MUMBAI (India CSR): JSW Steel Limited has published its Integrated Report for 2023-24, showcasing significant improvements in safety performance across all its integrated steel plants. Despite the advancements, the company reported two fatalities among workers, a notable decrease from the six fatalities recorded in the previous financial year.
JSW Steel Limited is one of India’s leading integrated and geographically diverse steel manufacturers. The company aims to partner in India’s growth story by supplying steel for vital infrastructure projects and providing value-added steel solutions through innovation. Additionally, JSW Steel is committed to sustainability and improving the well-being of the broader community.
Key Statistics
- Domestic Crude Steel Capacity: 28.2 MTPA
- Expected Domestic Capacity by FY 2030-31: 50 MTPA
- Domestic Downstream Steel Capacity: ~13.5 MTPA
- International Presence (Crude Steel Capacity): 1.5 MNTPA
- Branded Stores Added: 364
- Export Footprint: 100+ countries
- Captive Iron Ore Mines: 24
- Direct Employees: 25,550
- Captive Coking Coal Mines: 03
Commitment to Safety
JSW Steel emphasizes that safety is a core value integral to every task, decision, and interaction within the company. Their goal is to ensure that every individual returns safely to their loved ones daily. The company strives to foster a culture of safety by continually enhancing its safety management systems through effective leadership, robust systems, and a competent workforce.
Safety Performance Metrics
The report highlights key safety metrics for the financial year:
- Fatalities: 2 (66% year-on-year decrease)
- Lost Time Injuries (LTIs): 16 (56% year-on-year decrease)
By 2030, JSW Steel aims to be recognized as one of the world’s safest organizations, achieving the highest standards of safety to enhance productivity to its fullest potential.
Leading Safety Indicators
- Safety Observations: 520,000+
- Planned Safety Inspections and Audits: 111,000+
- E-learning Modules on Safety Completed: 15,000
- Corrective and Preventive Actions Implemented: 93%
- Contractors Assessed for CARES (Contractor Assessment and Rating for Excellence in Safety): 4,400
The company’s Lost Time Injury Frequency Rate (LTIFR) for 2023-24 stands at 0.095, showcasing a substantial improvement from previous years.
Safety Initiatives and Achievements
JSW Steel has implemented several key safety initiatives, contributing to the significant improvement in safety metrics. These include:
- Cluster of Excellence – Safety Programme
- Employee Engagement Programmes
- Skill Assessments for New Contract Workers
- Hands-on Safety Training via Safety Experience Centres and MySetu Sessions
- Process Safety Management (PSM) Initiatives
- Digitization of Critical Safety Processes
- Robust Contractor Safety Management under the CARES Programme
- Structured Safety Leadership Development Programmes for Senior Leaders
The introduction of the Corrective and Preventive Actions (CAPA) module on the MySetu platform has been a significant step towards streamlining the horizontal deployment of lessons learned from past incidents. This initiative aims to enhance safety practices and prevent the recurrence of incidents across JSW Steel sites.
Safety Performance Metrics
This table provides a detailed comparison of JSW Steel’s safety performance metrics for employees and workers over the last two financial years.
| Safety Metric | Employees | Workers | Total |
|---|---|---|---|
| Lost Time Injury Frequency Rate (LTIFR) | |||
| FY 2023-24 | 0.11 | 0.09 | 0.095 |
| FY 2022-23 | 0.33 | 0.19 | 0.26 |
| Total Recordable Work-related Injuries | |||
| FY 2023-24 | 8 | 75 | 83 |
| FY 2022-23 | 25 | 104 | 129 |
| Number of Fatalities | |||
| FY 2023-24 | 0 | 2 | 2 |
| FY 2022-23 | 0 | 6 | 6 |
| High Consequence Work-related Injuries or Ill-health | |||
| FY 2023-24 | 3 | 13 | 16 |
| FY 2022-23 | 0 | 44 | 44 |
Vision 2030 – Zero Harm
JSW Steel has articulated a comprehensive safety vision, ‘Vision 2030 – Zero Harm,’ setting ambitious targets for achieving zero fatalities, zero lost time injuries, and zero harm over the next several years. By 2030, JSW Steel strives to be recognized as the world’s safest organization, where the implementation of the highest standards of safety leads to the greatest levels of productivity.
Looking Ahead
Safety will continue to remain an area of highest importance for JSW Steel. The company is committed to the goal of zero harm and will relentlessly work towards establishing industry-leading safety standards and practices.
The company’s dedication to safety and continuous improvement demonstrates its commitment to the well-being of its employees, contractor workers, associates, partners, and visitors, ensuring a safer and more productive work environment for all.
Key Facts: Safety 2023-24
These key facts highlight the significant improvements in JSW Steel’s safety performance over the past year.
| Metric | FY 2023-24 | FY 2022-23 | Change |
|---|---|---|---|
| Fatalities | 2 | 6 | -66% |
| Lost Time Injuries (LTIs) | 16 | 25 | -36% |
| Lost Time Injury Frequency Rate (LTIFR) | 0.095 | 0.32 | -70% |
| Safety Observations | 520,000+ | – | – |
| Planned Safety Inspections and Audits | 111,000+ | – | – |
| E-learning Modules on Safety Completed | 15,000 | – | – |
| Corrective and Preventive Actions Implemented | 93% | – | – |
| Contractors Assessed for CARES | 4,400 | – | – |
| Total Recordable Work-related Injuries | 83 | 129 | -36% |
| High Consequence Work-related Injuries or Ill-health | 16 | 44 | -64% |
(India CSR)
