Jindal Steel & Power Limited (JSPL), India’s leading Steel producer, has continued to scale new heights with its consistent performance in Indian and global markets despite the challenges due to the COVID-19 pandemic. The Naveen Jindal-steel giant has reported a rise of 29% in standalone steel sales in July 2020 to 6,37,000 tonnes as compared to standalone sales of 4,93,000 tonnes in the previous year during the same period.
JSPL’s export sales contributed to 39% of the total standalone sales in July 2020 to 2,50,000 tonnes. The company’s consolidated steel sales also rose by 25% (y-o-y) to 7,62,000 tonnes during July 2020 as compared to sales of 6,11,000 tonnes during the same period last year.
Standalone steel production experienced a substantial jump of 13% (y-o-y) to 6,03,000 tonnes in July 2020. The consolidated steel production increased by 13% (y-o-y) to 7,40,000 tonnes during this period.
The JSIS Oman has recorded 11% (y-o-y) increase in production to 1,37,000 tonnes while JSIS Oman sales volumes rise by 6% (y-o-y) to 1,25,00 tonnes respectively.
Attributing the company’s performance to its employees JSPL Managing Director VR Sharma said, “As stated by Hon’ble PM, new opportunities always emerge during challenging times. JSPL followed the same path and successfully overcame the challenges. We are proud of our dedicated workforce, who not only demonstrated stellar performance but also continued to serve our communities and our country.”
He added, “India Inc is getting back to normalcy, as companies can mend supply chains, getting more workers back on the job, resulting in the increased domestic steel demand. Thanks to the Government’s efforts to reboot the economy by announcing the stimulus package.”
Marching towards achieving the dream of Aatm Nirbhar Bharat by import substitution, in addition to the first-ever domestic order of Head Hardened Rails of 3000 tonnes from RVNL (Kolkata Metro), JSPL has bagged orders from Pune Metro (3000 tonnes) and Konkan Railway (1960 tonnes).
The JSPL is an industrial powerhouse with a dominant presence in steel, power, mining, and infrastructure sectors. With an investment of 12 billion USD across the globe, the Company is continuously scaling its capacity utilization and efficiencies to capture opportunities for Building a self-reliant India.