JSW Steel Achieves Record Annual Crude Steel Production of 26.43 Million Tons

On April 8, 2024, JSW Steel informed the stock exchanges that the company had achieved its highest-ever annual consolidated crude steel production of 26.43 million tons, with a growth of 9% YoY.

The crude steel production for Q4 FY 2024 stood at 6.79 million tonnes, which is higher by 3% YoY. The capacity utilisation at the Indian operations level stood at 93% for Q4 FY 2024 with 6.54 million tonnes. JSW Steel USA – Ohio reported 0.25 million tonnes for Q4 FY 2024 and 0.87 million tonnes in FY 2024.

Overall, the company reported a combined annual production of 26.68 million tonnes. The annual production in the case of Indian operations in the financial year 2024 was 25.55 million tonnes, which was approximately 8.17% higher than the 23.62 million tonnes reported in the financial year 2023.

The merger of the Joint Venture, Creixent Special Steels Limited, and its subsidiary, JSW Ispat Special Products Limited (JISPL), with the company became effective on 31 July 2023.

JSW Ispat Special Products Limited reported crude steel production of 0.26 million tonnes in the financial year 2024.

Over the last 30 years, JSW Steel has grown immensely from a single manufacturing facility to become the leading integrated steel company with a capacity of 29.7 MTPA in India and the US. The company expects that the next growth phase in India will take its total capacity to 38.5 million tonnes per annum by FY 2025. JSW Steel’s manufacturing unit in Vijayanagar, Karnataka, is the largest single-location steel-producing facility in the country, with a current capacity of 12.5 MTPA.

In December 2023, JSW Steel Ltd was ranked 8th among the top 35 world-class steelmakers, as per the ‘World-Class Steelmaker Rankings’ by World Steel Dynamics (WSD), based on various factors.

On April 8, 2024, JSW Steel share price opened at ₹864.00, touching the day’s high at ₹867.50, as of 10:26 AM on the NSE.

About JSW Steel Ltd

JSW Steel is mainly involved in the manufacturing and sale of iron and steel products. It is the flagship business of the diversified JSW Group, which also has interests in infrastructure, energy, paints, cement, sports, and venture capital.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary. sources on the internet and is subject to changes. Please consult an expert before making related decisions.