JSW Steel reported 6.24 million tonnes of group combined crude steel production in Q3 FY23, representing a 17 per cent year on year (YoY) increase, including production at jointly controlled entities.
Production increased by 10 per cent quarter on quarter (QoQ) due to improved average capacity utilisation at JSW Steel and Bhushan Power & Steel to 91 per cent versus 84 per cent in Q2 FY23, as well as the restart of steel manufacturing operations at JSW lspat Special Products on November 14, 2022, following the completion of the July 2022 shutdown.
JSW Steel’s standalone crude steel production was higher by 20 per cent YoY and 9 per cent QoQ at 6.06 million tonnes in Q3 FY23.
For 9M FY23, combined volumes increased 30 per cent year on year to 17.25 million tonnes.
Previously, the State Investment Promotion Board approved investments totaling Rs23,985 crore, which included the Kadapa Steel Plant. Adani Green Energy Limited will make an investment of Rs6,330 crore. Shirdi Sai Electricals’ Rs 8,855 crore hydro storage project has also been approved by the SIPB.
JSW Steel is the flagship company of the USD 22 billion JSW Group. JSW Group, one of India’s leading business conglomerates, is also involved in energy, infrastructure, cement, paints, sports, and venture capital. JSW Steel has emerged as an organisation with a strong cultural foundation, having been certified by Great Places to Work in 2021.
