Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian steel manufacturer Jindal Steel & Power Limited’s (JSPL’s) output grew by 19pc to 7.51 mn mt in FY2021 (ended March 31, 2021) compared to the previous year.

 

The company’s sales increased by 20pc to 7.28mn mt during the same period, the highest-ever, JSPL indicated in a statement on Apr 5, with exports making up 35pc of the total sales compared to 13pc in the previous fiscal.

 

 

Q4 and March output and sales

In Q4 FY2021, JSPL’s output touched 2.07mn mt, up from 1.57mn mt in the same quarter last year and breaching the 2mn mt mark in one quarter for the first time, the company indicated. The steelmaker’s sales during the quarter increased to 1.91mn mt from 1.39 mn mt in Q4 FY2020 with the share of exports in total sales rising to 27pc from 15pc during this period.

 

The steelmaker reported a 21pc increase in its March 2021 output at 730,000mt compared to the prior year. It also reported the highest-ever monthly sales at 786,000mt last month, a spike of 61pc compared to March 2020.

 

JSPL has reported a consistent increase in its monthly production and sales numbers, attributing them to a combination of domestic and international demand and its extensive product range. The company has set its sights on achieving INR150bn ($2.05) towards its EBITDA and Net Debt, while its gross turnover target is Rs500bn according to V.R. Sharma, managing director.

 

($1=INR73.24)

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