JSW Steel’s consolidated net profit, at Rs 3,664 crore in Q4FY23, was led by additional volumes from its ongoing expansion. In a conversation, Jayant Acharya, the newly appointed Joint Managing Director and Chief Executive Officer of the company, tells Ishita Ayan Dutt that by FY25 the company would be adding 10 million tonnes (mt) of capacity and as that gets completed, the next leg of expansion to 50 mt would be taken up. Edited excerpts:
JSW Steel’s performance in Q4FY23 was ahead of Street expectations. What is the outlook for FY24?
Our volume numbers in Q4 have been the main performance driver. We have done very well in terms of crude steel production across Indian locations and even in Ohio, USA. The subsidiaries have done very well from an Ebitda standpoint–Ohio did not breakeven, but it reduced its losses; Baytown (Texas) did quite well and in Italy, we got rail orders.
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