Naveen Jindal-led JSPL beats Covid-19 pandemic blues to record growth of 109% in export sales

0

Naveen Jindal-led Jindal Steel & Power Limited (JSPL) has recorded its highest ever export
of steel and related products during April 2020, a period adversely affected by the global COVID-19 pandemic and nationwide lockdown in India. The company exported 2,48,000 metric tonnes (MT) of steel and related products, clocking a phenomenal growth of 109% (month-on-month). The export also contributed to 74% of its total sales volume.

export sales

India has been under a nationwide lockdown due to the COVID-19 outbreak starting from 25 March. The 40-day lockdown was recently extended by another two weeks. The coronavirus pandemic began to significantly impact the economic activity in India from the third week of March when Prime Minister Narendra Modi announced the first stage of the nationwide lockdown.

Beating all odds, the JSPL India reported 5% growth (year-on-year) in the production of steel and granulated pig iron to 5,50,000 MT during April 2020. The steel giant also recorded 6,55,000 MT of consolidated steel production in April 2020.

According to the JSPL, all its plant operations strictly adhered to the MHA guidelines and shop floor operations resorted to staggered working to ensure proper physical distancing.

India’s largest Blast Furnace at JSPL-Angul recorded the highest ever production of
2,98,000 MT of hot metal during April 2020. Blast furnace maintained an average production of ~10,000 MT+ on a working day basis.

JSPL Managing Director VR Sharma attributed the achievement to the company’s agile and decisive workforce. He said, “The JSPL, has effectively and appropriately addressed the domestic demand situation and formulated Business Continuity Strategy and subsequently secure full export order book to ensure continuous operation of its plant.

“With the continuous support of Indian Railways and various ports in the eastern part of the
country (viz Gangavaram, Vizag, Paradip, etc), JSPL continues with steel production to support the Indian economy by earning precious foreign currency by exporting our products.”

Sharma continued, “Our team continuously looks forward to opportunities, this is why even during the COVID crisis, the JSPL is exporting steel to China, Malaysia, Germany, Spain, Italy, Denmark, France, Saudi Arabia, Oman, Qatar, and UAE. We are also catering to the prestigious export order of Rail booms from France to manufacture Rails in France for high-speed railways.”

The latest achievement by the JSPL comes just days after the company bagged a contract to supply 12,000 tonnes of special grade rail blooms to France Rail Hayange.

The JSPL reported standalone sales of 3,35,000 MT, the balance production is under shipment and stocked at the port waiting for vessels, which will be accounted in the month of May 2020. The JSPL recorded consolidated sales of 4,56,000 MT during April 2020.

The JSPL’s Oman Steel plant reported 1,06,000 MT of steel production while steel sales stood at 1,20,000 MT in April 2020. The JSPL has also developed R 260 Grade of rails for Indian Railways. These rails have carriage capacities of 75 ton per wagon, as compared to 64 ton per wagon for ordinary rails. The JSPL has also developed a sour grade application plate and round billets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here