Iron & steel/intermediate products company Jindal Stainless announced Q1FY24 results: Consolidated Q1FY24: Net revenue at Rs 10,184 crore, up by 25% YoY EBITDA at Rs 1,192 crore, up by 34% YoY PAT at Rs 738 crore, up by 45% YoY Standalone Q1FY24: Sales volume at 548,613 MT, up by 54% YoY Net revenue at Rs 10,027 crore, up by 25% YoY EBITDA at Rs 1,118 crore, up by 35% YoY PAT at Rs 666 crore, up by 47% YoY Net debt at Rs 2,956 crore Net debt-to-equity ratio at ~0.2 Commenting on the performance of the company, Managing Director, Jindal Stainless, Abhyuday Jindal, said, “We have recently expanded our capacity, hence, the attention will be on stabilizing and synergizing the expanded units. We will continue to maintain a sharp focus on the domestic market and capitalize exports, wherever possible. However, since the Indian stainless steel industry is operating well below its capacity, it needs government support for a level-playing field. The industry is still awaiting a positive decision by the government on imposing a countervailing duty (CVD) to curb dumping of mass and subsidized stainless steel in India by China.” Result PDF