JSW Steel was earlier known as Jindal Vijayanagar Steel and was set up as a limited public company in 1994. The JSW Steel Ltd. is under the Jindal Iron and Steel Company, Karnataka State Investment and Industrial Development Corporation, and associate companies.
JSW Steel has production units across the states of Maharashtra and Karnataka and manufactures products such as pellets and steel which have been coated with color. The JSW Steel Company has set up a steel plant which produces 1.65 MPTA of hot-roll coils in Torangallu, Karnataka. The company has also established a pellet plant with an investment of around Rs. 3,000 million. JSW Steel is one of the very few steel producers across the world to adopt the 'corex' method for hot metal manufacture.
JSW Steel Ltd. is the first company in India in the steel sector to adopt and implement a total united planning resource solution for the company's business process. In the company's ERP project, the various modules involved are steel tracking process system, materials management, product costing, and maintenance system which have been managed by Oracle Financial.
The total income of the company amounted to Rs. 15,710 million in 2005-2006 and the next year the figure amounted to Rs. 23,272 million. The net profit of the company amounted to Rs. 1,703 million in 2005-2006 and the next year the figure increased to Rs. 4,277.8 million. JSW Steel is planning to expand its production capacity so that by 2012 it reaches a production target of around 20 MTPA.
JSW Steel has witnessed an increased in its levels of profits for it has been giving the best quality of products to its customers. And as the company is planning to expand, it is sure to see its profit levels rising in the future also.
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