Jindal Steel & Power reports robust steel sales in Q2

Jindal Steel & Power (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 have first time breached 2 million tons for the quarter. Exports continue to boost sales with share of exports 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 continue to decline as sales volume surpassedproduction for the third consecutive month in September 21.

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