Marginal growth in demand expected in 2023: JSW Steel's Seshagiri Rao

The world economy is not growing in a robust manner so I don't expect a big turnaround in steel demand as seen in 2021, says Rao

Ishita Ayan Dutt
Seshagiri Rao, Joint MD, JSW Steel & Group CFO

Seshagiri Rao, joint managing director and group chief financial officer, JSW Steel

JSW Steel reported an 88.75 per cent year-on-year drop in consolidated net profit in the third quarter of the financial year on the back of higher input cost and lower selling price. In an interview, Seshagiri Rao, joint managing director and group chief financial officer, JSW Steel, tells Ishita Ayan Dutt that domestic demand is strong and there are triggers for revival in sentiments from China in Q4 but a stubborn inflation in many economies may prevent any major growth in world steel demand. Edited excerpts:
Domestic demand is strong but a mild recession is expected in major global economies in 2023. Given the backdrop, what is the outlook for Q4FY23?
As far as India is concerned, we are definitely seeing strong demand acceleration over Q3. The auto sector will do much better in Q4 because production is generally subdued in December and we are expecting much more infrastruc

Also Read

Export opportunities limited right now: JSW Steel's Seshagiri Rao

Financial results in H2FY23 will be better than first half: JSW Steel's Rao

JSW sets ambitious goals for e-commerce business, eyes $20-bn GMV by FY32

JSW Energy unit to buy Mytrah Energy's renewable assets for Rs 10,530 cr

JSW Energy targets 10 GW capacity by FY25, acquisitions to fuel growth

Adani to unlock value in airports, data centres in future, says group CFO

Facebook co-founder's investment fund closes third series at $2.1 bn

Can help Indian govt replicate digital public goods in other EMs: IBM CEO

Ceat is planning to invest in off-highway tyres segment: Anant Goenka

IT may turn the corner, banks' outperformance to continue: ABSL AMC CEO

First Published: Jan 22 2023 | 2:17 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to