holdings in the electrical steel sector. In December 2023, JSW Infrastructure announced plans to acquire a majority stake in PNP Port for ₹270 crore.

In April 2024, JSW Steel raised a $900 million syndicated loan from a consortium of eight foreign banks (Singapore's DBS Bank, France's BNP Paribas, UK's HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank) to refinance debt facilities and repay expensive loans ahead of schedule.

In December 2024, JSW Group entered the non-ferrous metals sector by adding copper to its metal portfolio through the acquisition of two Jharkhand copper mines from Hindustan Copper. As of March 2025, the group plans to build a 500,000 metric ton copper smelter in Odisha by 2028-29, using copper concentrate from Peru and Chile.

Financials

The group witnessed growth, expanding from a company worth in 1993 to crore in 2008, and further expanding to become a company valued at by 2023.

Corporate affairs

Workplace culture

During 2023, the JSW Group increased its recruitment of female engineers through the Graduate Engineering Trainee (GET) program, nearly tripling the number compared to the previous year. The group has brought onboard over 2,300 young GETs, with nearly 600 of them being women, and has established a goal to reach a 30% representation of women in the program over the next two years.

Group companies

Listed

* JSW Steel – JSW Steel has one of the world's largest single blast furnaces with a capacity of 4.8 MTPA. JSW's overall installed capacity is 35.7 MTPA.
*JSW Energy – JSW Energy has a power generation capacity of 6564 megawatts (MW), out of which 3158 MW is thermal power, 1391 MW is hydropower, 1.75MW pumped storage plant and 10 MW solar power. It plans to significantly increase its capacity from 7.3GW to 20GW by March 2030 by solar and wind-based power projects.
*JSW Infrastructure – Based in Mumbai, its primary business interests are in the development of infrastructure for ports, roads, and rail connectivity. JSW Dharamtar Port and JSW Jaigad Port both ports are operated by JSW Infrastructure. The company has a cargo handling capacity of 153MT. In FY22, the company recorded a profit of ₹318 crore from a revenue of ₹2,273 crore. On 3 October 2023, JSW Infrastructure debuted at a premium of 20.2% on Indian stock market via IPO. JSW Infrastructure is upgrading the Salav Port. JSW Infrastructure is building two greenfield ports at Nangaon and Keni. As of February 2024, the company operates 10 ports and terminals in India and one terminal in the UAE, with a total operational capacity of 170 million tonnes per year. According to the recent statutory filings, the promoter firm Sajjan Jindal Family Trust sold equity shares of the company worth ₹1200 crores to comply with SEBI’s minimum public shareholding norms.
*JSW Holdings – JSW Holdings is a Non-Banking Financial Company (NBFC) that forms the investment arm of the JSW Group. The company makes strategic investments in new ventures promoted by the JSW Group.

Unlisted

*JSW Cement – Currently, it has a capacity of 20.6 MTPA. The company is currently engaged in initiatives to develop zero clinker cement, a type of cement that eliminates the need for limestone mining. Instead, it will utilize fly ash and ground-granulated blast-furnace slag, combined with a chemical additive, to produce concrete.
*JSW Defence and Aerospace – The company was established in 2024 by acquiring a 51% stake in Gecko Motors Private Ltd., which specializes in extreme off-road vehicles. Following the acquisition, Gecko Motors has been rebranded as JSW Gecko Motors. The company was awarded a defence ministry contract to produce 96 Specialist Mobility Vehicle (SMV) N1200 ATOR in June 2023 after trials in July 2021. These manufacturing of the vehicles commenced in January 2024 in Chandigarh, and delivery concluded by June 2024. The vehicle, an Indianised variant of SHERP N1200, has an in-service designation was JSW Kapidhwaj. The vehicle participated in Delhi Republic Day parade 2025. In November 2024, Shield AI partnered with JSW Defense to manufacture the V-BAT drones in India. JSW shall be investing $90 million over the next 2 years of which $65 million will be invested within 12 months to establish a "global compliance programme", manufacturing facility, technology licensing and train parsonnel.
*JSW Paints – There are two manufacturing facilities under its operation, with one dedicated to industrial coatings located in Vasind (Maharashtra), and the other focused on decorative coatings situated in Vijayanagar. The combined capacity of these two plants is 170,000 kilolitres.
*JSW Port Logistics - A wholly owned subsidiary of JSW Infrastructure, dealing with warehousing, and container freight stations.
*JSW Ventures – JSW Ventures is the venture capital arm of JSW Group which invests in early-stage Indian startups.
*JSW Realty – It is the real-estate arm of the group, focusing on sustainable residential and commercial projects.
* JSW Sports – Through JSW Sports, the group also owns the Indian Premier League cricket team Delhi Capitals and the Women's Premier League team Delhi Capitals Women (in partnership with GMR Group), the SA20 cricket team Pretoria Capitals, the Indian Super League football club Bengaluru FC, the Hockey India League team Soorma Hockey Club, and the Pro Kabaddi League team Haryana Steelers.
*JSW One Platforms – Launched in 2021, it comprises two entities: ''JSW One MSME'' and ''JSW One Homes''. The former is an online platform for MSMEs, providing an industrial materials such as steel, welding consumables, TMT bars, and cement. On the other hand, the latter is a digital platform that specializes in end-to-end home construction solutions for individual real estate companies and builders. In May 2025, the platform raised around $40 million in a funding round led by Principal Asset Management, OneUp, JSW Steel, and other investors, bringing its valuation to $1 billion. Currently, it serves over 500,000 building and manufacturing MSMEs across the country.
*JSW Neo Energy - In 2021, JSW Energy transferred its renewable energy portfolio to JSW Neo Energy. This included the transfer of 100% equity shares in JSW Renew Energy (Kar), JSW Renewable Energy (Dolvi), and JSW Energy (Kutehr). In December 2024, the company acquired a 4,696 MW renewable energy platform from O2 Power Pooling Pte, owned by EQT Infrastructure and Temasek, for ₹12,468 crore. The platform has a ₹3.37/KWh average tariff and a 23-year remaining life, with capacities across seven Indian states.

Joint-ventures

* JSW MG Motor India, on 30 November 2023, China's SAIC Motor and the JSW Group formed a strategic joint venture, resulting in the latter gaining a 35% stake in MG Motor India through this partnership. In February 2024, the group inked a MoU with the Government of Odisha for a Integrated EV and EV Battery Manufacturing Project in Cuttack and Paradeep. The project includes a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter, and related component units. The JV aims to manufacture 1 million electric cars in India by 2030, starting with the domestic market and later expanding to international sales. In October 2024, JSW Green Mobility, the EV subsidiary of the JV, has been allotted 636 acres in Aurangabad Industrial City by the Government of Maharashtra. The company will use 546 acres for an electric car manufacturing unit and 90 acres for commercial vehicle production.

Research and development

* JSW School of Public Policy (JSW-SPP), Indian Institute of Management Ahmedabad – The institute was inaugurated in February 2023 with its architectural design led by Rahul Mehrotra.
* JSW Technology Hub for Manufacturing of Steel (JSW-TH), Indian Institute of Technology Bombay – The technology hub is actively engaged in several research domains. These include decarbonization, green hydrogen, and solid Waste Management.
* JSW Centre for the Future of Law, National Law School of India University – In 2024, JSW Group awarded a grant to renovate and expand a core academic block of the university and to establish an interdisciplinary policy research centre.
* JSW Center of Excellence for Smart Grid Technologies, M S Ramaiah Institute of Technology – In July 2024, the group signed a Memorandum of Understanding (MoU) with MS Ramaiah Institute of Technology and Sharika Smartec to establish the Center of Excellence for Smart Grid technologies at the MSRIT campus in Bengaluru.

Philanthropy

JSW Foundation is the philanthropic arm of JSW Group, set up in 1987. The foundation works in the field of education, skill building training, healthcare and social development domains. Besides that, the Foundation is actively involved in restoration projects, including the preservation and restoration of significant archaeological ruins like Hampi (and setting up Hampi Art Labs), Mughal Gardens of Kashmir ( Shalimar Bagh and Nishat Bagh), Keneseth Eliyahoo Synagogue, Maragondanahalli Lake in Bangalore, David Sassoon Library, Shiv Khori, Gulmarg Ski Resort etc.

COVID-19

In May 2020, right at the outset of the COVID-19 pandemic in India, JSW Group pledged more than ₹100 crore to aid the relief initiatives led by PM CARES Fund and other State governments in their battle against the COVID-19 crisis.

During the second wave of COVID-19 pandemic in Karnataka in 2021, JSW Group established a temporary 1,000-bed COVID-19 hospital in Ballari, located near its township. Also, the company installed a dedicated 5 km-long oxygen supply pipeline from its Vijayanagar steel plant to directly serve patients at the new hospital under construction. In a related effort, the group repurposed its multi-speciality Jindal Sanjeevani Hospital near Dolvi unit in Maharashtra to function as a COVID-19 treatment facility.

Scholarships

Udaan scholarships

The JSW Udaan Scholarships supports students from economically weaker sections of India in paying university tuition fees. Eligible candidates from families earning below lakhs annually can receive up to , which is directly deposited into their bank accounts.

Gallery

References

External links

*

Further reading

*
*
*
*
*
*
*
*
*
*
*
*
*

{{Authority control

Companies based in Mumbai
Conglomerate companies established in 1982
1982 establishments in Maharashtra
Indian companies established in 1982
Indian Premier League franchise owners
Women's Premier League (cricket) franchise owners
Privately held companies of India
Family-owned companies of India