JSW Steel, a prominent player in India's steel sector, has disclosed its consolidated crude steel production figures for the first quarter of FY 2024-25, amounting to 6.35 million metric tons. This marks a marginal 1% decline year-on-year and a notable 6% decrease compared to the previous quarter. The dip in production can largely be attributed to scheduled maintenance shutdowns aimed at enhancing operational efficiency and infrastructure reliability.
Within its Indian operations, JSW Steel recorded a production volume of 6.12 million metric tons during Q1 FY25, down by 6% from the preceding quarter's 6.54 million metric tons and marginally lower by 1% compared to Q1 FY24's 6.19 million metric tons. This performance underscores the strategic adjustments made by the company to optimize production capabilities amidst evolving market dynamics and operational exigencies.
In addition to its domestic operations, JSW Steel's overseas venture, JSW Steel USA - Ohio, contributed 0.23 million metric tons to the consolidated production for Q1 FY25, maintaining operational consistency compared to both the previous quarter and the same period last year, highlighting stable international operations amid global economic uncertainties.
The consolidation of JSW Ispat Special Products Ltd, effective from July 31, 2023, added a production volume of 0.18 million metric tons to the company's portfolio, further enriching its operational footprint and enhancing its competitive edge in specialized steel products.
Despite the temporary decline in consolidated production figures, JSW Steel maintained a robust capacity utilization rate of 87% across its Indian operations during Q1 FY25. This metric reflects the company's strategic commitment to optimizing production efficiencies and meeting market demands amidst fluctuating global economic conditions and regulatory landscapes.
