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JSW Steel showed a record output of 26.43 million tonnes (MT) of crude steel during financial year 2023-24, registering an on-year growth of 9%. It had produced 24.14 MT crude steel on a consolidated basis in preceding financial year, JSW Steel mentioned in a statement.
In the January-March period of 2024, the consolidated output was at 6.79 MT, higher by 3% over 6.58 MT in the year-ago quarter. "JSW Steel has achieved its highest-ever annual consolidated crude steel production of 26.43 MT, with a growth of 9% YoY. The production for Q4 FY24 stood at 6.79 MT, higher by 3% YoY," it said.
The company produced 25.55 MT steel from its India operations, up 8% over 23.62 MT in the last fiscal. The output in India rose 3% to 6.54 MT from 6.37 MT in the same quarter last fiscal. In the US, JSW Steel USA Ohio posted a 63% rise in output to 0.87 tonnes from 0.53 tonne in FY23. The production in the last quarter was at 0.25 tonnes over 0.21 tonnes, a rise of 19%.
The capacity utilisation at Indian operations level stood at 93% for Q4 FY 24. JSW Steel further said "the merger of the Joint Venture, Creixent Special Steels Limited along with its subsidiary JSW Ispat Special Products Limited (JISPL) with the company has become effective on 31 July 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 $23-billion JSW Group.
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