Iron & Steel Products company Jindal Stainless announced Q2FY25 results Consolidated Financial Highlights: Net revenue at Rs 9,777 crore, up by 3.68% QoQ. EBITDA at Rs 1,186 crore, down by 2.08% QoQ. PAT at Rs 609 crore, down by 5.67% QoQ Standalone Financial Highlights: Sales volume at 5,64,627 tonnes, down by 2.34% QoQ. Net revenue at Rs 9,746 crore, up by 1.68% QoQ. EBITDA at Rs 1,007 crore, up by 0.25% QoQ. PAT at Rs 589 crore, up by 1.90% QoQ. Net debt at Rs 2,580 crore. Net debt-to-equity ratio at ~0.2. Abhyuday Jindal, Managing Director, Jindal Stainless, said: “India’s growth story is the single biggest driver of domestic manufacturing, especially in times of global uncertainties causing continued slowdown in exports. We appreciate the government's renewed focus to use stainless steel in bridges and infrastructural applications in corrosive environments to prevent loss of life and property. The domestic market has always been our focus area, and we expect volume growth to pick up going forward. We also hope for a resolution to the ongoing dumping of subsidised and substandard imports from China and Vietnam, disturbing the level playing field for Indian manufacturers.” Result PDF
Iron & Steel Products company Jindal Stainless announced Q1FY25 results: Standalone: Sales volume at 5,78,143 tonnes, up by 1.4% QoQ Net revenue at Rs 9,585 crore, up by 0.7% QoQ EBITDA at Rs 1,004 crore, up by 21.4% QoQ PAT at Rs 578 crore, up by 21.4% QoQ Standalone net debt at Rs 3,296 crore Net debt-to-equity ratio at ~0.23 Consolidated: Net revenue at Rs 9,430 crore EBITDA at Rs 1,212 crore, up by 17.1% QoQ PAT at Rs 646 crore, up by 29.0% QoQ Commenting on the performance of the company, Managing Director, Jindal Stainless, Abhyuday Jindal, said, “We thank the government on behalf of the entire industry for removing the basic customs duty on ferro nickel as it will aid competitiveness of the domestic industry. The first quarter witnessed our continued focus on operationalising our recent expansion plans. The addition of cold-rolled capacity to our product basket through Chromeni acquisition, combined with government initiatives in the area of standardisation and our planned co-branding scheme in other segments, open an array of possibilities for us. Given the increasing awareness on lowlife cycle costing and light-weighting properties of stainless steel, we anticipate growth in the industry in the coming fiscals.” Result PDF