ArcelorMittal and Nippon Steel India records 50% jump in EBITDA

31 Jul 2021 CW Team

ArcelorMittal and Nippon Steel India (AM/NS India) recorded 50% higher earnings before interest, taxes, depreciation, and amortisation (EBITDA) quarter-on-quarter (QoQ) and 450% year-on-year (YoY) to $607 million in the quarter ended June 30, 2021, on the back of strong global demand and the recent resurgence in the domestic market.

The EBITDA in Q1 2021 was $403 million.

While announcing earnings for the quarter the company said that Q2 2021 crude steel production of the company remained stable at 1.8 million tonnes (mt) despite the Covid-19 pandemic.

AM/NS India said that the business noticed encouraging signs of domestic demand revival, particularly from the automotive, white goods, and infrastructure sectors, towards the end of the quarter.

The annualised production of AM/NS India remained unchanged from Q1 2021, at 7.3 mt.

As part of ArcelorMittal’s earnings in the quarter, AM/NS India numbers were released. The global steel major reported $5.1 billion EBITDA in Q2 2021, its strongest quarter since 2008, as steel costs surged to a record high; it was 55.8% costlier than in Q1 2021. It was at $707 million in the prior-year period.

Aditya Mittal, CEO, ArcelorMittal, said that a continued strong recovery has been witnessed, in the second quarter alongside a sustained lean inventory environment.

Mittal further expects the demand outlook to increase further in the second half.

The company said that in Q2 2021, the share of the joint venture (JV) and associates net income increased to $0.6 billion, indicating maintained strong performance at AMNS India and AMNS Calvert.

Image Source

Also read: ArcelorMittal signs €1 bn MoU with Spain for decarbonisation tech

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..