Top 10 Steel Companies in India 2023

This is about the List of Top 10 Steel Companies in India. As per the Ministry of Steel, India is the second-largest crude steel producer globally, with a capacity of over 138 million tonnes.

List of Top Steel Manufacturers in India

There are 07(Seven) Central Public Sector Enterprises (CPSEs) under the administrative control of Ministry of Steel. The private sector of the Steel Industry is currently playing an important role in the production and growth of the steel industry in the country

Here are the Top steel companies of India in the steel industry in India. The Rank list is based on sales in the year 2019.

1. Tata Steel Ltd

Tata Steel was established in India as Asia’s first integrated private steel company in 1907 Owned by Tata Group. The companies crude steel capacity across Indian operations is nearly 19 MnTPA. Tata Steel is the second-largest steel producer in Europe with a crude steel production capacity of over 12.1 MnTPA. It is the Largest steel companies of India

  • Sales₹ 2,39,412 Cr.
  • Operating profit₹ 22,230 Cr.
  • Net profit₹ 886 Cr.
  • Sales last year₹ 2,43,353 Cr.
  • EBIDT last year₹ 33,504 Cr.
  • Total Capacity: 34 MnTPA .
  • Capacity in India: 19.4 MnTPA
  • Capacity Overseas: 14.6 MnTPA

Tata Steel acquired Bhushan Steel Limited in the year 18-19. Tata Steel group acquired the steel business of Usha Martin Limited through one of its subsidiaries. The company is biggest in the list of top 10 steel companies in India.

  • Total Assets₹ 2,85,396 Cr.
  • Reserves₹ 1,01,861 Cr.
  • Debt₹ 84,893 Cr.
  • Debt to equity0.82
  • Dividend yield2.86 %
  • Face value₹ 1.00
  • ROE 5Yr15.4 %
  • ROCE12.6 %
  • ROCE 3Yr18.6 %
  • Return on equity7.28 %

Tata Steel has manufacturing units at Jamshedpur, Jharkhand and Kalinganagar, Odisha with production capacities of 10 MnTPA and 3 MnTPA, respectively. In Financial Year 2018-19, the Company initiated a 5 MnTPA expansion project at Kalinganagar to enhance its cumulative capacity to 8 MnTPA.

2. JSW Steel Ltd

JSW Steel is a flagship company of the JSW Group and the second-largest steel companies of India. The Company has a steel making capacity of 18 MnTPA . Ranked 7 th amongst Top 34 World Class Steelmakers by World Steel Dynamics. It has a large scale presence in both India and international.

Starting with a single plant in 1982, now JSW Steel is India’s leading manufacturer of value-added and high-grade steel products. The Company has plants in Karnataka, Tamil Nadu, and Maharashtra.

  • Sales₹ 1,70,087 Cr.
  • Operating profit₹ 21,130 Cr.
  • Net profit₹ 5,728 Cr.
  • Sales last year₹ 1,65,960 Cr.
  • EBIDT last year₹ 19,500 Cr.
  • Total Capacity: 18 MnTPA .

JSW Steel Coated Products Limited is India’s leading manufacturer and exporter of coated steel with a capacity of 1.8 MTPA. A 100% subsidiary of its parent company JSW Steel Ltd. The Company is second in the list of top 10 steel companies in India based on the turnover.

Read More JSW Steel Ltd | Subsidiaries

  • Total Assets₹ 2,10,539 Cr.
  • Reserves₹ 65,394 Cr.
  • Debt₹ 80,820 Cr.
  • Debt to equity1.23
  • Dividend yield0.44 %
  • Face value₹ 1.00
  • ROE 5Yr19.4 %
  • ROCE8.33 %
  • ROCE 3Yr17.3 %
  • Return on equity5.64 %

3. Steel Authority of India Ltd

Steel Authority of India Limited (SAIL) is a Government steel-making company in India and one of the seven Maharatna’s of the country’s Central Public Sector Enterprises. It is the Top Government steel companies in India. The company is third in the list of top 10 steel companies in India based on the revenue.

  • Sales₹ 1,04,778 Cr.
  • Operating profit₹ 7,387 Cr.
  • Net profit₹ 1,585 Cr.
  • Sales last year₹ 1,04,448 Cr.
  • EBIDT last year₹ 9,586 Cr.
  • Total Capacity: 21 MnTPA .

SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials.

SAIL manufactures and sells a broad range of steel products and it is one the best steel company in India.

  • Total Assets₹ 1,30,782 Cr.
  • Reserves₹ 50,616 Cr.
  • Debt₹ 30,773 Cr.
  • Debt to equity0.56
  • Dividend yield1.69 %
  • Face value₹ 10.0
  • ROE 5Yr10.5 %
  • ROCE5.89 %
  • ROCE 3Yr13.6 %
  • Return on equity3.57 %

4. Essar Steel India Ltd

Essar Steel is known for its high quality of flat steel products. The company focuses on high value-added grade steels and has developed over 300 grades of flat steel for different applications. Essar Steel is a 10 MTPA integrated steel producer.

It caters to a wide section of industry segments that include auto, shipbuilding, white and yellow goods, general engineering, power plants, hydrocarbon industry, pipe making, defense among others. The company is fourth in the list of top 10 steel companies in India based on the total sales.

  • Total Capacity: 10 MnTPA .

Essar Steel lays great emphasis on sustainability and is aligned with the World Steel Association’s (WSA) sustainability indicators. The company is a climate action member and signatory to the Sustainability Charter, WSA and has been recognized for Safety & Health Excellence thrice over the last five years from the Association.

Essar has attained the benchmark of being a zero-waste company by engaging in activities like efficient rainwater harvesting and controlled water usage, better slag, and effluent gas management.

5. Jindal Steel & Power Ltd

JSPL Jindal Steel & Power Limited, a part of the USD 22 billion diversified O. P. Jindal Group, is a leading Indian Steel manufacturer and Power producer. The company is fifth in the list of top 10 steel companies in India based on turnover.

JSPL’s business operations span across the states of Chhattisgarh, Odisha, and Jharkhand in India, where it operates some of India’s most advanced steel manufacturing and power generation capacities of a global scale.

  • Sales₹ 52,254 Cr.
  • Operating profit₹ 9,124 Cr.
  • Net profit₹ 2,895 Cr.
  • Sales last year₹ 53,212 Cr.
  • EBIDT last year₹ 9,963 Cr.
  • Total Capacity: 11 MnTPA .
  • Capacity in India: 8.6 MnTPA .
  • Capacity in Oman: 2.4 MnTPA .

JSPL has created cutting-edge capacities to produce upto 9.95 Million Tonne Per Annum (MTPA) Iron catering to its 11.6 MTPA Liquid Steelmaking capacities across three locations in India and abroad. JSPL is one of the best steel company in India.

The company has a well-spread out installed finished steel capacity of 6.55 MTPA prudently spread over Bar Mills, Plate Mills, Rail and Universal Beam Mill (RUBM), Medium & Light Structural Mill (MLSM), and Wire Rod Mill.

  • Total Assets₹ 69,427 Cr.
  • Reserves₹ 38,606 Cr.
  • Debt₹ 13,046 Cr.
  • Debt to equity0.34
  • Dividend yield0.29 %
  • Face value₹ 1.00
  • ROE 5Yr7.79 %
  • ROCE14.2 %
  • ROCE 3Yr17.4 %
  • Return on equity10.6 %

JSPL’s captive iron ore mines at Tensa, Odisha have a production capacity of 3.11 MTPA. The company owns and operates combined power generation capacities of 5034 MW including the 3400 MW O.P. Jindal Super Thermal Power complex at Tamnar, Chhattisgarh.

6. Rashtriya Ispat Nigam Ltd. (RINL)

Visakhapatnam Steel Plant (VSP) is a 7.3 MTPA plant. It was commissioned in 1992 with a capacity of 3.0 MTPA of liquid steel. The company subsequently completed its capacity expansion to 6.3 MTPA in April 2015 and to 7.3 MTPA in December 2017. RINL is one of the major players in the country for Long Products.

The Company is having one subsidiary, viz. Eastern Investment Limited (EIL) with 51% shareholding, which in turn is having two subsidiaries, viz. M/s Orissa Mineral Development Company Ltd (OMDC) and M/s Bisra Stone Lime Company Ltd (BSLC). The Company has a partnership in RINMOIL Ferro Alloys Private Limited and International Coal Ventures Limited in the form of Joint Ventures with 50% and 26.49 % shareholding respectively.

  • Total Sales: Rs.20844 crore
  • Total Capacity: 7.3 MnTPA .

RINL, with an exclusive product mix of longs, is the largest producer of “Bars and Rods” in the country with a market share of 9.5% in 2018-19 (Source: JPC) and has recorded an annual turnover of Rs.20,844 crore (Prov.) in 2018-19. The company is the sixth-largest in the list of top 10 steel manufacturing companies in India based on the capacity.

The products of RINL include Rebars, Wire Rods, Rounds, Structurals, Blooms & Billets, and Pig Iron and the company also markets the resultant by-products like coal chemicals (Ammonium Sulphate, Benzol products, etc.) and Slag. RINL products are known for their quality.

7. Electrosteel Castings Ltd.

As the pioneer of introducing Ductile Iron Pipes in India, the Electrosteel Group has established itself as an international brand that values commitment to excellence. Electrosteel Steel is one of the best steel manufacturing companies in India.

  • Sales₹ 7,193 Cr.
  • Operating profit₹ 695 Cr.
  • Net profit₹ 296 Cr.
  • Sales last year₹ 7,276 Cr.
  • EBIDT last year₹ 827 Cr.
  • Total Capacity: 7.3 MnTPA

With five decades of experience, Electrosteel Castings has been fulfilling its vision of ‘Carrying life to people, safe drinking water for all.’

Being the country’s leading pipeline solutions provider, Electrosteel has been providing clean drinking water to millions – a promise of quality that has led it to achieve international benchmarks and recognized worldwide as a global leader that understands the priorities of the customer across 35 countries. The company is seventh largest in the list of top 10 steel companies in India.

  • Total Assets₹ 8,519 Cr.
  • Reserves₹ 4,323 Cr.
  • Debt₹ 2,667 Cr.
  • Debt to equity0.61
  • Dividend yield1.20 %
  • Face value₹ 1.00
  • ROE 5Yr6.70 %
  • ROCE9.99 %
  • ROCE 3Yr9.12 %
  • Return on equity7.51 %

9. Jindal Stainless Ltd

Jindal Stainless Limited (JSL) is one of the largest integrated manufacturers of stainless steel in India. The Odisha plant has world-class technology and equipment sourced from Siemens VAI, SMS Siemag and Andritz Sundwig and the complex, equipped with a Ferro Alloys set up and captive power generation unit, the plant is capable of producing a unique and wide range of products both in terms of grades and dimensions.

  • Sales₹ 34,616 Cr.
  • Operating profit₹ 3,563 Cr.
  • Net profit₹ 2,118 Cr.
  • Sales last year₹ 35,697 Cr.
  • EBIDT last year₹ 3,820 Cr.
  • Total Capacity: 0.8 MnTPA

Hot Rolled Plates and Coils of 1650mm width and minimum thickness of 2mm in all grades of stainless steel can be produced as per the customer’s demand.

  • Total Assets₹ 27,140 Cr.
  • Reserves₹ 11,766 Cr.
  • Debt₹ 3,958 Cr.
  • Debt to equity0.33
  • Dividend yield0.31 %
  • Face value₹ 2.00
  • ROE 5Yr21.6 %
  • ROCE20.8 %
  • ROCE 3Yr27.1 %
  • Return on equity19.1 %

Also, Cold Rolled Coils of a minimum thickness of 0.3mm with a maximum width of 1650mm can be achieved based on customers’ needs. The company is ninth-largest in the list of top 10 steel manufacturing companies in India based on the capacity

10. Jindal Stainless (Hisar) Ltd

Jindal Stainless (Hisar) Limited (JSHL) has a fully integrated stainless steel plant with a capacity of 0.8 MTPA. It is also the world’s largest producer of stainless steel strips for razor blades and India’s largest producer of coin blanks, serving the needs of India and international mints.

  • Total Capacity: 0.7 MnTPA

The JSHL plant works on the strategy of both backward and forward integration, starting from melting, casting, hot rolling to cold rolling, and other value additions. The is the 10th largest in the list of top 10 steel companies in India based on turnover.

JSHL’s specialty product division caters to the high-end precision and specialty stainless steel requirements of reputed Indian and International customers. The product range includes Slabs & Blooms, Hot Rolled Coils, Strips, Plates, Coin Blanks, Precision Strips, and Cold Rolled Coils.

NoCompany Name
1Tata Steel Ltd
2JSW Steel Ltd
3Steel Authority of India Ltd
4Essar Steel India Ltd
5Jindal Steel & Power Ltd
6Rashtriya Ispat Nigam Ltd. (RINL)
7Electrosteel Steel Ltd.
8Jindal Stainless Ltd
9Jindal Stainless (Hisar) Ltd
Top Steel Manufacturers in India

Have a look at Top Steel Companies in the World

Which is the largest steel company in India?

Based on Turnover and Capacity Tata Steel Ltd is the largest steel company in India with a total sales of ₹ 2,39,412 Cr and a capacity of 39 MNTPA.

List of Top forgings company

20 thoughts on “Top 10 Steel Companies in India 2023”

  1. Thanks for posting this helpful blog and we also provide profile wire rolling mill & shaped wire rolling mill in china.

  2. Hyundai Welding Vina located in Vietnam specialized in Welding consumable.

    We would like to develope supplier in India for :
    – Wire rod ER70S-6: 2000~3000mt/month
    – Wire rod ER70S-3: 500mt/month
    – Wire rod ER70S-G: 100~300mt/month
    – Wire rod EM12K: 100~200mt/month
    – Wire rod H-14: 100~200mt/month
    Please consider and introduce me some suppliers who can supply these materials for us.
    Thank you very much.

  3. We are having a 180 Tons S275 STEEL requirement here in UAE Project…anyone can assist us as i’ve been trying to reach several indian companies but unfortunately i havent gotten any single response…can you drop your mobile number and email so i can send the official RFQ.

  4. Stecol International Pvt. Ltd. deals in Essar TMT Bars and they are still in market. You can visit their website to know more about it. Their product is still among Best TMT Bars in India

  5. Sri ram bearing corporation
    DB shanmugam street
    Door 8/3


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