India: Jindal SAW registers 22% y-o-y decline in sales in Q3 FY ’21

Jindal SAW Ltd announced its financial results for Q3 FY ’21. The pipes sales stood at 2, 77,700 t, down 22% y-o-y as compared to 3, 40,500 t pipes in Q3 FY ’20. The company’s order book stands at INR 1,500 cr and the execution of orders has seen delays due to erratic supply of raw material. However, the management foresees a healthy demand outlook due to inching up of oil prices at global level which would drive LSAW pipe segment and government’s focus on infra spending.