JSW Steel Gains Over 1% On 13% YoY Growth In Consolidated Crude Steel Production

JSW Steel reported a 13% year-on-year (YoY) growth in consolidated crude Steel production for the second quarter of FY 24 at 6.41 Million tonnes. The company today informed that quarter-on-quarter (QoQ) production was marginally lower by 3%, mainly due to scheduled shutdowns undertaken at Indian operations and lower capacity utilization at USA-Ohio due to market conditions.

JSW Steel shares were up 1.47% at Rs 768.25 per share at 1:46 pm IST on Tuesday. At this price, the company has a market cap of 1,87,872.00 crore. The stock has a 52 Wk High and 52 Wk low of Rs 840.00 and Rs 616 respectively.

The break-up of production as shared by the company shows that the consolidated production for Q2 FY24 stood at 6.41 Mnt compared to 5.68 Mnt in Q2 FY23. The firm's Q1 FY24 consolidated production was 6.61 Mnt.
Meanwhile, the company's consolidated production for H1 FY24 at 12.76 Mnt is 12% higher (YoY) against 11.43% in H1 FY23.

JSW Steel is the flagship business of the diversified, US$23 billion JSW Group. Over the last three decades, JSW Steel has grown from a single manufacturing unit to become India's leading integrated steel company with a capacity of 29.7 MTPA in India and the USA. Its next phase of growth in India will take its total capacity to 38.5 MTPA by FY25. The Company's manufacturing unit in Vijayanagar, Karnataka is the largest single-location steel-producing facility in India with a current capacity of 12.5 MTPA.

Sajjan Jindal is the Chairman and Managing Director at JSW Steel Ltd.