Buoyed by higher sales and increased margin Jindal Steel and Power Ltd, after 6 years of losses, announced net profit of INR 5,527 crore for financial year 2020-21. In 2019-20 fiscal, the company reported a loss of INR 574 crore. JSPL’s annual consolidated gross revenue grew by 224% YoY to INR 42,745 crore with EBIDTA rising to INR 14,444 crore. JSPL’s annual production of steel including pig iron rose 19% YoY to 7.51 million tonnes, while the production of pellets rose by 6.6% YoY to 7.28 million tonnes. Better export markets during the year resulted in JSPL exports rising by 226% YoY to 2.53 million tonnes in FY21, accounting for 35% of the overall sales versus 13% in FY20
Focusing on strengthening the balance sheet, the company has pared down its consolidated net debt by INR 13,773 crore for the entire 2020-21 fiscal. As of March 2021, JSPL’s consolidated net debt stood at INR 22,146 crore.
The core focus right now is to sweat out assets and make JSPL net debt-free. Thereafter, the company will be embarking on a journey to expand its profitability and volumes via the Angul expansion from 6 million tonne per annum to 12 million tonne per annum taking JSPL’s overall steel capacity to around 16 million tonne per annum in India
-Spring Industry Exhibition, spring expo, 2021
Spring exhibition, 2021 Spring expo, China Spring exhibition, China Spring
expo, steel spring exhibition, steel spring expo, Springs Industry Exhibition,
springs expo, 2021 Springs exhibition, 2021 Springs expo, China Springs
exhibition, China Springs expo, steel springs exhibition, steel springs expo
|