Jindal Steel & Power (JSPL) reported lower-than-expected EBIDTA and PAT in Q4FY22. EBIDTA/te declined by ~Rs3,815/te QoQ to Rs13,589/te; net debt at the end of Q4FY22 was Rs88.8bn. Consolidated EBITDA also declined by Rs3427/te – this could have been better but for US$14mn forex loss in Mozambique and inability to ramp up sales from the Russel vale coal mines.

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

Jindal Steel & Power Ltd.

10 Feb 2022, 12:00AM

974.10

-2.54%

JINDAL STEEL & POWER

Buy: Jindal Steel & Power Ltd.

Prabhudas Lilladhar

Rs17,405 (PLe:Rs18,480), down 18% QoQ (17% YoY). JSP reduced net debt by 83%/Rs374bn (including cash of Rs30.4bn to be received on closure of JPL deal) since FY17 through free cash flow generation and divestment of Oman steel operations and JPL. 45% of the total reduction was contributed by divestments (40%) and issuance of equity (5%) while rest through operating cash flows. Resultantly, current Net debt/EBITDA is expected at comfortable level of 0.7x on normalised earnings assumed for FY23e with EBITDA/t at Rs12,000 and accelerated capex on 6mnt...

Jindal Steel & Power.. has an average target of 1021.00 from 7 brokers.

Jindal Steel & Power Ltd.

10 Feb 2022, 12:00AM

974.10

-2.54%

Weak demand, lower ASP, and high input cost dents result

Buy: Jindal Steel & Power Ltd.

Target

Motilal Oswal

Standalone EBITDA grew 37% YoY, but down 10% QoQ, to INR17,404/t, 12% below our estimate at INR19,673/t. EBITDA reduction of INR3,863/t was largely on account of a sharp rise in net RM/conversion costs (up INR4,255/INR3,035 per tonne QoQ). EBITDA stood at INR31.6b (down 19% YoY and 30% QoQ) in 3QFY22, 7%...

Jindal Steel & Power Ltd. is trading above all available SMAs

Jindal Steel & Power Ltd.

14 Jan 2022

974.10

-2.54%

Pick of the Week - Jindal Steel & Power Limited

Buy: Jindal Steel & Power Ltd.

Recommendation Target

Edelweiss

Jindal Steel and Power Limited is an India-based steel producer.

Jindal Steel & Power Ltd. is trading above all available SMAs

Jindal Steel & Power Ltd.

05 Jan 2022

974.10

-2.54%

Another potential 30mtpa steel complex

Accumulate: Jindal Steel & Power Ltd.

ICICI Securities Limited

We visited Jindal Steel and Power’s (JSPL) Angul plant. The plant has evolved and improved a lot since our first visit in CY09. Availability of linkage coal allows steady quality of Syngas generation, and allows smooth operation of the DRI – current cost of Syn gas generation is US$5-6/mmbtu.

Jindal Steel & Power Ltd. is trading above all available SMAs

Jindal Steel & Power Ltd.

09 Dec 2021, 12:00AM

974.10

-2.54%

Company Update - Correction provides an attractive entry - BUY

Buy: Jindal Steel & Power Ltd.

Target

Prabhudas Lilladhar

Domestic steel stocks have been under pressure due to 2x increase in coking Change in Estimates | Target | Reco coal prices, negative sentiments on Chinese demand and 50% fall in iron ore prices. Strong steel prices and lower costs benefitted the Ferrous sector over...

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?

510 Votes:

Buy 76.08%

Sell 16.67%

Hold 7.25%

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