Jindal Steel and Power Ltd Posts Highest Ever Production, Sales in Financial Year 2021

New Delhi, April 5: Jindal Steel and Power Ltd (JSPL) has ended the fiscal year on a strong note with sales hitting a new record of 786,000 tonnes in March 2021, a yoy growth of 61 per cent. A combination of robust domestic demand, attractive export markets (accounting for 38 per cent of sales) and a wide range of products have all contributed to JSPL reporting the steepest rise in monthly sales in FY21, a company statement said.

With March 2021 production also rising by 21 per cent yoy to 730,000 tonnes, 4QFY21 production has now 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 (up 19 per cent yoy) and 7.28mt (up 20 per cent yoy) respectively. Exports accounted for 35 per cent of sales in FY21 compared to 13 per cent in the prior year. India's Crude Steel Output Declines 65 Per Cent to 3.13 Million Tonnes in April 2020, Says World Steel Association.

"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 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," JSPL Managing Director V.R. Sharma said.

(The above story first appeared on LatestLY on Apr 05, 2021 11:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).