Country’s leading integrated steel manufacturer JSW Steel is on of the top most taxpayer, contributing Rs. 11,145 crore contribution to government and society in FY 2019-20, the annual report FY 2019-20 revealed.
Company’s CSR spending stood at Rs. 152 crore and its R&D spending was Rs. 56 crore for the year. Company pledged 100 crore to the PM CARES Fund during the year.
Employee benefits expenses rose 4% y-o-y to Rs. 1,496 crore, largely due to salary increments and higher headcount (13,159 as at 31 March 2020 versus 12,599 as at 31 March 2019)
Freight expenses fell due to overall reduction in domestic sales. Royalty and other direct mining costs increased, as the Company mined 4.13 MnT in FY 2019-20, up from 1.33 MnT in FY 2018-19.
JSW Steel is the country’s leading integrated steel manufacturer; and focused on enhancing capacity from 18 MTPA to 45 MTPA within the next decade. The first phase of this journey is currently underway, with a committed capex outlay of Rs 48,715 crores (FY 2018-19 to FY 2021-22). With nine key domestic manufacturing facilities, secure raw material sources, wide export reach and strong domestic retail presence, it is well-placed to maximise value across the steel value chain.
“The JSW Foundation continued to make a positive difference across 255 villages in four states, aligned with our vision to ‘empower communities to create sustainable livelihoods’. Our CSR initiatives are focused on key intervention areas of health and nutrition, skills and livelihoods, education, water, sanitation and community empowerment.”, Sajjan Jindal, Chairman, JSW Steel said in the report.
JSW Steel operates some of the most efficient steel manufacturing units with best-in-class EBITDA per tonne levels across flat (12.5 MTPA) and long (5.5 MTPA) products, with one of the lowest conversion costs in the industry and high employee productivity, report said.
