Jindal Steel & Power Ltd.

NSE: JINDALSTEL | BSE: 532286 | ISIN: INE749A01030 | Industry: Iron & Steel/Interm.Products
| Mid-range Performer
905.2000 -4.35 (-0.48%)
NSE Apr 03, 2025 15:31 PM
Volume: 1.9M
 

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Jindal Steel & Power Ltd.
14 May 2021
905.20
-0.48%
buy
by Motilal Oswal
Target: 550
Motilal Oswal
It has announced an INR180b capex at Angul to expand its Steel capacity by 85% to 15.9mtpa by FY25, at a very competitive cost of ~USD390/t. With the proposed sale of Jindal Power (JPL), JSP would become a pure play Indian Steel company, which should also aid in better value discovery as the Steel business is still under-valued at 4.1x FY23E EV/EBITDA. We raise our FY22E/FY23E EBITDA by 15%/11% to factor in strong Steel prices. Despite the announced capex, we expect net debt to fall further to INR126b (excluding the ~INR50b net debt reduction from the Power...
 
Promoters unpledged 0.34% of shares in last quarter. Total pledge stands at 12.77% of promoter holdings
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