Jindal Steel & Power Ltd

Dear Members,

The Board of Directors are pleased to present the Company's 46^th Annual Report and the Company's audited financial statements (Standalone & Consolidated) for the Financial Year ended March 31, 2025.

The Company's financial results for the year ended March 31, 2025, are summarized below:

(B in crore)

The name of the Company was changed from Jindal Steel & Power Limited to Jindal Steel Limited with effect from July 22, 2025.

There have been no material change(s) and commitment(s), affecting the financial position the Company between the end of the financial of the Company i.e., March 31, 2025, and the date of this Report.

There has been no change in the nature of business of the Company during the financial year ended

March 31, 2025.

In FY25, the steel industry faced challenges due to geopolitical tensions across various geographies globally and continued economic slowdown in China. The domestic steel consumption in China declined at a faster pace than the production, thereby elevated exports from China continued impacting the global and Indian steel prices. Various countries implemented tariff/ non-tariff barriers to stem the inflow of surplus steel from China in their economies. India also imposed

12% safeguard duty on import of certain steel products to counter the flow of low cost steel.

The Company recorded highest ever production and sales volume during the fiscal year on account of higher capacity utilization resulting from operational efficiencies. Production stood at 8.12 MT up 2.5% from

7.92 MT in FY24 while sales at 7.97 MT was up 3.9% from

7.67 MT as against previous fiscal year.

Despite increase in sales volume, gross revenues remained flattish at 58,044 crore on YoY basis, primarily on account of lower steel realisation. Share of domestic sales increased from 91% to 94% during FY25. The company achieved consolidated EBITDA of 9,485 crore lower by 7% YoY attributed majorly due to reduction in steel realization during the year.

Consolidated net profit for the year stood at 2,846 crore in FY25. This was after recording exceptional provision of 1,229 crore.

Overall, despite the challenges in the steel industry and the global market dynamics affecting prices and exports, the Company recorded highest ever production and sales volumes through operational excellence.

The Board of Directors of your Company is pleased to recommend a Final Dividend of B 2/- per equity share of face value B 1/- each for the financial year ended

March 31, 2025.

The Company has framed Dividend Distribution Policy in accordance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,2015 ("Listing Regulations"). The Policy may be accessed on the website of the Company at: www.jindalsteel.com.

The objective of this policy is to establish the parameters to be considered by the Board of Directors of your Company before declaring or recommending dividend.

The Company has not transferred any amount to reserves for the financial year ended March 31, 2025.

The Company has not accepted/received any deposits during the year under report, falling within the ambit of Section 73 of the Companies Act, 2013 ("the Act") and the Companies (Acceptance of Deposits) Rules, 2014.

Your Company's domestic credit ratings, as on March 31, 2025, are as follows:

During FY25, Credit ratings of the Company were reaffirmed at AA, Stable/A1(+) for its Long Term/Short Term debt facilities by CARE & ICRA both. Further, the rating for Non-Convertible Debentures of B 5,000 crore was also reaffirmed at AA, Stable from CARE ICRA both. However, there were no outstanding Non-Convertible Debentures as on March 31, 2025.

In accordance with the provisions of the Act, the Listing Regulations and Ind AS, the audited consolidated financial statements are provided in the Annual Report.

The Company's Authorised Share capital during the financial year ended March 31, 2025, remained at B 300,00,00,000/- (Rupees Three Hundred Crore only) consisting of 200,00,00,000 (Two Hundred Crore) equity shares of B 1/- (Rupee One only) each and 1,00,00,000 (One Crore) Preference Shares of B 100/- (Rupees One Hundred only) each.

The Company's paid-up equity share capital remained at B 1,02,00,88,097/- (Rupees One Hundred Two Crore Eighty-Eight Thousand and Ninety Seven only) comprising of 1,02,00,88,097 (One Hundred Two Crore Eighty Eight Thousand and Ninety Seven) equity shares of B 1/- (Rupee One only) whereas the paid-up preference share capital of the Company for the financial year ending March 31, 2025, was Nil.

In order to motivate, incentivize and reward employees, your Company instituted Employee Share Purchase Schemes namely JSPL ESPS-2013, JSPL ESPS-2018 and Employee Stock Option Scheme namely JSPL ESOP Scheme-2017 and Jindal Steel & Power Employee

Benefit Scheme-2022.

The Nomination and Remuneration Committee ("NRC") monitors the implementation of JSPL ESPS-2013, JSPL ESPS-2018 and Employee Stock Option Scheme namely JSPL ESOP Scheme-2017 and Jindal Steel &

Power Employee Benefit Scheme-2022, which are in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat

Equity) Regulations, 2021 ("SEBI SBEB Regulations"). Relevant disclosures pursuant to SEBI SBEB Regulations, as on March 31, 2025, are available on the website of the Company at www.jindalsteel.com.

Certificate from M/s RSMV & Co., Company Secretaries,

New Delhi (CP No. 11571), Secretarial Auditors, with respect to the implementation of JSP ESPS-2013, JSP ESPS-2018, Employee Stock Option Scheme namely JSPL ESOP Scheme-2017 and Jindal Steel & Power Employee

Benefit Scheme-2022 will be available on the website of the Company at www.jindalsteel.com.

There were no outstanding Non-Convertible Debentures as on March 31, 2025.

During the year under review, all Related Party Transactions ("RPTs") entered into by the Company, were approved by the Audit Committee and were at arm's length and in the ordinary course of business. Prior omnibus approval is obtained for related party transactions which are of repetitive nature and entered in the ordinary course of business and on an arm's length basis.

Regulation 23(4) of the Listing Regulations states that all RPTs with an aggregate value exceeding B 1,000 crore or 10% of annual consolidated turnover of the Company as per the last audited financial statements of the Company, whichever is lower, shall be treated as Material Related Party Transaction ("MRPTs") and shall require approval of shareholders by means of an ordinary resolution. The provisions of Regulations 23(4) requiring approval of the shareholders are not applicable for the RPTs entered into between a holding company and its wholly owned subsidiary and RPT transactions entered into between two wholly owned subsidiaries of the listed holding company, whose accounts are consolidated with such holding company and placed before the shareholders at the general meeting for approval. The said limits are applicable, even if the transactions are in the ordinary course of business of the concerned Company and at an arm's length basis. The amended Regulation 2(1) (zc) of the Listing Regulations has also expanded the definition of related party transactions which now includes a transaction involving a transfer of resources, services or obligations between a listed entity or any of its subsidiaries on one hand and a related party of the listed entity or any of its subsidiaries on the other hand, regardless of whether a price is charged or not. Further, any transaction between the Company or any of its subsidiaries on one hand, and any other person or entity on the other hand, the purpose and effect of which is to benefit a related party of the listed entity or any of its subsidiaries would be considered as RPTs regardless of whether a price has been charged. During the year under review, the Company has obtained the approval to enter into MRPTs with Nalwa Steel and Power Limited, Vulcan Commodities DMCC, Jindal Saw Limited, Jindal Paradip Port Limited, between Jindal Steel Odisha Limited and Jindal Saw Limited, and between Jindal Steel Odisha Limited and Nalwa Special Steel Limited. All the above related party transactions are in compliance with the provisions of

Listing Regulations, as applicable during the financial year ended March 31, 2025.

The disclosure of related party transactions as required under Section 134(3)(h) of the Act in Form AOC-2 is not applicable to the Company for FY25 and hence does not form part of this report.

The related party transaction policy of the company can be accessed on the Company's website at the link: www.jindalsteel.com.

Details of related party transactions entered into by the Company, in terms of Ind AS-24 and Listing Regulations have been disclosed in the notes to the standalone/ consolidated financial statements forming part of this report.

The particulars of loans, guarantees, securities and investments, covered under the provisions of Section

186 of the Act, are furnished in the financial statements.

A separate statement containing performance and highlights of Financial Statements of subsidiary, associate and joint venture companies is provided in the prescribed form AOC-1, attached to the Consolidated Financial Statements and forms part of this report.

The names of companies which have become or ceased to be subsidiary or joint venture or associate companies, if any, during F.Y. 2024-25 have been mentioned in the notes to the accounts.

The financial statements of subsidiary companies are kept open for inspection by the shareholders at the registered office of the Company during business hours on all days except on Saturdays, Sundays and on public holidays upto the date of the Annual General Meeting ("AGM") as required under Section 136 of the Act. Any member desirous of obtaining a copy of the said financial statements may write to the Company at its Registered Office or Corporate Office.

The audited financial statements including the consolidated financial statements and all other documents required to be attached thereto and financial statements of each of the subsidiaries have been uploaded on the website of your Company at www.jindalsteel.com.

Your Company has framed a policy for determining "Material Subsidiary" in terms of Regulation 16(c) of Listing Regulations. The policy may be accessed on the website of the Company at: www.jindalsteel.com.

Your Company recognises the benefits of having a diverse Board, and increasing diversity at the Board level is viewed as an essential element in maintaining a competitive advantage. Your Company believes that a diverse Board will leverage differences in thought, perspective, knowledge, skill, regional and industry experience, cultural and geographical backgrounds, which will ensure that the Company retains its competitive advantage.

Your Company believes that a diverse Board contributes towards driving business results, make corporate governance more effective, enhance quality and responsible decision-making capability, ensure sustainable development and enhance the reputation of the Company. The Policy to Promote Diversity on the Board of Directors (Diversity Policy) adopted by the Board, in compliance with Regulation 19(4) read with Part D of the Schedule II of the Listing Regulations, sets out its approach to diversity.

The Diversity Policy is available on the website of the Company at www.jindalsteel.com .

Mr. Sunjay Kapur, Independent Director of the Company ceased to be Independent Director due to sudden and untimely demise on June 12, 2025. The Company places on record its deep appreciation for the invaluable contributions made by Mr. Sunjay Kapur as a valued member of the Company's Board. Dr. Bhaskar Chatterjee, Independent Director ceased to be Independent Director w.e.f. July 28, 2025, due to completion of his tenure as Independent Director. The Board of Directors and the management of the Company place on record their sincere appreciation for the valuable guidance and contributions made by Dr. Chatterjee during his tenure as an Independent Director.

In accordance with the provisions of Section 152 of the Act and in terms of the Articles of Association of the Company, Mr. Sabyasachi Bandyopadhyay, Director of the Company, is retiring by rotation at the ensuing AGM of the Company and is eligible for re-appointment. Your Board recommends the re-appointment of Mr. Sabyasachi Bandyopadhyay, as Director of the Company.

The particulars in respect of Mr. Sabyasachi Bandyopadhyay, as required under Regulation 36(3) of Listing Regulations and Secretarial Standard -2, are mentioned in the Notice of AGM.

During the year under review, Mr. Sunil Agrawal, was appointed as Chief Financial Officer of the Company w.e.f. April 27, 2024. Subsequently, Mr. Mayank Gupta was appointed as the Chief Financial Officer and

Key Managerial Personnel of the Company with effect from January 30, 2025. Consequently, Mr. Sunil Agrawal, who was holding this position, stepped down as Chief Financial Officer but continued to oversee his responsibilities within the Finance function of the Company. Mr. Mayank Gupta, Chief Financial Officer resigned with effect from July 15, 2025.

Mr. Anoop Singh Juneja, Company Secretary and Compliance Officer of the Company, ceased to be Company Secretary and Compliance officer of the Company due to unfortunate and untimely demise on June 23, 2025. Mr. Juneja had been unwell for some time. The Board and management of the Company place on record their sincere appreciation for the valuable services and significant contributions made by him during his tenure.

The Board carried out an annual performance evaluation of its own performance, the performance of the Directors individually as well as the evaluation of the various Committees of the Board. Details of the same are given in the Corporate Governance Report which forms part of this report.

The Company has received declarations from each of the Independent Directors that they, respectively, meet the criteria of independence prescribed under Section 149 read with Schedule IV of the Act and rules made thereunder, as well as Regulations 16 and 25(8) of the Listing Regulations. Based on the declarations received, the Board considered the independence of each of the Independent Directors in terms of above provisions and is of the view that they fulfil the criteria of independence and are independent from the management.

In the opinion of the Board, there has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied of the integrity, expertise, and experience (including proficiency, in terms of Section 150(1) of the

Act and applicable rules thereunder) of all Independent Directors on the Board. Further, in terms of Section 150 read with Rule 6 of the Companies (Appointment and

Qualification of Directors) Rules, 2014, as amended,

Independent Directors of the Company have included their names in the data bank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

The Board of Directors met 7 (Seven) times during the period under review. The details of number of meetings of the Board and various Committees of the Board of your Company are set out in the Corporate Governance Report, which forms part of this report.

The Directors state that applicable secretarial standards i.e., SS-1 and SS-2, relating to meetings of the Board of Directors and General Meetings have been duly followed by the Company.

In accordance with the provisions of Section 178 of the Act and Part D of Schedule II of the Listing Regulations, the policy on Nomination and Remuneration of Directors, KMPs and Senior Management of your Company is uploaded on the website of the Company and may be accessed at: www.jindalsteel.com. During the year under review, there has been no change to the Policy.

In terms of the provisions of Section 197(12) of the Act read with Rules 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules and the disclosures relating to remuneration and other details, is annexed as Annexure – A to this report.

Lodha & Co. LLP, Chartered Accountants (Firm Registration No. 301051E/E300284), New Delhi, were appointed as the Statutory Auditors for a period of 5 years from the conclusion of 42^nd AGM till the conclusion of 47^th AGM of the Company.

The Statutory Auditors have confirmed that they are not disqualified from continuing as the auditors of the Company.

The Statutory Auditors have issued an unmodified opinion on the Company's Financial Statements for the financial year ended March 31, 2025 and the Auditor's

Report for the year under review does not contain any qualification, reservation, adverse remark or disclaimer. The notes on financial statements referred to in the

Auditor's Report are self-explanatory and do not call for any further comments.

There are no instances of any fraud reported by the Statutory Auditors to the Audit Committee or the Board pursuant to section 143(12) of the Act.

M/s RSMV & Co., Company Secretaries, New Delhi (CP No. 11571) were appointed to conduct the Secretarial Audit of the Company for the financial year 2024-25. In terms of Regulation 24A of the Listing Regulations, M/s RSMV & Co., Company Secretaries were also appointed as Secretarial Auditors of Jindal Steel Odisha Limited, a material unlisted subsidiary of the Company.

Secretarial Audit Report issued by M/s RSMV & Co., Company Secretaries, New Delhi of the Company as well as Jindal Steel Odisha Limited are annexed herewith as Annexure - B to the Report.

The Board of Directors at its meeting held on August 6, 2025, based on the recommendations of the Audit Committee and subject to approval of members at the ensuing 46^th AGM, approved the appointment of M/s RSMV & Co., Company Secretaries, New Delhi, for a first term of 5 (five) consecutive years beginning from Financial Year 2025-26. Accordingly, an appropriate resolution for appointment of M/s RSMV & Co., Company Secretaries, New Delhi, is included in the Notice convening the 46^th AGM of the Company.

In terms of sub-section (1) of Section 148 of the Act read with Companies (Cost Records and Audit) Rules, 2014, as amended from time to time, the Company is required to maintain the cost records. Accordingly, such accounts and records have been maintained by the Company.

M/s Shome & Banerjee, Cost Accountants, were appointed as the Cost Auditors of the Company for auditing the cost records of the Company for the financial year 2025-26, subject to ratification of their remuneration by the Shareholders of the Company in the 46^th AGM of the Company. Accordingly, an appropriate resolution seeking ratification of the remuneration for the financial year 2025-26 of M/s Shome & Banerjee, Cost Auditors, is included in the Notice convening the 46^th AGM of the Company.

The Company has in place a robust risk management framework which identifies and evaluates business risks and opportunities. The Company recognises that the applicable risks need to be managed and mitigated to protect the interests of the shareholders and stakeholders, to achieve business objectives and enable sustainable growth. The risk management framework is aimed at effectively mitigating the Company's various business and operational risks, through strategic and tactical actions. Risk management is embedded in our critical business activities, functions and processes. The risks are reviewed for the change in the nature and extent of the major risks identified since the last assessment. It also provides control measures for risks and future action plans.

The Company has in place adequate internal financial controls with reference to financial statements and such internal financial controls are operating effectively.

Your Company has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records, and timely preparation of reliable financial disclosures.

The Company strongly believes that sustainable community development is essential for harmony between the community and the industry. The Company endeavours to make a positive contribution especially to the underprivileged communities by supporting a wide range of socio-economic, educational and health initiatives.

The Health, Safety, CSR, Sustainability and Environment Committee ("HSCSE Committee") of the Board of Directors of the Company oversees the implementation of CSR Policy of the Company.

In line with the provisions of the Act and on the recommendations of the HSCSE Committee, the Board of Directors has approved the CSR Policy of the Company. Detailed CSR Policy of the Company has been uploaded on the website of the Company at www.jindalsteel.com.

The Annual Report on the CSR activities for the financial year 2024-25 is annexed herewith as Annexure – C to this report.

No significant material order(s) passed by the regulators/ courts which would impact the going concern status of the Company and its future operations during the year under review.

Pursuant to Section 134(3) (c) of the Act, your Directors state that: (a) in the preparation of the annual accounts for the year ended March 31, 2025, the applicable accounting standards and Schedule III to the Act, have been followed and there are no material departures from the same; (b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your Company as at March

31, 2025 and of the profit of the Company for the year ended on that date;

(c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (d) The Directors have prepared the annual accounts on a going concern basis;

(e) The Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and (f) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

As stipulated under Listing Regulations, a separate section titled "Business Responsibility and Sustainability Report" forms part of this Annual Report which offers more detailed information on your Company's actions and initiatives related to environmental, social, and governance matters.

As stipulated under Listing Regulations, a separate section titled "Management Discussion and Analysis Report", forms part of this Annual Report.

The particulars related to conservation of energy, technology absorption and foreign exchange earnings and outgo as required to be disclosed under Section 134(3) (m) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014, is annexed herewith as Annexure – D to this Report.

In accordance with the provisions of Sections 92 and 134(3)(a) of the Act read with the Companies (Management and Administration) Rules, 2014, the

Annual Return in e-form MGT-7 for the financial year ended March 31, 2025 has been uploaded on the website of the Company i.e. www.jindalsteel.com.

Your Company is committed to achieve the highest standards of Corporate Governance and adhere to the Corporate Governance requirements set out by the Securities and Exchange Board of India. Your Company has also implemented several best Corporate Governance practices as prevalent globally.

The report on Corporate Governance as stipulated under the Listing Regulations for the Financial Year 2024-25 and a certificate issued by Navneet K. Arora & Co. LLP, Company Secretaries in Practice confirming compliance with the conditions of Corporate Governance is annexed herewith as Annexure – E to this report.

Your Company has formulated a robust vigil mechanism to deal with instances of unethical behaviour, actual or suspected fraud or violation of Company's code of conduct or ethics policy. The details of policy are explained in the Corporate Governance Report and also uploaded on website of the Company at: www.jindalsteel.com.

As per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder, your Company has constituted an Internal Complaints Committee having designated independent member(s) to redress complaints regarding sexual harassment. The details pertaining to complaints received on matters pertaining to sexual harassment during the Financial Year 2024-25, are as below: (a) number of complaints of sexual harassment received in the year: 10 (b) number of complaints disposed off during the year: 10 (c) number of complaints pending for more than ninety days: NA

There was no application made by the Company initiating insolvency proceedings against any another entity nor are any proceedings pending against the Company under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year under review.

There was no one time settlement of loan from banks or financial institutions by the Company during the year under review. Accordingly, there are no details regarding difference between amount of the valuation done at the time of one time settlement and the valuation done while taking loan from the Banks or Financial Institutions.

The Company has complied with provisions relating to the Maternity Benefit Act, 1961

Statements in the Board's Report and the Management Discussion & Analysis describing the Company's objectives, expectations or forecasts may be forward looking within the meaning of applicable Securities Laws and Regulations. Actual results may differ materially from those expressed in the statement. Important factors that could influence the Company's operations include global and domestic demand and supply conditions affecting selling prices of finished goods, input availability and prices, changes in Government Regulations, Tax Laws, Economic Developments within the country and other factors such as litigation and industrial relations.

The Directors wish to place on record their appreciation for the sincere services rendered by Company's staff and workers at all levels. Your Directors also wish to place on record their appreciation for the valuable cooperation and support received from the Government of India, various State Governments, the Banks/ Financial Institutions and other stakeholders such as shareholders, customers and suppliers, among others. The Directors also commend the continuing commitment and dedication of the employees at all levels, which has been critical for the Company's success. The Directors look forward to their continued support in future.

(i) Ratio of the remuneration of each Executive Director to the median remuneration of the employees of the Company for the Financial Year 2024-25, the percentage increase in remuneration of each Executive Director during the Financial Year 2024-25:

(ii) The percentage increase in remuneration of Chief Executive Officer,

Secretary during the Financial Year 2024-25:

^Since the remuneration paid to Mr. Sunil Agrawal and Mr. Mayank Gupta, in the previous year was for the part of the year, the percentage increase in remuneration is not comparable and, therefore, has not been stated.

Note: the percentage increase in Remuneration and Ratio of Remuneration of each Director to median remuneration of the employees as above is calculated on actual payment basis.

(iii) The number of permanent employees on the rolls of the Company as on March 31, 2025, was 5,918 and the median remuneration was B 9.15 lakh.

(iv) Median remuneration of employees has increased by 14.66%.

(v) Average percentiles increase already made in the salaries of the employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration:

(vi) The remuneration of Directors, KMPs and other employees is in accordance with the Remuneration Policy of the Company.

B. Employed throughout the financial year and were in receipt of remuneration of not less than L 1,02,00,000 (Rupees One Crore Two Lakh only) per annum:

C. Employed for part of the financial year and were in receipt of remuneration of not less than L 8,50,000 (Rupees Eight Lakh Fifty Thousand only) per month:

1. Remuneration includes basic salary, allowances, leave travel allowances, company's contribution to provident fund and superannuation fund, leave encashment, reimbursements, monetary value of perquisites, target variable pay etc.

2. None of the employees holds by himself/herself or along with his/her spouse and dependent children, 2% or more of equity shares of the Company.

3. All appointments are/were contractual in accordance with terms & conditions as per company rules.

4. None of the employee(s) is a relative of any Director of the Company.

5. Details of Remuneration of Wholetime Directors are given elsewhere in the Corporate Governance Report.

For The Financial Year Ended 31^st March, 2025

[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]

To

The Members of

CIN: L27105HR1979PLC009913

O.P. Jindal Marg, Hisar – 125 005, Haryana

We have conducted the secretarial audit of compliance with the applicable statutory provisions and adherence to good corporate practices by

JINDAL STEEL & POWER LIMITED (hereinafter called

"the Company") for the financial year ended 31^st March, 2025. Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.

Based on our verification of the Company's books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information, details and explanation provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended 31^st March, 2025 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter: We have examined the books and papers, minute books, forms and returns filed and other records maintained by the Company for the Financial Year ended 31^st March, 2025 according to the provisions of: i. The Companies Act, 2013 ("the Act") and the rules made thereunder; ii. The Securities Contracts (Regulation) Act, 1956 ("SCRA") and the rules made there under; iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed there under; iv. Foreign Exchange Management Act, 1999 and the rules and regulation made thereunder to extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial borrowings; v. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act'): - a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 as amended from time to time; c) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; - Not applicable as the Company is not registered as Registrar to an Issue and Share Transfer Agent during the year under review; d) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015; e) The Securities and Exchange Board of India (Issue of Capital and disclosure Requirements) Regulation, 2018; f) The Securities and Exchange Board of India

(Share Based Employee Benefits and Sweat

Equity) Regulations, 2021; g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulation, 2021; - Not applicable as there was no reportable event during the period under review; h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; - Not applicable as there was no reportable event during the period under review; i) The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 – Not applicable as the Company has not issued and listed Non-convertible securities during the financial year under review;

We have also examined compliance with the applicable clauses of the following: (i) Secretarial Standards with respect to Meetings of Board of Directors (SS-1), General Meetings (SS-2) and Dividend (SS-3) issued by the Institute of Company Secretaries of India; (ii) The Listing Agreements entered into by the Company with BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) read with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and amendments made thereunder (‘Listing Regulations') During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. as mentioned above.

As far as the compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, we report that all events which were due to be classified as UPSI has been captured in the SDD data base maintained by the Company as prescribed under Regulation 3(5) and 3(6) of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulation, 2015.

We further report that the Company has, in our opinion, complied with the provisions of the Act and the rules made under and the Memorandum of Association and Articles of Association of the Company, with regard to: a. Maintenance of various Statutory registers and documents making necessary entries therein; b. Closure of the register of member's / record date; c. forms, returns, documents and resolutions required to be filed with the Ministry of

Corporate Affairs, Registrar of Companies and the Central Government; d. service of documents by the Company on its Members, Auditors and the Registrar of Companies; e. Notice / Agenda of Board Meetings and Committee Meetings of directors and the Shareholders; f. Minutes of proceedings of General Meetings and of the Board and its Committee meetings; g. Approvals of the Members, the Board of Directors, the Committees of Directors and the government authorities, wherever required; h. The Company has obtained necessary disclosures from all the Directors, confirmation towards their eligibility to become the director of the company, qualification to become an Independent Director of the Company, nomination of Directors in various committee(s) are within the limits prescribed under the Act and compliances under the Code of Conduct from Directors; i. Constitution of the Board of Directors / Committee(s) of Directors, appointment, retirement and re-appointment of Directors including the Managing Director and Whole-time Director; j. Payment of remuneration to Directors including the Whole-time Directors and Managing Director; k. Appointment and remuneration of Auditors; l. Transfers and transmissions of the Company's shares, and issue and dispatch of duplicate certificates of shares; m. Borrowings and registration, modification and satisfaction of charges wherever applicable; n. Financial Statements comprising the balance sheet as prescribed under Part I, statement of profit and loss as prescribed under Part II and

General Instructions for preparation of the same as prescribed in Schedule III to the Act; o. Board's Report; p. Contracts, common seal, registered office and publication of name of the Company; and q. All other applicable provisions of the Act and the Rules made under the Act.

The 45^th Annual General Meeting of the Company was held on 30^th August, 2024.

We further report that: vi. The following are various laws applicable to the Company. According to the information/details/ explanation provided to us, the Company has complied with the provisions of the following Acts and the rules made thereunder, and the Company has a mechanism to monitor the compliances of the said laws, to the extent applicable.

• The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;

• Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder;

• The Factories Act,1948

• The Payment of Wages Act,1936

• The Minimum Wages Act,1948

• Employees Provident Fund and Misc. Provisions Act,1952

• Employees State InsuranceAct,1948

• The Payment of Bonus Act,1965

• The Environment (Protection) Act,1986

• The Explosives Act, 1884

• The Mines Act, 1952

• The Mines & Minerals (Regulation & Development) Act, 1956

• The Hazardous Waste (Management, Handling Transboundary Movements) Rules, 2008

• Income Tax Act 1961, Goods and Services Tax Act, 2016 and rules made thereof.

• The Indian Contract Act, 1872

• The Negotiable Instrument Act,1881

• The Maternity Benefits Act 1961

• The Payment of GratuityAct,1972

• The Industrial Disputes Act,1947

• The Child Labor (Regulation and Abolition) Act,1970

• The Indian Registration Act, 1808

• The Industrial Health & Safety Act, 1972

• The Indian Evidence Act, 1872

• The Consumer Protection Act, 1886

• The Chattisgarh Labour Welfare Fund Act, 1982

• The Odisha Labour Welfare Fund Act, 1996

• The Jharkhand Labour Welfare Fund Act

• The Weekly Holidays Act,1942

• The Electricity Act, 2003

• The Sexual Harassment of Women at Work Place (Prevention, Prohibition, and Redressal) Act, 2013

• The Water (Prevention & Control of Pollution) Act 1974 and rules thereunder

• The Air (Prevention & Control of Pollution) Act 1981 and rules thereunder We further report that:

• The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non- Executive Directors, Independent Directors including Women Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.

• Adequate notice is given to all the Directors to schedule the Board Meetings, agenda and detailed notes on agenda were also sent within the prescribed timeline, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

• All the decisions of the Board and Committees thereof were carried through with requisite majority.

The Company has obtained all the necessary approvals under the various provisions of the Act, as and when required.

We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations, and guidelines.

During the period under review, the Company has taken the approvals of shareholders for the following matters:

1) To approve the related party transaction(s) with Nalwa Steel and Power Limited

2) To approve the related party transaction(s) with Vulcan Commodities DMCC

3) To approve the related party transaction(s) with Jindal Saw Limited

4) To approve the related party transaction(s) with respect to corporate guarantee to be issued on behalf of Jindal Paradip Port Limited

5) To approve the related party transaction(s) between Jindal Steel Odisha Limited and Jindal Saw Limited

6) To approve the related party transaction(s) between Jindal Steel Odisha Limited and Nalwa Special Steel Limited

1) To consider and adopt (a) Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024 and the reports of Board of Directors and Auditors thereon; (b) Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, and the report of Auditors thereon;

2) To declare final dividend for the financial year

2023-24

3) To appoint Mr. Damodar Mittal (DIN: 00171650), who retires by rotation and being eligible, offers himself for reappointment as a Director

4) To ratify the remuneration of Cost Auditors for the Financial Year ending March 31, 2025 vii. There are 58 cases filed by/ against the company having financial implication of Rupees 50 crore or more, under various statutes, which are at different stages. For the sake of brevity, the title, forum and the status are not given in this report. Details of the same were provided to us for our verification and records.

For The Financial Year Ended 31^st March, 2025

[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014]

To

The Members

(Formerly Known as JSP Odisha Limited) GA PL No 3 Rev Pl No 1163N1164 Forest Park Bhubaneswar Odisha 751009

We have conducted the secretarial audit of the compliance records and Books of Accounts of applicable statutory provisions and the adherence to good corporate practices by Jindal Steel Odisha Limited (Formerly known as JSP Odisha Limited) (hereinafter called the "Company"). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.

Based on our papers, minute books, forms and returns filed and other records maintained by the company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, We hereby report that in our opinion, the company has, during the audit period covering the financial year ended on 31 ^st March, 2025 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter: We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on 31 ^st March, 2025 according to the provisions of: i. The Companies Act, 2013 (the Act) and the rules made thereunder; ii. The Depositories Act, 1996 and the Regulations and Bye-laws framed there under; iii. The Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial borrowings.

(The Company did not have any Foreign Direct Investment during the financial year); iv. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act') are not applicable on the Company, as the Company is not listed on the reorganized stock exchange of India: - a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,2015; c) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; d) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as ‘Listing Regulations'). of the Company books, e) The Securities and Exchange Board of India (Depositories and Participant) Regulations, 2018.

We have also examined compliance with the applicable clauses of Secretarial Standards with respect to Meetings of Board of Directors (SS-1), General Meetings (SS-2) and Dividend (SS-3) issued by the Institute of Company Secretaries of India v. It is further reported that the Company has, in our opinion, complied with the provisions of Companies Act, 2013 and the rules made under the Act and the Memorandum and Articles of Association of the Company, with regard to: a) Maintenance of the various Statutory registers and documents making necessary entries therein; b) Closure of the register of members/ record date; c) forms, returns, documents and resolutions required to be filed with the Registrar of

Companies and the Central Government; d) service of documents by the Company on its Members, Auditors and the Registrar of Companies; e) Notice of Board Meetings and Committee Meetings of directors; f) The 3^rd Annual General Meeting held on 30.09.2024. g) Minutes of proceedings of General Meetings and of the Board and its Committee meetings; h) Approvals of the Members, the Board of Directors, the Committees of Directors and the government authorities, wherever required; i) Constitution of the Board of Directors / Committee(s) of Directors, appointment, retirement and re-appointment of Directors including the Managing Director and Whole-time Director; j) Payment of remuneration to Directors (only payment of sitting fees in respect of directors, as no other remuneration is paid to the directors) including the KMP; k) Appointment and remuneration of Auditors; l) Transfers and transmissions of the Company's shares and issue and dispatch of duplicate certificates of shares; m) Form of balance sheet as prescribed under

Part I, form of statement of profit and loss as prescribed under Part II and General Instructions for preparation of the same as prescribed in Schedule III to the Act; n) Director's report; o) Contracts, common seal, registered office and publication of name of the Company; and p) All other applicable provisions of the Act and the Rules made under the Act.

We further report that:

The following are the various laws applicable to the Company. According to the information/ details/explanation provided to us, the Company has complied with the provisions of the said Acts and the Company has a mechanism to monitor the compliances of the said laws, to the extent applicable.

• The Factories Act,1948

• The Payment of Wages Act,1936

• The Minimum Wages Act,1948

• Employees Provident Fund and Misc. Provisions Act,1952

• Employees State InsuranceAct,1948

• The Payment of Bonus Act,1965

• The Environment (Protection) Act,1986

• Income Tax Act 1961, Goods and Services Tax Act, 2016 and rules made thereof.

• Negotiable Instrument Act,1881

• Maternity Benefits Act 1961

• Payment of GratuityAct,1972

• The Industrial Disputes Act,1947

• The Child Labor (Regulation and Abolition) Act,1970

• The Weekly Holidays Act,1942

• Water (Prevention & Control of Pollution) Act 1974 and rules thereunder

• Air (Prevention & Control of Pollution) Act 1981 and rules thereunder During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above.

We further report that:

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors and Non- Executive Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. However, following the resignation of Ms. Suhana Bibi as a Woman Director effective from December 20, 2024, the Company has appointed Mrs. Shruti Agrawal (DIN: 11138183) as Women Director w.e.f. June 04,

2025 of the company to fulfill the requirements of Section 149(1) of the Act. The following changes took place during the audit period:

Mr. Kashish (PAN: ETTPK2884J) has been appointed as a company Secretary of the Company w.e.f. May 11, 2024.

Mr. Hanuman Kumar Sharma (PAN: AMCPS0963N) has been appointed as a Chief Financial Officer of the Company w.e.f. May 11, 2024.

Ms. Suhana Bibi (DIN: 10197434) has ceased to be Director of the Company with effect from the close of business hours on December 20, 2024 due to her prior engagement.

Mr. Venkata Sridhar Revinipati (DIN: 10072538) has ceased to be Director of the Company with effect from the close of business hours on February 28, 2025 due to his prior engagement.

However after the financial year ended on March

31, 2025, the following changes took place in the directorship of the company: Mr. Dinesh Kumar Tripathi (DIN: 11096894) has been appointed as a Whole-Time Director of the Company w.e.f. May 28, 2025.

Mrs. Shruti Agrawal (DIN: 11138183) has been appointed as a Women Director of the Company w.e.f. June 04, 2025.

Adequate notices were given to all the Directors for the Board Meetings, agenda and detailed notes on agenda were also sent within the prescribed timelines, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

All the decisions of the Board of Directors were carried through with requisite majority.

The Company has obtained all the necessary approvals under the various provisions of the Act, as and when required.

We further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations, and guidelines.

During the period under review, the Company has taken the approval of shareholders for the following matters:

Approval of conversion of Loan into Equity in case of an ‘event of default' in terms of the Facility Agreement, the whole or part of the Secured Obligations due to the lenders (as defined in the Facility Agreement) in relation to the working capital facilities for an aggregate amount of B 2,000,00,00,000 (Rupees Two Thousand Crore only).

Amendment to Clause iii (A) of the Memorandum of Association of the Company.

Extra-Ordinary General Meeting (September 19, 2024)

Increase in the Authorised Share Capital of the Company from B 674,00,00,000/- (Rupees Six Hundred and Seventy Four Crore only) to B 905,31,00,000/- (Rupees Nine Hundred Five Crore and Thirty One Lakh only) pursuant to the approval of the members of the Company.

Increased in the Authorized Share capital of the Company from B 905,31,00,000/- (Rupees Nine Hundred Five Crore and Thirty One Lakh only) divided into 45,74,70,000 (Forty Five Crore Seventy Four Lakh and Seventy Thousand) equity shares of B 10/- (Rupees Ten only) each and 44,78,40,000 (Forty Four Crore Seventy Eight Lakh and Forty Thousand) preference shares of B 10/- (Rupees Ten only) each to B 14,00,00,00,000/- (Rupees Fourteen Hundred Crore only) divided into 60,00,00,000 (Sixty Crore) equity shares of B 10/- (Rupees Ten only) each and 80,00,00,000 (Eighty Crore) preference shares of B 10/- (Rupees Ten only) each

The approval of the members has been granted to the Board of Directors invite, offer, issue, and allot of Compulsorily Convertible Preference shares upto 80,00,00,000 (Eighty Crore Only) Compulsorily Convertible Preference Shares ("CCPS") of B 10/- (Rupees Ten only) each at a premium of B 90/- (Rupees Ninety only) each, aggregating to B 800,00,00,000 (Rupees Eight Hundred Crore only), in one or more tranche(s), for cash from time to time.

The approval of the members has been granted to cancel the un-issued Authorised Equity Share Capital amounting to B 2,60,00,00,000/- (Rupees Two Hundred and Sixty Crore only) divided into 26,00,00,000 (Twenty Six Crore) Equity Shares of B 10/- (Rupees Ten only) each out of total Authorised Equity Share Capital of B 6,00,00,00,000/- (Rupees Six Hundred Crore only) and un-issued Authorised Preference Share Capital of B 3,40,00,00,000/- (Rupees Three Hundred and Forty Crore only) divided into 34,00,00,000 (Thirty Four Crore) Preference Shares of B 10/- (Rupees Ten only) out of total Authorised Preference Share Capital of B 8,00,00,00,000/- (Rupees Eight Hundred Crore only) and in lieu of the cancelled Authorised Equity Share Capital and Authorised Preference Share Capital, increase the Authorised Preference Share Capital of B 6,00,00,00,000 (Rupees Six Hundred Crore only) divided into 6,00,00,000 (Six Crore) Preference Shares of B 100/- (Rupees One Hundred only).

The approval of the members has been granted to invite, offer, issue, and allot 0.001% Optionally Convertible Redeemable Preference Shares ("OCRPS" or "Preference Shares") up to 6,00,00,000 (Six Crore) with a face value of B 100/- (Rupees One Hundred Only) per OCRPS, for an aggregate value not exceeding B 6,00,00,00,000 (Rupees Six

Hundred Crore only), in one or more tranches, from time to time.

We further report that during the audit period, the Company has issued and allotted: –

• Allotment of 75,06,000 Equity Shares of B 10/- each at a premium of B 90/- on the 18^th day of April 2024 to the existing shareholders of the company.

• Allotment of 39,81,000 Equity Shares of B 10/- each at a premium of B 90/- on the 16^th day of May 2024 to the existing shareholders of the Company.

• Allotment of 65,50,729 of B 10/- each at a premium of B 90/- on the 05^th day of July 2024 to the existing shareholders of the Company.

• Allotment of 38,90,000 Equity Shares of B 10/- each at a premium of B 90/- on the 12^th day of August 2024 to the existing shareholders of the Company.

• Allotment of 55,00,000 Equity Shares of B 10/- each at a premium of B 90/- on the 16^th day of September 2024 to the existing shareholders of the Company.

• Allotment of 1,29,00,000 Equity Shares of B 10/- each at a premium of B 90/- on the 17^th day of October 2024 to the existing shareholders of the Company.

• Allotment of 74,00,000 Compulsorily Convertible Preference Shares ("CCPS") of B 10/- each at a premium of B 90/- on the 04^th day of December 2024 to the existing shareholders of the Company.

• Allotment of 74,06,000 Compulsorily Convertible Preference Shares ("CCPS") of B 10/- each at a premium of B 90/- on the 13^th day of January 2025 to the existing shareholders of the Company.

• Allotment of 81,00,000 Compulsorily Convertible Preference Shares ("CCPS") of B 10/- each at a premium of B 90/- on the 07^th day of February 2025 to the existing shareholders of the Company.

• Allotment of 6,08,15,000 Compulsorily Convertible Preference Shares ("CCPS") of B 10/- each at a premium of B 90/- on the 03^rd day of March 2025 to the existing shareholders of the Company.

1. Brief Outline on CSR Policy of the Company:

The Company strongly believes that sustainable community development is essential for harmony between the community and the industry. The Company endeavours to make a positive contribution, especially to the underprivileged communities by supporting a wide range of socio economic, educational and health initiatives.

The Health, Safety, CSR, Sustainability and Environment Committee ("HSCSE Committee") of the Board of Directors of the Company oversees the implementation of CSR Policy of the Company.

In the line with the provisions of the Act and on the recommendations of the HSCSE Committee the Board of Directors has approved the CSR Policy of the Company. Details CSR Policy of the Company has been uploaded on the website of the Company at www.jindalsteel.com.

2. Composition of CSR Committee as at March 31, 2025:

5. Details of the amount available for set off in pursuance of sub-rule (3) of the rule 7 of the Companies

6. Average net profit of the company as per section 135(5): B 8,351.62 crore

7. (a) Two percent of average net profit of the company as per section 135 (5): B 167.03 crore (b) Surplus arising out of CSR projects or programmes or activities of the previous financial year: NIL (c) Amount required to be set-off for the financial year if any: NIL

(d) Total CSR obligation for the financial year (7a+7b-7c): B 167.03 crore

8. (a) CSR amount spent or unspent for the financial year:

Note: * A part of the CSR activities was implemented by implementing agencies.

(c) Details of CSR Amount spent against other than ongoing projects for the financial year: N.A.

(d) Amount spent in Administrative Overheads: B 2.77 crore

(e) Amount spent in Impact Assessment, if applicable: Not Applicable (f) Total amount spent for the Financial Year (8b+8c+8d+8e): B 267.42 crore (g) Excess amount for set off, if any:

9. (a) Details of the Unspent CSR amount for the preceding three financial years:

10. In case of the creation or acquisition of the capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the financial year(asset-wise details): Not Applicable

(a) Date of creation or acquisition of the capital asset(s): N.A.

(b) Amount of CSR spent for creation or acquisition of the capital asset(s): N.A.

(c) Details of the entity or public authority or beneficiary under whose name such capital asset is registered, their address etc. : N.A.

(d) Provide details of the capital asset(s) created or acquired (including complete address and location of the capital asset): N.A.

11. Specify the reason(s), if the company has failed to spend two percent of the average net per section 135(5): Not Applicable

1. Installation of 800 KW rooftop solar in Rail Forging plant [approx. 11,91,360 kWh saving]

2. Installation of 250 TPH coal dryer in Coke Oven plant [approx. 1,124 tons of coal saving]

3. Installation of LED lights in DCPP coal bunker area [approx. 57,857 kWh saving]

4. Replacement of damaged APH tubes in DCPP [approx. 26,932,060 kWh and 24,236 tons of coal saving]

5. LED lights installed at Coke Oven Plant area [approx. 78,490 kWh saving]

1. A 205 TPH Gas Fired Boiler has been Installed to Improve the utilization of BF Gas

2. Fuel Rate (Coke + PCI) has been reduced by 10 kg/Ton of Hot Metal by the Process Improvements in Blast furnace Plant

3. VFD have been Installed in Secondary Air Fan – 1 & 2 (2 x 800 kW Motor) in Power Plant Unit – 2

4. Production of Byproducts (Tar & Crude Benzol) have been Improved by 2% by the Process Improvements in Coke Oven Plant

5. 2 Nos of Cooling Tower Fan Blades have been replaced with Energy Efficient Blades

6. Specific Power Consumption has been reduced by 6% by the Process Improvements in Sinter Plant and Coal Gasification Plant

7. 2200 Nos of Conventional Lighting has been replaced with LED Lighting in DRI Plant

8. Specific Fuel Consumption of Reheating Furnaces has been reduced by 3% in Plate Mill and Bar Mill by the Process Optimization.

A Producer Gas Plant successfully commissioned this is designed to generate an impressive 83,700Nm?/hr of producer gas, the plant features

18 advanced Gasifiers, each with a diameter of 4.2 meters—a landmark initiative aimed at significantly reducing reliance on conventional furnace oil in pellet production. Producer Gas is a mixture of Gases that contain carbon monoxide, carbon dioxide, nitrogen, and Hydrogen.

Principle chemical reactions in producer gas plant using coal as fuel and moist blast (air + steam) for gasification.

The object of the New Technology is to produce a clean consistent quality Producer Gas of high

Calorific Value from majority of grades of Indian

Coal from ‘A' to ‘F/G' grade and with faster rate of gasification or more coal through-put per unit grate area. With this objective in view, a deep coal bed has been introduced with extension of shaft over the conventional generator proper of the single stage design and the product gas has been fully diverted to the top to come out from the top of the Gasifiers.

FY-24-25:

Gas Generation: 161025319.5 NM3 FO Replacement: 17897 KL.

Installation of 1 MWp Solar Power Plant:

A rooftop solar power system has been successfully installed, generating approximately 1,429 MWh annually (~1,20,000 KWh per month), resulting in significant grid power savings and reduced dependency on non-renewable energy sources. Patratu:

Replacing conventional lights with LED lights resulted in an energy saving of approximately 1080107 KWH

From rooftop solar plants, total 22,89,192 units of power were used.

1. Solar is being used for weighbridge operation.

2. Wheel washing system with automatic vehicle sense technology has been installed for effective fleet cleaning and energy conservation.

3. Fog cannon with firefighting are being used for effective dust suppressions.

4. Mist cannon (fixed) installed for effective dust suppression.

5. Installation of 5 KLD STP for treatment and recycling of domestic waste water.

6. Staff are using bus facilities for traveling to the office from residence.

7. Surface mines are also being used for coal production.

8. Installation of Roof Top Rain water harvesting structure.

1. Solar based Digital water level recorder is being used for water level data.

2. Solar is being used for lightening of magazine areas.

3. All mine and office lighting arrangements are fully LED which is energy efficient.

Commissioning of a 4 MW rooftop solar plant at the officer's hostel, WRM & BRM Sheds resulted energy savings of 1679378 KWh.

Adoption of non-conventional energy via installation of 800 KW rooftop solar in the Rail Forging plant, replacing grid electricity and reducing carbon footprint.

1. Solar based Digital water level recorder- 194000/-.

The capital Investment for conversion of conventional light to LED lights is B 5667863/-

B. Technology Absorption: i) Major efforts made towards technology absorption: Raipur a. Robotic Welding Station b. Table Top Welding Cobot c. AI based Safety Violation Detection System

1. Zeman SBA Line Installation (for Welding Automation)

Installed advanced robotic SBA (Steel Beam Assembler) line integrated with Fronius TPSi power sources.

Introduction of robotic welding ensures high-speed, uniform welds with better repeatability.

2. Profile Cutting Automation (Plasma XPR300 and 20kW Laser Cutting):

Commissioning of 20kW laser/plasma-based robotic cutting system with 6-axis motion control and integrated nesting software for precision profile cutting (H-beam,

U-beam, angles, etc.). ii) The benefits derived like product improvement, cost reduction, product development or import substitution: Raigarh:

1. Jindal steel Raigarh has received approval from RDSO for manufacturing the End-forged TWA (Thick Web Asymmetrical) rails. This enables us to supplying end-forged TWA rails in the ZU-1-

60/60E1A1 profile, specifically for use in thick web switches and switch expansion joints

2. Development of SA213 T12 Grade steel in round section for high temperature (boiler) application for Seamless Pipes manufacturing.

3. Jindal Steel Raigarh has obtained BIS licenses to produce Structural Weather-Resistant Steel (IS 11587) in the long products segment

4. Jindal steel Raigarh has obtained BIS licenses to produce Seismic Resistance Grade (IS 15962) steels in flat and structural segment.

5. Developed Fire-Resistant Grade steel (IS 15103) in the flat product segment and secured the corresponding BIS licenses

6. Jindal steel Raigarh has obtained Bureau Veritas and IRS certifications for DH36, a high-strength structural steel grade widely used in shipbuilding for hull construction.

7. Jindal steel Raigarh has obtained commercial production approvals for track shoes from leading OEMs, including Caterpillar and Tata Hitachi.

1. API 5L Grade X65 MS / L450 MS / L450 MO PSL2 plate, specifically for offshore sour service applications, has been developed in 19.05, 28.6 & 40 mm thickness in collaboration with Jindal Saw Limited.

1. New grade plate developed in EN 10025-3 S460 NL in furnace normalized condition for thickness 70 mm.

2. Developed a new grade plate design in EN10025-2 S355 J2+N in normalizing rolling condition for thicknesses range 8 to 50 mm with restricted %C.

3. New grade plate developed for E 350 C in normalizing rolling condition for thicknesses range 10 to 40 mm for Yellow Goods segment to improve surface quality.

4. New grade plate developed in DNV GRADE NV E36 in TMCP condition for thicknesses range 8 to 40 mm.

5. New grade plate developed for AH36/DH36 in TMCP condition for thicknesses range 8 to 40 mm.

6. New grade plate developed for ASTM A690 in As Rolled rolling condition for thicknesses up to 20mm.

7. New grade plate developed in ABS Grade B in As Rolled condition for thickness 100 mm.

1. Developed new products for the SA516 Gr 70 grade incorporating extended stress relieving simulation cycles up to 20 Hrs for Gasifier Project in thickness range 12 to 90 mm.

2. Developed new products for the IS2041 R220/ ASME SA516 GR60 grade with HIC Resistant for Thickness range up to 95 mm.

3. Developed new products for the ASME SA 516 GRADE 70 grade with Longer Simulation cycle N1 (2 times) +SR (660 minutes) for Thickness 64 and 88mm.

4. Developed new products for the IS2041 R355/ ASME SA537 CL-1 grade with lower simulation cycle in Thickness range 20 to 56mm.

5. Developed new products for the IS2002 Grade3/ ASME SA515 GR70 grade in thickness range up to 80 mm in Furnace Normalized condition.

6. Developed new products for the ASME SA 516 GRADE 70 grade with Longer Simulation cycle N1+SR (660 minutes) with critical toughness at -46 deg. C for thickness 106 mm.

1. Developed high yield strength steel EN 10025-6 S890QL in thick range 8-50 mm with guaranteed toughness @ -40 ?C.

2. Developed high yield strength steel EN 10025-

6 S960QL for thicknesses 40-80 mm with guaranteed toughness @ -40 ?C.

3. A new grade has been developed for CAT 4187 in thicknesses 15 to 60 mm to improve bending and Hardness properties.

Hot Strip Mill (HSM) commenced production and successfully developed a wide range of grades catering to diverse end-use applications across multiple industry sectors:

Six new grades developed to cater and fulfil the need in different segments

Cost Reduction: Significant drop in rework due to uniform welding and accurate profile cutting.

Productivity Enhancement: High-throughput fabrication enabled for larger built-up sections. Quality Improvement: Superior weld quality and cut precision through CNC-based systems. iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year): Nil