Jindal Steel & Power records strong operational performance in March

Jindal Steel & Power (JSP) ended FY22 on a high with the Company reporting record sales in March of 0.79mt. Strong sales were driven by record production of 0.77mt (+5% Y-o-Y). The strong operational performance resulted in the Company reporting the highest ever production for the quarter of 2.11mt (+2% Y-o-Y).

Despite facing several challenges throughout FY22, JSP managed to meet its production guidance; breaching the 8 million tonne mark for the first time. For the fifth consecutive year, JSP has posted spectacular growth in annual Steel sales on a year on year basis. In FY22 as well a new annual record has been established with 7.63 mt of Steel sales (5.03% Y-o-Y). Exports accounted for 33% of sales in March; in line with the FY22 share.

Key Highlights:

Steel production and sales hit a record of 8.01mt and 7.63mt respectively in FY22.
Q4 sales increased by 8% Y-o-Y to 2.07mt; production up 2% Y-o-Y to 2.11mt.
Steel sales marked a new record of 0.79mt in March 22.
Exports accounted for 33% of sales in March 22 as well as in FY22.