The company, along with its partner, is testing the prototype of the new vehicle, and once the product is approved, it will start manufacturing parts of this vehicle at a new plant located near its existing facility near Gurugram.
“We are developing a host of products for the defence sector, but most are at the prototype or testing stage. In a year’s time, this line will become stronger with the company looking to become a major supplier of equipment to the defence sector, and entities that already have large-scale presence in the sector," Rajesh Mohata, chief executive and executive director, JSLL, said in an interview. “India is looking to become atmanirbhar (self-reliant), and our initiative in defence is aimed at providing this."
“We will be submitting the first prototype of a bullet-proof stainless steel armoured vehicle in 42 weeks from now. Production details will be worked out later after defence gives orders post thorough testing," Mohata said.
High-grade steel would not only make the surface of the vehicle bullet-proof, but will also prevent rusting of the body in extreme climatic conditions.
Steel for this product will come from the parent Jindal Stainless Ltd and will be fabricated at JSLL’s facilities.
Though the company is supplying components and fabricated stainless steel to defence sector customers, armoured vehicles would be its first big push in the segment.
The defence ministry has set a revenue target of ₹1.75 trillion from aerospace, defence goods and services by 2024.
A large portion of this will come from the private sector either through alliances with ordnance factories or on their own.
JSLL will also supply stainless steel water tanks for border areas and manufacture bullet-proof stainless steel barricades.
Mohata said that once defence orders are received, the company would set up a new facility with a defence production line near its existing manufacturing facility in Pathredi near Gurugram.
The company is also looking at setting up manufacturing operations in states where such facilities are available under plug-and-play mode. It has already started work on a new manufacturing facility in Chennai that will cater to its railway business of coaches and wagons.
After slowing during the covid period, JSLL’s revenue grew by about 52% in FY22. “Covid disruptions are behind us, and right now, we are in a much better position even compared to our pre-covid levels. We have set a target of 20-22% growth in FY23, and this would be achievable given our strong order book size of ₹500-600 crore," Mohata said, adding that a major chunk of growth this year will come from the real estate segment that is again seeing a rapid revival.
JSL Lifestyle mainly caters to the lifestyle segment with its niche brands Arttd’inox and Arc and has manufacturing capabilities in Pathredi and Rohad in Haryana and Chennai.
