The top steel companies in India cater to the construction industry by providing iron and steel materials which serve as essential building components, among other elements. Generally speaking, the manufacturing of steel and steel-based products has grown exponentially, and India stands in the second position in terms of producing crude steel. Each year, there are over a million tonnes of a variety of steel materials are produced in the country and are also exported to many countries around the world. In January 2022, India’s finished steel consumption stood at 9.65 million tonnes.
The Indian steel industry is categorized into three categories – major producers, main producers, and secondary producers. Steel has many advantages as a construction material. Not only is steel strong building material, but it is also durable, flexible, and has aesthetic characteristics as well.
India’s Growth in the Iron & Steel Industry
In India, the administration of the steel industry in both public and private sectors is managed by the Ministry of Steel, an executive branch functioning under the Government of India. The production of crude steel and finished steel stood at 98.39 million tons and 92.82 million tons, respectively. In FY22, crude steel production in India is estimated to increase by 18%, to reach 120 million tonnes, driven by rising demand from customers.
The growth in the Indian steel sector has been driven by the domestic availability of raw materials, such as iron ore, and labor cost-effectiveness. Thus, the steel sector makes a major contribution to the volume of industrial production in India.
The Indian steel sector is modern, with state-of-the-art steel mills. The company has always strived for the constant modernization of old installations and the transition to a higher level of energy efficiency.
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Moving on, let’s now take a quick look at some of these top steel companies in India that have gained popularity in delivering quality products to consumers.
20 Top Ranked Indian-based Steel Manufacturer & Supplier Brands
The following is a list (in alphabetical order) of the top twenty steel manufacturing companies in India.
1. ArcelorMittal Nippon Steel India Limited (AM/NS India)
AM/NS is the leading integrated flat carbon steel manufacturer in India. The company was formed after the merging of two major steel companies, i.e., ArcelorMittal (AM) and Japan-based Nippon Steel (NS), hence the name of the company today as ArcelorMittal Nippon Steel India Limited, or AM/NS India.
The company produces iron ore for ready-to-market products with an achievable crude steel capacity of 9 million tonnes per annum. Its manufacturing facilities comprise iron making, steel making, and downstream facilities spread across India. AM/NS offers more than 300 grades of steel, all of which conform to international quality standards, underscoring the value the company ascribes to being a trusted and reliable provider of steel to customers in India and worldwide.
AM/NS India Limited is a joint venture between ArcelorMittal and Nippon Steel, two of the world’s leading steel companies. In 2019, ArcelorMittal acquired Essar Steel India Limited (ESIL) and simultaneously established a joint venture with Nippon Steel Corporation (Nippon Steel), called ArcelorMittal Nippon Steel India Limited (AM/NS India), which operates ESIL. ArcelorMittal holds 60 percent of AM/NS India, with Nippon Steel holding the balance.
2. Bhushan Power & Steel Limited (BPSL)
Bhushan Power & Steel Limited is a leading steel company in India. The company was initially started in 1970 with headquarters located in New Delhi. At that time, the company had set up one facility in Chandigarh for manufacturing Tor Steel and Wire Rod, and later, set up seven more manufacturing facilities in India. The company manufactured and supplied a range of steel products until it was acquired by another major steel company, JSW Steel Limited.
JSW Steel Limited, a multinational steel manufacturing company and a subsidiary of the Indian-based JSW Group, acquired Bhushan Power & Steel Ltd in 2019 as the company was involved in financial fraud and went bankrupt.
3. Bramhani Steels
Bramhani Steels is an iron and steel company in India. The company was formed in 2016 in Surat, Gujarat, and is a supplier of steel products, such as Mild Steel Mirror Storage Cupboard, Rust Proof Steel Storage Cupboard, Domestic Storage Cupboard, Stainless Steel Storage Cupboard, Stainless Steel Mirror Cupboard, etc.
Also known as Bramhani Industries Limited, the company business is entirely promoted by Obulapuram Mining Company (OMCPL) which is an iron ore mining company located in the states of Karnataka and Andhra Pradesh.
The company is planning to build steel plants at Kadapa (Andhra Pradesh) with a capacity of 1.7 metric tonnes and Bellary (Karnataka), with an estimated capacity of producing 6 million metric tonnes per annum.
4. Ferro Alloys Corporation Limited (FACOR)
Ferro Alloys Corporation, also known as FACOR, is a major producer of Ferros metal (ferromanganese) in India. The company was incorporated in 1956 with its headquarters located in Nagpur, Maharashtra. FACOR was the first company to produce ferromanganese in India.
Note: Ferromanganese is obtained from the alloys of iron that contain a high proportion of manganese through a mixture of chemical elements that provide the material capabilities to retain the properties of a metal. Ferroalloys are used as de-oxidizers and alloy additives in the steel manufacturing process.
The resulting ferroalloys are High-carbon ferrochrome, Low-carbon ferrochrome, Silicochrome, silicomanganese, magnesium ferrosilicon, ferromanganese, etc. These alloys are produced from electric arc furnaces in the molten state.
FACOR has set up a ferromanganese plant at Sriramnagar in the state of Andhra Pradesh. The plant is equipped with three furnaces to carry out the production of high-carbon ferromanganese and ferrosilicon (an alloy of iron and silicon content). The plants in Sriramnagar have equipment for processing raw materials, metal casting, slag, crushing, calibration, and other ancillaries apart from furnaces for the smelting of ferroalloys. The raw materials are obtained from the states of Andhra Pradesh, Odisha, Madhya Pradesh, and Bihar.
5. Godawari Power & ISPAT Limited (GPIL)
Godawari Power & ISPAT Ltd (GPIL), formally ISPAT Godawari Ltd (IGL), is a leading constituent of the HIRA Group of Industries. Hira Group of companies is a conglomeration of 13 companies under its wing. GPIL was incorporated in 1999 with its head office located in Raipur, Chhattisgarh. The company also owns subsidiaries Godawari Green Energy Limited, RR ISPAT Limited, etc. It has a presence in the long product segment of the Steel industry, mainly in mild steel wire.
The company manufactures sponge iron, Ferro alloys, billets, wires rods (through a subsidiary company), steel wires, captive power, Oxygen gas, fly ash brick, and iron ore pellets.
GPIL has set up an integrated steel plant with captive power generation. It has managed to traverse the entire value chain (raw material to final product) in steel wires and has now become a fully integrated steel manufacturer.
6. Jai Balaji Group
Jai Balaji Group is a private sector company with operations in the Iron and Steel manufacturing business in India. The company was formed in 1999 with its headquarter located in Kolkata, West Bengal.
Jai Balaji Group manufactures a range of iron and steel products, which include Power, Pig Iron, Sponge Iron (DRI), Ferro Alloys, Hexa TMT Steel Bars, Reinforcement Steel TMT, and CRS Bars, Carbon, Alloy Carbon & Mild Steel Billets, Alloy Carbon & Mild Steel Heavy Rounds, Wire Rods, Ductile Iron Pipes, Grinding Media Rods and Collector Bars, etc.
The company has eight integrated steel manufacturing units spread across India in the states of West Bengal, Chhattisgarh, Odisha, and Jharkhand.
7. Jindal Steel and Power Limited (JSPL)
Jindal Steel and Power Limited (JSPL), a part of the Jindal Group, is a leading steel company in India. The company was established in 1979 and its headquarter is located in New Delhi. The domestic JSP steelmaking business produces economical and efficient steel through backward and forward integration. The Company owns and operates state-of-the-art facilities in Chhattisgarh, Jharkhand, and Odisha.
The company manufactures and sells sponge iron, mild steel, mild steel slabs, coils, hot rolled plates, etc. JSPL is also a notable industry in the field of steel, power, mining, oil and gas, and infrastructure. It is the third largest producer of steel in India after SAIL and Tata Steel.
Jindal Steel and Power Ltd own six major subsidiaries, namely Jindal Power Limited, Jindal Shadeed Iron & Steel Oman, Jindal Steel Bolivia, Jindal Steel & Power Mauritius, Jindal Africa Investments, and Skyhigh Overseas.
8. JSW Steel Limited
JSW Steel is one of the flagship companies of the JSW Group. Previously known as Jindal Iron and Steel Company (JISCO), JSW Steel Limited is a leading integrated steel manufacturer. The company was incorporated in 1982 with its head office located in Mumbai. It is one of the top-most and fastest growing companies in India.
JSW is also the first company to produce high-strength and modern steel and steel products for its automotive segments. It is one of the fastest-growing companies in India and operates in more than 140 countries. After merging with ISPAT Steel, it became the second largest private sector steel company in India.
JSW Steel has established a joint venture for a Georgia steel mill and has also teamed up with Japan’s JFE Steel Corp to produce high-quality automotive steel. JSW has also acquired mining assets in the United States, Mozambique, and the Republic of Chile.
9. Mahindra Ugine Steel (MUSCO)
Mahindra Ugine Steel is a leading steel company in India. The company was formed as part of the Mahindra Group in 1962 with its headquarter located in Mumbai. During its initial years, MUSCO carried out its business operations as a dealership/seller of tools, alloys, and specialty steels. Later, Mahindra Group started a joint venture with two Japanese companies, Sanyo Special Steel Co. Ltd and Mitsui & Co. Ltd, and renamed their company to Mahindra Sanyo Special Steel Private Limited.
Mahindra Sanyo Special Steel Private Limited is specialized in the manufacturing of products, such as Steel, Stampings, and Ring Rolls.
The company has set up three stamping facilities, each plant in Kanhe, Nashik, and Rudrapur. All three facilities produce an estimated capacity of 30,000 metric tonnes of stampings per annum.
10. Mideast Integrated Steels Limited
Mideast Integrated Steels Limited (MISL) is a leading steel manufacturing company in India. The company was started in 1992 with its headquarters located in Bhubaneshwar, Odisha. MSIL runs its business operations in a joint venture with MESCO Steel Group and Maithan Ispat Limited.
The company is engaged in the extraction of iron ore and production of pig iron. Its primary products include Iron Ore fines, Calibrated Lump Ore, and Pig Iron. The company also produces plates, fine fresh, boulders, etc. MISL currently operates two 389 cubic meters of Blast Furnaces in its manufacturing plant at Kalinga Nagar, Odisha, and the hot metal is cast as Pig Iron. Its Roida mines produce very high-quality iron ore.
MISL has a strategic alliance with UK-based Stemcor for marketing and financing its business operations. MISL is also the first company in India to have a technical collaboration with CMIEC, now known as Sino Steel, China.
11. Mukand Limited
Mukand is a leading steel company in India. The company was originally launched in 1929 as Mukand Iron & Steel Works Limited in Lahore, Punjab (now in Pakistan), but was later acquired by the Bajaj Group in 1937 and its headquarters moved to Mumbai, Maharashtra. The company name was also changed to what is known today, Mukand Limited.
Mukand is a major producer of iron and steel products, such as Stainless Steel, Alloy Steel, Stainless Steel Billets, Steel Castings, Steel Structurals, Electrical Overhead Travelling (EOT) as well as other cranes, and other industrial machinery. It is also an exporter of Hot Rolled Bars.
In addition, the company makes India’s largest gantry crane, with an 80-tonne capacity and 60-meter span, with a mono-box girder and underslung trolley.
12. Rashtriya Ispat Nigam Limited
Rashtriya Ispat Nigam Limited (RINL) is a government-owned steel manufacturing company in India under the ownership of the Ministry of Steel, Government of India. The company was established in 1982 with its headquarters located in Visakhapatnam in the state of Andhra Pradesh. RINL is also known more popular as Vizag Steel. The company owns a subsidiary Eastern Investment Limited (EIL).
The products of RINL include Rebars, Wire Rods, Rounds, Structurals, Pig Iron, and Blooms & Billets. The company also markets the resultant by-products, such as coal chemicals (Ammonium Sulphate, Benzol products, etc.) and Slag. RINL products are best known for their quality.
In November 2010, the company was granted the status of Navratna PSE company by the Government of India. The company operates a 7.3 million tonne per annum capacity steel plant in Visakhapatnam, Andhra Pradesh. The Visakhapatnam Steel Plant, also called Vizag Steel, is the first Integrated Steel Plant in the country. The facility is known for its quality products that delight customers. It is a market leader in long products and caters to the needs of diverse Industrial sectors.
13. Real Ispat and Power Limited (RIPL)
Real Ispat and Power Ltd is a privately-owned integrated steel and power manufacturing company in India. RIPL was formed in 2002 with the firm’s headquarters located in Raipur, Chhattisgarh. It is a flagship company of the Real Group. The company also owns subsidiaries, such as Shivalay Ispat & Power Private Limited (SIPPL), Real Power Private Limited (RPPL), and API Ispat & Powertech Private Limited (API). Together all of these five units have their manufacturing plants set up in Chhattisgarh.
The company’s main specialization involves the manufacturing of Real Wire and GK TMT rebars. In addition, the company produces a range of products, which include Power, Sponge Iron, Galvanised Iron (GI), Billet, TMT Rebars, Wire Rod, HB Wire, Binding Wire, GI Wire, Barbed Wire, Eco Bricks, etc.
The final products such as thermos-mechanically-treated (TMT) bars, wire rods, and steel wires that are produced by RIPL are sold under the brand names GK TMT Rebars and Real Wire, respectively.
14. Steel Authority of India Limited (SAIL)
Steel Authority of India Limited is one of the largest steel manufacturing companies in India. SAIL was incorporated in 1954 with its head office located in New Delhi. The company is owned by the Indian government under the Ministry of Steel and has an annual production of 16.30 million metric tonnes. SAIL is also one of the seven Maharatna’s of the country’s Central Public Sector Enterprises.
SAIL manufactures and sells a huge range of steel products. The company produces cast iron and steel at five integrated plants and three special metallurgical plants located mainly in the eastern and central regions of India and located close to domestic sources of raw materials. These five integrated steel plants are located at Bhilai, Rourkela, Durgapur, Bokaro, and Burnpur (Asansol), and three special steel plants have been set up at Salem, Durgapur, and Bhadravathi.
The company mined a total of 32.40 million tonnes of iron ore, fluxes, and coal in FY20.
15. Tata Steel Limited
Tata Steel, a subsidiary of the Tata Group, is the largest steel company in India and Asia’s first integrated private steel company. The subsidiary company was established in 1907 and was then called Tata Iron and Steel Company Limited (TISCO). Its head office is located in Mumbai and the steel plant is set up at Jamshedpur, Jharkhand. Tata Steel also owns subsidiaries, including Tata Steel Europe, Tata Steel BSL, and many more.
The company’s crude steel capacity across Indian operations is nearly 19 million tonnes per annum. Based on Turnover and Capacity Tata Steel Ltd is the largest steel company in India with a total sales of INR 1,60,769 crores and a capacity of 34 million tonnes per annum.
Currently, Tata Steel is the world’s second-most geographically-diversified steel producer. The company’s steel operation is fully integrated, from the mining of raw materials to the manufacturing and marketing of finished products. Continuous improvement of the range of its products and services, along with success in customer value creation initiatives, allows the company to serve growing global markets. Today, the company operates in 26 countries and has a commercial presence in more than 50 countries with employees on five continents. The company’s raw materials operations are located throughout India and Canada, which helps it to be self-sufficient in steel production.
16. Tata Steel BSL Limited (formerly Bhushan Steel Limited)
Tata Steel BSL is the largest producer of auto-grade steel in India. The company was renamed in 2019 after acquiring Bhushan Steel Limited (established in 1987) which became defunct due to insolvency. The company’s headquarter is situated in Kolkata, West Bengal. Tata Steel BSL is part of the Tata Steel company, which is another major steel manufacturer in India.
The company’s manufacturing plants are located in Ghaziabad (Uttar Pradesh), Khopoli (Maharashtra), Meramandali (Odisha), and Hosur (Tamil Nadu). The company’s steel production is estimated at 5.2 million tonnes per annum.
The products manufactured by Tata Steel BSL include Coil, Cold Rolled Steel, Colour Coated Tiles, Alloy Billets, Wire Rods, Sponge Iron, API Pipes, Drawn Tubes, Tubes of OEM Grades, Galvanised Products, Tata Shaktee, Bhushan Galume Sheets, and H&T Steel Strips, etc. Tata Steel BSL exports steel for both the automotive and white goods industry to several countries.
17. Tube Products of India (TPI)
Tube Products of India (TPI) is a leading manufacturer of Steel Tubes and Strip Steel in India. The company was formed by Murugappa Group in 1955 as a flagship company of Tube Investments of India Limited, which specializes in bicycles, engineering, steel tubes, metal-formed products, car door frames, and automotive chains.
TPI started a joint venture with a UK-based company, Tube Products (Old Bury) Limited to produce Electric Resistance Welding (ERW) and Cold Drawn Welded (CDW) tubes, also known as Drawn Over Mandrel tubes. Another recent addition of the Tubular Components Division (TCD) was made to TPI, which manufactures high-strength tubular auto components, providing the advantage of weight reduction, higher component efficiency, and cost reduction.
TPI produces CRCA strips including special extra deep drawing, high tensile, medium carbon, and high carbon finding application in industries like Bearings, Auto-mobile, Auto Ancillaries, white goods, fine blanking, and General Engineering.
18. Uttam Galva Steels Limited
Uttam Galva Steels Ltd is one of the largest manufacturers of cold rolled steel (CR) and galvanized steel (GP) in Western India. The company was established in 1985 and its headquarter is located in Nagpur, Maharashtra. Uttam Galva Steels Ltd group also operates two manufacturing plants in India, which are Uttam Galva Metallics Limited and Uttam Value Steels Limited (previously known as Lloyds Steel Industries Limited). Both these plants are located in Khopoli, Maharashtra.
The company produces Cold Rolled Steel, Galvanized Steel, and Colour Coated Products. These products are made by procuring hot-rolled steel and are then processed into CR and further into GP and Colour Coated Coils. In galvanized rolls, the company specializes in the production of ultrathin sheets. The excess capacity of CR which is not used for galvanizing is converted to value-added grades in Cold Rolled Closed Annealed (CRCA) coils, cut to length sheets, and sold as the Full Hard CR in the overseas markets.
More than 50% of the Company’s products are currently exported to 132 countries worldwide and it has a customer base in many advanced markets such as Australia, France, Germany, Greece, the USA, and the UK to name a few.
19. VISA Steel Limited
VISA Steel Limited (VSL) is an integrated special and stainless steel manufacturing company in India. The company was incorporated in 1994 with its headquarters located in Kolkata, West Bengal, and a registered office in Bhubaneswar, Odisha. It also has a few more branches situated all across the country. The company originally started as VISA Industries Limited however, it later changed its name to VISA Steel Limited. It is part of the VISA Group of companies.
VISA Steel offers High-carbon ferrochrome in accordance with International quality Standards for the production of stainless and special steel. The Ferro Chrome business comprises a 150,000 tonnes per annum Ferro Chrome Plant, with Captive Power Plant. VISA Steel Ltd is a renowned supplier of High Carbon Ferro Chrome to Special Steel and Stainless Steel manufacturers.
The company’s manufacturing plant is set up in the Kalinga Nagar Industrial Complex of Jajpur, Odisha. The facilities include 6 submerged Arc Furnaces with 3×25 MW Power Generating Units. With a capacity of producing 150,000 tonnes of integrated special and stainless steel at its manufacturing plant, VSL is one of the top-most steel manufacturers in the country.
20. Welspun Maxsteel Limited
Welspun Maxsteel Ltd is a popular steel manufacturing division of the Welspun Group, an Indian-based multinational conglomerate. Welspun Maxsteel company was originally launched in 1989 as Welspun Steel Limited with its headquarters located in Mumbai, Maharashtra.
After acquiring Vikram Ispat, the Sponge Iron manufacturing division business of Grasim Industries Ltd, the company was renamed Welspun Maxsteel Ltd in 2009. And later, in 2014, another major Indian-based steel manufacturing company, JSW Steel Ltd took over the business of Welspun Maxsteel. Thus, the company is now a subsidiary of JSW Steel Limited.
The Indian Steel Association (ISA) works with the technical wing of the Ministry of Steel (MoS), the Government of India, as well as the Bureau of Indian Standards (BIS), and the other National Standard bodies to formulate and implement Indian Standards for specific steel products. ISA also brings forward the concerns of its members to the attention of policymakers and provides solutions to laws and regulations relating to raw materials essential to the steel industry.