As life slowly yet steadily inches back to normal, construction, pipeline and other project works is also picking up momentum. VR Sharma, Managing Director at Jindal Steel & Power Ltd said, “Almost all of the consuming sectors like auto, pipeline projects, ship-building, vehicles and construction have picked up for us since October. We feel that the demand will continue.” Check out SURFACES REPORTER (SR)'s report on this:
Also Read: Cement and Steel May See Boost in Demand in Second Half of FY21
The better growth sales may increase margins and growth outlook for the enterprises in these sectors, which are benefiting from a quicker-than-expected pickup in construction, rural consumption and a visible sales revival in the automotive industry.
According to Jindal Steel and Power (JSPL) managing director VR Sharma, “the demand for steel and cement has reached pre-Covid levels. And the quarter 3 will be the best quarters for steel companies as it is expected that the sales will be at least 7-8% higher than the normal consumption levels whereas quarter 4 will be 10 % more profitable than the last year.”
JSPL is one of the top steel and energy companies in Hisar, India having dominant presence in Steel Industries, Power Generation & Mining. JSPL is a part of diversified Jindal Group conglomerate and has a turnover of approx. Rs 40000 crore.
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