Sales volumes of India’s top steelmakers in FY’25

All five steel producers were able to lift sales volumes y-o-y, though the rise was modest, ranging within 2.4-5.2%. Domestic sales were a key driver of the rise in volumes, but export performance was largely poor, given a lacklustre global market. JSW Steel’s consolidated India operations registered a 15% y-o-y climb in domestic sales in FY’25, while exports plunged 39% y-o-y. Conversely, Tata Steel, which saw the highest percentage growth among the Tier 1 mills, was able to lift its exports by 20% to 1.2 mnt in FY’25. At SAIL, volumes edged up by 4.7%, aligned with the increase in domestic consumption. JSP’s domestic sales increased by 7% y-o-y, while exports plummeted 29% in FY’25, with the latter’s share in total sales volumes slipping to 6% from 9% in the previous fiscal. Meanwhile, AM/NS India recorded sales growth of 4.9% to 7.8 mnt.