Q4FY21 Result Update - Jindal Stainless - ICICI Direct

Jindal Stainless' (JSL) Q4FY21 performance was better than our estimates on all fronts. Topline of consolidated operations for Q4FY21 was at Rs. 3914 crore (up 26% YoY, 9% QoQ), higher than our estimate of Rs. 3606 crore. For Q4FY21, JSL reported consolidated EBITDA of Rs. 542 crore, up 145% YoY, higher than our estimate of Rs. 478 crore. Ensuing consolidated PAT of JSL for Q4FY21 was at Rs. 293 crore (higher than our estimate of Rs. 181 crore). In terms of key development, the merger process of Jindal Stainless Hisar (JSHL) into JSL is progressing well and is expected to be completed in H2FY22. For Q4FY21, JSHL reported an operationally steady set of numbers wherein its consolidated EBITDA and PAT came in higher than our estimates. JSHL's consolidated topline for Q4FY21 was at Rs. 3103 crore, up 38% YoY (our estimate: Rs. 3202 crore). JSHL reported consolidated EBITDA of Rs. 406 crore, up 123% YoY, higher than our estimate of Rs. 392 crore. Ensuing consolidated PAT of JSHL for Q4FY21 was at Rs. 350 crore, up 233% YoY (higher than our estimate of Rs. 276 crore).

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Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.95.95 as compared to the previous close of Rs. 94.6. The total number of shares traded during the day was 303655 in over 2603 trades.

The stock hit an intraday high of Rs. 98.3 and intraday low of 95.05. The net turnover during the day was Rs. 29388919.

Source : Equity Bulls

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