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JSW operating margins to drop marginally in FY12 - Mr Sajjan Jindal

Steel News - Published on Thu, 28 Jul 2011

Steel major JSW Steel cautioned its operating margins are expected to remain depressed, largely on account of higher prices of inputs and the company has taken definitive steps to cement its input security.

Mr Sajjan Jindal chairman of JSW Steel told shareholders at the company\'s 17th annual general meeting said that \"The operating margins are expected to decline marginally in 2011- 12 (as against the fourth quarter of 2010-11) due to higher coking coal prices.”

However, the firm\'s earnings are expected to increase through volume growth, higher raw material integration from international resource bases and increased cost efficiencies through enhanced capacities in captive power, captive coke, beneficiation, sintering and pelletization, Jindal said.

Commenting on future outlook, Mr Jindal said demand for steel is expected to grow over the coming years. This optimism is borne out from an important reality.

Mr Jindal said that the top four Indian steel makers are expected to increase their capacity by 26% in 2011-12 taking India\'s steelmaking capacity to 98 million tonnes, according to government estimates.

(Sourced from Moneycontrol.com)

Posted By : admin on Thu, 28 Jul 2011
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