JSW Steel moves up on reporting growth of 13% in crude steel production in Q4FY23

JSW Steel is currently trading at Rs. 694.45, up by 5.70 points or 0.83% from its previous closing of Rs. 688.75 on the BSE.

The scrip opened at Rs. 690.00 and has touched a high and low of Rs. 697.45 and Rs. 690.00 respectively. So far 8507 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 789.95 on 19-Apr-2022 and a 52 week low of Rs. 520.10 on 26-May-2022.

Last one week high and low of the scrip stood at Rs. 697.45 and Rs. 675.30 respectively. The current market cap of the company is Rs. 167912.22 crore.

The promoters holding in the company stood at 45.19%, while Institutions and Non-Institutions held 35.89% and 18.92% respectively.

JSW Steel has reported its highest ever quarterly consolidated crude steel production at 6.58 million tonnes (MT) for Q4 FY23, registering a growth of 13% YoY and 7% QoQ. This was driven by improved capacity utilisation at the Indian operations (capacity utilisation of 96% in Q4 FY23 versus 91% in Q3 FY23). Consolidated Crude Steel production for FY23 was the highest ever at 24.15 MT, up 24% YoY.

The company achieved combined production of 24.57 MT against its guidance of 25 MT, 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.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.