The Hindu Business Line : Jindal Strips focus on value-addition

JINDAL Strips Ltd, which reported a higher net profit of Rs 101.34 crore for the year ended March 31, 2003, said it responded to the challenging market scenario for the stainless steel industry by focussing on its business.

The company said it built its strategy around four areas — customer relationships, global cost competitiveness, focus on exports and forward and backward integration.

In terms of increased focus, Jindal Strips has concentrated on value added stainless steel products. "We have renewed efforts in building the Jindal Stainless brand, some of this will be more visible going forward,'' a press release said.

With some of the expansions and debottlenecking completed during the year, Jindal Strips was able to improve its margins and focus on increasing its share of value added products in its portfolio. "The returns on our earlier investments will now be visibly going forward,'' it said. Jindal Strips said it would continue to invest in both forward and backward integration to enable it to reduce cost and emerge as a low-cost producer in the stainless steel industry.

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Jindal Strips focus on value-addition