Key Highlights:
- Steel Sales increased to 2.13 million tonnes in Q2FY22, up 32% Q-o-Q
- Production stood at 1.93 million tonnes in Q2FY22, up 5% (Y-o-Y)
- H1 Sales: 3.74 million tonnes | Production: 3.94 million tons
05 October 2021, New Delhi: Notwithstanding sluggish domestic demand due to the ongoing monsoon in the country, JSPL reported robust growth in sales and production in Q2FY22. JSPL's steel sales volume surged 32% Q-o-Q and 10% Y-o-Y to hit a record of 2.13 million tonnes during the quarter. In Q2FY22, JSPL steel sales breached 2 million tons for the quarter for the first time. Exports continued to boost sales, with their share rising to greater than 40% in Q2FY22 (from 34% in Q1FY22 and 38% in Q2FY21).
Steel production also increased to 1.93 million tonnes in Q2FY22, posting a modest growth of 5% Y-o-Y. Inventory levels continued to decline as sales volume surpassed production for the third consecutive month in September 21.
Quote from Mr V R Sharma, Managing Director, JSPL:
He said JSPL's strength lies in its dedicated team, which is defying all odds and continuing to march on the growth path. He noted that JSPL now has better raw materials security, which will add significant value to the company — one of its Australian coking coal mines is operational, with the first shipment expected in November 21, which will significantly reduce coking coal dependency. He added that JSPL has been shortlisted as preferred bidder for the Kasia (Odisha) iron ore mine by the Government of Odisha, which will further enhance raw material security, and that the company is fully committed and believes in India's growth story.
About JSPL:
JSPL is a leading Indian Infrastructure Conglomerate with a presence in the Steel, Power, and Mining sectors. With an investment of approximately 12 billion USD (₹90,000 Crore) across the globe, the Company is continuously scaling its capacity utilization and efficiencies to contribute towards building a self-reliant India.
Disclaimer: The figures mentioned in this release are provisional.
For further information, please contact Corporate Communication:
Kuldeep Singh, +91 9899692981; kuldeep.singh@jindalsteel.com
Ram Krishna Prayag, +91 7428209898; ram.prayag@jindalsteel.com
Sudeep Purkayastha, +91 9899441119; Sudeep.Purkayastha@jindalsteel.com