Jindal Steel & Power Ltd. share price target

Jindal Steel and Power (JSPL) has initiated a comprehensive capex plan for its Angul facility to expand its crude steel capacity by 65% to 15.9mtpa and finished steel capacity by 83% to 13.75mtpa.

JSP reported adjusted EBITDA of Rs24.8bn (+9.8% vs Emkay; +1.5% vs consensus; +16.4% QoQ), led by lower coking coal cost and sequentially better production and sales volume of 2.1mt.

Jindal Steel & Power (JSP) reported largely in-line cons operating performance in Q4FY25. Volumes grew 6% YoY, driven by higher capacity utilization and inventory liquidation amid stronger domestic demand. Blended NSR rose 0.5% QoQ due to weak pricing in long products, which constitute a higher proportion...

3QFY25 revenue stood at INR118b (flat YoY/+5% QoQ), below our estimate of INR134b, due to lower-than-expected sales volumes. Sales volume came in at 1.9mt (+5% YoY/+3% QoQ) vs. our est. of 2.18mt.

Q2 results beat our weak expectations; EBITDA margin resilience reflect benefit of captive coal and HSM ramp-up

Jindal Steel & Power’s (JSP) ongoing capacity expansion at Angul (Odisha) will boost the crude steel capacity by 65% to 15.9mtpa and finished steel capacity by 83% to 13.75mtpa.

Jindal Steel & Power’s (JSPL) Q1FY25 performance was ahead of our and consensus estimates. Key points. Sales volume rose 13.6% YoY (4% QoQ) to 2.09mt – the highest since Q2FY22; EBITDA/te (adj.) at INR 12,886 was up 3.5% QoQ.

Jindal Steel & Power (JSP)’s 1QFY25 revenue stood in line at INR136b (YoY/ QoQ: +8%/+1%), driven by decent volume growth.

Jindal Steel & Power's (JSPL) Q4FY24 EBITDA was slightly ahead of street estimates.

JSP reported revenue of INR135b (-1.5% YoY/ +15% QoQ) in 4QFY24, which
was above our est. of INR122b. ASP stood at INR67,099/t (flat YoY/ +4%
QoQ) vs. our est. of INR62,821/t.

Q3 results ahead on higher per unit EBITDA margin; first coil from HSM represents next milestone on Angul growth project