JSPL reports 36% growth in Q1 steel production on record output at its Angul plant
Achieves 46% y-o-y growth in Steel Sales
New Delhi : India’s leading steelmaker and part of the OP jindal group, Jindal Steel and Power Limited (JSPL) has recorded 36% rise in cumulative steel production at 1.23 million tonnes in the recently concluded April-June quarter. The company had produced 0.90 million tonnes of Steel in the first quarter of 2017-18 financial year. The record quarterly production is mainly due to highest ever production of Billet and TMT Rebar Production at its Angul plant and highest monthly production at its Raigarh plant in June 2018.
JSPL also recorded a 46% growth in domestic sales during Q1 2018-19 to 1.18 Million Tonnes, up from 0.81 Million Tonne in Q1 of the previous fiscal. The 9 MTPA Pellet Plant at Barbil in Odisha has also recorded its highest ever production during the month of June 2018, bettering all its previous records.
“JSPL is on course to translate its blueprint for enhancing capacity utilizations and efficiencies across all its steel plants. While the ramp up at our 6 MTPA steel plant at Angul is on desired trajectory, the steel plant at Raigarh has set new benchmarks of exceeding excellence”, Mr. NA Ansari, CEO –Steel Business, JSPL said. “We are confident of further accelerating the growth momentum, both in production as well as sales, in the forthcoming quarters to record FY 2018-19 as the best ever year in JSPL’s history”, he added.
The company has also performed better in its overseas ventures also. Jindal Shadeed – JSPL’s subsidiary in Oman, also recorded the best ever quarter in its history, clocking its highest ever crude as well as finished steel production and sales during April –June 2018. On 24th June 2018, Jindal Shadeed’s 1.5 MTPA Bar Mill – the largest in the world, set a new world record of highest single day production of over 5000 Metric Tonnes by any Bar Mill world over.