Jindal Steel & Power (JSPL) has continued to report strong production so far in FY22. Steel production increased by 31% y-o-y to 13.71 lakh tonnes in April-May 21 (April 6.81 lakh tonnes and May 6.90 lakh tonnes) as compared to 10.44 lakh tonnes in the same period last year. As the country grapples with the second wave of COVID-19, The company’s firm belief in putting human lives ahead of economic gains has resulted in diversion of txygen towards life saving measures, impacting production. JSPL has supplied close to 3500 tonnes of Liquid Medical Oxygen (LMO) till date. With COVID-19 situation improving, it remains confident of achieving FY22 production target of 8.0-8.5mt.
Steel sales also increased by 7% Y-o-Y to 10.58 lakh tonnes (April 5.59 lakh tonnes and May 4.99 lakh tonnes). However, slowdown in domestic construction activities due to COVID-19 and logistical challenges faced owing to congestion at ports due to adverse weather conditions resulted in sales growth lagging production growth. JSPL continues to take measures to offset the impact of slowdown in domestic demand by exporting in lucrative global markets. Exports accounted for 21% of sales volumes in April, with the share rising further to 36% in May.
JSPL is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement.
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
| View more.. | |
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