Open ICICI
3-in-1 Account
Manage your Savings, Demat and Trading Account conveniently at one place
Manage your Savings, Demat and Trading Account conveniently at one place
News: For Q4FY23, Jindal Stainless' consolidated topline was at Rs 9765 crore, up 8% QoQ, higher than our estimate of Rs 9336 crore. For Q4FY23, JSL reported consolidated EBITDA of Rs 1144 crore, up 32% QoQ, higher than our estimate of Rs 958 crore. Consolidated EBITDA margin for the quarter was at 11.7%, higher than our estimate of 10.3% (9.6% in Q3FY23). Ensuing consolidated PAT for the quarter was at Rs 716 crore (up 40% QoQ), higher than our estimate of Rs 601 crore.
Views: Jindal Stainless reported a healthy operational performance for Q4FY23 on the back of better-than-expected standalone volumes and higher-than-expected EBITDA/tonne. For the quarter, JSL’s standalone operations reported sales volume of 507632 tonnes, up 8% QoQ, higher than our estimate of 485000 tonnes. Standalone operations EBITDA/tonne came in at | 21610/tonne, as compared to |20246/tonne in Q3FY23, higher than our estimate of | 19750/tonne. Also, Jindal Stainless’s (JSL’s) Stainless steel melt shop capacity expansion of 1 million tonne was completed in March 2023, along with the expansion of supporting downstream facilities in Jajpur, taking the total melt capacity of the Company to 2.9 million tonnes per annum. The expansion would aid JSL to report healthy volume growth, thereby auguring well for the company.
Impact: Positive