JSW Steel downgrades sales projections for fiscal

India’s largest private steel producer, JSW Steel, has revised it’s volume projection downwards for the present financial year.

| Sep 27, 2010, 09.04 PM IST

India’s largest private steel producer, JSW Steel, has revised it’s volume projection downwards for the present financial year. “We will be able to grow by 9-10% this fiscal”Sheshagiri Rao, Joint MD and Group CFO of JSW Steel said. Earlier, the Sajjan Jindal promoted company had targeted a growth of 18% in sales volumes compared to the last fiscal.

The downward revision is on the back of “moderation of production in Q1FY11 due to various international factors” Sheshagiri Rao said.

JSW Steel is now expected to produce crude steel to the tune of 6.5 million tones compared to 7 million tones projected earlier. In the last fiscal, the company produced 6 million tones of steel.

In terms of sales volumes the company is expected to achieve a volume of 6.25 million tonnes compared to 6.75 million tonnes projected earlier. Last year the sales volumes stood at 5.75 million tonnes.

Start a SIP with as low as ₹500 with ET Money App!