Jindal Stainless (Hisar) (JSHL) registered a total sales volume of 7,02,168 MT in FY22, rising 22% as compared to FY21 while Q4 FY22 sales volume remained stable at 1,78,784 metric tonnes (MT).
Domestic demand rose across segments like railways, lifts and elevators. However, an increase in raw material prices led to channel de-stocking in key consumer facing segments like hollowware and pipe and tubes. Moreover, substandard stainless steel products from China and Indonesia continued to flood the domestic market.
JSHL maintained its focus on niche product segments and maintained a healthy product mix. Riding on its globally accepted quality products and a robust supply chain, the company more than doubled its exports which stood at 18% in Q4 FY22 despite high volatility in global markets.
JSHL is an integrated stainless steel plant with a melting capacity of 8,00,000 tonnes per annum. It is also the world's largest producer of stainless steel strips for razor blades and India's largest producer of coin blanks, serving the needs of Indian and international mints. Its specialty product division caters to the high-end precision and specialty stainless steel requirements of reputed Indian and international customers.
Shares of Jindal Stainless (Hisar) rose 0.25% to Rs 383.90 on BSE. On a consolidated basis, JSHL's net profit rose 90.58% to Rs 513.68 crore on 32.63% rise in net sales to Rs 4173.43 crore in Q3 December 2021 over Q3 December 2020.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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