Synopsis: India is set to introduce a National Stainless Steel Policy in early 2024, as confirmed by industry and government insiders. This policy aims to chart
Jindal Stainless Ltd expects its exports to improve from the March quarter onwards, with more orders coming in from clients in the US and Europe. The company s exports fell to 13% of total sales in the September quarter, down from 17% in the previous quarter. Jindal Stainless is also exploring new markets such as South Korea, the Middle East, and South America. The company s consolidated net profit more than doubled to ₹764 crore in the September quarter, driven by strong demand in the domestic market.
The stainless steel major witnessed a remarkable 120 percent surge in its consolidated net profit, reaching Rs 764 crore in the quarter ending September FY24.
During the September quarter, the company’s earnings before interest, taxes, depreciation, and amortisation was at Rs 1,231 crore, up by 80 per cent y-o-y.