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JSW Steel Reports 26% Growth in Crude Steel for FY12 Fourth Quarter
05/01/2012 - JSW Steel Limited reported the production of 2.07 million tonnes in the fourth quarter of fiscal year 2012, reflecting a 26% growth in crude steel production compared to the previous fiscal year’s fourth quarter.
JSW Steel Limited reported the production of 2.07 million tonnes in the fourth quarter of fiscal year 2012 (FY12), reflecting a 26% growth in crude steel production compared to the previous fiscal year’s fourth quarter.
In the fourth quarter of FY12, the company also produced 1.49 million tonnes of flat rolled products, a 13% increase compared to the year-ago fiscal fourth quarter, as well as the production of 0.47 million tonnes of long rolled products, a 67% increase compared to the year-ago fiscal fourth quarter.
For the full fiscal year 2011-12, the company reported crude steel production of 7.43 million tones, representing 16% growth over the previous year. The company also produced 5.36 million tonnes of flat rolled products in FY12, a 9% increase over the previous year, as well as the production of 1.52 million tonnes of long rolled products, a 34% increase over the previous year.
At the beginning of FY 2011-12, the company gave guidance of 8.75 million tons of crude steel production. However, the company ended up scaling back production when iron ore became scarce due to an imposed ban on iron ore mining in the State of Karnataka by Honourable Supreme Court. As a result, the company’s actual crude steel production was only 85% of initial guidance.
JSW Steel Ltd., belonging to JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interest in mining, carbon steel, power, industrial gases, port facilities, aluminum, cement and information technology. JSW Steel Limited is engaged in the manufacture of flat and long products including hot and cold rolled coils, galvanized and galvalume products, auto grade/white goods grade cold rolled/continuously annealed steel, as well as bars and rods. JSW Steel Limited has a presence in over 100 countries across five continents.
