What it does: A multinational conglomerate and investor that controls several assets in sectors such as services, infrastructure, energy, and metals & mining.
Best known for: Essar is a pioneer in several sectors. In India, it was the first private sector company to purchase an oil tanker, the first to set up the world's largest sponge iron plant, and the first to become an independent power producer after the Indian economy's liberalisation. Essar Steel in India, one of Essar Group's areas of business, was the first company to develop an entire range of defence-grade steel, has the largest service centre facility, and the first company to have iron-making facilities with three technologies: Blast Furnace, Corex, and DRI.
Staff stats: More than 50,000 with headquarters in Mumbai, India.
The good bits: In online reviews, much has been said about Essar's great work-life balance, good training programs, flexible work schedules, and generous salary and benefits.
The not-so-good bits: Long hours and workplace politics.
Hiring grads with top marks in: Business-related courses such as economics, business administration, finance, and accounting or Bachelor of Science courses in civil engineering, human resources, architecture, marketing, hospitality, or psychology, among others.
Essar Group started out as a construction company that began its operations with the development of Chennai port's outer breakwater. The group was named after its Chairman and Vice-Chairman, Shashi and Ravi, whose names begin with 's' and 'r' (sounds like ‘Essar’). Incorporated in June 1976 and named Essar Construction Limited, the group was active in core sector activities that included pipeline laying, marine construction, dredging, as well as other port-related activities. The group further expanded its business into other core sectors such as drilling offshore and onshore oil and gas wells for Indian Public Sector oil exploration companies.
Essar entered the steel-making business in the 1990s with its construction of a pellet plant in Visakhapatnam and its Hazira plant in Gujarat. In the same decade, the business expanded its scope into other fields with an oil refinery, GSM telephony, construction, and gas exploration.
With a business strategy of focusing mainly on the steel and iron sector, the group separated its unrelated businesses to several different companies. In 1992, Essar Oil Limited was entrusted with its offshore and energy operations, while Essar Projects Limited was entrusted its civil and mechanical construction business in March 1993.
Essar Global Fund Limited (EGFL) is Essar Group's global investor that controls several assets diversified across multiple core sectors. Among the group’s portfolio are:
Essar Oil & Gas Exploration & Production Ltd., which operates the highest producing Coal Bed Methane block in Raniganj, West Bengal and four other CBM blocks
Essar Oil UK that owns and operates the 9 million tonnes Stanlow Refinery in Ellesmere Port, UK
Essar Power Ltd., one of India's largest private sector power producer
Essar Steel, a fully integrated flat carbon steel manufacturer
Essar Shipping, an integrated supply chain service provider with investments in contract drilling and sea transportation services.
Essar Ports, which operates and develops ports and terminals for handling breakbulk, dry bulk, and general cargo.
Essar Projects, which executes mega projects in sectors such as power plants, minerals and metals, offshore, pipelines, tankages & terminals, and hydrocarbons.
Today, Essar Group's portfolio companies have aggregate revenues of around $14B.
The recruitment process varies from role to role, but the standard hiring procedure consists of several rounds: a written exam (eg maths, logic, English, etc), a group discussion with a hiring panel, and several personal and technical interviews with an HR representative. The process may take anywhere between two days to two weeks.
Essar Group offers a highly competitive base salary with fringe benefits which may include, performance bonuses, health insurance, annual raises, mobile phone reimbursements, travel incentives, and free meals, among others.
Expect a positive work culture, supportive management, and learning-focused environment. The Essar Group claims to promote an environment of coaching and mentoring while offering developmental opportunities that align with personal aspirations. This is done through the implementation of SAP-SuccessFactors, developmental programs, and an Internal Talent Mobility program that offers employees career opportunities within their various businesses across geographies.
Essar Foundation serves as Essar Group's corporate social responsibility arm. The foundation aims to benefit communities that are near its area of operations by collaborating with key stakeholders such as institutions and local administrations. Essar Foundation focuses on education, healthcare, livelihood, women's empowerment, sports development, and the environment. All efforts are in line with the UN Sustainable Development Goals and the provisions of the Companies Act, 2013.
Essar Group has improved the lives of over 500,000 people in 500 villages across 13 districts of eight Indian states.
For freshers looking for a new career, Essar Group’s main draws are plenty. For graduates who put a premium on learning, the company’s environment of coaching and mentoring will be one of its strongest assets. If you’re in it for the prestige or remuneration, you’ll likely have reasons to stay. With all pros aside, you’ll find that Essar demands real, hard work from its employees, with reviewers mentioning that long hours, endurance and dedication are valuable qualities.