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JSW Steel announces results for 2018-19

Steel News - Published on Mon, 27 May 2019

Image Source: Wikipedia
JSW Steel achieved highest ever Crude Steel production for the year at 16.69 million tonnes, up by 3% YoY as the average capacity utilization levels improved to 93%. The company has achieved 99.6% the crude steel production guidance of 16.75 MTPA for FY2019. Saleable Steel volumes for the year grew by 1% YoY, to 15.76 million tonnes, achieving 98.5% of its guidance of 16 MTPA. Consolidated sales volume stood at 15.6 million tonnes, marginally higher over FY 2018 (15.55 million tonnes).

The Company continued to improve its market share as consolidated domestic sales surged to 13.2 million tonnes in FY2019, an increase of 11% YoY compared to 7.5% YoY increase in Indian Steel demand. JSW Steel's domestic sales growth was led by 20% YoY growth in the Automotive segment. Retail segment sales also registered a growth of 7% YoY as the Company continued to increase the distribution footprint. Sales of value added and special products (VASP) accounted for 53% of total sales volumes for the year.

With a strong focus on domestic market, the Company exported 2.4 million tonnes of steel, a decline of 34% YoY and exports accounted for 15% of total sales in FY2019, compared to 23% in FY2018.

The details of production and standalone sales volumes for the quarter are as under:
Particulars4Q FY20194Q FY2018YoYFY2019FY2018YoY
Production: Crude Steel4.174.31-3.00%16.6916.273.00%
Sales Flat3.082.974.00%11.2911.171.00%
Sales Log1.041.04 3.693.554.00%
- Semis0.180.21-14.00%0.780.9-13.00%
Total Saleable Steel Sales4.294.222.00%15.7615.621.00%
 


JSW Steel Coated Products
During the quarter, JSW Steel Coated Products registered a production volume (Galvanised/Galvalume products) of 0.43 million tons and sales volume of 0.49 million tonnes. Revenue from operations and Operating EBITDA for the quarter stood at INR 3,184 crores and 186 crores respectively. It reported a Net Profit after Tax of INR 7 crores for the quarter. Production volume (Galvanised/Galvalume products) for FY2019 stood at 1.74 million tons and sales volume at 1.79 million tonnes. Revenue from operations and Operating EBITDA for the year was INR 12,324 crores and ? 393 crores respectively. It reported a Net Profit after Tax of INR 80 crores for the year.

US Plate and Pipe Mill
The US based Plate and Pipe Mill facility produced 81,290 net tonnes of Plates and 22,996 net tonnes of Pipes, reporting a capacity utilization of 34% and 17%, respectively, during the quarter. Sales volumes for the quarter stood at 63,890 net tonnes of Plates and 23,785 net tonnes of Pipes. It reported an EBITDA of USD 5.83 million for the quarter. Production volume for FY2019 stood at 333,491 net tonnes of Plates and 73,260 net tonnes of Pipes. Sales volumes for the year stood at 274,513 net tonnes of Plates and 74,980 net tonnes of Pipes. It reported an EBITDA of USD 26.09 million for the year.

JSW Steel USA Ohio Inc (Acero)
The US based HR coil manufacturing facility produced 55,264 net tonnes of HRC during the quarter. Sales volumes for the quarter stood at 59,660 net tonnes. It reported an EBITDA loss of USD 27.81 million for the quarter.

JSW Steel (Italy) S.r.l. (Aferpi)
The Italy based Rolled long products manufacturing facility produced 127,399 tonnes and Sold 104,688 tonnes during the quarter. It reported an EBITDA loss of EUR 2.97 million for the quarter.

Source :

Posted By : Sanju Moirangthem on Mon, 27 May 2019
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