Jindal Stainless Limited H1FY19 revenue surges by 35%

Jindal Stainless Limited H1FY19 revenue surges by 35%

Jindal Stainless Limited H1FY19 revenue surges by 35% Print Date Publication Edition Headline Delhi, Mumbai, 27-10-2018 Hindu Business Line Jindal Stainless Kolkata 27-10-2018 Financial Express All editions Jindal Stainless Q2 loss at Rs.36.44cr 27-10-2018 Business (Hindi) Standard Delhi, Mumbai, Kolkata Jindal Stainless reports Rs.36cr loss 27-10-2018 Rashtriya Sahara Delhi Jindal Stainless reports loss 27-10-2018 Andhra Jyothy Hyderabad Jindal Stainless 27-10-2018 Andhra Prabha Hyderabad Rs.36cr loss for JSL Online Date Headline 27-10-2018 Reuters.com India's Jindal Stainless hits 21-mth low on Q2 loss 27-10-2018 Business-standard.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Thehindubusinessline.com Jindal Stainless reports 36.44cr loss 27-10-2018 Timesofindia.indiatimes.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Businesstoday.in Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Moneycontrol.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Outlookindia.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Equitybulls.com Jindal Stainless Ltd Q2 loss at Rs. 36.44 crores 27-10-2018 Equitybulls.com Jindal Stainless Limited H1FY19 revenue surges by 35% 27-10-2018 India.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Thequint.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Cogencis.com Jindal Stainless posts 364-mln-rupee net loss Jul-Sep vs PAT yr ago 27-10-2018 Investing.com India's Jindal Stainless Posts Sept-Qtr Loss 27-10-2018 Devdiscourse.com Jindal Stainless Q2 loss at Rs.36cr 27-10-2018 Dailyhunt.in Jindal Stainless revenue increases by 18% 27-10-2018 Ibn7.in Jindal Stainless revenue increases by 18% 27-10-2018 Thequint.com Jindal Stainless revenue increases by 18% 27-10-2018 Khaskhabar.com Jindal Stainless revenue increases by 18% 27-10-2018 Vishvatimes.com Jindal Stainless revenue increases by 18% 27-10-2018 Myequity.co.in Jindal Stainless Limited H1FY19 revenue surges by 35%

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Publication Hindu Business Line Page No. Pg-16

Publication Financial Express Page No. 06

Publication Business Standard(Hindi) Page No. 02

Publication Rashtriya Shara Page No. 15

Date 27-10-18 Publication Andhrajyothy Page No. 12

Date 27-10-18 Publication Andhraprabha Page No. 06

Online

https://in.reuters.com Weblink: https://in.reuters.com/article/buzz-indias-jindal-stainless-hits-21-mth/buzz-indias-jindal-stainless-hits-21-mthlow-on-q2-loss-idinl3n1x91yp Jindal Stainless hits 21-mnth low on Q2 loss Jindal Stainless Ltd drops 9.9 pct to 46.05 rupees, its lowest since Jan 30, 2017 ** Stainless steel maker posted a Q2 loss of 364.4 mln rupees on Friday, compared with a profit of 273 mln rupees last year SPONSORED ** Results were hurt by a one-time loss of 531.6 mln rupees due to mark-to-market forex losses, co said ** Stock marks sharpest intraday pct fall in over 4 weeks ** Up to last close, stock down 51 pct this year

www.business-standard.com Weblink: https://www.business-standard.com/article/pti-stories/jindal-stainless-q2-loss-at-rs-36-cr- 118102601111_1.html Jindal Stainless Q2 loss at Rs 36 Cr. JSL Friday reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. "Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. "Our focus is to increase annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets...having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19," Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. "These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 per cent and 22 per cent respectively, as compared to the year-ago periods," the statement said..

www.thehindubusinessline.com Weblink: https://www.thehindubusinessline.com/companies/jindal-stainless-reports-3644-cr-loss/article25338583.ece Jindal Stainless reports Rs36.44 Cr loss Jindal Stainless Limited has reported a 36.44 crore loss for the second quarter of financial year 2018-19. The company had reported a profit of 27.30 crore in the corresponding quarter of last fiscal. The reported loss is despite a reported tax gain of 15.27 crore in the quarter under consideration. Jindal Stainless has also reported a 53.16 crore exceptional loss during this quarter. Total income for the quarter under review stood at 3,089 crore ( 2,622 crore). A company statement said, Exceptional loss of 53 crore, primarily on account on mark -to-market forex loss, resulted in a net loss of 36 cr ore in the second quarter of financial year 2018-19. Production volume dipped from 0.26 million tonnes to 0.2 million as a result of planned maintenance shut-down. The company said that it is has become eligible to exit from the Corporate Debt Restructuring Scheme (CDR) by the end of this fiscal. Analysts feel that the accounting of recompense liability to lenders may be a precursor to the company coming out of the CDR. Our Q2 results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. Our focus is to increase the annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets, Abhyuday Jindal, Managing Director, JSL, said.

www.thetimesofindia.com Weblink: https://timesofindia.indiatimes.com/business/india-business/jindal-stainless-q2-loss-at-rs-36- cr/articleshow/66380449.cms Jindal Stainless Q2 loss at Rs36 cr New Delhi, Oct 26 () Jindal Stainless Ltd (JSL) Friday reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. "Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. "Our focus is to increase annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets...having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19," Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. "These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 per cent and 22 per cent respectively, as compared to the year-ago periods," the statement said. SID SID ANU ANU

www.businesstoday.in Weblink: https://www.businesstoday.in/pti-feed/jindal-stainless-q2-loss-at-rs-36-cr/story/286680.html Jindal Stainless Q2 loss at Rs 36 cr New Delhi, Oct 26 (PTI) Jindal Stainless Ltd (JSL) Friday reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. "Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. "Our focus is to increase annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets...having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19," Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. "These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 per cent and 22 per cent respectively, as compared to the year-ago periods," the statement said. PTI SID SID ANU ANU

www.moneycontrol.com Weblink: https://www.moneycontrol.com/news/business/markets/jindal-stainless-q2-loss-at-rs-36-cr-3093131.html Jindal Stainless loss at Rs 36 Cr (JSL) reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. "Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. Our focus is to increase annual production by 15 percent in the next two years to cater to the growing needs of domestic markets...having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19," Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. "These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 percent and 22 percent respectively, as compared to the year-ago periods," the statement said.

www.outlookindia.com Weblink: https://www.outlookindia.com/newsscroll/jindal-stainless-q2-loss-at-rs-36-cr/1410175 Jindal Stainless loss at Rs 36 Cr New Delhi, Oct 26 Jindal Stainless Ltd (JSL) Friday reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. "Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. "Our focus is to increase annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets...having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19," Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. "These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 per cent and 22 per cent respectively, as compared to the year-ago periods," the statement said. SID

www.equitybulls.com Weblink: https://www.equitybulls.com/admin/news2006/news_det.asp?id=237888 Jindal Stainless ltd Q2 loss at rs 36.44 crores JINDAL STAINLESS LTD. has reported financial results for the period ended September 30, 2018. The company has reported net sales of Rs.3088.55 crores during the period ended September 30, 2018 as compared to Rs.2622.18 crores during the period ended September 30, 2017. The company has posted net loss of Rs.(36.44) crores for the period ended September 30, 2018 as against net profit of Rs.27.30 crores for the period ended September 30, 2017. The company has reported EPS of Rs.(0.76) for the period ended September 30, 2018 as compared to Rs.0.57 for the period ended September 30, 2017. The company has reported net sales of Rs.6241.08 crores during the 6 months period ended September 30, 2018 as compared to Rs.4826.04 crores during the 6 months period ended September 30, 2017. The company has posted net profit of Rs.54.41 crores for the 6 months period ended September 30, 2018 as against Rs.68.80 crores for the 6 months period ended September 30, 2017. The company has reported EPS of Rs.1.14 for the 6 months period ended September 30, 2018 as compared to Rs.1.46 for the 6 months period ended September 30, 2017.

www.equitybulls.com Weblink: https://www.equitybulls.com/admin/news2006/news_det.asp?id=237907 Jindal Stainless limited H1FY19 revenue surges by 35% The Board of Directors of Jindal Stainless Limited (JSL) took on record the unaudited financial results of the company here today. The revenue of the company continued to grow both on a quarterly and half-yearly basis, by 18% and 35% over corresponding period last year (CPLY) respectively. The company built up inventory in Q1 to support a planned maintenance shutdown in Q2. This, along with steep hike in nickel prices during Q1, impacted sales of finished inventory in Q2, thereby causing inventory losses. These factors slowed down the overall EBIDTA for Q2FY19. The production volumes for Q2 and H1 FY19 stood at 0.2 MT and 0.46 MT, registering a respective increase of 2% and 22% over CPLY. This was in tune with the company's target to increase its annual capacity from the present level of 0.8 MT to 1.1 MT by the end of FY19. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, "Our Q2 results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. Our focus is to increase annual production by 15% in the next two years to cater to the growing needs of domestic markets. Our product mix is well distributed among different segments, and all of them are showing a healthy growth rate. Besides, we are increasingly moving towards more value added products in railways, automobiles, and other sectors. We are also increasing our presence in the ferretic segment, which will balance the impact of raw material price volatility. This portfolio enhancement, clubbed with gradually growing demand, will help in improved operating performance going forward." Having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of FY19. The global stainless steel industry remained under pressure due to persisting trade wars and currency volatility. Protectionist measures initiated by US and EU have further necessitated affirmative action by Indian government. The route of Free Trade Agreements (FTAs) continued to be used as a mechanism to circumvent Countervailing Duty and Anti- Dumping Duty imposed by Indian government to safeguard home industries. Steep capacity ramp up by Indonesian mills, driven by Chinese investment, and compounded by zero duty imports from ASEAN countries, poses a serious threat to Indian stainless steel makers. Currently at 3MT per annum, the Indonesian capacity is expected to reach 6MT by 2020, which will further aggravate the situation. The import duty of 2.5% on both stainless steel scrap and ferro-nickel, key raw materials not available in India, continued to affect competency and status of domestic stainless steel players. On a sequential basis, the company registered a marginal dip (-2%) in revenue, from Rs 3,147 crore in Q1FY19 to Rs 3,081 crore in Q2FY19. Exceptional loss of Rs 53 crore, primarily on account on mark-to-market forex loss, resulted in a net loss of Rs 36 crore in Q2FY19. Production volume dipped from 0.26 MT to 0.2 MT as a result of planned maintenance shutdown. In a notable development during the quarter, JSL secured approvals to produce and supply for the elevator segment; the maiden despatch for which was also initiated. Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.51.1 as compared to the previous close of Rs. 50.9. The total number of shares traded during the day was 86711 in over 637 trades. The stock hit an intraday high of Rs. 52.3 and intraday low of 49.6. The net turnover during the day was Rs. 4422767.

www.india.com Weblink: https://www.india.com/news/agencies/jindal-stainless-q2-loss-at-rs-36-cr-3400731/ Jindal Stainless Q2 loss at Rs 36 Cr New Delhi, Oct 26 (PTI) Jindal Stainless Ltd (JSL) Friday reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. Our focus is to increase annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets Having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19, Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 per cent and 22 per cent respectively, as compared to the year-ago periods, the statement said.

www.quint.com Weblink: https://www.thequint.com/pti/jindal-stainless-q2-loss-at-rs-36-cr Jindal Stainless Q2 loss at Rs 36 Cr New Delhi, Oct 26 (PTI) Jindal Stainless Ltd (JSL) Friday reported a standalone loss of Rs 36.44 crore for the quarter ended September 30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago period, JSL said in a filing to BSE. However, the total income increased to Rs 3,088.55 crore over Rs 2,622.18 crore in the September quarter of 2017-18. "Our second quarter results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. "Our focus is to increase annual production by 15 per cent in the next two years to cater to the growing needs of domestic markets...having become eligible to exit from Corporate Debt Restructuring Scheme (CDR), JSL expects to be out of CDR by end of 2018-19," Managing Director Abhyuday Jindal said in a statement. The company said it built up inventory in the first quarter to support a planned maintenance shutdown in the September quarter. This, along with steep hike in nickel prices during June quarter impacted sales of finished inventory in the second quarter, thereby causing inventory losses. "These factors slowed down the overall EBIDTA for the second quarter. The production volumes for the quarter and first half of the fiscal stood at 0.2 MT (million tonne) and 0.46 MT, registering increase of 2 per cent and 22 per cent respectively, as compared to the year-ago periods," the statement said.

www.cogenics.com Weblink: http://www.cogencis.com/newssection/jindal-stainless-posts-364-mln-rupee-net-loss-jul-sep-vs-pat-yr-ago/ Jindal Stainless posts 364-mln-rupee net loss Jul-Sep vs PAT yr ago MUMBAI Jindal Stainless Ltd posted a net loss of 364.4 mln rupees in Jul-Sep, as against a net profit of 273 mln rupees a year ago. Revenue from operations for the quarter rose 18.2% on year to 30.81 bln rupees. For Jul-Sep, total expenditure, including finance cost, was at 30.9 bln rupees, compared with 25.9 bln rupees a year ago. The company s operating margin contracted to 7.5% in Jul-Sep from 9.83% a year ago. Finance cost was at 1.57 bln rupees as against 1.61 bln rupees a year ago. The company s tax writeback for Jul-Sep was 152.7 mln rupees as against a tax outgo of 211.8 mln rupees a year ago. For Apr-Jun, the company s net profit was at 908.5 mln rupees, on revenue from operations of 31.47 bln rupees. Today, shares of Jindal Stainless closed 0.5% higher at 51.1 rupees on the National Stock Exchange. End

In.investing.com Weblink: https://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-posts-septqtr-loss-1369750 BRIF- India s Jindal stainless Posts sept-qtr loss SEPT QUARTER LOSS 364.4 MILLION RUPEES VERSUS PROFIT OF 273 MILLION RUPEES LAST YEAR * SEPT QUARTER REVENUE FROM OPERATIONS 30.81 BILLION RUPEES VERSUS 26.08 BILLION RUPEES LAST YEAR.

www.devdiscourse.com Weblink: https://www.devdiscourse.com/article/agency-wire/231695-jindal-stainless-q2-loss-at-rs-36-cr Jindal Stainless Steel to commission new plant for long products Stainless steel major Jindal Stainless Steel (Hisar) Ltd will soon commission its 50,000 tonne per annum (tpa) long products plant, said a senior official in the group on Wednesday. He said Jindal Stainless was planning to triple its share in the kitchenware/hollowware segment. "The stainless steel long and flat products go hand-in-hand. The entry into long products is part of our diversification. Further, the distribution channel for both stainless steel long and flat products are the same," Vijay Sharma, Senior Vice President, Head-Sales and Distribution (Domestic and Exports), told the media. The plant for stainless steel long products is being set up at Hisar where the company has its stainless steel flat products production facility, he said. "The long products plant will be ready for operation by the end of this fiscal. The investment for the new plant is about Rs 40 crore," Sharma said. On plans for kitchenware industry, Sharma said the group led the industry with the introduction of 200 series and will transform the industry by introducing high quality chrome-manganese product through the coil route. He said usage of stainless steel coil by the kitchenware makers would involve increased automation and increased share of the organised segment in the market. "We intend to triple our share in the next two years," Sharma said. The market size of Indian stainless steel flat products is estimated to be 25 lakh tonnes per annum which is growing at a steady rate of 9-10 per cent per annum.

www.in.investing.com Weblink: https://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-posts-septqtr-loss-1369750 India's Jindal Stainless Posts Sept-Qtr Loss * SEPT QUARTER LOSS 364.4 MILLION RUPEES VERSUS PROFIT OF 273 MILLION RUPEES LAST YEAR * SEPT QUARTER REVENUE FROM OPERATIONS 30.81 BILLION RUPEES VERSUS 26.08 BILLION RUPEES LAST YEAR

www.m.dailyhunt.in Weblink: https://m.dailyhunt.in/news/india/hindi/rtinews-epaper-rtin/jindal+stenales+li+ka+rajasv+18+phisadi+badhanewsid-100147493

www.ibn7.in Weblink: https://ibn7.in/business/item/156466-18

www.hindi.thequint.com Weblink: https://hindi.thequint.com/hot-news/jindl-sttenles-li-kaa-raajsv-18-phiisdii-bddh-aa

www.business.khaskhabar.com Weblink: https://business.khaskhabar.com/business-news/jindal-stainless-ltd-revenues-up-18-percent-348221-bkn.html

hindi.vishvatimes.com Weblink: http://hindi.vishvatimes.com/jindal-stainless-ltd-revenues-up-18-pc

www.myequity.co.in Weblink: http://www.myequity.co.in/company/jindalstel-532286/jindalstainlesslimited-h1fy19-revenue-surges Jindal Stainless Limited H1FY19 revenue surges by 35% The Board of Directors of Jindal Stainless Limited (JSL) took on record the unaudited financial results of the company today. The revenue of the company continued to grow both on a quarterly and half-yearly basis, by 18% and 35% over corresponding period last year (CPLY) respectively. The company built up inventory in Q1 to support a planned maintenance shutdown in Q2. This, along with steep hike in nickel prices during Q1, impacted sales of finished inventory in Q2, thereby causing inventory losses. These factors slowed down the overall EBIDTA for Q2FY19. The production volumes for Q2 and H1 FY19 stood at 0.2 MT and 0.46 MT, registering a respective increase of 2% and 22% over CPLY. This was in tune with the company s target to increase its annual capacity from the present level of 0.8 MT to 1.1 MT by the end of FY19. On a sequential basis, the company registered a marginal dip (-2%) in revenue, from Rs 3,147 crore in Q1FY19 to Rs 3,081 crore in Q2FY19. Exceptional loss of Rs 53 crore, primarily on account on mark-to-market forex loss, resulted in a net loss of Rs 36 crore in Q2FY19. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, Our Q2 results are a reflection of the cyclical nature of core sector, including its determinants such as input prices and forex volatility. Our focus is to increase annual production by 15% in the next two years to cater to the growing needs of domestic markets. Our product mix is well distributed among different segments, and all of them are showing a healthy growth rate. Besides, we are increasingly moving towards more value added products in railways, automobiles, and other sectors. We are also increasing our presence in the ferretic segment, which will balance the impact of raw material price volatility. This portfolio enhancement, clubbed with gradually growing demand, will help in improved operating performance going forward. About Jindal Stainless Limited Founded by Shri O.P Jindal in 1970, Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world. Jindal Stainless Group has an annual crude steel capacity of 1.8 MTPA and the group has an annual turnover of US $ 3.1 billion (as on March'18).