is aiming a 30% growth in exports this year, with an aim to export 22,000 – 25,000 tonnes of
stainless steel each month, as compared to 16,000 – 18,000 tonnes per month in the previous fiscal, a top executive said.“Because of the way the tariffs (by US) have been now uniformly applied on EU, South Korea, India, Japan, Taiwan which earlier they were not having, so that definitely has given us a better level playing field and we believe that as a country we should be able to leverage this and do better in the export market,” Tarun Khulbe, the chief executive officer of the company said.
In 2024 – 25 (Apr-Mar), 9% of the company’s output was exported, down from 13% a year ago.
“A lot of the customers who had gone out of our fold over pre-2016, all of them are now back,” Abhyuday Jindal, the managing director of the company said. “They are still little bit afraid or unsure if something new comes from Mr.
Trump's side, but other than that they have already started giving multiple inquiries to us, our order booking is looking much healthier,” he said on a call post the company’s quarterly earnings.
As much as three-fourth of the company’s exports will cater to the US and European markets, he said.
The country’s largest producer of stainless steel sees its volumes growing by 9-10% in the current fiscal, the same as 2024 – 25 (Apr-Mar), while
capital expenditure for the year is pegged around Rs 2,700 crore.Its consolidated profit for FY25 fell more than 7% on year to Rs 2,500 crore, while net revenue was 2% higher at Rs 39,312 crore. “Chinese and Vietnamese imports continued to challenge India’s stainless steel industry, accounting for over 70% of total imports in this fiscal, with low-priced stainless steel often rerouted through
ASEAN countries, including Vietnam,” the company said.For the March quarter, its consolidated revenue rose nearly 8% to Rs 10,198 crore, while profit was nearly 18% higher at Rs 590 crore.
