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Jindal Steel Ltd. — Earnings Release 2022
Jul 7, 2021
14959_rns_2021-07-07_2ae48d3f-ddb9-4e61-ab97-d7da0cc5bd66.pdf
Earnings Release
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July 7, 2021
| BSE Limited Corporate Relationship Department, 1stFloor, New Trading Ring, Rotunda Building, P J Towers, Dalal Street, Fort, Mumbai – 400 001 [email protected] Scrip Code: 532286 |
National Stock Exchange of India Limited Exchange Plaza, 5thFloor, Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai-400051 [email protected] Symbol: JINDALSTEL |
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Dear Sir / Madam,
Subject: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Press Release
In terms of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith, a copy of press release to be issued by the Company on the following subject:
“JSPL’s production jumps 20% year on year in 1QFY22 despite lockdown restrictions”
Thanking you.
Yours faithfully, For Jindal Steel & Power Limited
Anoop Singh Juneja Company Secretary & Compliance Officer
Encl.: as above
Jindal Steel & Power Limited Corporate Office: Jindal Centre, 12 Bhikaiji Cama Place, New Delhi 110 066 CIN: L27105HR1979PLC009913 T: +91 11 4146 2000 F: +91 11 2616 1271 W: www.jindalsteelpower.com E: [email protected] Registered Office: O. P. Jindal Marg, Hisar, 125 005, Haryana
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Media Release
JSPL’s production jumps 20% year on year in 1QFY22 despite lockdown restrictions
Key Highlights:
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Steel Production was up 20% Y-o-Y in 1QFY22 to 2.01million tonnes
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Sales of 1.61 million tonnes were up 3% (Y-o-Y)
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Exports accounted for 34% of total sales volumes
7[th] July 2021, New Delhi: Jindal Steel & Power Limited (JSPL), continued to report strong production in the first quarter of FY22. Steel production surged – 20% y-o-y to 2.01 million tonnes (June 21 0.64 million tonnes), marking a record first quarter production and second highest quarterly production ever. Conscious decision by the company to divert oxygen towards saving precious human lives led to production getting impacted slightly. Solid performance in 1QFY22 gives us confidence of achieving FY22 production target of 8.0-8.5 million tonnes.
Despite challenging demand conditions in the domestic market, as a result of a severe than expected second wave of COVID-19, JSPL sales were resilient at 1.61 million tonnes (+3% Y-o-Y). Buoyant export markets continued to provide support with exports accounting for 44% of volumes in the month of June 21 and 34% in 1QFY22. Exports were however impacted by logistical challenges posed by adverse weather conditions leading to congestion at ports. Inventory of 1.5 lakh tonnes currently remains stuck at port; which will be shipped as soon as the logistical bottlenecks are removed.
| In Million tonnes | 1QFY22 | 1QFY21 | Y-o-Y |
|---|---|---|---|
| Production | 2.01 | 1.67 | +20% |
| Sales | 1.61 | 1.56 | +3% |
| Exports (% of sales) | 34% | 58% |
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“We are happy that despite pandemic adversities the company has maintained the growth momentum and an upward trajectory. We aim to 8.0-8.5 Million tonnes of steel in FY22 in line with our core produce philosophy of nation building and working towards a self-reliant India. We also aim to reduce our overall debt to INR9,900 Crores by the end of this financial We are confident that the India is intact and year. growth story our economy will continue its growth trajectory, `said Mr V R Sharma, Managing director of JSPL in a statement.
About JSPL:
JSPL is a leading Indian Infrastructure Conglomerate with a presence in the Steel, Power, and Mining sectors. With an investment of approximately 12 billion USD (90,000 Crore Rupees) across the globe, the Company is continuously scaling its capacity utilization and efficiencies to contribute towards building a self-reliant India.
_______________ Disclaimer: The Figures mentioned in this release are provisional.
For further information, please contact Corporate Communication:
Kuldeep Singh , +91 9899692981; [email protected] Sudeep Purkayastha, +91 9899441119 [email protected]
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