JSW Steel achieves 16.69 MT production

JSW Steel reported a crude steel production of 16.69 million tons (MT) in FY19, registering a growth of 3 per cent over the corresponding period of the previous year. With this, the company achieved 99.6 per cent of its production guidance of 16.75 Million tonnes, given at the start of FY19.

The production of rolled products (long) increased 3 per cent to 11.74 MT in FY19 from 11.44 MT in the previous fiscal. The production of rolled products (flat) increased 9 per cent to 3.87 MT in FY19 as compared to 3.56 MT in the previous fiscal.

In terms of the recently concluded quarter, the company reported crude steel production of 4.17 MT in Q4FY19, registering a fall of 3 per cent over the corresponding period of the previous year. However, the production of rolled products (long) increased marginally to 3.01 MT in Q4 FY19 as compared to 2.98 MT in the corresponding quarter of the previous year. The production of rolled products (flat) stood at 0.99 MT in Q4FY19 as compared to 1.07 MT in Q4FY18, representing a decline of 8 per cent.

JSW Steel is one of the largest steel manufacturing companies in India with an installed capacity of 18 MTPA.

On Tuesday, the stock of JSW Steel was trading on a negative note. The stock which opened at Rs. 290.65 per share dipped nearly 1.5 per cent to touch an intra-day low of Rs. 285.70. At 14:12 hours, the stock was trading at Rs. 289.30, down by 0.46 per cent from the previous close.