Synopsis: In Q2 FY24, Bhushan Power & Steel, JSW Steel Coated Products, JSW Steel USA Ohio, US Plate & Pipe Mill, and the Italy Operations reported their performance. While some showed promising growth in production and sales, others faced challenges due to market conditions and pricing.Article: In the second quarter of FY24, some key subsidiaries reported their performance, painting a vivid picture of the steel landscape.Bhushan Power & Steel (BPSL) has had an encouraging quarter. The firm saw Crude Steel Production reach 0.77 million metric tons and its sales volume soared to 0.80 million metric tons. These impressive figures resulted in a revenue of ₹5,817 crores and an operating EBITDA of ₹45 crores. The cherry on the cake was the Profit after Tax, which stood at ₹210 crores for the quarter.In contrast, JSW Steel Coated Products and its subsidiaries registered a production volume of 1.07 million metric tons and a sales volume of 1.09 million metric tons. Their performance reflected in their revenue, which amounted to ₹8,965 crores. However, the subsidiary's EBITDA was ₹411 crores, and they managed to achieve a Profit after Tax of ₹113 crores for the quarter.The scenario was different across the Atlantic. JSW Steel USA Ohio reported production of 151,313 net tonnes of Slabs but faced challenges in the US market. Sales volumes included 59,136 net tonnes of HRC and 116,091 net tonnes of Slabs. Regrettably, the subsidiary reported an EBITDA loss of US$29.4 million for the quarter, a consequence of unfavorable market conditions and reduced steel prices.Further south, the US Plate & Pipe Mill in Texas showcased its performance. The mill churned out 88,090 net tonnes of Plates and 5,052 net tonnes of Pipes, clocking a capacity utilization of 37% and 4%, respectively. The sales for the quarter included 92,423 net tonnes of Plates and 6,335 net tonnes of Pipes, leading to a robust EBITDA of US$ 25.96 million.Over in Europe, the Italy Operations marked their presence. The facility produced 61,520 metric tons and made sales of 78,651 metric tons of rolled products. Despite the increased volumes, the subsidiary reported an EBITDA of Euro 8.9 million for the quarter, affected by lower net realizations.Conclusion: The steel industry's performance in Q2 FY24 indicates the dynamic nature of global markets. While some subsidiaries like BPSL and JSW Steel Coated Products reveled in success, others like JSW Steel USA Ohio faced headwinds. Yet, the resilience and adaptability of these steel giants ensure they remain pivotal players in the world's economic tapestry.