Gujarat, India-based steelmaker Essar Steel has announced that in the financial year 2015-16 ended March 31, the sales volume at its Pune facility in Maharashtra increased by 71 percent to 462,000 mt, while its revenues rose by 45 percent to INR 20.7 billion ($306.55 million), both compared to the previous year.
In the given year, Essar Steel achieved capacity utilization of 77 percent at the Pune facility, compared to capacity utilization of 45 percent in the financial year 2014-15.
Essar Steel stated that the current year’s production target for the Pune facility is set to exceed 625,000 mt, translating into 35 percent growth compared to the financial year 2015-16.