- 28 Jul 2022
- ICICIdirect Research
Subdued operational performance on the back of lower than expected sales volumeJSLHISAR - 563 Change: 21.75 (4.02 %)
News: For Q1FY23, Jindal Stainless (Hisar) reported consolidated topline of Rs3454 crore, up 24% YoY, (our estimate of Rs 3333 crore). For Q1FY23, JSHL reported consolidated EBITDA of Rs337 crore, down 18% YoY (our estimate of Rs378 crore). JSHL’s ensuing consolidated PAT for Q1FY23 stood at Rs308 crore, down 14% YoY (our estimate of Rs 326 crore).
Views: Jindal Stainless (Hisar) (JSHL) reported muted performance for Q1FY23 on the back of lower than expected standalone sales volume. Hence on the back of lower than expected sales volume consolidated EBITDA and consolidated PAT came in below our estimate. For the quarter, JSHL’s standalone operations reported sales volume of 132172 tonnes, down 13% YoY, lower than our estimate of 155000 tonnes. Standalone operations EBITDA/tonne came in at Rs23908/tonne higher than our estimate of Rs21500/tonne.