The Sajjan Jindal-led company had produced 13.43 LT crude steel in October 2017
The plant is expected to be completed by March 2020
Expansions, acquisitions and backward integration to drive future earnings
Increased volume sales, better realisation lend strong support to bottomline
Its total consolidated revenue from operations in the quarter under review was Rs 215.52 billion, compared with Rs 172.40 billion in the same quarter last year
After the acquisition, DMMPL has become a wholly owned subsidiary of JSW Steel, which along with its nominees now holds 100 per cent of the issued and paid-up equity share capital
'JSW Steel is exploring differentiated financing options, including joint control model, to fund its acquisition of stressed assets of Bhushan Power and Steel'
The government is looking to put on block over 100 mines in the next six months, according to the ministry
Under the joint control model, a special purpose vehicle (SPV) will be set up and the acquired stressed assets will rest with the SPV
JSW Steel is a leading integrated steel company in India with an installed steel-making capacity of 18 MTPA
JSW Steel has pledged Rs 550 billion investment on the mega steel plant and attendant infrastructure - a captive power plant, a slurry pipeline and pellet unit
JSW Steel has very strong financials and substantial cash generation, says Seshgiri Rao
JSW Steel and its promoters have acquired around 88 per cent stake in the Monnet Ispat and Energy Ltd (MIEL) following completion of the insolvency resolution proceedings, MIEL said Tuesday. The National Company Law Tribunal (NCLT) had earlier approved a Rs 2,875-crore bid by a consortium of Aion Investments and JSW Steel to acquire the bankrupt Monnet Ispat & Energy, which owes over Rs 11,000 crore to a clutch of lenders. The Aion-JSW consortium was the sole bidder for the 1.5-million-tonne asset in Chhattisgrah. According to a filing by MIEL, JSW Steel Ltd, Crexient Special Steel Ltd, JTPM Atsali Ltd, AION Investments Private II Limited and JSW Techno Projects Management Ltd have been allotted around 87.52 crore equity shares and compulsorily convertible preference shares representing 87.91 per cent shareholding of the company. MIEL had recently said the insolvency resolution plan approved by NCLT was completed under which JSW Steel provided a working capital advance of Rs 125 .
The main drivers are the company's captive mines in the state coming on stream and a partial correction in the NMDC price
Backward integration, brownfield expansions and buys will improve topline, margins
The company is planning to spend around Rs 430 billion in the next three years in these expansions, besides downstream facilities.
The steel producer had curtailed its off take from the state-owned miner due to quality issues
The stock hit a new high of Rs 409, up 2%, extending its Wednesday's 9% surged on the National Stock Exchange , after the announcement of its entry in Nifty 50 index from September 28.
At 11:54 am, JSW Steel was trading at Rs 391.85, up 7% on the NSE. In comparison, the benchmark Nifty 50 index was at 11,728, down 0.1%.
The inclusion of JSW Steel is expected to boost the steelmaker's stock, given that several exchange-traded funds (ETFs) track the Nifty index