India: JSPL posts record high production volume in FY '21

Snapshot of JSPL's performance in FY '21 is as follows-

• In FY '21 JSPL's, production (incl. pig iron) increased by 19% y-o-y to hit a record of 7.51 mn t (vs 6.30 mn t in FY '20) while Standalone Steel (incl. pig iron) sales also reached the highest ever level of 7.28 mn t (up 20% y-o-y).
• Better export markets during the year resulted in JSPL exports rising by 226% to 2.53mn t in FY '21, accounting for 35% of the overall sales (vs. 13% in FY '20).
• Improving prices, higher volumes and better cost efficiencies have resulted in JSPL's EBITDA hitting a record of INR 13,055 Cr. Record operating profit and declining interest expense have contributed in JSPL net profit reaching the highest ever level of INR 7,154 Cr in FY '21.