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Jindal Stainless Ltd share Price Today

Company details

685.75
712.70
255.00
717.85
6M Return 50.59%
1Y Return 138.11%
Mkt Cap.(Cr) 57,183.44
Volume 1,192,965
Div Yield 0.36%
OI
-
OI Chg %
-
Volume 1,192,965

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About The Stock

    Jindal Stainless (JSL) is among the leading stainless steel manufacturing companies in the world and India’s largest stainless steel manufacturer.

    • JSL operates an integrated stainless steel plant at Jajpur, Odisha. The complex has a total stainless steel capacity of 1.1 million tonnes per annum
    • The company has readily leveragable infrastructure for cost efficient brownfield expansion
Q4FY22 Results

    Jindal Stainless (JSL) reported a healthy Q4FY22 performance.

    • During Q4FY22, JSL reported a consolidated topline of  6564 crore, up 68% YoY and 16% QoQ, higher than our estimate of  6056 crore
    • Consolidated EBITDA for the quarter was at  842 crore, up 55% YoY and 6% QoQ, higher than our estimate of  804 crore
    • During the quarter, on a consolidated basis, JSL reported a net tax credit of ~ 31 crore compared to our estimate of tax expense of ~ 219 crore. Hence, ensuing consolidated PAT for Q4FY22 was at  750 crore, up 156% YoY and 70% QoQ, higher than our estimate of  453 crore

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Iron & Steel/Intermediate Products company Jindal Stainless announced Q3FY24 results:

Standalone Q3FY24:

  • Sales Volume: 5,12,015 MT (up by 9% YoY)
  • Net Revenue: Rs 9,088 crore (up by 1% YoY)
  • EBITDA: Rs 1,021 crore (up by 8% YoY)
  • PAT: Rs 779 crore (up by 41% YoY)
  • Net Debt: Rs 3,085 crore
  • Net Debt-to-Equity Ratio: ~0.23

Consolidated Q3FY24:

  • Net Revenue: Rs 9,127 crore
  • EBITDA: Rs 1,246 crore (up by 43% YoY)
  • PAT: Rs 691 crore (up by 35% YoY)

Operational Highlights

  • Domestic Sales Volume: 88% in Q3FY24 (up from 87% in Q2FY24)
  • Export Sales Volume: Discrepancy was observed due to an increase in the dumping of the 300 series from China and Vietnam.

Key Developments and Strategic Movements

  • Subsidiaries & Acquisitions

    • Interim Dividend: Rs 200 crore received from JUSL (wholly-owned subsidiary).
    • Rabirun Vinimay Private Limited: Acquired for Rs 96 crore to enter the pipe and tube segment.
  • Credit Ratings

    • Revised from AA-/Positive to AA/Stable for long-term facilities and reaffirmed at A1 for short-term facilities.
  • Plans and Investment

    • PTJSI: Consent for liquidation given.
    • Nickel Pig Iron Facility: Commissioning expected early in H1FY25.
    • Iberjindal S L: In-principle approval for 100% stake acquisition.
  • Research & Development

    • Developed various stainless steel grades for niche applications such as missile components, anti-tank guided missiles, and marble cutting.

Commenting on the performance of the company, Managing Director, Jindal Stainless, Abhyuday Jindal, said, “The quarter has been eventful, with our maiden COP28 presence where we shed light on our decarbonisation efforts as a responsible business. Despite a global slowdown in stainless steel markets, the domestic market has been witnessing steady growth. Given the promise that India holds for the near and far future, we are confident of meeting our volumes in the next quarter. We will continue to focus our energies on green manufacturing, operational excellence, business development, and nation–building.”

 

Result PDF

View Other Company Results

Jindal Stainless Ltd shares SWOT Analysis

Strengths (13)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Company with high TTM EPS Growth

Weakness (1)

  • Declining Revenue every quarter for the past 2 quarters

Opportunity (3)

  • Big Deal (Insider and SAST) buys last month greater than 1% of total shares
  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (2)

  • Companies with growing costs YoY for long term projects
  • Increasing Trend in Non-Core Income

Resistance and support

R1 709.5
R2 724.6
R3 736.5
Pivot

697.63

S1 682.6
S2 670.7
S3 655.6
EMA SMA
672.6
638.9
591.1
513.0
674.1
630.2
585.4
500.8
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
VIRTUOUS TRADECORP PRIVATE LIMITED Block Purchase 2024-03-01 652 3075000 NSE
ELM PARK FUND LIMITED Block Sell 2024-03-01 652 3075000 NSE
VIRTUOUS TRADECORP PRIVATE LIMITED Block Purchase 2024-02-29 647.1 3250000 NSE
Name Category Shares
Abhyuday Jindal PROMOTER 3.05%
JSL OVERSEAS HOLDING LTD PROMOTER 15.1%
JSL OVERSEAS LTD PROMOTER 11.75%
Virtuous Tradecorp Private Limited PROMOTER 6.61%
Sun Investments Pvt Ltd PROMOTER 3.33%
Jindal Equipment Leasing And Consultancy Services Limited PROMOTER 2.05%
Jindal Strips Limited PROMOTER 1.9%
Hexa Securities And Finance Co Ltd PROMOTER 1.77%
Vrindavan Services Private Limited PROMOTER 1.77%
Jsl Limited PROMOTER 1.69%
Mansarover Tradex Limited PROMOTER 1.36%
Siddeshwari Tradex Private Limited PROMOTER 0.99%
Gagan Trading Company Limited PROMOTER 0.88%
Colarado Trading Co Ltd PROMOTER 0.74%
Nalwa Investments Limited PROMOTER 0.61%
Jindal Infrastructure And Utilities Limited PROMOTER 0.56%
Stainless Investments Limited PROMOTER 0.52%

OUR RESEARCH VIEW

Investment recommendation
Performs well…
Call Date
09 May 2022
Entry Price 166.00
Target Price 225.00
Duration
12 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Jindal Stainless Ltd Stocks COMPARISON

Financials( in Cr) Jindal Stainless Ltd JSW Steel Ltd Tata Steel Ltd Jindal Steel & Power Ltd Steel Authority of India Ltd
Price 694.45 830.20 155.85 849.15 134.25
% Change -1.20 1.49 2.06 1.93 0.45
Mcap Cr 57,183.44 203,021.59 194,555.85 86,620.77 55,452.30
Revenue TTM Cr 35,697.03 165,960.00 243,352.69 53,211.52 104,447.72
Net Profit TTM Cr 2,083.83 4,139.00 8,075.35 3,974.09 2,176.53
PE TTM 19.71 18.79 79.14 15.60 16.40
1 Year Return 138.11 26.01 52.35 57.42 65.33
ROCE 20.22 8.60 12.10 14.17 5.25
ROE 19.16 6.22 7.48 13.27 3.57
INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 11,931.18 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 29,068.81 33,709.58
LAST 3M 68,518.10 30,558.15
LAST 6M 130,081.93 64,349.19
LAST 12M 189,941.35 208,211.24
Jindal Stainless Limited - Trading Window

Mar 28, 2024 l NSE Announcement

IIT Kharagpur signs MoU with Jindal Stainless

Mar 23, 2024 l BSE Announcement

Date Action Type Ratio
Oct 27, 2023 Dividend 50
Sep 15, 2023 Dividend 75
Apr 28, 2023 Dividend 50

Jindal Stainless Ltd Information

Stock PE (TTM)
19.71
Promoter Holding
58.69%
Book Value
160.8398
ROCE
20.22%
ROE
19.16%
Description
  • Jindal Stainless Ltd. is one of India’s largest stainless steel conglomerates. It is the largest manufacturer of stainless steel in 200, 300, 400 and duplex stainless steel products. The company was founded in 1970 by Shri O P Jindal. At the end of the June 2022 quarter, Jindal Stainless Ltd. posted a total income of Rs 5,490.91 crore, down 16.59% from the total income recorded in the March 2022 quarter. On 30 August 2022, the company’s market capitalisation stood at Rs 6,726 crore.  

    The company is listed on the Bombay Stock Exchange with the code 532508, and on the National Stock Exchange with the code JSL.  

    Jindal Stainless Ltd.’s product portfolio includes blooms, slabs, sheets, plates, blade steel, coin blanks, and precision strips made from stainless steel.  

    As per the company’s shareholding pattern on 30 June 2022, there was a foreign institutional investor stake of 13.77%, a domestic institutional investor stake of 5.85%, a public stake of 10.28%, and a promoter stake of 70.1%. In the June 2022 quarter, promoters unpledged 0.25% of shares, bringing the total pledge of promoter holdings to 78.07%. Promoter holdings increased from 69.87% to 70.10%, while mutual fund holdings decreased from 2.68% to 2.28%.  

    Jindal Stainless Ltd.’s top management comprises Mr Abhyuday Jindal, Mr Ratan Jindal, Mr Tarun Kumar Khulbe, Mr Jayaram Easwaran, Mr Parveen Kumar Malhotra, Ms Bhaswati Mukherjee, Ms Suman Jyoti Khaitan, Mrs Savitri Devi Jindal, and Mrs Arti Luniya. The company has Walker Chandiok & Co. LLP as its auditors. On 30 June 2022, the company’s total outstanding shares were 52.55 crores.  

    On 30 August 2022, the company’s share price closed at Rs 127.95 on BSE. Jindal Stainless Ltd’s share price closed at Rs 128 on NSE. The 52-week high for the company’s share price was Rs 224.40, and the 52-week low share price for Jindal Stainless Ltd. was Rs 95.05. The share’s one-year return to its investors was -15.29%.  

    The company’s peers include JSW Steel Ltd., Tata Steel Ltd., Hindalco Industries Ltd., and Jindal Steel & Power Ltd.  

    In August 2022, SBI Credit Risk Fund had a 2.95% stake in Jindal Stainless Ltd. SBI Magnum Income Fund had a 2.85% stake, and SBI Magnum Medium Duration Fund had a 2.52% stake. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose 

Registered Address

O P Jindal Marg, , Hisar, Haryana, 125005

Tel : 91-1662-222471-83
Email : investorcare:jindalstainless.com
Website : http://www.jindalstainless.com
Registrar

Abhipra Capital Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 532508
NSE Code : JSL
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE220G01021

FAQ’s on Jindal Stainless Ltd Shares

You can buy Jindal Stainless Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Jindal Stainless Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Mar 28, 2024 03:52 PM the closing price of Jindal Stainless Ltd was ₹ 694.45.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Mar 28, 2024 03:52 PM, the market cap of Jindal Stainless Ltd stood at ₹ 57,183.44.

The latest PE ratio of Jindal Stainless Ltd as of Mar 28, 2024 03:52 PM is 19.71

The latest PB ratio of Jindal Stainless Ltd as of Mar 28, 2024 03:52 PM is 0.23

The 52-week high of Jindal Stainless Ltd share price is ₹ 717.85 while the 52-week low is ₹ 255.00

According to analyst recommendations, Jindal Stainless Ltd Share has a “Buy” rating for the long term.

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