Jindal Stainless to Invest ₹900 Crore on Cold Rolling Expansion, Targets 2.67 MTPA Capacity by FY28
Jindal Stainless is investing ₹900 crore to expand its cold rolling capacity from 2.05 million tonnes per annum (MTPA) in FY26 to 2.67 MTPA by FY28, strengthening its downstream capabilities and preparing for rising demand across key industrial sectors.
Jindal Stainless is stepping up investments in downstream stainless steel manufacturing as it looks to expand its portfolio of higher-value products for sectors including automotive, appliances, food processing and industrial applications.
The company has earmarked ₹900 crore for additional cold rolling capacity at its Hisar and Kharagpur facilities, with the expanded capacities expected to be commissioned by the second quarter of FY28.
Jindal Stainless to expand cold rolling capacity
The investment will increase Jindal Stainless’ cold rolling capacity from 2.05 MTPA in FY26 to 2.67 MTPA by FY28, representing an addition of 0.62 MTPA.
The expansion is part of the company’s broader strategy to strengthen downstream capabilities and increase the availability of thinner, higher-value cold-rolled stainless steel products.
According to Managing Director Abhyuday Jindal, the additional capacity will support demand from automotive, appliances, food processing and other industrial applications.
“Our ₹900 crore investment across Hisar and Kharagpur, along with new hot rolled annealing, pickling, and cold rolling facilities at Jajpur, will support a higher-value mix for automotive, appliances, food processing, and industrial applications,” Jindal said in the company’s FY26 annual report.
Cold rolling is a finishing process in which steel is processed without heating it above its recrystallisation temperature. The process enables tighter dimensional tolerances, improved surface finish and enhanced mechanical properties, making cold-rolled stainless steel suitable for applications that require precision and consistency.
Jindal Stainless strengthens downstream operations
The ₹900 crore investment at Hisar and Kharagpur comes alongside other capacity additions planned by Jindal Stainless.
The company is also developing new hot rolled annealing, pickling and cold rolling facilities at its Jajpur facility in Odisha. These projects form part of an earlier announced ₹1,900 crore investment plan.
In March 2026, Jindal Stainless said its new 0.17 MTPA cold rolling capacity at Jajpur was expected to be commissioned by Q2FY27, while a 1.1 MTPA hot rolled annealed pickled line was targeted for Q4FY27.
Together, these investments are intended to strengthen the company’s downstream processing capabilities and enable it to cater to growing demand for specialised stainless steel products.
Once its downstream expansion projects are completed, Jindal Stainless expects its cold rolled annealed pickled capacity to account for around 64% of its total melting capacity. The company is targeting sales of approximately 3.5 MTPA by FY29, representing a double-digit compound annual growth rate over the following three years.
Focus on specialised stainless steel applications
Jindal Stainless is also evaluating a proposed ₹40,000 crore stainless steel manufacturing facility in Maharashtra. The company is currently identifying a suitable site for the project.
The proposed facility is expected to focus on specialised steel grades for emerging and strategic sectors, including hydrogen, nuclear energy, defence, mobility, infrastructure and process industries.
The company is simultaneously focusing on sustainability across its manufacturing operations. During FY26, renewable sources accounted for nearly 47% of electricity consumption at its Hisar and Jajpur facilities, while around 70% recycled scrap was used in its electric arc furnace-based manufacturing process.
Jindal Stainless reported consolidated revenue of ₹42,955 crore in FY26, while EBITDA rose 19.2% year-on-year to ₹5,560 crore. Profit after tax increased 27.4% to ₹3,185 crore, with finished goods sales reaching a record 2.57 million tonnes during the year.
With investments spanning melting, hot rolling, cold rolling and specialised downstream processing, Jindal Stainless’ cold rolling capacity expansion is expected to play an important role in its strategy to move towards higher-value stainless steel products and support growth across India’s expanding industrial and infrastructure sectors.
