Jindal Stainless Limited (JSL) expects its June export despatches to reach pre-COVID-19 levels, according to its BSE filing on June 4. The company aims to despatch of 18,000mt in seaborne markets in June.
With India yet to lift its lockdown completely, the company looks to boost its exports. In May, JSL despatched 12,000mt in the export market accounting for over 40pc of its total despatches. Usually, this percentage stands between 18-20pc says the company.
Amid COVID-19 outbreak, JSL aggressively chased export markets in the EU and Russia, where a major part of the despatches went. The company is now looking at other markets like South America and the Republic of Korea to maximise exports. The company has also ramped up its operations after restarting in the first week of May. Downstream JSL facilities had ramped up their capacity utilisation levels to around 60pc. In June, utilisation levels are expected to rise. The company states India is likely to emerge as a manufacturing hub with many subsidized Chinese industries vacate global markets.