JSW Steel Group Crude Steel production volume at 5.07 MT in Q1FY2022

JSW Steel Group has reported combined Crude Steel Production of 5.07 million tonnes (MT) in Q1FY2022 registering a growth of 16% QoQ and 65% YoY, including the production at jointly controlled entities viz. Bhushan Power & Steel Ltd. and JSW Ispat Special Products Ltd.

JSW Steel Indian operations posted Crude Steel Production of 4.93 MT in Q1FY22, up 13% QoQ from 4.37 MT and rises 62% YoY from 3.04 MT in Q1FY21.

Standalone production of JSW Steel was at 4.10 MT in Q1FY2022, a drop of 2% QoQ as against 4.19 MT in Q4FY21 and increase of 39% YoY as compared to 2.96 MT in Q1FY21. The capacity utilization at standalone level was at 91% in Q1FY22 due to shortage of oxygen vis-a-vis 93% in Q4FY21, as the company supplied over 65,000 tonnes of Liquid Oxygen during Q1FY22 for medical purposes from the Steel Complexes of the company across India.

Production at Bhushan Power & Steel Ltd was at 0.69 MT in Q1FY22 as against 0.04 MT in Q4FY21.

JSW Ispat Special Products Ltd reported 6% QoQ drop in crude steel production to 0.14 MT in Q1FY22 as compared to 0.15 MT in Q4FY21 and 76% YoY growth from 0.08 MT in Q1FY21.

JSW USA Ohio restarted Electric Arc Furnace in March 2021 after refurbishing and the capacity is being ramped up. The company reported crude steel production of 0.14 MT in Q1FY22 as against 0.02 MT in Q4FY21 and 0.03 MT in Q1FY21.

Shares of JSW STEEL LTD. was last trading in BSE at Rs.668.4 as compared to the previous close of Rs. 690. The total number of shares traded during the day was 279046 in over 6511 trades.

The stock hit an intraday high of Rs. 691 and intraday low of 666.5. The net turnover during the day was Rs. 188968711.

Source : Equity Bulls

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