JSW Steel rose 0.62% to Rs 679.50 at 14:19 IST on BSE after the company reported decent crude steel production data for Q4 March 2013 and the year ended 31 March 2013.
JSW Steel reported crude steel production data for Q4 March 2013 and the year ended 31 March 2013 (FY 2013) during market hours today, 8 April 2013.
Meanwhile, the BSE Sensex was up 18.22 points, or 0.1%, to 18,468.45
On BSE, 91,506 shares were traded in the counter as against an average daily volume of 1.80 lakh shares in the past one quarter.
The stock hit a high of Rs 689.95 and a low of Rs 668.25 so far during the day. The stock had hit a 52-week high of Rs 893.75 on 29 January 2013. The stock had hit a 52-week low of Rs 566 on 24 May 2012.
The stock had underperformed the market over the past one month till 5 April 2013, sliding 7.15% compared with the Sensex's 3.62% fall. The scrip had also underperformed the market in past one quarter, declining 18.3% as against Sensex's 6.74% fall.
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The large-cap company has an equity capital of Rs 223.12 crore. Face value per share is Rs 10.
JSW Steel's crude steel production rose 2% to 2.109 million tonne in Q4 March 2013 over Q4 March 2012. The production of flat rolled products rose 11% to 1.65 million tonne in Q4 March 2013 over Q4 March 2012. The production of long rolled products fell 6% to 0.438 million tonne in Q4 March 2013 over Q4 March 2012.
The crude steel production rose 15% to 8.518 million tonne in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). The production of flat rolled products rose 17% to 6.282 million tonne in FY 2013 over FY 2012. The production of long rolled products rose 18% to 1.801 million tonne in FY 2013 over FY 2012.
JSW Steel said in spite of severe constraints in availability and quality of iron ore in the state of Karnataka, the company could operate its Vijayanagar plant at about 80% capacity due to its unique ability of using low grade iron ore through beneficiation process.
JSW Steel reported consolidated net loss of Rs 73.70 crore for Q3 December 2012, higher than net loss of Rs 47.89 crore in Q3 December 2011. Consolidated net sales rose 5.5% to Rs 8866.20 crore Q3 December 2012 over Q3 December 2011.
JSW Steel said net loss in Q3 December 2012 was primarily due to losses reported by associate company viz. JSW Ispat Steel. JSW Steel's operating earnings before interest, taxation, depreciation and amortization (EBITDA) rose 1% to Rs 1331 crore in Q3 December 2012 over Q3 December 2011.
JSW Ispat Steel reported operating EBIDTA of Rs 246 crore and net loss of Rs 131 crore in Q3 December 2012 after considering foreign exchange loss of Rs 83 crore on restatement of foreign currency monetary items which was considered by the company as an exceptional item.
Since the realization for all steel products fell sharply in the US in Q3 December 2012, JSW Steel's US plate and pipe mill operation incurred operating EBITDA loss of $0.76 million during the quarter, JSW Steel said in a statement.
JSW Steel is engaged in manufacture of flat and long products viz. H R Coils, C R Coils, Galvanised/Galvalume products, Colour Coated Products, auto grade / white goods grade CRCA Steel, Bars and Rods. JSW Steel is one of the largest galvanizing and colour coating production capacity in the country and is the largest exporter of galvanized products with presence in over 100 countries across five continents.
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