JSW Steel consolidated crude steel production rises 2.3% in Q3, shares trade higher

JSW Steel, led by Sajjan Jindal, said on Friday that its consolidated crude steel production increased by 2.3% year-over-year (YoY) to 7.03 million tonnes (MT) in the quarter ending December 31, 2024 (Q3 FY25) as compared to 6.87 (MT) in the year-ago period.

The company's Indian operation's crude steel production rose by 3% to 6.82 MT as compared to 6.63 MT in the October-December quarter of FY24, JSW Steel said in a company filing.

JSW Steel shares are trading 0.68% up at ₹897 apiece on the NSE on Friday, January 10. Market capitalisation of the company stands at ₹2,19,357.22 crore as per NSE data.

The capacity utilisation at Indian operations, excluding the trial run, reached 91% for the third quarter of the current fiscal.

"Production and capacity utilisation for the quarter was affected due to temporary maintenance activity at one of the Blast furnaces at Dolvi in the month of October, which resumed normal operations in the first week of November," the company said.

JSW Steel’s 5 million tonnes per annum (MTPA) integrated steel project at Vijayanagar, developed by its wholly-owned subsidiary, JSW Vijayanagar Metallics Ltd (JVML), is making strong progress.

After the successful commissioning of the 4.5 MTPA blast furnace, raw material handling system, and sinter plant in the second quarter, JVML completed the commissioning of one of the two converters and castors at the Steel Melt Shop in the third quarter.

The ramp-up of production at the 5 MTPA JVML integrated facility is expected in the fourth quarter.

The total crude steel capacity at Vijayanagar will increase to 17.5 MTPA once it is fully operational, contributing to JSW Steel's overall Indian operation's crude steel capacity rising from 29.2 MTPA to 34.2 MTPA.

JSW Steel is the flagship business of the diversified $24 billion JSW Group, one of India's leading business houses. JSW Group has a diverse portfolio spanning energy, infrastructure, cement, paints, real estate, e-platforms, mobility, defense, sports and venture capital.