Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Jindal Steel and Power produced 1.67mn mt steel in Q1 (March-June) registering an 8pc growth from the prior quarter. Sales grew by 12pc to 1.56mt in June quarter from the prior quarter.


The company reported a healthy growth in both production and sales amid the crisis situation that COVID-19 pandemic created. Several steel companies cut production during the lockdown. Sales grew for JSPL, domestically and overseas, with higher contribution from exports.


The company’s Oman arm registered a de-growth in production and sales. Production slipped by 36pc to 0.36mn mt in Q1 while sales fell by 6pc to 0.50mn mt from the prior year quarter. 


On a consolidated basis, production was hurt and fell 4pc from the prior quarter to 2.03mn mt while sales rose 7pc to 2.07mn mt from the prior year quarter. 


Sales rose as exports of more than 1mn mt was carried out in the last 100 days. Export sales accounted for 58pc of total sales volume in Q1. 


JSPL’s wholly owned Mauritius subsidiary will sell its entire stake in Jindal Shaheed Iron and Steel, Oman to Templar Investments.

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