JSW Steel Ltd Share Price – NSE  /  BSE

Steel, Mid Cap

Sequentially, crude steel production fell 1% from 6.87 MMT posted in Q3 FY24.

Production of Indian operations stood at 6.54 million tonnes during the quarter, registering a growth of 3% YoY and a decline 1% QoQ with capacity utilisation level stood at % for Q3 FY24.

The firm said that JSW Steel USA – Ohio reported better volumes on QoQ as well as YoY basis. Production of JSW Steel USA – Ohio in Q4 FY24 was at 0.25 million tonnes, (up 19% YoY and 3% QoQ).

On full year basis, the steel maker registered highest ever consolidated crude steel production of 26.43 MMT in FY24, up 9% as against 24.15 MMT in FY23.

The company achieved combined production of 26.68 million tonnes as against its guidance of 26.34 million tonnes, which is a 101% achievement.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The steel manufacturer reported a consolidated net profit of Rs 2,415 crore in Q3 FY24, steeply higher than Rs 490 crore recorded in Q3 FY23. Revenue from operations grew by 6.87% year on year to Rs 41,337 crore in the quarter ended 31 December 2023.

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JSW Steel has achieved its highest ever annual consolidated crude steel production of 26.43 million tons, with a growth of 9% YoY.

Crude Steel production for Q4 FY 24 stood at 6.79 Million tonnes, higher by 3% YoY.

Capacity utilisation at Indian Operations level stood at 93% for Q4 FY 24. JSW Steel USA –Ohio reported better volumes on QoQ as well as YoY basis.

The Company achieved combined annual production of 26.68 million tonnes against its guidance of 26.34 Million tonnes, which is a 101% achievement.

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The subsidiary commissioned its hot strip mill with a capacity of 5 million tonne per annum (MTPA) and has made its first dispatch, said the firm.

The HSM facility has capability of manufacturing plates, coils and is equipped with advanced features such as digital reheating furnaces, evaporative cooling system and waste heat recovery system, attached edger in finishing mills for accurate width control, auto steering control, uniform mechanical properties and production of superior value added grades, the company stated in the press release.

The facility was inaugurated on 17 March 2024 and following successful trial runs, quality and delivery testing, commercial manufacturing and sales have commenced.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The steel manufacturer reported a consolidated net profit of Rs 2,415 crore in Q3 FY24, steeply higher than Rs 490 crore recorded in Q3 FY23. Revenue from operations grew by 6.87% year on year to Rs 41,337 crore in the quarter ended 31 December 2023.

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The subsidiary commissioned its hot strip mill with a capacity of 5 million tonne per annum (MTPA) and has made its first dispatch, said the firm.

The HSM facility has capability of manufacturing plates, coils and is equipped with advanced features such as digital reheating furnaces, evaporative cooling system and waste heat recovery system, attached edger in finishing mills for accurate width control, auto steering control, uniform mechanical properties and production of superior value added grades, the company stated in the press release.

The facility was inaugurated on 17 March 2024 and following successful trial runs, quality and delivery testing, commercial manufacturing and sales have commenced.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The steel manufacturer reported a consolidated net profit of Rs 2,415 crore in Q3 FY24, steeply higher than Rs 490 crore recorded in Q3 FY23. Revenue from operations grew by 6.87% year on year to Rs 41,337 crore in the quarter ended 31 December 2023.

Shares of JSW Steel rose 1.66% to end at Rs 831.35 on Thursday, 28 March 2024.

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