Team News Riveting
Raipur, April 5
Jindal Steel and Power Limited (JSPL) has ended the fiscal year on a strong note with sales hitting a new record of 786,000 tonnes in March 2021 registering a growth of 61 per cent year-on-year (y-o-y).
Combination of robust domestic demand, attractive export markets (accounting for 38 per cent of sales) and wide range of products have all contributed to JSPL reporting the steepest rise in monthly sales in FY21. With Mar’21 production also rising by 21 per cent y-o-y to 730,000 tonnes, 4QFY21 production has comfortably crossed the 2 million tonnes mark for the first time ever (2.07 mt).
The company’s operations have displayed resilience in the face of the pandemic, posting the highest ever production and sales in FY21 of 7.51mt (up 19 per cent y-o-y) and 7.28mt (up 20 per cent y-o-y) respectively. Exports accounted for 35 per cent of sales in FY21 compared to 13 per cent in the prior year.
“We are proud of our team for producing 7.51 million tons of steel in this financial year marred by the global pandemic. This remarkable growth during the most challenging time period has been possible due to our firm belief in the India growth story, our focus on creating opportunities in adversity and the dedication of each & every member of the JSPL family. We firmly remain committed towards contributing to an Aatmanirbhar Bharat. We will continue to work towards our target of 15:15:50, i.e., 15,000 Cr EBITDA: 15,000 Cr Net Debt: 50,000 Cr Gross Turnover,” said. Mr. V R Sharma, Managing Director, JSPL.
About JSPL: JSPL is a leading Indian Infrastructure Conglomerate with a presence in the Steel, Power, and Mining sectors. With assets of over USD 11 billion (INR 80,000 Crore) across the globe, the Company is continuously scaling its capacity utilization and efficiencies to contribute towards building a self-reliant India.
