JSW Steel to invest Rs 20k cr in capex this FY

30 May 2022 CW Team

The fresh capex consists of Rs 18,000 crore investment in JSW Steel and Rs 2,000 crore in Bhushan Power and Steel. The company plans to spend Rs 18,000 crore to increase capacity to 36 million tonnes (mt), from 26 mt, despite moderation in demand due to a hike in interest rate. The 10 mt capacity will be added by March 2024.

Joint Managing Director of JSW Steel, Seshagiri Rao, told the media that the company would not reduce capex spending despite moderation in demand or a fall in prices due to the export levy.

Rao said that the company had cut its planned capex of Rs 18,240 crore to Rs 14,198 crore last FY due to the second wave of the Covid-19 pandemic.

The company suggests producing 25 mt of steel and selling 24 mt this FY. Despite export duty, Rao expects shipments to be at 4.5 mt. The government had imposed an export duty of 15% on steel products to bring down increasing domestic prices.

In a bid to lower production costs, the government waived off customs duty on the import of some raw materials, including coking coal and ferronickel.

Rao said that steel prices have dropped by 10% in the last few days due to the trend in the international market on the back of a drop in raw material prices.

He said that markets had given too much weightage to the export duty, negatively impacting the steel sector. The government has also increased the export duty on iron ore from 30% to 50%, which will reduce costs substantially.

He added that steel demand in the March quarter might have fallen compared to the same period last year, but sequentially it is up 7%, indicating robust demand with government spending.

Image Source

Also read: JSW Steel's planned growth is equal to capacities in last 20 years

JSW Steel has planned to invest Rs 20,000 crore in capital expenditure (capex) this financial year (FY) and does not expect the new export duty to impact its sales and output or reduce capacity utilisation. The fresh capex consists of Rs 18,000 crore investment in JSW Steel and Rs 2,000 crore in Bhushan Power and Steel. The company plans to spend Rs 18,000 crore to increase capacity to 36 million tonnes (mt), from 26 mt, despite moderation in demand due to a hike in interest rate. The 10 mt capacity will be added by March 2024. Joint Managing Director of JSW Steel, Seshagiri Rao, told the media that the company would not reduce capex spending despite moderation in demand or a fall in prices due to the export levy. Rao said that the company had cut its planned capex of Rs 18,240 crore to Rs 14,198 crore last FY due to the second wave of the Covid-19 pandemic. The company suggests producing 25 mt of steel and selling 24 mt this FY. Despite export duty, Rao expects shipments to be at 4.5 mt. The government had imposed an export duty of 15% on steel products to bring down increasing domestic prices. In a bid to lower production costs, the government waived off customs duty on the import of some raw materials, including coking coal and ferronickel. Rao said that steel prices have dropped by 10% in the last few days due to the trend in the international market on the back of a drop in raw material prices. He said that markets had given too much weightage to the export duty, negatively impacting the steel sector. The government has also increased the export duty on iron ore from 30% to 50%, which will reduce costs substantially. He added that steel demand in the March quarter might have fallen compared to the same period last year, but sequentially it is up 7%, indicating robust demand with government spending. Image Source Also read: JSW Steel's planned growth is equal to capacities in last 20 years

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

Infrastructure Urban

11 May 2026

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Infrastructure Urban

11 May 2026

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..