JSW Steel logs 37% yoy growth in crude steel production for Q4FY22; stock zooms ~3%

8 Apr 2022 , 12:25 PM

JSW Steel logged group combined crude steel production of 5.98 million tonnes for Q4FY22, including the production at jointly controlled entity viz. JSW Ispat Special Products Ltd. (JISPL), up by 37% yoy over Q4FY21. It recorded combined crude steel production of 5.35 million tonnes in Q3FY22.

The company was able to improve capacity utilisation of existing operations at a standalone level to 98% in Q4FY22 from 94% in Q3FY22.

The Company reported a 17% yoy jump in crude steel production on a standalone basis and 38% at the steel group level in FY22.

JSW Steel standalone production for Q4FY22 witnessed 20% yoy growth at 5.01 million tonnes, whilst production for the previous quarter stood at 4.41 million tonnes.

Total combined steel volumes stood at 21.47 million tonnes in FY22 as against 15.53 million tonnes in the FY21, registering a growth of 38% yoy.

JSW Steel USA Ohio recorded the highest surge of production of 405% yoy at 0.10 million tonnes in Q4FY22. However, it witnessed a decline of 41% yoy against the previous quarter.

JSW Steel’s counter added 2.77% so far in today’s trade. It was currently trading at Rs748.20, up by Rs20.15 against its previous close of Rs728.05 on NSE. It touched intraday high and low of Rs750.25 and Rs731.20 respectively.