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Jindal Steel’s mining business in South Africa turns around

14 Nov 2019 Evaluate

Jindal Steel & Power's (JSPL) step down subsidiary -- Jindal Mining SA Proprietary (JMSA), a company incorporated in South Africa has turned around and reported cash profits in the completed quarter ending September 2019 from South Africa.

JMSA had entered into Voluntary Business Rescue in April-May 2019. With a view to protect the interests of various stakeholders and with a long term vision of turning it profitable & sustainable, the company had taken the strategic decision to take the Business Rescue (BR) route. As part of the BR, the company engaged with stakeholders to restructure the liabilities (both Operational and Financial) to make the business profitable in the long run.

The operations at JMSA are now stable and ramping up well and is out of the Business Rescue (BR) process. JSPL will be looking to monetize this anthracite coal asset as part of its International Portfolio Rationalization Plan.

JSPL is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement.

Jindal Steel Share Price

1287.40 17.90 (1.41%)
20-Apr-2026 16:59 View Price Chart
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