JSW Steel expects margins to improve in FY25 on cooling input costs: Joint MD
₹24,541 crore in January-March, against ₹23,905 crore in the same period of FY23. The company’s consolidated Ebitda, or earnings before interest, tax, depreciation, and amortization, dropped 15% sequentially to ₹6,124 crore. Its operating margin stood at 13.2% during the quarter.
Imports from China, though, remain a cause for concern, given their demand is poised to remain flat while global demand is expected to increase by 30 million tonnes (mt). About 35-40% of this increased demand is likely to come from India, Acharya said. “India is growing at a faster rate than other economies and we have witnessed Chinese exports going up overall in the world this year also.
We remain concerned about the imports coming into the country. Last year, these imports from China went up by 93% and stood at about 2.7 million tonnes," he added. The company continues to closely monitor the imports coming into the country and has urged the authorities to keep a close watch as well, not just on China but also other Asean countries, with whom India has a free trade agreement (FTA).
The company plans to maintain its share of exports as a proportion of the total sales volume at 12-15%. “The European market has bottomed out, the US has some barriers in place, but the Middle East and other areas will continue to show dramatic growth in infrastructure manufacturing and so our focus remains optimistic as we continue to tap the available opportunities," he added. Exports during FY24 accounted for 13% of the total sales volume of 24.8 mt.
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