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.

27 Jan 2021

1002.20

-1.03%

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 pledged 0.04% of shares in last quarter. Total pledge stands at 11.19% of promoter holdings

Jindal Steel Ltd.

22 Jan 2021

1002.20

-1.03%

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...

Jindal Steel Ltd. is trading above its 200 day SMA of 973.7

Jindal Steel Ltd.

04 Nov 2020

1002.20

-1.03%

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...

Jindal Steel Ltd. is trading below its 30 day SMA of 1031.3

Jindal Steel Ltd.

03 Nov 2020

1002.20

-1.03%

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...

Promoters pledged 0.04% of shares in last quarter. Total pledge stands at 11.19% of promoter holdings

Jindal Steel Ltd.

23 Jul 2020, 12:00AM

1002.20

-1.03%

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.

Jindal Steel Ltd. is trading below its 30 day SMA of 1031.3

Jindal Steel Ltd.

23 Jul 2020, 12:00AM

1002.20

-1.03%

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...

Jindal Steel Ltd. is trading below its 30 day SMA of 1031.3

Jindal Steel Ltd.

26 May 2020

1002.20

-1.03%

Q4FY20 Result Update - Delivers on all front; Maintain BUY

Buy: Jindal Steel Ltd.

Target

Prabhudas Lilladhar

estimates by 11%/9% at Rs22.2b, led by higher margins in India and Shadeed steel operations. EBITDA of Domestic steel/Shadeed/Jindal power (JPL) rose 16%/93%/30% QoQ (+8%/+82%/25% YoY). Aided by lower interest cost, quarter turned black with PBT (before exceptional) of Rs1.9bn (PLe:loss of Rs1.5bn) against loss of Rs2.0bn/Rs4.0bn in Q3FY20/Q4FY19....

Promoters pledged 0.04% of shares in last quarter. Total pledge stands at 11.19% of promoter holdings

Jindal Steel Ltd.

05 May 2020

1002.20

-1.03%

India steel production up 5 % YoY in Apr '20

Buy: Jindal Steel Ltd.

Target

Motilal Oswal

JSPL produced 550kt steel and related products during Apr20 (up 5% YoY). This was on the back of record high production from the Angul Blast Furnace, which produced 298kt hot metal, clocking 10kt daily. Though domestic demand remained dry during the month, production was boosted by large export orders, primarily of billets from China due to the shortage Apr20 sales stood at 335kt, of which 248kt (74% of total) were exports. The balance production in Apr20 is at the ports, waiting to be exported out; sales We note that while these export volumes would earn lower EBITDA margins (likely ~INR5,000/t), it is still positive as this should help recover fixed costs if plants earn positive cash flows, which is critical in this environment. JSPLs Oman operations reported production of 106kt, down ~40% over the normal monthly run-rate. However, the decline in sales volumes was lower at 33%.

Jindal Steel Ltd. is trading above its 200 day SMA of 973.7

Jindal Steel Ltd.

04 Feb 2020

1002.20

-1.03%

Jindal Steel and Power Ltd.

Buy: Jindal Steel Ltd.

Target

AUM Capital

Jindal Steel and Power Ltd. (JSPL), a part of the USD 22 billion diversified O. P. Jindal Group with the youngest son Mr. Naveen Jindal as a chairperson who transformed a moderately performing company into a world class organization. JSPL, established in the year 1952 is an industrial powerhouse and one of India's fastest growing and largest integrated steel manufacturers with a dominant presence in steel, power, mining and infrastructure sectors. The company operates some of India's most advanced steel manufacturing and power generation capacities of global scale through backward and forward integration spanning across the states of Chhattisgarh,...

Jindal Steel Ltd. has an average target of 1113.83 from 6 brokers.

Jindal Steel Ltd.

20 Jan 2020

1002.20

-1.03%

Weakest margin in three years???

Buy: Jindal Steel Ltd.

Target

Motilal Oswal

20 January 2020 JSPs result instills more confidence in the expected steel volume ramp-up with strong 34% YoY standalone volume growth to 1.6mt (+21% QoQ) in 3QFY20. Moreover, the sharp improvement in steel prices over the past two months, coupled with lower coking coal cost, has reinforced the near-term margins outlook. We estimate EBITDA/ton to improve ~30% QoQ to INR11,000/t in 4QFY20. Reiterating with an SOTP-based target price of INR210. EBITDA of INR18.1b (+11% QoQ) in 3QFY20 was 5% above our estimate due to higher volumes in the standalone business. Interest cost declined 3% QoQ to INR10b. Steel sales volumes were strong at 1.6mt (+21% QoQ, +34% YoY). Implied steel realization dropped to INR39,023/t (-16% QoQ), resulting in an EBITDA margin of ~INR8,400/t (-32% YoY, 11% QoQ) weakest in three years. EBITDA stood at INR13.5b (+8% QoQ, -9% YoY due to lower realizations), above our estimate of INR12.

Jindal Steel Ltd. is trading below its 30 day SMA of 1031.3

Is Jindal Steel & Power Ltd. worth buying?

521 Votes:

Buy 75.43%

Sell 16.7%

Hold 7.87%

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