JSPL continues its consistent growth performance, Standalone Sales up by 37%

India's leading Infrastructure conglomerate in the Steel, mining & Power sector, Jindal Steel & Power Limited has recorded a 38% (YoY) growth in consolidated Steel Sales (Inc. Pig iron) with 8,36,000 tonnes in August 2020 against Consolidated Steel sales of 6,06,000 tonnes in the previous year. JSPL's Consolidated Steel Production (Inc. Pig iron) stood at 8,25,000 tonnes with a growth rate of 21% (YoY) in comparison to 6,81,000 tonnes of Consolidated Steel production in the previous year.

JSPL's standalone Steel Production rises by 18% YoY( with 6,25,000 tonnes (Inc. Pig iron)) in August 2020 in comparison to 5,29,000 tonnes of Steel production in the previous year. JSPL's standalone sales (Inc. Pig iron) also increase by 37% (YoY) with 6,82,000 tonnes in August 2020 as compared to 4,96,000 tonnes of standalone steel production in the previous year.

Steel Exports contributed to 42% of the total sales volumes. JSPL's Barbil Pellet plant achieved the best-ever production of 7,00,600 tonnes of pellets in the month of August 2020, which is the highest ever monthly production figure since its inception.

"We are happy to share that at JSPL Angul, World's First Coal Gasification based DRI plant is adding to higher production volumes. The Company has recorded its highest ever Gas based DRI production with over 72% of rated capacity in August 2020. JSPL is consistently working towards its goal of reducing overall debt to Rs. 15,000 crores by 2023. The company's Steel export volumes have come down significantly with an increase in domestic sales post the lockdown period. Our target is to achieve Rs. 50,000 crore turnover by 2023. Mr. V R Sharma, MD JSPL said in a statement.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.221.35 as compared to the previous close of Rs. 218.15. The total number of shares traded during the day was 828352 in over 6788 trades.

The stock hit an intraday high of Rs. 222.8 and intraday low of 212.55. The net turnover during the day was Rs. 181537441.

Source : Equity Bulls

Keywords