JSW Steel achieved its highest-ever annual consolidated crude steel production of 26.43 million tonnes, with a growth of 9 percent YoY. The production for Q4 FY24 stood at 6.79 million tonnes, higher by 3 percent in the year ago quarter.
Apr 11, 2024
JSW Steel reported a stellar growth in its consolidated crude steel production in the financial year 2023-24 (FY24), exceeding its annual production guidance for the period.
As per a statement by the Mumbai-based multinational, it posted a record output of 26.43 million tonnes of crude steel during the financial year 2023-24, registering an year-on-year growth of 9 percent.
The company achieved combined production of 26.68 million tonnes as against its guidance of 26.34 million tonnes in the financial year that ended on March 31, 2024, which was a 101 percent achievement. JSW Steel had produced 24.14 million tonnes of crude steel on a consolidated basis in the preceding financial year.
In the January-March period of 2024, the consolidated output of JSW Steel stood at 6.79 million metric tonnes (MMT), registering a 3 percent growth over 6.58 MMT recorded in Q4 FY23.
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The company produced 25.55 million tonnes of steel from its India operations, up 8 percent over 23.62 million tonnes in the last fiscal. The output in India rose 3 percent to 6.54 million tonnes from 6.37 million tonnes in the same quarter last fiscal.
In the US, JSW Steel USA Ohio posted a 63 percent rise in output to 0.87 tonnes from 0.53 tonnes in FY23. The production in the last quarter was at 0.25 tonnes over 0.21 tonnes, a rise of 19 percent. The capacity utilisation at Indian operations level stood at 93 percent for Q4 FY 24.
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JSW Steel further said that the merger of the Joint Venture, Creixent Special Steels Limited along with its subsidiary JSW Ispat Special Products Limited (JISPL) with the company became effective on July 31, 2023.
During FY24, JISPL produced 0.26 tonnes of steel, as against 0.42 tonnes in FY23. JSW Steel is the flagship business of the diversified USD 23 billion JSW Group.
