Jindal SAW Limited (JSL) (erstwhile SAW Pipes Ltd) is a part of the Jindal Group was incorporated in 31st October of the year 1984 at Mathura (U.P.) and obtained the Certificate of Commencement of Business in 28th November of the same year. The company is a leading global manufacturer and supplier of Iron & Steel Pipe products and pellets with manufacturing facilities located at three places in India, such as Kosi Kalan in UP, Nashik in Maharashtra and Mundra in Gujarat, USA, Europe and UAE (MENA). At JSL, the business operations are highly structured with four strategic business units: Large Diameter Submerged Arc Welded Line Pipes (SAW Pipes) and Seamless Pipes & Tubes, DI (Ductile Iron) Pipes and Stainless steel Seamless and Welded Pipes. Its products have application in Oil and Gas Exploration, Transportation, Power Generation, Supply of Water for Drinking, Drainage, Irrigation Purposes and Other Industrial Applications.
JSL has 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.
The technical collaboration agreement was made with USS Engineers and Consultants Inc (UEC), U.S.A., a subsidiary of United States Steel Corporation in the incorporated year itself for transfer of know how & technical assistance. During the year 1986, the Country's first Longitudinal SAW Pipes (U-O-E) Mill for Line Pipes commissioned at Kosi Kalan with API and ISO accreditation. Bevelling Unit Commissioned at Kosi Kalan in the year 1992 and also SAW Pipes, USA incorporated and commissioned. After a year, in 1993, the first major supply of NACE Pipes was executed for offshore line. Seamless Pipes and Tubes Division of the company were commissioned at Nashik in the year 1994 and in the same year the 3LPE/FBE Coating Plant also commissioned at Kosi Kalan. First Export order of the company was executed for Line Pipes in the year 1995 and in the identical year the necessary approval of High Court of Delhi was received to amalgamate Swastik Foils Ltd with the company. During the year 1996, JSL commissioned its CTE Mobile Coating Plant at Kosi Kalan. After a year, in 1997, the Hot Induction Bends Unit of the company was established at Kosi Kalan and also start up of 4 meter wide Plate Mill at Baytown, USA and also had set up a joint venture company to market its products in the US. During the year 1999, Port-based 100% Export Oriented LSAW & HSAW Line Pipe Plants of the company was commissioned at Mundra with API and ISO accreditation and also in the same year an Internal Coating Plant commissioned at Kosi Kalan. The 3 LPE/FBE Coating Plant commissioned at Mundra in the year 2000 and another one Internal Coating Plant of the company was commissioned at Mundra.
In 2002, JSL re-commissioned its concrete Weight Coating Plant at Mundra and the Bevelling Unit was commissioned at Mundra. An additional Plant for 3LPE/FBE was commissioned in the year 2003 at Mundra. In the year 2004, the third LSAW manufacturing facility was specially made at Samaghogha near Port Mundra with accreditation from API and ISO. Also in the same year 2004, JSL entered into a Joint Venture Agreement with Imphy Ugine Precision, France, one of the divisions of Arcelor Group for manufacturing of High Precision Metal Equipments to be used in Electronic Industries and other applications and had set up the JV company under the name of IUP Jindal Hexa Metals Ltd. The Company has transferred its Swastik Foils Division into the joint venture company and it is holding 73% in the joint venture company.
During the year 2005, the company had start up an 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. In the year 2004-05, the company had created four separate strategic business units (SBU) to improve and maximize the operational efficiency. The name of the company was changed from Saw Pipes Limited to Jindal Saw Ltd (JSL) with effect from 11th January of the year 2005. During the year 2005-06, the new capacitors were installed on each welding station to improve the power factor resulting into less consumption of electricity. During the year 2006-07, the company successfully completed/commissioned its Sinter Plant, de-bottlenecking of the DI pipe facility for increase in pipe production. Slag Granulation plant also put into trial use.
Jindal Saw forayed into urban infrastructure projects in February of the year 2008, JSL sees the urban infrastructure projects contributing a greater share of company's revenue in the next five years as the country increases spending on infrastructure projects to sustain high level of economic growth. The company secured a contract from NDWPCL - a joint venture between the Delhi Government and IL&FS - to develop a 16 MW waste based power plant. As of March 2008, JSL signed on Grey Worldwide as its creative partner. The Company recently secured the Cairn Energy contract for supply of pipes covering 600 kilometers, worth $200 million.
JSL will expand the capacity of its plant to 2,20,000 tonnes a year, with an investment of Rs. 350 crore. 'The Company will expand its seamless tube making plant in Malegaon, Maharashtra for which it signed a Memorandum of Understanding with the State Government'.
In the year 2015, Jindal SAW Limited through its 100% subsidiary Jindal Tubular (India) Limited entered into an Operation, Maintenance & Management Agreement (OMMA) for 11 Spiral Mills & Coating facilities in India with PSL Ltd. The combined installed capacity is 1.4 Million MT Per Annum. The facilities are located in Chennai - Tamil Nadu, Vizag - Andhra Pradesh, Varsana - Gujarat, Jaipur - Rajasthan. With these facilities and along with the HSAW Facilities owned by Jindal Saw Limited, the Company has a wider footprint within India with proximity to the water and hydrocarbon market.The Company's subsidiary, Jindal ITF Limited had entered into a License Agreement dated 22 September 2015 with Kolkata Port Trust for handling dry bulk cargo at deep drafted locations in the open sea using transloading arrangement and transportation of cargo between Haldia Dock Complex and transloader by daughter vessels. Under this licence agreement, differences / disputes/ claims arose between Jindal ITF Limited and Kolkata Port Trust and despite of the best efforts by Jindal ITF Limited for amicable settlement of differences/ disputes / claims, these remained unresolved. As a consequence, Jindal ITF Limited referred the above differences/ disputes/claims to the arbitration by nominating its arbitrator. Jindal ITF Limited is under the process of finalising claim and in its considered opinion, it has good grounds to raise its differences/ disputes/claims against Kolkata Port Trust.
During 2015-16, pursuant to Composite Scheme of Arrangement the Ocean Waterways business of one of the wholly owned subsidiary, i.e., JITF Waterways Limited has been transferred to the Company effective from 1 April 2015.
The Directors had allotted 4,35,30,596 Compulsorily Convertible Debentures (CCDs) on preferential basis under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 at a price of Rs. 81.10 per CCD. Each of these CCDs was to be converted into one equity share of Rs. 2/- each in three tranches. The two tranches of 1,38,08,414 CCDs and 1,44,98,696 CCDs were converted into equal number of equity shares on 25 April 2016.
During the year 2018, the Company had purchased balance 49% shareholding (i.e. 24,500 equity shares of Rs. 10/- each) in Quality Iron and Steel Limited. Accordingly, Quality Iron and Steel Limited became a wholly owned subsidiary of the Company.
During the year 2019, Ralael Holdings Limited, subsidiary of the Company had transferred 81% shareholding of Jindal Saw Italia S.P.A. Accordingly; Jindal Saw Italia S.P.A. ceased to be the subsidiary of the Company.
During the year 2019, the Company completed the de-subsidiarisation of its Italian subsidiary, viz Jindal SAW Italia S.P.A. and consequently only have the following as international subsidiaries/ affiliates; Jindal SAW Gulf LLC at Abu Dhabi (UAE) and Jindal SAW USA LLC in U.S.A.
During the year 2019-20, Jindal X LLC, a new indirect subsidiary was incorporated.
Jindal Quality Tubular Limited (JQTL/ Transferor Company 1), Jindal Tubular (India) Limited (JTIL/Transferor Company 2) and Jindal Fittings Limited (JFL/ Transferor Company 3) got merged with Jindal Saw Limited (Transferee Company / the Holding Company) through the Composite Schemeof Amalgamation from 1st April, 2022, the appointed date.
During 2021, Jindal Hunting Energy Services Limited, a direct subsidiary was incorporated. During the year 2022-23, Jindal Saw Gulf LLC became 100% Subsidiary of the Company.