In line with steady economic growth in the country, the total sales volume of Jindal Stainless (Hisar) Limited for Q3FY18 crossed 1,89,000T, representing an increase of 8% over corresponding period last year (CPLY). With an increase in raw material prices over the last few quarters, and consequent increase in stainless steel prices, total net revenue during the quarter touched Rs 2,439 crore, registering a 35% growth over CPLY. The company posted profit after tax of Rs 134 crore, up by 143% compared to CPLY. The net worth of the company as on December 31, 2017 was Rs 1,160 crore.
The lifestyle subsidiary of JSHL, JSL Lifestyle Limited; and the service centre subsidiary, Jindal Stainless Steelway Limited, also registered a y-o-y EBIDTA growth of 56% and 79% respectively. The Company remained steadfast in its drive to increase the penetration of stainless steel among end consumers by training local fabricators in making stainless steel products. JSHL organized road shows in residential colonies to build awareness on multiple benefits of using stainless steel products.
The ABC (architecture, building, construction) and ART (automotive, railway and transport) sectors continued to be the main demand drivers of stainless steel.