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Construction steel bar manufacturer Kamdhenu on Tuesday posted an 18 per cent year-on-year rise in net profit to Rs 18.7 crore in September quarter, mainly on account of reduced expenses. It had clocked a net profit of Rs 15.9 crore in July-September period of FY25, the TMT (Thermo-Mechanical Treatment) bar player said in an exchange filing. During the reporting quarter, the company also saw its revenues growing to Rs 191.14 crore from Rs 190 in the second quarter a year ago. Kamdhenu trimmed expenses to Rs 169.15 crore from 175.24 crore in the year ago quarter. In a separate statement, the company's CMD Satish Kumar Agarwal said, "During the quarter, some of our key operating regions witnessed abnormal weather conditions and extended periods of rainfall. This temporarily impacted volumes and revenue growth. However, this is a one-off seasonal effect, and we expect momentum to normalize as conditions improve." Despite these near-term factors, the overall demand environment remains
Steel major Tata Steel on Thursday said its crude steel production in India rose by seven per cent to 5.67 million tonnes in the second quarter of the current fiscal, primarily aided by normalisation of operations post the completion of relining of a blast furnace at Jamshedpur, in Jharkhand. In a regulatory filing, the company said that in 2QFY26, Tata Steel India's crude steel production was 5.67 million tonnes. Production was up eight per cent on a quarter-on-quarter basis and seven per cent on a year-on-year basis. Tata Steel India sales during the second quarter of this financial year rose to 5.56 MT, over 5.11 MT in the year-ago period, the filing said. "Tata Steel India's deliveries for the quarter stood at 5.56 million tonnes. Domestic deliveries grew... aided by improved production and stable demand across market segments despite the seasonal rains," the filing said. The company said that it continues to strengthen its product portfolio through new facilities and customer
Jindal India on Tuesday said it has commissioned a new downstream steel facility in West Bengal, with a capacity of 0.6 million tonnes and set up at a cost of Rs 1,500 crore. The capacity expansion will increase the company's existing annual capacity of 1 million tonnes by 60 per cent, the company said in a statement. Jindal (India) said it has announced the commissioning of Rs 1,500 crore new downstream steel capacity and expects a significant increase in its sales revenue in the coming years from this investment. Post the expansion, the company's capacity for coated flat products is set to increase by 60 per cent from the current capacity, 40 per cent for pipe products, and 75 per cent in the crash barrier segment. Jindal India is a part of the USD 2.5 billion BC Jindal Group, which is into energy, steel and packaging films.
JSW Steel on Thursday announced incorporating a wholly-owned arm JSW Green Steel Ltd for the manufacture of hot-rolled and cold-rolled steel products. The arm was incorporated on February 27 in Mumbai and is yet to commence its business operations, JSW Steel informed the exchanges. JSW Green Steel Ltd has now become its wholly-owned subsidiary, the company said. "The new entity has been incorporated for manufacturing of hot-rolled and cold-rolled products of steel, which is in line with the main line of business of the company," JSW Steel said. Hot-rolled steel finds applications in sectors like automobile, agriculture etc, while cold-rolled steel is used by industries manufacturing, construction and home appliances, among others.
Union Minister Faggan Singh Kulaste on Thursday directed the domestic seel industry to increase use of scrap in their production, underscoring that carbon emission is a serious concern. India uses 30 million tonne (MT) scrap annually to manufacture steel, out of which 26 MT is generated domestically and remaining through imports. Currently, India's overall steel production stands at around 120 MT. "Carbon emissions are a concern.... the steel sector must increase use of scrap in their steel production," he said at CII Steel Summit 2022 here. The industry must also adopt new-age technologies to lower their carbon emissions, the Minister of State for Steel said. However, he did not speak on the quantum of scrap which steel makers must include in their production. According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, whereas in India, it contributes 12 per cent to the total CO
The removal of export duty on steel products will help the domestic metal producers pull up their profits with now having the freedom to explore overseas markets as well, experts said. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months after imposition of the levy on May 21. The relief comes on the back of domestic steel prices correcting by 15-20 per cent since these duties were imposed, Jayanta Roy, Senior Vice President & Group Head, Icra Limited, said. "We believe that the latest measure will help pull up the industry's profits from the second quarter lows as companies now get the freedom to explore overseas markets, depending on the pricing environment," the expert said. SteelMint India also termed the government's decision of withdrawing export duty on steel and raw material as a positive move for the industry. However, according to the research firm, the move may not help the industry in the short ..