The Industry Leader

Mr Naveen Jindal has always believed that success with customers, employees, shareholders and community is the essence of being a good corporate citizen. When he took over the reigns of the Raigarh operations of the Jindal Organization, the company was making losses and lacked proper direction. It was he who decided that they needed to pursue innovative approaches and optimize operational efficiencies. All this with a view to provide ‘total solutions’ for all their stakeholders.

Sponge iron was the backbone of the Raigarh operations. One of the first decisions he took was to bring global economies of scale in their sponge iron production. Today, Mr Naveen Jindal is proud of the fact that they have the largest coal-based sponge iron manufacturing capacity in the world and are one of the lowest cost producers of sponge iron.

At the same time, he also realized that effecting reduction in costs was the guideline for long-term growth and profitability. At Raigarh, the commissioning of the new blast furnace would not only enhance their steel-making capacities but also reduce their costs of production. And continuing the path of forward integration, he took the decision to set up the Rail and Universal Beam mill,

which is being manufacturing the world’s longest rails in the country and also parallel flange beams and columns in larger sizes for the first time in India. This would help them gain entry in the highly competitive global markets.

Realizing the need to reduce inventory costs and be able to market their finished products at competitive prices, Naveen took the decision to acquire coal and iron ore mines, thereby making them self-sufficient in key raw materials, essential for steel manufacture.

Therefore it was not a surprise for Naveen when the company was identified as one of the top emerging companies in the country by India's leading economic newspaper, The Economic Times and as the top twenty invester friendly companies in the year 2004 by Business Today. At Raigarh, they are achieving economies of scale that are increasingly making Jindal Steel the preferred choice with the customers. At JSPL they continue to seek new horizons that complement the market strengths, offer growth potential and leverage their existing assets for future growth and expansion.