- 10 Feb 2022
- ICICIdirect Research
JSHL REPORTS HEALTHY OPERATIONAL PERFORMANCE
News: For the quarter, on a consolidated basis, JSHL reported topline of Rs.4173 crore, up 33% YoY, 11% QoQ, higher than our estimate of Rs.3696 crore. Consolidated EBITDA for Q3FY22 was at Rs.569 crore, flattish QoQ and up 47% YoY, higher than our estimate of Rs.558 crore. Ensuing consolidated PAT for Q3FY22 was at Rs.515 crore, up 91% YoY, 3% QoQ, higher than our estimate of Rs.482 crore.
Views: Jindal Stainless Hisar (JSHL) reported a healthy set of numbers for Q3FY22 wherein topline, EBITDA and PAT came in higher than our estimate. Healthy performance for Q3FY22 was aided by higher than expected EBITDA/tonne. Standalone EBITDA/tonne for Q3FY22 was at 28259/tonne (Rs.18335/tonne in Q3FY21 and Rs. 26636/tonne in Q2FY22), higher than our estimate of Rs.27000/tonne. For the quarter Jindal Stainless Hisar (JSHL), reported standalone sales volume of 184084 tonnes, down 4% YoY and 2% QoQ, marginally higher than our estimate of Rs.182500.
Impact: Positive