The company has achieved a turnover of Rs 1153 crore, a growth of 18 per cent, a company press release stated. However comparative figures from last year were not available. The company attributed the rise in turnover to cost control measures and improvement in sale of value added products.

The operating profit rose by 26 per cent to Rs 222.04 crore. The company has paid a total dividend of 40 per cent for the year ended March 2000 as against 30 per cent in the previous fiscal.

The production of molten stainless steel has increased by over 14 per cent to 2,22,791 tonnes in 1999-00. Production of cold rolled stainless steel has increased by 112 per cent at 21,840 tonnes in the current year from 10,282 tonnes last year.

The company's thrust on exports has resulted in achieving exports of $29 million in the current year as compared $5 million last year, indicating a six fold increase. Exports comprise 9 per cent of Jindal Strips' total sales.

During the current year, the company has acquired 51 per cent in Massillon Stainless Inc, USA. This 60,0000 mt cold rolling facility has become operational from March 2000. Jindal Strips has now proposed to increase its stake from 51 per cent to 66 per cent.