Jindal Saw Ltd (JINDALSAW) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Jindal SAW is a part of the $10 billion OP Jindal group, one of the country’s topmost industry houses and the foremost indigenous steel producers and exporters. It started operation in the year 1984, when it became the first company in India to manufacture submerged arc welded (SAW) pipes using the internationally acclaimed U-O-E technology.

Jindal SAW is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore.

With integrated facilities at multiple locations and an ever expanding market opportunity, Jindal SAW diversified from a single product company to a multi-product company, manufacturing large-diameter submerged arc pipes and spiral pipes and bends for the energy transportation sector; carbon, alloy and stainless steel seamless pipes and tubes manufactured by conical piercing process used for industrial applications; and ductile iron (DI) pipes for water and sewage transportation. Besides these, the company also provides various value-added products like pipe coatings, bends and connector castings to its clients.

At the company, the business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.

In 2006, Jindal SAW realigned itself by disposing off non-core business in the US and focused its energies on the Indian growth story by launching several new initiatives.

The company has consistently created value by creating low-cost capacities in capital-intensive industries in businesses largely overlooked by other corporate. Jindal SAW has recently launched its Jindal ITF (infrastructure, transportation, fabrication) subsidiary.

Products of the company:

Large diameter pipes -

   • Line pipes    • Anti-corrosion coatings   • Conversion casings   • Hot-pulled induction bends

Ductile iron (DI) pipes -

   • Seamless tubes

Milestones:

•  1986: Country’s first LSAW pipes (U-O-E) mill for line pipes commissioned at Kosi Kalan with API and ISO accreditation. 
  
• 1992: Bevelling unit commissioned at Kosi Kalan. SAW pipes, USA incorporated and commissioned. 
  
• 1993: First major supply of NACE pipes for offshore line.  
  
• 1994: Seamless pipes and tubes division commissioned at Nashik. 3LPE/FBE coating plant commissioned at Kosi Kalan.  
  
• 1995: First export order is executed for line pipes. 
  
• 1996: CTE mobile coating plant commissioned at Kosi Kalan.  
  
• 1997: Hot induction bends unit established at Kosi Kalan. Start-up of four-meter-wide plate mill at Baytown, USA. 
  
• 1999: Port-based 100% export oriented LSAW & HSAW line pipe plants commissioned at Mundra with API and ISO accreditation.  internal coating plant  commissioned  at Kosi Kalan. 
  
• 2000: 3LPE/FBE coating plant commissioned at Mundra. Internal coating plant commissioned at Mundra. 
  
• 2002: Concrete weight coating plant re-commissioned at Mundra. Bevelling unit commissioned at Mundra.  
  
• 2003: Additional plant for 3LPE/FBE commissioned at Mundra.  
  
• 2004: Third LSAW manufacturing facility commissioned at Samaghogha near Port Mundra with accreditation from API and ISO.  
  
• 2005: Start-up of integrated pipe unit ductile iron pipe manufacturing plant of 200,000 MT per annum capacity along with blast furnace of 250,000 MT per annum capacity and a coke-oven plant.
• 2009- Commissioning of seventh Pipe mill manufacturing LSAW using JCO forming in Nanakapaya - Port Mundra with capacity of 300,000 MT per annum
  
• 2010
• Jindal SAW Ltd receives Environment Clearance for its Dhedwas Mine in Bhilwara, Rajasthan.
• 2011
• Commissioning of 8th Pipe mill manufacturing HSAW (Spiral) pipe at Kosi Kalan, Mathura, U.P. with capacity of 150,000 MT per annum This mill is commissioned to cater to the water sector.