Naveen Jindal-led JSPL beats COVID-19 blues again, registers impressive 12% rise in Q1 Steel Sales

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Naveen Jindal-led Jindal Steel & Power Limited (JSPL) has once again defied the trend by registering impressive growth in its Standalone Steel Production and Sales during Q1 FY’21 despite the period being severely affected by COVID-19 pandemic and a prolonged period of nationwide lockdown. The company recorded a 12% growth (Q-o-Q) in sales volumes and an 8% rise (Q-o-Q) in standalone steel (incl. pig iron) production during Q1 FY’21.

Jindal Steel & Power Limited

The company’s export sales contributed to 58% of total sales volumes in Q1 FY’21, while its consolidated sales rose by 7% (Q-o-Q) during Q1 FY’21.

JSPL Managing Director VR Sharma said, “In last 100 days JSPL exported more than one million tons, this was possible with the consistent support of Indian Railways, port authorities and a slew of pro-industry measures taken by Ministry of Steel to reboot the economy.”

Sharma added, “We believe in Indian growth story and continue to work to fulfill the dream of making India “Aatmanirbhar” by import substitution of value-added steel products catering to requirements of Indian Railways, Defense, Shipbuilding, Oil & Gas and others.”

The latest growth has come weeks after the JSPL recorded its highest ever export
of steel and related products during April 2020 despite the month adversely impacted by the global COVID-19 pandemic.

About JSPL

JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and
infrastructure sectors.

Having 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.

 

 

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