Indian stainless steel giant Jindal Stainless Limited has reported 355% YoY surge in profits in FY 2021-22 the increased its exports sales, with a keen focus on the value-added product segments to overcome volatility and global disruptions in raw material supply and logistics. JSL Managing Director Mr Abhyuday Jindal said “JSL’s strategic decision to focus on export sales and strengthen its niche value-added product portfolio resulted in a robust performance. This also enabled the Company steer through certain challenging segments in the domestic market that faced subsidized imports from China and Indonesia. We continue to work closely with our customers to develop new products and the ecosystem, for catering to new opportunities of stainless steel applications in infrastructure and emerging focused sectors like Green Hydrogen and ethanol. We are also proactively switching from thermal to renewable energy infrastructure at our plant premises, and are working towards our goal of net zero carbon emissions by 2050.”FY 2021-22 Consolidated------------------------------SS Sales Volume – 1.011 million tonne, up 23% YoYTotal Revenue - 21,223 crores, up 74% YoYEBITDA - 2,987 crores, up 110% YoYPAT - 1,909 crores, up 355% YoYJSL said “A diversified market presence and increased proportion of exports mix partially compensated for the lower domestic sales in certain sectors. Dumping of imported and subsidized material from China and Indonesia led to a muted domestic demand and reduced price levels. Domestic-& export share of sales volumes during FY 2021-22 wasDomestic - 75%, down 7% YoYExport - 25%, up 32% YoYJSL added “Key domestic sectors like elevators and escalators, railway wagons, railway coaches and metros continued to register a steady demand. JSL is closely working with major domestic players across these segments to customize products as per their requirement. Under its ‘Local to Global’ initiative, JSL is in the process of providing customized product solutions for international operations of select domestic customers having a global presence. The Company supplied various critical grades like Super Duplex and Cobalt restricted stainless steel for several indigenous nuclear applications and key fertilizer projects.”
Indian stainless steel giant Jindal Stainless Limited has reported 355% YoY surge in profits in FY 2021-22 the increased its exports sales, with a keen focus on the value-added product segments to overcome volatility and global disruptions in raw material supply and logistics. JSL Managing Director Mr Abhyuday Jindal said “JSL’s strategic decision to focus on export sales and strengthen its niche value-added product portfolio resulted in a robust performance. This also enabled the Company steer through certain challenging segments in the domestic market that faced subsidized imports from China and Indonesia. We continue to work closely with our customers to develop new products and the ecosystem, for catering to new opportunities of stainless steel applications in infrastructure and emerging focused sectors like Green Hydrogen and ethanol. We are also proactively switching from thermal to renewable energy infrastructure at our plant premises, and are working towards our goal of net zero carbon emissions by 2050.”FY 2021-22 Consolidated------------------------------SS Sales Volume – 1.011 million tonne, up 23% YoYTotal Revenue - 21,223 crores, up 74% YoYEBITDA - 2,987 crores, up 110% YoYPAT - 1,909 crores, up 355% YoYJSL said “A diversified market presence and increased proportion of exports mix partially compensated for the lower domestic sales in certain sectors. Dumping of imported and subsidized material from China and Indonesia led to a muted domestic demand and reduced price levels. Domestic-& export share of sales volumes during FY 2021-22 wasDomestic - 75%, down 7% YoYExport - 25%, up 32% YoYJSL added “Key domestic sectors like elevators and escalators, railway wagons, railway coaches and metros continued to register a steady demand. JSL is closely working with major domestic players across these segments to customize products as per their requirement. Under its ‘Local to Global’ initiative, JSL is in the process of providing customized product solutions for international operations of select domestic customers having a global presence. The Company supplied various critical grades like Super Duplex and Cobalt restricted stainless steel for several indigenous nuclear applications and key fertilizer projects.”
