Hot-rolled coil prices jumped 12% to 15% this quarter, helped by the 12% safeguard duty.
Even with coking coal and iron ore getting costlier, profits per ton are expected to rise by ₹2,000 to 3,000 due to a 7% bump in output.
India also ramped up its steel exports by 40%, while imports dropped by 25%, making local manufacturers even stronger on the global stage.