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JSPL reports robust numbers

Posted On: 2018-08-10 12:06:31

Jindal Steel & Power Limited (JSPL) has announced its financial results for the quarter ended June 30, 2018.JSPL Standalone 1QFY19 Performance (YoY):

- Turnover: Rs. 6,734 Cr; increased by 100%
- EBITDA: Rs. 1,645 Cr; increased by 119%
- EBITDA Margin: 24%
- Crude Steel Production: 1.22 million tonnes
- Steel Sales: 1.19 million tonnes

JSPL Consolidated 1QFY19 Performance (YoY):

- Turnover : Rs. 9,665 Cr; increased by 71%
- EBITDA: Rs. 2,277 Cr; increased by 68%
- EBITDA Margin: 24%
- EBITDA - Oman : US$ 68 mn
- Crude Steel Production: 1.65 million tonnes
- Steel Sales: 1.61 million tonnes

JPL 1QFY19 Performance (YoY):

- Turnover : Rs. 968 Cr
- EBITDA: Rs. 314 Cr
- EBITDA Margin: 32%

JSPL Standalone Steel production rose 36% in the reported quarter to 1.22 million tonnes (0.90 million tonnes in 1QFY18) while Standalone Steel sales during 1QFY19 increased to 1.19 million tonnes (up 46% YoY). The Company's Angul pl.ant continues to ramp up steadily and is beingstabilized at different levels of production. Production at Angul t his quarter was approx. 2.Sx of volumes produced in 1QFY18. The Company believes this gradual and steady growth shall help the Angul facility reach its optimum utilization with better efficiencies.

The revenues for JSPL Standalone came in at Rs. 6,734 Cr (up 100% YoY, adjusted for Excise Duty/GST changes). The rise in sales realization has led to an increase in EBITDA in 1QFY19 by 119% YoY to Rs. 1,645 Cr despite of rising raw materials' costs. The Company reported an expansion in the EBITDA margins for lQFYl 9, which came at 24% as compared to 1QFY18 (22%). JSPL Standalone reported Profit After Tax of Rs. 332 Cr as compared to a loss of Rs. 178 Cr in 1QFY18.

During lQFYl 9, production of pellets increased by 4% YoY to 1.76 million tonnes and the company achieved external sales of pellets of 0.83 MT during 1QFY19.

JSPL produced 1.65 million tonnes on the Consolidated level (up 31% from 1.27 million tonnes in 1QFY18) and sold 1.61 million tonnes (up 40% from 1.15 million tonnes in 1QFY18).

JSPL reported Consolidated Revenues of Rs. 9,665 Cr (up 71% YoY, adjusted for Excise Duty/GST changes) while Consolidated EBITDA increased to Rs. 2,277 Cr from Rs. 1,353 Cr (in 1QFY18), up 68% YoY. JSPL Consolidated Profits After Tax jumped from a loss of Rs. 421 Cr in 1QFY18 to a profit ofRs. 110 Cr in 1QFY19.

Net Debt to EBITDA (rolling basis) at the end of 1QFY19 stood at 4.68x as compared to 8.2x in 1QFY18. The Consolidated net debt came down this quarter, excluding the impact of foreign currency.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.217 as compared to the previous close of Rs. 216.8. The total number of shares traded during the day was 1326954 in over 7723 trades.

The stock hit an intraday high of Rs. 224.7 and intraday low of 214.2. The net turnover during the day was Rs. 290936129.

Source: Equity Bulls

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