Jindal Steel Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for JINDALSTEL, BSE:532286 Jindal Steel Ltd.

Jindal Steel Ltd.

14 May 2021

1041.55

0.88%

Deleveraging to continue on strong earnings

Buy: Jindal Steel Ltd.

Target

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 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Jindal Steel Ltd.

14 May 2021

1041.55

0.88%

Deleveraging to continue on strong earnings

Buy: Jindal Steel Ltd.

Target

Motilal Oswal

Jindal Steel Ltd. is trading above all available SMAs

Jindal Steel Ltd.

14 May 2021

1041.55

0.88%

Jindal Steel & Power: Q4FY21 Result Review

Buy: Jindal Steel Ltd.

Target

IDBI Capital

Jindal Steel & Power (JSPL) Q4FY21 profitability was a beat. It reported highest ever consolidated EBITDA of Rs53 bn (+153% YoY) mainly driven by higher realizations and operating efficiencies. Its net debt fell by Rs35 bn QoQ to Rs138 bn. Importantly, JSPL announced its intention to double its steel capacity at Angul from 6 mtpa to 12 mtpa...

Promoters unpledged 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Jindal Steel Ltd.

29 Apr 2021

1041.55

0.88%

Event Update - Divestment of JPL in right direction but issues on funding remains - Downgrade to 'ACCUMULATE'

Accumulate: Jindal Steel Ltd.

Recommendation Target

Prabhudas Lilladhar

comes at Rs92bn (Rs27mn/MW), considering present value of preference shares of Rs70.5bn (redeemable after 20 years) at Rs40.5bn, debt transfer of Rs21bn and equity component of Rs30.2bn. Valuation is broadly in line with our estimate. We believe that funding of equity component would be a concern in near term, as it could increase pledging of shares by promoter and may add unwanted risk to the stock. We remain positive on steel sector given the structural supply restrictions in China and improved demand. However, due to limited upside potential, we downgrade JSP to Accumulate with TP of...

Jindal Steel Ltd. is trading above all available SMAs

Jindal Steel Ltd.

27 Jan 2021

1041.55

0.88%

Sector Update | Steel | Time to SELL

Sell: Jindal Steel Ltd.

Edelweiss

We have taken a non-consensus call on the steel industry and recommend SELL on all Indian steel players with more than 25% downside from current levels.

Promoters unpledged 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Jindal Steel Ltd.

22 Jan 2021, 12:00AM

1041.55

0.88%

Q3FY21 Result Update - Delivers across the front; normalised margins on a higher trajectory - BUY

Buy: Jindal Steel Ltd.

Target

Prabhudas Lilladhar

Strong FCF generation drive fall in Net debt by 11%/Rs33bn QoQ at Rs256bn Jindal steel & Power's (JSP) Q3FY21 EBITDA beat our/consensus estimates by 5%/25% on the back of strong margins. We expect margins to further improve by Rs2,500/t QoQ, led by higher prices and stable costs. JSP reduced net debt by 33%/Rs151bn over last five years through organic route. Trajectory would sustain at Rs30bn/year for next couple of years on...

Promoters unpledged 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Jindal Steel Ltd.

04 Nov 2020

1041.55

0.88%

Gare Palma win to lead to savings of INR4.5b annually

Buy: Jindal Steel Ltd.

Target

Motilal Oswal

JPL the highest bidder in Gare Palma IV/1 coal block auction Jindal Power Limited (JPL), subsidiary of Jindal Steel and Power (JSP), emerged as the highest bidder in the auction of the 6mtpa Gare Palma IV/1 coal block at 25% of the coal price based on the National Coal Index. We estimate average savings of ~INR750/t JSP IN on 6mt coal, implying savings of INR4.5b/year. Assigning a 5x EBITDA multiple could...

Promoters unpledged 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Jindal Steel Ltd.

03 Nov 2020

1041.55

0.88%

Jindal Steel & Power: Q2FY21 Result Review

Buy: Jindal Steel Ltd.

IDBI Capital

Jindal Steel & Power (JSPL) reported highest ever consolidated EBITDA of Rs27 bn (+78% YoY) driven by strong volume growth, higher realizations and operating efficiencies. JSPL's Oman operations are now classified as Discontinued operations. Hence, our Q2FY21 estimates are not comparable to the reported results. JSPL's consolidated debt fell by Rs70 bn to Rs289 bn in 1HFY21 due to Oman divestment and...

Jindal Steel Ltd. is trading above all available SMAs

Jindal Steel Ltd.

23 Jul 2020, 12:00AM

1041.55

0.88%

On the path to deleveraging

Buy: Jindal Steel Ltd.

Target

Motilal Oswal

23 July 2020 Jindal Steel and Power (JSP)s 1QFY21 result highlights the benefit of cost reduction in its steel operations. EBITDA was up We raise JSPs FY21/FY22 EBITDA estimates by 6%/5% to factor cost reduction demonstrated by the company. We expect JSP to reduce its net debt by INR83b (INR81/sh) to INR296b over FY2022E. The Oman divestment would reduce debt by an additional ~INR60b. of insurance claim higher volumes and cost reduction in standalone operations. The beat on estimates was led by lower-than-expected costs in standalone operations. Adj. PAT stood at INR1.0b (v/s est.

Promoters unpledged 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Jindal Steel Ltd.

23 Jul 2020, 12:00AM

1041.55

0.88%

Q1FY21 Result Update - Strong show on earnings and debt reduction - BUY

Buy: Jindal Steel Ltd.

Target

Prabhudas Lilladhar

Jindal steel & Power's (JSP) Q1FY21 adj. EBITDA came ahead of our/consensus estimates by 12%/22% at Rs22.6b, led by domestic steel and Jindal power (JPL). EBITDA of Domestic steel/JPL rose 9%/11% QoQ (+6%/+2%YoY). Aided by better operating performance and lower interest cost, cash profit rose 2% QoQ/19% YoY at Rs12.6bn (PLe:10.0bn). JSP reduced net debt by 25%/Rs115bn over last four years. Trajectory would...

Promoters unpledged 0.20% of shares in last quarter. Total pledge stands at 11.15% of promoter holdings

Is Jindal Steel & Power Ltd. worth buying?

515 Votes:

Buy 75.92%

Sell 16.7%

Hold 7.38%

RESEARCH REPORTS

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