JSW Steel Witnesses Record Steel Output In FY17

JSW Steel has recorded its highest-ever crude steel production at 15.80 MT in FY17, surpassing earlier guidance.

As per JSW Steel's Annual Report 2016-17, company's steel production stood 25% more as against its production in 2015-16. The growth has come despite a relatively modest industry and GDP performance.

JSW Steel's achievement comes against the backdrop of a sluggish steel demand growth at 2.6% y-o-y in India.  India has gone through demonetisation due to which some of the market segments faced temporary negative consumption shock.

Against this backdrop, the company strategically enhanced export sales to offset domestic slowdown, with continued focus on enriching the product mix.

JSW Steel ended at Rs 203.25, down by Rs 1.9 or 0.93% from its previous closing of Rs 205.15 on Friday, on the BSE.

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