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BSE: 532286|NSE: JINDALSTEL|ISIN: INE749A01030|SECTOR: Steel - Sponge Iron
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« Mar 13
Chairman's Speech (Jindal Steel & Power) Year : Mar '14
Dear Shareholders,
 
 We are living in extraordinary times, when on one hand global recovery
 is gaining pace, and on the other political developments in India ensure
 an enabling environment for enhanced economic actvity.
 
 According to the IMF, global growth is expected to touch 3.6% in 2014,
 and is expected to strengthen further towards the beginning of 2015.
 The growth impetus is emanating from advanced economies in sharp
 contrast to previous years, when developing economies put up a beter
 performance. Such a scenario will create more export potental and other
 business opportunites for developing economies like India to grow.
 
 In this context it gives me immense satisfaction to inform you that JSPL
 has already focused on enhancing global production capacites,
 diversifying investments and strengthening our core capabilites - raw
 material security, technology leadership and retail brand visibility -
 to leverage new opportunites.
 
 India''s growth will now ride on the firm shoulders of the country''s
 infrastructure and energy sectors. The country is moving into its next
 era of development, and I call upon you all to get ready for the big
 leap we have to take.
 
 Huge investments in these sectors are expected to remove the botlenecks
 of growth. Such a scenario will increase the country''s hunger for steel
 and power. In both these sectors, JSPL has a role, an important one, to
 play in contributng to the nation''s demand.
 
 JSPL is now a Rs. 20,000-crore company, thanks to industry- leading
 innovations, enhanced operational efficiencies, greater cost optmisation and
 our foray into emerging markets. We have given our best during the
 trying times and the world now understands our true metle.
 
 I congratulate Team JSPL on successfully setng up India''s largest coal
 gasification plant for making sponge iron at Angul.  This achievement is
 a significant milestone made possible by the grit, dedication and hard
 work of the entre team comprising members of all divisions. The Angul
 project is reflective of our team spirit and never-say-die attitude.
 
 We are investng significant resources to strengthen our market position
 in existng regions, as well as establishing footprints in newer and
 atractve geographies. Consolidation and expansion remain the buzzwords.
 During 2013-14, we completed multple expansions across locations to take
 cumulatve steel and power capacity to 7.50 MTPA and 4,527 MW
 respectvely.  At present, we have an export presence across 29
 countries, and the number is only growing. By 2020, we will enhance
 steel production capacity to 16.2 MTPA and power Generation capacity to
 8,100 MW leveraging our captve coal and iron-ore reserves, both in
 India and globally. Clearly as JSPL contributes to India''s growth, its
 global expansion plan is well in place.
 
 Growing together and taking along the poor and marginalised sections of
 society is in our DNA. Inclusive growth is not just a lofy idea for us.
 Our multple programmes for social empowerment already engage
 stakeholders at every step towards a brighter future. We have ensured
 that environment conservation and protection remain high on our list of
 priorites.  We have now brought in to the company a Chief
 Sustainability Officer dedicated to ensuring that the company contnues on
 the path of quality and sustainable growth.
 
 The vision of Shri O. P. Jindal is always a guiding force and it is
 reassuring that our journey towards greater glory is in the right
 direction.
 
 We will contnue to generate higher value for our shareholders.  The
 Board of Directors has recommended a dividend of Rs. 1.50 per equity of Rs.
 1 each (150%). We have always engaged our shareholders in the company''s
 success. We want to prosper together as a family. During FY 2013-2014,
 we faced many challenges. But undaunted by the nature, degree and kinds
 of these challenges we were able to surmount them. Our performance
 gives us confidence that we will achieve our goals.  In all
 circumstances the ideas of caring and sharing cannot leave us. In fact,
 they drive us and give us a sense of fullfilment.
 
 I hope you share our excitement and optmism, as at JSPL we are commited
 to make India of our dreams.
 
 Naveen Jindal
 
 Chairman
 
Source : Dion Global Solutions Limited
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