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Jindal Stainless Hisar reports healthy performance; volume and EBITDA per tonne surprise positively

News: For the quarter on a consolidated basis, Jindal Stainless Hisar (JSHL) reported topline of Rs.3743 crore, up 63% YoY and 35% QoQ, higher than our estimate of Rs.3465 crore. Consolidated EBITDA for Q2FY22 stood at Rs.567 crore, up 95% YoY and 37% QoQ, higher than our estimate of Rs.475 crore. Ensuing consolidated PAT for Q2FY22 was at Rs.499 crore, up 196% YoY and 39% QoQ, higher than our estimate of Rs.374 crore.

Views:Jindal Stainless Hisar (JSHL) reported healthy set of numbers for Q2FY22 wherein topline, EBITDA and PAT came in higher than our estimate. For the quarter Jindal Stainless Hisar (JSHL), reported standalone sales volume of 188178 tonnes, up 21% YoY and 25% QoQ, higher than our estimate of 180000. Standalone EBITDA/tonne for Q2FY22 was at 26636/tonne (Rs.25278/tonne in Q1FY22 and Rs.15958/tonne in Q2FY21), higher than our estimate of Rs.25000/tonne. Consolidated EBITDA margin for Q2FY22 stood at 15.1%, up 240 bps YoY and 30 bps QoQ, higher than our estimate of 13.7%