JSW Steel output grows 6% in Q4; registers 6% fall in FY21

JSW Steel on Thursday reported nearly 6 percent year-on-year increase in its output at 4.19 million tonne (MT) for the quarter ended March 31, 2021.

In a statement, the JSW Group company said it had produced 3.97 MT steel during the same quarter of financial year 2019-20.

During January-March 2021, the company''s production of flat rolled products rose by 4 percent to 2.99 MT, from 2.87 MT in the year-ago period.

While the output of long rolled products registered a rise of 11 percent to 1.05 MT, from 0.95 MT in January-March quarter of 2019-20 fiscal.

The company''s average capacity utilisation improved to 93 percent in the last quarter. In March alone, the capacity utilisation was 96 percent.

"Even though the average capacity utilisation improved from 66 percent in Q1 (April-June) to 93 percent in Q4 (January March), the crude steel production for FY 2020-21 was lower by 6 percent mainly due to disruption in production caused by the outbreak of COVID-19 in Q1 2020-21," the company said.

In the financial year 2020-21, the company saw its output falling by 6 percent to 15.08 MT, as against 16.06 MT in the preceding fiscal.

During April-March 2020-21, the company produced 10.87 MT flat rolled products, down 4 percent from 11.35 MT in the 2019-20 fiscal.

The output of long rolled products also fell by 14 percent to 3.21 MT from 3.72 MT a year ago.