Jindal Saw announced that since it is not currently exporting large diameter pipes to US, the levy of Anti Dumping Duty by US Department of Commerce on import of large diameter welded pipes from India would not have any direct impact on the company's business.

On 21 August 2018, US Department of Commerce has imposed Anti Dumping Duty on imports of Large Diameter Welded Pipes from Canada, China, Greece, Korea, Turkey and India. The Anti Dumping Duty in respect of import of Large Diameter Welded Pipes from India has been fixed at 50.55%.

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Net profit of Jindal Saw rose 48.99% to Rs 95.41 crore in the quarter ended June 2018 as against Rs 64.04 crore during the previous quarter ended June 2017. Sales rose 63.51% to Rs 2284.31 crore in the quarter ended June 2018 as against Rs 1397.06 crore during the previous quarter ended June 2017.

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Jindal Saw announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2018.

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Jindal Saw announced that on 17 January 2018 Department of Commerce, International Trade Administration, United States of America received a countervailing duty (CVD) petition concerning imports from welded pipe from India, China, Turkey, Greece, Korea & Canada filed on behalf of US manufacturers.

The US Commerce Department has come out with a notification dated 20 June, 2018 whereby they have levied a preliminary countervailing duty of 541.15% on exports of welded pipes in the diameter size range of 16' and above with from India.

Effect of above on the Company:
The Company has supplied only 800 MT (approx) of X-80 grade large diameter welded pipes during the period of investigation which was from 1 January 2017 to 31 December 2017.

The Company is currently not exporting any large diameter pipes to US and hence the CVD imposed would not have any direct impact on the Company's business.

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