The independent performance report released by India's Jindal stainless steel
(Hisal) Co., Ltd. (JSHL) shows that as of June 30, 2019, the first quarter of
fiscal year 2019/2020, despite poor market demand, its performance remained
stable overall.
The output of stainless steel crude steel in the quarter was 160,291 tons, which was approximately the same as the same period of last year. The sales volume of stainless steel was 151,873 tons, which was a decrease of nearly 10.9% compared with 170,422 tons in the same period of the previous year. The gross operating profit (EBITDA) decreased by approximately 6% year-on-year to Rs.214.728 billion, and increased by approximately 9.2% month-on-month to Rs. 2.37 billion, and the after-tax profit increased by approximately 28.1% and 5.8% year-on-year to Rs. 840 million.
During this period, sales of its specialty products, such as blade steel, precision belts, and coin steel, increased by nearly 6%. Demand for stainless steel from railway wagons and buses continues to be strong.
In order to enhance the operating efficiency, JSHL has commissioned a new induction furnace in the steelmaking workshop. This positive action will help reduce production costs, increase productivity and improve resource utilization.
