Jindal Stainless (Hisar) rose 3.77% to Rs 356.20 after the company said it received AS 9100D Certification, a quality management system for aviation, space, and defence organizations.
The certification validates Jindal Stainless (Hisar) (JSHL)'s competence to constantly meet highly stringent standards of the aerospace industry. It also enables JSHL to get listed in OASIS, the Online Aerospace Supplier Information System database, which showcases the company offerings to aerospace manufacturers.The AS 9100D certification journey was driven by the top management and implemented by a team of around 120 people across the supply chain, within 15 months, JSHL said in a statement.
JSHL managing director, Abhyuday Jindal, said: "Our ambition is to become a globally certified, end-to-end solution provider in aviation, defence, and space sectors. As an internationally recognized benchmark, AS 9100D will help us gain competitive advantage in the global and domestic aerospace marketplace, helping us expand our international footprint."
JSHL, senior vice president-manufacturing, Vijay Bindlish, added: "With aerospace emerging as a growing market, and the Government emphasis on Make in India, AS 9100D Certification is a prime requirement to gain greater access into this segment."
JSHL has been catering to the requirements of strategically significant and prestigious customers like ISRO (Indian Space Research Organisation), DRDO (Defence Research and Development Organisation) and BDL (Bharat Dynamics Ltd), VSSC (Vikram Sarabhai Space Centre) among others.
Meanwhile, on 8 March 2022, JSHL managing director, Abhyuday Jindal, said: "Among other uncertainties that the world is currently facing, we are witnessing never-seen-before spikes in prices of Nickel. As a proactive step to address volatility and contain risk, we continue to follow a prudent risk management policy to sync our sales order and raw material booking on a real time basis through increased coordination between our supply chain stakeholders."
At present the company has a healthy order book and it is also maintaining its focus on exports. Majority of the company's orders come from long term quantity contracts with its customers. The firm has a diversified mix of portfolio between high nickel as well as low or no nickel product range. JSHL production lines are capable of churning out flexible product mix in line with the market demand and raw material availability.
"The whole situation is an evolving one and we're closely monitoring it with our robust risk management practices. Russia commands about 6-8% of the refined Nickel production of the world. Our dependence on Russia for raw material sourcing is relatively very less since we source majority of our nickel from Scrap and NPI. These are majorly sourced from within India, from far-east countries such as Indonesia, and some quantities from Europe," he added.
JSHL is an integrated stainless steel plant with a melting capacity of 8,00,000 tonnes per annum. It is also the world's largest producer of stainless steel strips for razor blades and India's largest producer of coin blanks, serving the needs of Indian and international mints. Its specialty product division caters to the high-end precision and specialty stainless steel requirements of reputed Indian and international customers.
On a consolidated basis, JSHL's net profit rose 90.58% to Rs 513.68 crore on 32.63% rise in net sales to Rs 4173.43 crore in Q3 December 2021 over Q3 December 2020.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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