Jindal Stainless (Hisar) Limited posts Q4FY21 consolidated PAT of Rs. 349.95 crore

Jindal Stainless (Hisar) Ltd has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.3128.80 crores during the period ended March 31, 2021 as compared to Rs.3172.41 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.349.95 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.269.54 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.14.83 for the period ended March 31, 2021 as compared to Rs.11.42 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 3128.80 crs	₹ 3172.41 crs	-1.37%
Net Profit	₹ 349.95 crs	₹ 269.54 crs	29.83%
EPS	₹ 14.83	₹ 11.42	29.86%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.3128.80 crores during the period ended March 31, 2021 as compared to Rs.2297.94 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.349.95 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.105.28 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.14.83 for the period ended March 31, 2021 as compared to Rs.4.46 for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 3128.80 crs	₹ 2297.94 crs	36.16%
Net Profit	₹ 349.95 crs	₹ 105.28 crs	232.4%
EPS	₹ 14.83	₹ 4.46	232.51%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.9507.51 crores during the 12 months period ended March 31, 2021 as compared to Rs.9511.86 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.693.78 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.392.87 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.29.40 for the 12 months period ended March 31, 2021 as compared to Rs.16.65 for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 9507.51 crs	₹ 9511.86 crs	-0.05%
Net Profit	₹ 693.78 crs	₹ 392.87 crs	76.59%
EPS	₹ 29.40	₹16.65	76.58%

Improved business sentiments, along with sustained growth in the domestic economic activity, triggered stainless steel demand from segments like Auto, Railways, and Wagon, along with Metro Rail. Sales of JSHL's Specialty Products Division (SPD), a key differentiator and focus area for the Company, grew by 8% in Q4FY21 over CPLY. The company is in process of commissioning new facilities to further enhance SPD production that is expected to further consolidate its position in the high-end special products market.

Globally, the pandemic left imprints on the stainless steel melt shop production in every country other than China. The global stainless steel production stood at 50.90 million tonnes in CY2020, down by 2.5% over CPLY. Indian stainless steel production decelerated by 19% over CPLY and stood at 3.17 million tonnes in CY2020. Pent Up in demand aided by economic stimulus along with ample liquidity globally pushed the stainless steel raw material prices further. As a result, the prices of Scrap, Nickel, Copper, and Ferro Chrome surged significantly over the Q3FY21 prices. Logistical challenges, generated by international transport bottlenecks, also contributed to increasing input prices. Strong momentum in the raw material prices impacted prices of finished goods globally.

Commenting on the performance of the Company, Managing Director, JSHL, Mr Abhyuday Jindal, said, "Demand recovery, coupled with strong operational performance and consistent deleveraging of the balance sheet, led to a good Q4. By far, we have made good progress on the merger front and markets have responded well to it. In the post-pandemic age, we look forward to increased government procurement as one of the key growth drivers. Along with the focus on business growth, our priority has been also to support health infrastructure in the country to tide over this pandemic."

Shares of Jindal Stainless (Hisar) Ltd was last trading in BSE at Rs.180.1 as compared to the previous close of Rs. 185.1. The total number of shares traded during the day was 85944 in over 1372 trades.

The stock hit an intraday high of Rs. 190 and intraday low of 179. The net turnover during the day was Rs. 15795928.

Source : Equity Bulls

Keywords