The past two fiscals have seen a dramatic turnaround in the fortunes of the Indian steel sector despite the Covid-19 pandemic as prices kept soaring and reached all-time highs.
Demand, too, bounced back strongly after the initial shocks of the pandemic in fiscal 2021. Not surprisingly, steel makers finished last fiscal with record profits and significantly deleveraged their balance sheets.
Driven by bumper earnings and strengthened financials, companies stepped up on capital expenditure.
Then came the bend in the steel ro(a)d.
The imposition of a raft of duties, red-hot price of coal, and moderation in global demand stemming from macro headwinds now pose a challenge for steel makers.
So what lies ahead?
To throw light, CRISIL is organising a webinar where its experts will present views on:
Impact of volatile global macro-economic environment and inflationary headwinds
Recent duty impositions by the Government of India
Effect of moves to tamp inflation, and outlook on demand and supply
Trend in steel and raw material prices, and operating margins of steel makers
Capex plans, exports scenario, and steelmaker financials
Credit outlook for both primary and secondary steel makers
This will be followed by a panel discussion with industry experts and a Q&A session.
Disclaimer: This event and its content are intellectual property and confidential information of CRISIL. Any use of the same without written permission of CRISIL is illegal and hence punishable. Recording the webinar in any form in full or part or copying, altering, distributing or streaming the webinar is strictly prohibited and violation will attract legal action.
