India: Godawari Power and Ispat Reports Highest Ever Pellet Production in FY19
Godawari Power and Ispat Limited (GPIL) - one of the largest steel producers based in central India has released its operational results for fourth quarter of FY’19 ending Mar'19.
Key operational performance highlights in FY’19-
1) Pellet production hits highest ever in FY’19: Company has produced 19,33,250 MT pellets in FY19, up 5% compared to last fiscal year. In Q4 FY’19 company has produced to 540,000 MT pellets up 11% against Q4 FY18. The Company expects pellet prices expected to stay strong in India CY2019 as there is an increased demand for high grade ore from China on account of environmental concerns supply shortage of iron ore.
2) Captive iron ore production down 2% in FY’19: Iron ore production from its captive mines stood at 15,47,384 MT in FY19 down by 2% as compared to 15,79,693 MT in FY’18.
3) Steel billet production surge: Company's Steel Billet production has increased to 298,418 MT in FY’19, up 51% compared to last fiscal year. In Q4 FY’19 company has produced 90,390 MT up 70% against Q4 FY18.
4) MS Rounds: Company's MS Rounds production was 182,088 MT in FY’19, up 28% compared to last fiscal year. In Q4 FY’19 the company has produced to 42,956 MT, increased 18% against Q4 FY18.
5) HB Wire Production: Company's HB wire production was 134,558 MT in FY’19, up 15% compared to last fiscal year. In Q4 FY’19 Company has produced to 32,062 MT wire rod. On yearly basis it has been increased 14% in Q4FY19.
Outlook for FY20 :
1. Billet capacity utilisation to improve to 90%+
2. Commissioning of additional wire rod capacity
3. Focus on manufacturing of high grade pellets
GPIL is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures iron ore, Sponge iron, Billets, Ferro alloys, captive power, Wire rods (through subsidiary company), Steel wires, Oxygen gas, fly ash brick as well as pellets.
source: SteelMint
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