JSW Steel, belonging to the JSW Group, part of the OP Jindal Group, is one of the lowest cost steel producers in the world. It is also one of the largest producers and exporters of coated flat products in the country, with a presence in over 100 countries across five continents.
¨Adaptability and responsiveness to challenges helped the company grow last year,¨ shares Seshagiri Rao, Joint Managing Director & Group CFO, JSW Group. ¨When domestic demand for steel remained subdued, we recalibrated our strategy and focused on ramping up exports. Supplies to high-demand regions such as Asia, Middle East, Europe and the US helped us reach over 100 countries.¨ Indeed, JSW Steel has exhibited growth in volumes and profitability owing to speed of decision-making and execution, geographical mix, dynamic product mix, leveraging of technology and efficient operations.
Foresight too has played a major role. An investment of nearly Rs 1,000 crore in a beneficiation plant in Vijayanagar five years ago - before the Supreme Court´s ban on mining in Karnataka - enabled the company to use low-grade ore available in e-auctions. Going forward, Rao expects the strong balance sheet to accelerate growth to achieve a capacity of 40 mtpa by 2025 and increase backward integration.