Crude steel production by JSW Ispat Special Products increased by 75pc to 140,000mt in Q1 (Apr-June) FY22 from the prior-year period. From the preceding quarter, however, it fell by 7pc, according to the company’s release.
The baseline figure of steel production for a yearly comparison, however, was low since the Indian government had imposed a nationwide lockdown on March 25, 2020, for 21 days, which was further extended to control the spread of the COVID-19 pandemic. In that period, domestic steel mills had reduced production amid weak demand.
The company, formerly known as Monnet Ispat & Energy Limited, was taken over in September 2018 by Aion investment private limited (AION) and JSW Steel through Corporate Insolvency Resolution Process (CIRP) as per Insolvency and Bankruptcy Code 2016 (IBC).
It has an installed capacity of 1.75mn mt, producing mainly rebars, structure steel, and HR plates. Its integrated units are in Raipur and Raigarh in the state of Chhattisgarh.