An expenditure of Rs 18,832 crore (on gross basis) has been incurred till June, 2018," Sai added.
Production and sales for JSW Steel Coated Products stood at 0.43mn tonnes each. Revenue and EBITDA for the quarter stood at INR 3,031 crore and INR 122 crore respectively. Margin for coated products was impacted by higher raw material prices.
Jindal Mining SA’s main business is coal production at the Kiepersol mine, according to one of the documents. Business-rescue practitioners for the unit have scheduled a meeting with creditors for June 26.
JSW Steel had earlier announced a $1 billion investment to modernise its two manufacturing facilities in Texas and Ohio.
Strong operational performance in the first two months of Q1FY19 along with firm steel prices indicate that JSW Steel could see ~6% qoq topline growth in Q1FY19. However, June 2018 would see subdued operational performance as the advent of the monsoon would impact operations.
Steel production capacity has increased from 110 MT in 2014-15 to 134 MT in 2017-18, while 7 MT was added in 2017 alone.
The government also revised trade data going back to 2010. Economists polled by Reuters had forecast the trade deficit unchanged at $49 billion in April.
Vedanta has deposited Rs 5,320 crore in an escrow account of ESL for 90 per cent equity in the bankrupt alloy maker. This is the second successful resolution of a stressed steel asset after Tata Steel acquired Bhushan Steel.
The company’s net turnover rose 34% in Q4 FY18 to Rs 16,811 crore from year ago.
Steel production fell 0.07% from March to April, totaling 148.3 million mt, with declines in most of the largest steelmaking nations – with one important exception.
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