Jindal Stainless has signed a technical assistance agreement with Japan's JFE Steel Corporation to enhance its manufacturing capabilities for selected ferritic stainless steel grades.

Agreement details

The partnership, announced on September 7, 2026, focuses on improving product quality, manufacturing practices, and process efficiency. JFE Steel will provide technical support to strengthen Jindal Stainless' operations in this segment, which is critical for automotive, infrastructure, and railway applications.

Strategic context

Ferritic stainless steel is valued for its corrosion resistance, durability, and lower lifecycle costs. The collaboration aims to leverage JFE Steel's expertise to meet growing global demand in value-added applications such as kitchen equipment, industrial machinery, and construction.

Abhyuday Jindal, Managing Director of Jindal Stainless, stated that the association aims to build capabilities that create greater value for customers by strengthening people, processes, and practices.

Company profile

Jindal Stainless reported an annual turnover of ₹42,955 crore (USD 4.86 billion) in FY26. As of March 2026, the company had an annual melt capacity of 4.2 million tonnes and operated 16 manufacturing and processing facilities across India, Spain, and Indonesia.

Jindal Stainless Limited shareholders approved all five resolutions at its 46th annual general meeting held on September 2, 2026. The company declared a final dividend of ₹3 per equity share for FY26.

The meeting was conducted through video conferencing and other audio-visual means. Promoter group participation was high, with 99.93% of promoter-held shares voting in favor of the financial statements. Public institutional investors also showed strong support, casting 87.81% of their votes in favor of the standalone accounts.

Voting Results Overview

All ordinary resolutions passed with the requisite majority. The voting process included remote e-voting and e-voting conducted at the meeting via MUFG Intime India Private Limited. Scrutinizer Kamal Gupta confirmed the fair and transparent conduct of the poll.

Key Outcomes

Shareholders approved the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The board’s recommendation for a final dividend of ₹3 per equity share of face value ₹2 each was accepted by 99.65% of valid votes cast.

Chairman and Managing Director Ratan Jindal was reappointed after retiring by rotation under Section 152(6) of the Companies Act, 2013. While promoters voted unanimously in favor, public institutional investors cast 23.15% of their votes against the reappointment, though the resolution still secured an overall 93.40% approval rate.

The company also ratified the remuneration of M/s. Ramanath Iyer & Co., Cost Accountants, as cost auditors for the financial year 2026-27. This resolution received near-unanimous support, with only 924 votes cast against it across all shareholder categories.