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Post-poll pickup in capex will drive steel demand: JSW Steel CEO

Money Control · 1y

JSW Steel, a steel manufacturing company in India, predicts a strong domestic demand for steel after the elections. JSW Steel plans to spend INR 20,000 crore to increase its capacity to 50 million tonnes by 2031. The company expects to finance this expansion through internal cash generation and has no plans for an equity issue. Despite a decline in net profit in Q4 due to higher coking coal prices and weaker steel prices, JSW Steel remains optimistic, as it expects a correction in raw material prices and anticipates strong steel demand in India.