JSW Steel Annual Report Update - Growth Remains The Key Focus: Motilal Oswal
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Motilal Oswal Report
JSW Steel Ltd.’s FY21 Annual Report highlights the company’s objective to continue to pursue growth in both volumes and value.
Furthermore, the announcement of the 7.5 million tonnes per annum capacity expansion at Vijayanagar – coupled with the acquisition of Bhushan Power and Steel Ltd. and the completion of the 5 million tonnes per annum Dolvi expansion – indicates JSW Steel management’s focus to grow its market share and the comfort to manage its cash flows and leverage.
While debt would stay elevated in FY22 despite the strong steel prices and margins, we don’t see that as a worry given the expected strong growth in volumes and cash flows led by expansions.
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