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JSW Steel achieves record production in FY24

JSW Steel achieved a record output of 26.43 million tonnes of crude steel in the fiscal year 2023-24, marking a 9% year-on-year growth.

JSW Steel achieves record production in FY24

This surpasses the 24.14 million tonnes produced in the previous financial year. In the January-March period of 2024, the consolidated output reached 6.79 million tonnes, showing a 3% increase compared to the same quarter last year.

The company highlighted that this achievement represents its highest-ever annual consolidated crude steel production, with a notable growth of 9% year-on-year. Specifically, steel production from its India operations amounted to 25.55 million tonnes, an 8% increase from the previous fiscal year's 23.62 million tonnes. In the final quarter, India's output rose by 3% to 6.54 million tonnes from 6.37 million tonnes in the corresponding period last year.

JSW Steel USA Ohio witnessed a significant rise in output, with a 63% increase to 0.87 tonnes from 0.53 tonnes in FY23. In the last quarter, production reached 0.25 tonnes, marking a 19% increase from 0.21 tonnes in the same period previously.

The capacity utilization at the Indian operations level stood at 93% for Q4 FY24. Additionally, JSW Steel noted that the merger of the Joint Venture, Creixent Special Steels Limited, along with its subsidiary JSW Ispat Special Products Limited (JISPL), with the company became effective on July 31, 2023. During FY24, JISPL produced 0.26 tonnes of steel, compared to 0.42 tonnes in FY23.

JSW Steel, the flagship business of the diversified $23 billion JSW Group, continues to demonstrate significant growth and operational achievements in the steel industry.

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