#Q2 : JSW Group reports 29% growth in crude steel production

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Mumbai : Sajjan Jindal controlled JSW Steel reported 29 percent Year-on-Year growth in group combined crude steel production at 5.07 million tonnes for Q2 FY’22, including the production at jointly controlled entities viz. Bhushan Power & Steel Ltd. (BPSL) and JSW Ispat Special Products Ltd. (JISPL). However, on Quarter on Quarter (QoQ) basis, the group witnessed flat growth.  The capacity utilization at standalone level was at 91% in Q2’22.

JSW Steel standalone also reported flat growth sequentially but reported 6 percent growth (YoY) at 4.10 Million Tonnes (MT) as against 3.85 MT in Q2 of DY 21.

“During Q2’22, Vijayanagar works has taken planned shutdown for campaign repairs of two of its convertors and Salem works has taken annual shutdown of one of its Blast Furnaces, due to which the capacity utilisation remained at an average of 91% in this quarter. JISPL production for Q2’22 was lower mainly due to shutdown of power plant for maintenance and consequent impact on production at Raipur and shutdown of blast furnace for 3 days for maintenance & stabilisation of slab caster at Raigarh” the company said.

The Company recorded crude steel production growth of 21% at 8.20 MT on standalone basis and 45% at 10.14 MT at steel group level. JSW steel Indian operations reported 42 percent growth at 9.85 MT.

 

 

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