Jindal Steel & Power Among Winners of Coal Gasification Incentives

Jindal Steel and Power Limited (JSPL) is one of India’s foremost industrial giants, renowned for its substantial presence in the steel, power, and mining sectors. Established by the visionary O.P. Jindal, the company is a key member of the esteemed Jindal Group, with its headquarters located in New Delhi.

JSPL and 2 Others Get Financial Incentive Scheme

JSPL, alongside New Era Cleantech Solution Pvt. Ltd. and Greta Energy Limited, has been selected to receive financial incentives under Category II of the Ministry of Coal’s scheme, marking a pivotal achievement in India’s ambitious coal gasification programme. 

The scheme, with a substantial financial outlay of ₹8,500 crore, aims to accelerate coal gasification, reduce carbon emissions, enhance energy security, and foster sustainable development. Launched on January 24, 2024, it invites both private enterprises and public sector undertakings to lead coal gasification projects. The Request for Proposals for Category II was issued on May 15, 2024, and technical bids were opened on January 10, 2025.

JSPL 2030 Plan

This initiative is a cornerstone of India’s strategy to reach 100 million tonnes of coal gasification by 2030. The increasing participation of industry leaders in this bidding process reflects the growing momentum behind coal gasification technologies, heralding a transformative shift in India’s energy landscape and its transition from traditional coal utilisation.

The successful culmination of this bidding process underscores the Ministry of Coal’s commitment to fostering a greener, more energy-efficient coal sector.

Jindal Steel And Power Q3 FY25 Results

In its Q3FY25 revenue reached ₹11,750.7 crore, a slight 0.4% increase compared to the same period last year. However, adjusted EBITDA experienced a significant 23.2% decline, falling to ₹2,183.9 crore due to increased operational costs and pricing pressures. Additionally, profit after tax saw a sharp 50.7% decrease, reaching ₹951 crore compared to the previous fiscal year.

JSPL’s steel production for the quarter reached 1.99 million tonnes, a 3% increase compared to the same period last year. Steel sales also saw growth, reaching 1.90 million tonnes, up 5% year-on-year. Exports made up 7% of the total sales for the quarter.

Share Price Performance 

At 10:00 AM on February 5, 2025, Jindal Steel And Power Ltd. shares traded at ₹800 per share on the NSE.

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