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Essar Steel India flat steel production up 47% in FY 2016-17

April 04,2017

Mumbai, 4 April 2017: Essar Steel India Limited (EStIL) has substantially improved its performance for the year ended March 31, 2017. The total flat steel production registered a growth of 47%  at 5.6 million tonnes, compared to 3.8 million tonnes in the corresponding period last year. Pellet production also grew by 60% to 9.3 million tonnes compared to 5.8 million tonnes in the same period last year.

Essar Steel India flat steel production up 47% in FY 2016-17

Product

 FY17 production
(in mn tonnes)

 FY16 production
(in mn tonnes)

Growth

Pellets

9.3

5.8

60%

Flat Products

5.6

3.8

47%

The production of value-added steel has risen by 20% to 2.8 million tonnes as against 2.3 million tonnes in the corresponding period of last year.

During Q4 ended March 31, 2017, Essar Steel has recorded a growth of 25% in flat steel production at 1.5 million tonnes as against 1.2 million in the same period last year. The Company has registered a growth of 21% in Pellet production at 2.3 million tonnes compared to1.9 million tonnes in the corresponding period of last year.

Product

Q4 FY17 production
(in mn tonnes)

Q4 FY16 production
(in mn tonnes)

Growth

Pellets

2.3

1.9

21%

Flat Products

1.5

1.2

25%

Commenting on the performance, Dilip Oommen, CEO & MD, Essar Steel said,” We have made a quantum leap in our performance in the last fiscal. The growth clearly reflects the company’s march towards full capacity utilization in the coming years. The value-added component in the product-mix has also jumped significantly. The downstream units are currently operating at capacity levels.

Various measures taken by Ministry of steel and Government of India  in the last  fiscal  led to the performance improvement of the steel sector and there is  a need for continuity of  those measures to ensure steel sector is able to sustain the momentum gained in the last fiscal  and moves forward towards continued growth of the sector and the nation”.

About Essar Steel
Essar Steel India is one of India’s leading integrated steel producers with an annual production capacity of 10 MTPA supported by a 20 MTPA pellet facility. The state-of-the-art facilities comprise iron making, steel making, and downstream facilities, including a cold rolling mill, a galvanizing and pre-coated facility, a steel-processing facility, an extra-wide plate mill and 3 pipe mills with coating facilities.

Essar Steel uses information technology extensively for its operation to ensure consistent quality of its products. It produces over 300 grades of steel conforming to quality standards of international certification agencies like API, ABS, NACE, Lloyd’s Register to name a few. The products, many of which are import substitute products, cater to the requirements of a wide cross section of industries.

Essar Hypermart, a pioneering initiative of Essar Steel, caters to the requirements of the SME segment, which normally does not have access to mill material directly.
Sustainability has been given due importance and the company is on course to becoming a zero-waste company.

Media Contact:
B.Ganesh Pai, VP - Corporate Communications, Essar Steel, +91 98197 30225, ganesh.pai@essar.com


 


 

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