JSW Steel posts record output at 26.43 MnT in FY24

New Delhi: JSW Steel on Monday posted a record output of 26.43 million tonnes of crude steel during financial year 2023-24, registering an on-year growth of 9 per cent.

It had produced 24.14 million tonnes (MnT) crude steel on a consolidated basis in preceding financial year, JSW Steel said in a statement.

In the January-March period of 2024, the consolidated output was at 6.79 MnT, higher by 3 per cent over 6.58 MnT in the year-ago quarter.

"JSW Steel has achieved its highest-ever annual consolidated crude steel production of 26.43 MnT, with a growth of 9 per cent YoY. The production for Q4 FY24 stood at 6.79 MnT, higher by 3 per cent YoY," it said.

The company produced 25.55 MnT steel from its India operations, up 8 per cent over 23.62 MnT in the last fiscal.

The output in India rose 3 per cent to 6.54 MnT from 6.37 MnT in the same quarter last fiscal.

In the US, JSW Steel USA Ohio posted a 63 per cent 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 per cent.

The capacity utilisation at Indian operations level stood at 93 per cent 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 USD 23-billion JSW Group.