Jindal Steel records whopping Sales & Production of over a Million Tonne in Q4 of FY16

Jindal Steel & Power Ltd in a Press Release dated 1^st April 2016 has informed bourses, its record Sales & Production volumes of over a Million Tonne in Q4 of FY16. This was due to focused decision to fully utilize their built up capacities and boost production. Jindal Steel has achieved more than 4 million tonne of Steel production & sales for FY16. For the first time Q4 FY16 marked both Consolidated production & Sales of more than a million tonne in a single quarter.

Jindal Steel Standalone

For Q4 FY16, steel sales grew by 37% since last quarter at 1.0MT (0.74MT in Q3 FY16) while production was at 0.97MT vs 0.78MT in 3QFY16 (up 24% QoQ). Last year in Q4 FY15, sales were at 0.78MT and production stood at 0.88MT. Jindal Steel’s Angul Plant in Odisha has shown a steady growth with nearly double production in the current financial year from 0.46 MT in FY15 to 0.9MT in FY16.

TMT rebar sales in Q4 of FY16 under the brand “Panther” grew by 38% over 3rd quarter of FY16 as well as Q4 of FY15 and crossed 0.27MT mark in Q4 of FY16. For the year FY16, rebar sales grew by 42% to 0.86MT (compared to 0.60MT in FY15). The company’s Steel Sales for FY16 stood at 3.3MT up 15% YoY (2.9MT in FY15) while Production stood at 3.5MT up 10% YoY (3.2MT in FY15).

Jindal Steel Shadeed, Oman

The progressive ramp up continued in Oman too with the Company's Steel Melting Shop (SMS) facility doubling its production in FY16 as compared to previous Financial Year 14-15. The production in Oman was 1.05MT (up 111% YoY) and Sales stood at 1.08 (up 120% YoY) for FY16. Last year, in FY15, Production and Sales were 0.5MT.

For the Q4 FY16, Oman sold 0.40 MT of Steel (up 64% QoQ) compared to 0.25MT in Q3 FY16. Production for Q4 FY16 stood at 0.35MT compared to 0.29MT last quarter Q3 in FY16.

Jindal Steel Consolidated

The Consolidated Steel Sales of the Company in FY16 stood at 4.4MT up by 30% YoY (3.4MT in FY15) while Production stood at 4.5MT up 24% YoY (3.7MT in FY15).

This significant increase in sales and production indicates Jindal Steel’s ability to utilise opportunities arising out of increased demand in the fourth quarter of Financial Year 2015-16. Taking cues from the mind blowing performance by Jindal Steel & Power Ltd (JSPL), Jindal Steel Share price was seen closing at Rs. 63.20, up by 2.95 points (4.90 per cent) on Friday 1^st April 2016.

To know more about the Fundamental Analysis and Technical Levels of Jindal Steel & Power Ltd visit https://www.dynamiclevels.com/en/jindal-steel-share-price-forecast