Jindal Stainless Q4 FY22 sales rises 6% YoY to 2.69 MT

13 Apr 2022 , 03:27 PM

The sales volume was backed by JSLs supply chain and a flexible product mix with a focus on value added product segments. Despite volatility and global disruptions in raw material supply and logistics, JSL upped its exports. The companys exports sales proportion doubled to 32% of sales volumes in Q4 FY22 as compared to 16% Q4 FY21.

Jindal Stainless (JSL) total sales volume for FY22 stood at 1,011,292 MT, growing 23% as against FY21.

However, the domestic market continued to be marred by cheap stainless steel imports from China and Indonesia in Q4 FY22. The domestic demand increased in segments like lifts and elevators and railways. However, demand in consumer facing segments like hollowware and pipe and tubes remained muted due to channel de-stocking, owing to increase in raw material prices.

Jindal Stainless consolidated net profit surged 159.6% to Rs 441.78 crore on a 58.2% surge in net sales to Rs 5,670.02 crore in Q3 December 2021 over Q3 December 2020.

Shares of Jindal Stainless lost 0.22% to Rs 202.40 on BSE. JSL is one of the largest manufacturers of SS in India with steel melting capacity of 1.1 MTPA (metric tonnes per annum).

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