Jindal Stainless Q3 Results Review - Strong Domestic Demand Drives Volumes: Systematix

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Systematix Research Report

Jindal Stainless Ltd.'s reported Q3 FY23 consolidated revenue of Rs 106.3 billion (up 8% YoY, up 12% QoQ) and Ebitda of Rs 9.9 billion (down 28% YoY, up 35% QoQ).

Total expenses during the quarter rose by 14%/10% YoY/QoQ, as Nickel prices averaged at $25,292/tonne (up 28% YoY, up 15% QoQ) and Ferrochrome at Rs 100,558/tonne (down 15% YoY, up 4% QoQ).

Net sales realisation averaged at Rs 210,754/tonne, falling 8% YoY and flat QoQ. Despite higher costs, Jindal Stainless reported Ebitda/tonne of Rs 19,599 (down 38% YoY, up 21% QoQ), as the impact of lower exports was partially offset by strong domestic demand.

Sales volume at Jindal Stainless and Jindal Stainless Hisar Ltd. came at 330 thousand tonne (up 33% YoY, up 22% QoQ) and 178 thousand tonne (down 5% YoY, down 5% QoQ), respectively. Net debt during the quarter increased by Rs 0.8 billion to Rs 38.6 billion (Rs 37.8 billion in Q2 FY23).

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.