JSW Steel records 28% yoy rise in crude steel production during Q3FY22 to 5.35 million tonnes

11 Jan 2022 , 11:35 AM

JSW Steel Limited announced its results for the quarter ending December 2021 and reported group combined steel production at 5.35 million tonnes, including the production at jointly controlled entity JSW Ispat Special Products Ltd. (JISPL).

The shares of JSW Limited opened at a lower price of Rs 664 per piece than the earlier closing of Rs 672.10 per piece, and are currently trading at Rs 657.70 per piece reflecting about a 2.14% decrease since its previous closing.

During Q3’22, the capacity utilization of existing operations at the standalone level was at 94%.

Bhushan Power & Steel Ltd.’s production of Q3 was comparatively lower due to the shutdown of the Continuous Strip Plant of 10 days for upgrading automation at the plant.

The company recorded a crude steel production growth of 16% on a standalone basis and 39% at the steel group level.

JSW Steel is the flagship business of the diversified US$ 13 billion JSW Group. As one of India’s leading business houses, JSW Group also has other business interests in sectors such as energy, infrastructure, cement, paints, sports, and venture capital. JSW Steel, certified as Great Places To Work in 2021, has emerged as an organization with a strong cultural foundation and great potential to be among the Top 100 companies