Iron & Steel Products company Jindal Stainless announced Q3FY25 results Standalone Financial Highlights: Sales volume at 5,87,658 tonnes, up by 4.1% QoQ and 14.8% YoY. Net revenue at Rs 10,066 crore, up by 3.3% QoQ and 10.8% YoY. EBITDA at Rs 1,003 crore, down by 0.3% QoQ and 1.7% YoY. PAT at Rs 619 crore, up by 5.0% QoQ and down by 20.6% YoY. Net debt at Rs 3,344 crore. Net debt-to-equity ratio at 0.2. Consolidated Financial Highlights: Net revenue at Rs 9,907 crore, up by 1.3% QoQ and 8.5% YoY. EBITDA at Rs 1,208 crore, up by 1.8% QoQ and down by 3.1% YoY. PAT at Rs 654 crore, up by 7.4% QoQ and down by 5.3% YoY. Abhyuday Jindal, Managing Director, Jindal Stainless, said: “Recent times in the Indian steel and stainless steel industry have been witness to the adverse effects of subsidised dumping of inferior quality products by countries having surplus capacities. With India still being the fastest growing major economy globally, the domestic industry needs immediate government measures to stop dumping of surplus quantities into India, and circumvention of quality norms through several FTA countries. Our third quarter performance in the current fiscal is a testimony to our overall competitiveness even in the face of rising imports, and our adequacy in meeting domestic demand across all sectors. A favourable economy backed by bold infrastructure plans, accelerated use of stainless steel in process and greening industries, and a growing need to incorporate life cycle costing as a mandatory criterion for material selection in public procurement – all these factors augur well for continued demand of stainless steel.” Result PDF
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