JSW Steel reported its Q1 FY17 results, in which crude steel production up by 14%, flat steel sales up by 3% and long steel by 18% against Q1 FY16.
JSW Steel declared its first quarter of FY17 results yesterday. The company’s saleable flat steel sales increased by 3% Y-o-Y to 2.48 MnT and long steel sales by 19% Y-o-Y to 0.74 MnT.
Similarly, the company also reported crude steel production, which moved up by 14% Y-o-Y to 3.87 MnT.
In current scenario, the company is focusing to ramp up the production at the blast furnaces in Vijaynagar and Dolvi, which had re-commissioned during Mar’16 after modification and capacity expansion. These furnaces had started its commercial production from 1 May’16.
In Q1 FY17, the company’s domestic demand growth was almost flat at 0.4% Y-o-Y. While, it strategically re-focused on export sales due to strong orders during the same duration.
JSW Steel quarterly operational performance (standalone)
|
Particulars |
Quarterly Performance | ||||
| Q1 FY16 | Q1 FY17 | Q4 FY16 | Y-o-Y |
Q-o-Q |
|
| Crude Steel Production | 3.4 | 3.87 | 3.21 | +14% | +21% |
| Flat Steel Sales | 2.4 | 2.48 | 2.44 | +3% | +2% |
| Long Steel Sales | 0.62 | 0.74 | 0.78 | +19% | -5% |
| Semis Steel Sales | 0.08 | 0.12 | 0.07 | +50% | +71% |
| Total Sales | 3.11 | 3.34 | 3.29 | +8% | +2% |
Quantity in MnT
Source: Company Website, SteelMint Research
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