Jindal Steel & Power Limited (JSPL), a major private steel producer, has posted impressive growth numbers in production and sales in FY ’21.
Major highlights are given below-
1.Crude steel production hits a record high in FY ’21-The manufacturer has churned out a record-high 7.51 mn t of crude steel in FY ’21. This is up by 19% as against 6.30 mn t in FY ’20.
Furthermore, on a quarterly basis, the same has increased by 7% to the best-ever 2.07 mn t in Q4 FY ’21 compared against the previous high of 1.93 mn t in the preceding quarter.
The company has efficiently recovered from the pandemic and has optimally utilized the production capacity as stringent lockdown norms began easing since mid-Jul ’20.
2. Steel sales sets record high in FY ’21- JSPL’s sales volume rose to its peak at 7.28 mn t in FY ’21, up 20% y-o-y compared with the previous high of 6.06 mn t in FY ’20.
On a quarterly basis, the sales volumes increased by 2% to 1.91 mn t in Q4 FY ’21 compared with 1.88 mn t in Q3 of the same fiscal.
Export opportunities during the peak COVID time (Apr-Jul) and throughout the financial year led to increased sales volumes. Alongside this, gradual recovery in demand from white goods, infra and-construction sectors and increased deliveries to railway projects during the H2 FY ’21 have resulted in higher sales figures.
3. Export volumes increases in FY ’21- The company made full use of the export opportunities that opened up during the pandemic. The company’s exports were reported at 35% of sales as against 13% in FY ’20. While on a quarterly basis, the same was 27% of total sales in Q4 FY ’21 as against 21% in Q3.
Mr. V R Sharma, Managing Director, JSPL stated in a press release, “We will continue to work towards our target of 15:15:50, i.e., 15,000 Cr EBITDA: 15,000 Cr Net Debt: 50,000 Cr Gross Turnover”.
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