JSW Steel is enhancing its product mix to reduce India`s reliance on coated steel imports with an indigenous Made In India, JSW Magsure. This makes JSW Steel the first and only Indian steel company to manufacture & market a Zinc-Magnesium-Aluminium alloy coated steel product in the domestic market. JSW Steel has patented the unique chemical composition of JSW Magsure. JSW Magsure has significant usage in applications in high corrosive environments. Since 2020, the Indian market for Zinc-Magnesium-Aluminium alloy coated steel has grown more than 6x from approx. 15,000 metric tonnes to approx. 120,000 in FY24. So far the entire market requirement was serviced by imports. During the current fiscal, India`s requirement for Zinc-Magnesium-Aluminium alloy coated steel is expected to double to 2.5 lakh tonnes at a market value of Rs 2,200 crores. This demand will be driven mainly by the renewable energy sector.This special steel is supplied by a handful of global majors using patented technologies. India`s heavy reliance on imports for Zinc-Magnesium-Aluminium alloy coated steel creates significant supply limitations. JSW Steel`s JSW Magsure aims to address the supply limitation by offering an indigenous Made in India product with the shortest delivery timelines. It is expected that improved availability will spur demand for JSW Magsure not only from the domestic renewable energy sector but also from other allied end uses. Besides domestic market, JSW Steel is also exploring significant export opportunities for JSW Magsure in Europe and the Middle East. Powered by Capital Market - Live News

Net profit of JSW Steel declined 64.55% to Rs 1299.00 crore in the quarter ended March 2024 as against Rs 3664.00 crore during the previous quarter ended March 2023. Sales declined 1.51% to Rs 45646.00 crore in the quarter ended March 2024 as against Rs 46346.00 crore during the previous quarter ended March 2023.For the full year,net profit rose 112.64% to Rs 8812.00 crore in the year ended March 2024 as against Rs 4144.00 crore during the previous year ended March 2023. Sales rose 5.46% to Rs 172588.00 crore in the year ended March 2024 as against Rs 163646.00 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales45646.0046346.00 -2 172588.00163646.00 5 OPM %13.2017.11 -16.2611.25 - PBDT4206.006258.00 -33 20963.0012538.00 67 PBT2012.004249.00 -53 12791.005064.00 153 NP1299.003664.00 -65 8812.004144.00 113 Powered by Capital Market - Live News

JSW Steel reported consolidated Crude Steel production for the month of April`24 at 21.21 lakh tonnes, 0.4% higher YoY. Capacity utilisation at Indian Operations stood at 88% for April`24. Iron ore availability constraints from Karnataka mines at Vijayanagar impacted the production volumes. The break-up of production is as below: (lakh tonnes) ParticularsApril 24 April 23  YoY   Indian operations20.55  20.33  1%    JSW Steel USA - Ohio 0.66  0.80  -18%    Consolidated production 21.21  21.13  0.4%  Powered by Capital Market - Live News

JSW Steel has achieved its highest ever annual consolidated crude steel production of 26.43 million tons, with a growth of 9% YoY.Crude Steel production for Q4 FY 24 stood at 6.79 Million tonnes, higher by 3% YoY. Capacity utilisation at Indian Operations level stood at 93% for Q4 FY 24. JSW Steel USA �Ohio reported better volumes on QoQ as well as YoY basis.The Company achieved combined annual production of 26.68 million tonnes against its guidance of 26.34 Million tonnes, which is a 101% achievement.Powered by Capital Market - Live News

JSW Steel announced that its wholly owned subsidiary, JSW Vijayanagar Metallics has successfully commissioned its Hot Strip Mill at its integrated steel plant at Vijaynagar with a capacity of 5 MTPA and has made its first dispatch. The HSM facility has capability of manufacturing plates, coils and is equipped with advanced features such as Digital Reheating Furnaces, Evaporative Cooling System and Waste Heat Recovery System, Attached Edger in Finishing mills for accurate width control, Auto Steering Control, uniform mechanical properties and production of superior value added grades.The HSM facility was lit-up on 17 March 2024, and after successful completion of trial runs and quality & delivery testing, the commercial manufacturing and sales have commenced. Powered by Capital Market - Live News