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JSW Ispat Special Products Ltd.

BSE: 513446 | NSE: JSWISPL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE743C01021 | SECTOR: Steel - Sponge Iron

BSE Live

Oct 28, 10:56
28.85 -0.45 (-1.54%)
Volume
AVERAGE VOLUME
5-Day
425,234
10-Day
415,249
30-Day
375,950
113,682
  • Prev. Close

    29.30

  • Open Price

    29.30

  • Bid Price (Qty.)

    28.85 (1960)

  • Offer Price (Qty.)

    28.95 (2221)

NSE Live

Oct 28, 10:56
28.85 -0.35 (-1.20%)
Volume
AVERAGE VOLUME
5-Day
2,683,167
10-Day
2,683,554
30-Day
2,051,378
576,535
  • Prev. Close

    29.20

  • Open Price

    29.20

  • Bid Price (Qty.)

    28.85 (2168)

  • Offer Price (Qty.)

    28.90 (1669)

Annual Report

For Year :
2015 2014 2012 2011 2008 2006

Chairman's Speech

Dear Shareholders'' As you are aware your Company made a steady growth in the last 20 years of its existence and maintained a consistence record of building up the capacities and increase in the revenues of the Company. Transformation Sponge Iron player to a Steel player was possible with the inspiration and support of all the Shareholders and lenders. The year 2014-15 unraveled unexpected series of events which were beyond our scope of advance preparation and hit the Company from many ends. First came the decision of Hon''ble Supreme Court of India to de-allocate all Coal mines in the Country, which included fve mines in the Monnet forte. It included an operating mine closer to our operation in Raigarh, which was providing a big strength to our operations in terms of stable supply, quality of coal and distinct pricing advantage. Two other mines, which were advance at the stage of approvals, one for our steel plant and another for our upcoming power plant at Angul also got cancelled. The year also saw steep decline in the demand and pricing of Steel product across the board Iron Ore the principal RM for steel declined in prices across the globe but actually became scare in availability and increased in prices in India on account of closure of many mine in the Iron Ore hub of State of Orissa. Indian industry faced high Iron Ore prices against declining selling prices of end products at least till December, 2014. The year ended with huge challenges on all fronts. The performance of Company drew no comfort with a loss of Rs.795 Crores, which includes one-time loss of Rs.252 Crores. On account of one time Royalty payment on Coal extracted in the last 10 years of operations of Mines, as per the order of the Hon''bal Supreme Court. The current conditions in the industry continue to be challenging, the demand for steel is not showing any sign of recovery which calls for a new orientation and approach to run the business of the company. We have recently embarked on major cost cutting exercise and drive, besides constantly focusing on the effciency of operations to rationalize production cost to realign the operation of plant from time to time according to the market conditions. I believe the dynamics of Steel industry have under gone a dramatic change which calls for an engagement with the lenders to re-organize the debt profle of the company with a view to establish a viable and sustainable level of debt. The exercise is being initiated at right earnest by soliciting the support of lenders within regulatory permissions to achieve debt rationalization and asset classification. The Company will keep the Shareholder posted with the developments and assure you my commitment to riggle the Company out of the current emphases. Sandeep Jajodia Chairman & Managing Director