Indian steelmaker Jindal Steel and Power Limited (JSPL) states it achieved the highest ever production and sales in December 2020.
The company, with an investment of around $12bn (Rs900bn) produced 727,000mt steel through all its units across the world.
The highest share of 57pc or 416,000mt was produced at JSPL’s integrated steel plant in Angul, followed by 4.27pc or 311,000mt at its Raigarh steel plant. Both these plants recorded their highest ever productions in December.
In Q3FY21, (Sept-Dec) JSPL’s standalone steel production was 1.93mn mt, up by 19.8pc from 1.61mn mt in the prior-year quarter.
| Volumes (mn mt) | Dec’20 | Nov’20 | Pc Change M-o-M | Dec’19 | Pc Change Y-o-Y |
| Production | 0.727 | 0.614 | 18% | 0.559 | 30% |
| Sales | 0.711 | 0.565 | 26% | 0.567 | 25% |
V R Sharma, the company’s managing director credits JSPL’s workforce for the feat stating the production levels were achieved without any CAPEX by optimizing operating parameters.
Sales
The company achieved its highest-ever monthly sales of 711,000mt in the month. In Q3 FY2021, standalone steel sales rose by 12pc to 1.88mn mt from 1.67mn mt in the prior-year quarter.
Exports
JSPL’s steel products’ exports increased by 18pc from the prior year to 387,000mt in Q3FY21, contributing to 21pc of the total sales volumes.
JSPL has also acquired a block of Gare Palma coal mine in Chhattisgarh. In a statement, the coal ministry has declared Jindal Power as the successful bidder for Gare Palma IV/1 Mine.
($1=Rs73)