Jindal Steel & Power - Q4 FY 2011 Result Update - Motilal Oswal

JINDAL STEEL & POWER 4QFY11: consol PAT up 10%; JPL projects delayed

JSPL consolidated adjusted PAT increased 10.4% YoY to Rs9.95b.

Standalone PAT increased 18% YoY to Rs6.5b due to increase in production of steel, pellet and captive power. Jindal Power's PAT declined 5% YoY.

Rs3.3b of revenue and Rs647m of EBIT was generated by steel segment in subsidiaries, but this could not contribute to consolidated.

Steel segment in subsidiary i.e. Oman sponge iron (DRI) plant reported revenue of Rs3.3b and EBIT of Rs647m.

Net Sales increased 20% YoY to Rs38.5b; EBITDA increased 16% YoY to Rs17.2b; PAT increased 10.4% YoY to Rs10b.

For FY11, Consolidated adjusted PAT increased 5% to Rs37.5b implying an EPS of Rs40.3.

Source : Equity Bulls

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