India’s leading steel manufacturer Jindal Steel & Power Limited (JSPL) has reported robust growth in steel production. The Naveen Jindal-led company witnessed year on year growth of 15% in Standalone Steel Production with 6,14,000 tonnes in November 2020 as compared to 533,000 tonnes of Standalone Steel Production a year ago during the same period.
The company’s standalone sales also rose to 562,000 tonnes in November 2020 as compared to standalone sales of 557,000 tonnes in the previous year during the same period.
The export sales contributed to 21% of total sales volumes in November. The company’s exports also grew at a rate of 10% (Y-o-Y) in the last month.
JSPL Managing Director VR Sharma said, “Our performance is in line with the India Growth Story, Domestic Steel demand is rising in H2 FY 21 and so JSPL’s production. With domestic markets recovering the company is focusing more on value-added products. We believe the company’s portfolio will witness further strength in the Q3 & Q4 of the financial year.”
The JSPL had registered a phenomenal 30% (Year-on-Year) growth in consolidated steel sales of 2.41 million tons in Q2FY21 as compared to 1.85 Million tons in Q2 FY 20.
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.