Shri Amitava Mukherjee CMD (Addl. Charge) and Director (Finance), NMDC LTD.
Can you shed some light on your competitive landscape?
India produced about 258 Million Tonne of iron ore in FY 23 and is expected to produce 285-290 Million Tonne of iron ore in FY 24. The estimated domestic production of iron ore in Q1 of FY 24 is around 72.5 Million Tonne, which is 13 per cent higher compared to CPLY.
NMDC is the largest Iron ore Producer in the country producing over 40 MTPA of iron ore. NMDC has produced 10.7 Million Tonne of Iron ore in Q1 of FY 24, which is about 20 per cent higher compared to CPLY. The state-owned Odisha Mining Corporation (OMC), has produced about 32 Million Tonne of iron ore in FY 23 whereas in Q1 it is estimated to have produced about 5.7 Million Tonne of iron ore (lower by about 10 per cent) as against 6.3 Million Tonne of iron ore in the Q1 of CPLY, mainly on account of sluggish sales of iron ore.
In terms of Steel production, the crude steel production of the country for FY 23 stood at about 126 Million Tonne, which is around 5 per cent higher than the previous year. In the ongoing financial year, the steel sector continues to grow strongly, as India has produced about 45.3 Million Tonne of crude steel from April-Jul 23, which is about 11 per cent higher compared to CPLY.
This story is from the August 14, 2023 edition of Dalal Street Investment Journal.
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This story is from the August 14, 2023 edition of Dalal Street Investment Journal.
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