JSW Steel Jan production up 17%

The company, headed by Sajjan Jindal produced 11.09 lakh tonnes crude oil

JSW Steel today reported 17 per cent growth in crude steel production at 11.09 lakh tonne (LT) for the month of January. The company, headed by Sajjan Jindal, had produced 9.51 LT of crude steel in the same month last year.

The numbers include steel production from Dolvi facility of erstwhile JSW Ispat Steel, which has now been merged into JSW. Its production of flat steel was up 42 per cent at 8.35 LT, while production of long steel rose by 15 per cent to 1.68 LT, JSW Steel said in a statement.

During the 10 month period of the current fiscal, the company has achieved crude steel production of about 10.13 million tonnes (MT), registering a growth of 8.20 per cent over the corresponding period of last year.

Yesterday, the company had announced to raise its product prices in the range of Rs 500-750 per tonne for March. Flat steel is largely used by automobile and consumer durables sectors, while long steel is used in the construction and infrastructure sectors.

In 2012-13, JSW had produced 8.52 million tonnes of crude steel despite continuation of the iron ore crisis in Karnataka. The JSW scrip closed at Rs 857.05 on the BSE, down 0.03 per cent from the previous close. JSW Steel stock price On February 26, 2014, JSW Steel closed at Rs 857.05, down Rs 0.25, or 0.03 per cent.

The 52-week high of the share was Rs 1,046.75 and the 52-week low was Rs 451.50. The company's trailing 12-month (TTM) EPS was at Rs 45.75 per share as per the quarter-ended December 2013.

The stock's price-to-earnings (P/E) ratio was 18.73. The latest book value of the company is Rs 811.51 per share. At current value, the price-to-book value of the company is 1.06.