JSW Steel registers 24% yoy growth in consolidated crude steel production

JSW Steel reported its highest ever quarterly consolidated crude steel production at 6.58 million tonnes for Q4 FY23, registering a growth of 13% YoY and 7% QoQ. 

This was driven by improved capacity utilization at the Indian operations (capacity utilization of 96% in Q4 FY23 against 91% in Q3 FY23), the company said in a filing.

Consolidated Crude Steel production for FY23 was the highest ever at 24.15 Mnt, up 24% YoY.

The Company achieved combined production of 24.57 million tonnes against its guidance of 25 million tonnes, which is a 98% achievement. 

While the Company achieved 100% of its Guidance for Consolidated Indian Operations, production volumes at JISPL and JSW Steel USA - Ohio were impacted due to shutdowns and subdued market conditions for part of the year.

On Tuesday, at around 10:45 AM, JSW Steel was trading higher by 2.51% at Rs706.05 per share on the BSE.