JSW Steel reported a strong set of numbers with the best-ever earnings before interest, tax and depreciation on the back of an unprecedented rise in steel prices and healthy margin. The company’s joint managing director and group CFO Seshagiri Rao, however, tells the author that further rise in prices is unlikely even as the fourth quarter will be even better. He also does not expect the budget to lower the import duty on steel. An excerpt:
Steel industry and JSW in particular posted great numbers in the third quarter. Is it sustainable?
Well, there are four aspects to it: demand sustainability, supply improvement, prices and margin.
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