JSPL posts highest ever production & sales in FY 21

Jindal Steel and Power Limited (JSPL) has ended the fiscal year on a strong note with sales hitting a new record of 786,000 tonnes in Mar'21 (up 61% y-o-y). Combination of robust domestic demand, attractive export markets (accounting for 38% of sales) and wide range of products have all contributed to JSPL reporting the steepest rise in monthly sales in FY21. With Mar'21 production also rising by 21% y-o-y to 730,000 tonnes, 4QFY21 production has comfortably crossed the 2 million tonnes mark for the first time ever (2.07 mt).

The company's operations have displayed resilience in the face of the pandemic, posting the highest ever production and sales in FY21 of 7.51mt (+19% y-o-y) and 7.28mt (+20% y-o-y) respectively. Exports accounted for 35% of sales in FY21 compared to 13% in the prior year.

"We are proud of our team for producing 7.51 million tons of steel in this financial year marred by the global pandemic. This remarkable growth during the most challenging time period has been possible due to our firm belief in the India growth story, our focus on creating opportunities in adversity and the dedication of each & every member of the JSPL family. We firmly remain committed towards contributing to an Aatmanirbhar Bharat. We will continue to work towards our target of 15:15:50, i.e., 15,000 Cr EBITDA: 15,000 Cr Net Debt: 50,000 Cr Gross Turnover," said. Mr. V R Sharma, Managing Director, JSPL.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.382.6 as compared to the previous close of Rs. 370.55. The total number of shares traded during the day was 505795 in over 6893 trades.

The stock hit an intraday high of Rs. 386 and intraday low of 359.5. The net turnover during the day was Rs. 188288528.

Source : Equity Bulls

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