375.40 -17.90 (-4.55%)
NSEJan 22, 2021 03:31 PM
The 23 reports from 8 analysts offering long term price targets for JSW Steel Ltd. have an average target of 306.50. The consensus estimate represents a downside of -18.35% from the last price of 375.40.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-11-03||JSW Steel Ltd. +||Motilal Oswal||317.85||317.85 (18.11%)||Buy|
Cash flow generation healthy; Debt reduction continues JSW Energy's (JSWE) 2QFY21 results reflect the impact of lower merchant sales volumes on the back of drop in power demand and merchant prices. However, this was partly offset by operational efficiency measures. At consolidated level, EBITDA was down 1% YoY to INR9.2b. Net debt (excl. acceptances) continued reducing (by ~INR8.2b during the quarter). Interest cost has also decreased 24% YoY. Further, FCF generation is expected to be robust as ~80% of JSWE's capacity is under long-term...
|2020-10-27||JSW Steel Ltd. +||SMC online||306.80||306.80 (22.36%)|
of the company went up 28% to Rs 199 crore. Interest cost decreased 15% to Rs 959 crore. Depreciation increased 9% to Rs 1149 crore. PBT as a result rose 264% to Rs 2505 crore. The tax stood at Rs 910 crore and the company's PAT decrease 37% to Rs 1595 crore. Considering share of...
|2020-10-27||JSW Steel Ltd. +||Geojit BNP Paribas||309.00||326.00||309.00 (21.49%)||Target met||Hold|
|2020-10-26||JSW Steel Ltd. +||ICICI Securities Limited||308.30||330.00||308.30 (21.76%)||Target met||Hold|
ICICI Securities Limited
Project capex progressing well as per schedule The doubling of steelmaking capacity at Dolvi from 5 million tonnes (MT) to 10 MT is currently under way and is expected to be commissioned by Q4FY21. The Dolvi expansion would enhance JSW Steel's flat product portfolio. At Vijayanagar, the 1.2 million tonnes per annum (MTPA) has been successfully commissioned and trial production is underway. Other key projects as Vijayanagar such colour coating line, pellet plant and coke oven plant are progressing as per schedule. The 0.3 MTPA colour coating line is...
|2020-10-26||JSW Steel Ltd. +||Prabhudas Lilladhar||305.85||223.00||305.85 (22.74%)||40.60||Sell|
6%/25% on the back of better than expected earnings in domestic ops. While overseas ops continued to drag earnings. Stock rallied sharply in last three months on the back of sharp uptick in steel...
|2020-10-24||JSW Steel Ltd. +||Motilal Oswal||321.25||372.00||321.25 (16.86%)||Target met||Buy|
|2020-10-23||JSW Steel Ltd. +||Sharekhan||308.95||375.00||308.95 (21.51%)||Target met||Buy|
JSW Steel's consolidated EBITDA at Rs. 4,186 crore (up 85% y-o-y) was significantly above our estimates, led by higher-than-expected EBITDA/tonne at Rs. 10,087/tonne (up 59% y-o-y) and strong sales volume at 4.2mt (up 16.6% y-o-y). Management has maintained FY2021E sales volume guidance of 15mt, which implies 5% y-o-y growth in H1FY2021E. Capacity expansion at Dolvi plant (undergoing 5mtpa capacity expansion) is on track to get commissioned by Q4FY2021. Higher steel price (revision in contractual steel price for the auto sector from October), improving revenue mix (with higher domestic sales), higher operating leverage, and volume...
|2020-07-28||JSW Steel Ltd. +||SMC online||220.25||220.25 (70.44%)|
The OPM decreased 740 bps to 11.4%. Thus the operating profit fell by 64% to Rs 1341 crore. Cost of material consumed as a percentage of adjusted net sales fell 30 bps to 54.2%. Employee benefit expenses rose 160 bps to 5.2%. Power and fuel expenses increased 240 bps to 10.5%....
|2020-07-27||JSW Steel Ltd. +||Prabhudas Lilladhar||220.25||160.00||220.25 (70.44%)||57.38||Sell|
JSW Steel (JSTL) posted Q1FY21 standalone EBITDA below our expectation by 14% due to lower than expected margins. While, miss on consolidated EBITDA restricted to 6% due to lower than estimated losses in overseas operations and better earnings in domestic subsidiaries. Stock rallied by ~30% in last three months on the back of strong pent-up demand in China and rise in steel prices. We had seen similar trends in earlier...
|2020-07-25||JSW Steel Ltd. +||Motilal Oswal||205.00||242.00||205.00 (83.12%)||Target met||Buy|
25 July 2020 JSW Steels (JSTL) 1QFY21 results reflect the adverse impact of COVID-19 on steel demand and prices as consol. EBITDA declined 55% QoQ to INR13.4b. We expect an increase in domestic steel prices, supported by improving domestic demand and international prices which should improve margins in 2QFY21. EBITDA was down 64% YoY (+55% QoQ) to INR13.4b (v/s est. INR13.0b) on lower volumes and realizations. It reported loss of INR5.6b (v/s profit of INR10.4b in 4QFY20 and est.
|2020-07-18||JSW Steel Ltd. +||Motilal Oswal||206.75||242.00||206.75 (81.57%)||Target met||Buy|
18 July 2020 In FY20, JSTL ramped-up exports by 33% YoY to 3.2mt amid 10.7% YoY decline in domestic volumes (due to weak demand from auto and other flat steel consumers). JSTL expects share of exports to rise further to ~30% in FY21 as domestic demand is likely to be weak due to the disruption caused by COVID-19. Amid uncertainties arising from COVID-19, JSTL is focusing on cash conservation and has thus recalibrated its capex plans to prioritize return- accretive projects. FY21 capex has thus been curtailed to INR90b v/s the earlier planned spend of INR163b. JSW Steel Net debt (including acceptances) increased by INR64b YoY to INR639b in FY20 on weak domestic margins, significant losses in subsidiaries, and a higher capex spend. However, gross debt surged by INR121b to INR759b as JSTL increased liquidity in hand due to uncertainty in cash flows stemming from COVID-19. Net debt / EBITDA rose to 5.7x in FY20 (from 3.
|2020-05-26||JSW Steel Ltd. +||ICICI Securities Limited||176.25||190.00||176.25 (112.99%)||Target met||Hold|
ICICI Securities Limited
Downward revise FY21E capex guidance to | 9000 crore JSW Steel has revised its FY21E capex plan to | 9000 crore (downward revised from earlier guidance of | 16340 crore). Priority is to complete key strategic projects during the year such as 5-10 MTPA capacity expansion at Dolvi, wire rod mill and pellet plant at Vijayanagar, selective downstream projects (like CRM1 upgradation at Vijayanagar) & commencement of iron ore mining from new mines in Odisha and Karnataka. For FY21, project...
|2020-05-26||JSW Steel Ltd. +||Geojit BNP Paribas||184.20||175.00||184.20 (103.80%)||Target met||Hold|
Geojit BNP Paribas
We maintain our HOLD rating on the stock with a revised target price of Rs. 175 based on 6.5x FY22E EV/EBITDA. Topline remains under pressure due to weaker volumes JSW witnessed consolidated revenue declines of 20% YoY to Rs. 17,887cr in Q4FY20. Revenue was primarily impacted by weaker volumes with saleable steel sales falling 15% YoY to 3.65MT. Domestic sales declined by 5% YoY to 3.20MT (+3% QoQ), while export sales fell 51% YoY to 0.45MT and accounted 13% of total sales. Crude Steel production was down 5% YoY to 3.97MT. While domestic demand outlook continues...
|2020-05-26||JSW Steel Ltd. +||SMC online||184.15||184.15 (103.86%)||Results Update|
JSW steel consolidated net sales decreased by 20% to Rs 17887 crore for the quarter ended Mar20 compared to corresponding previous year period. Consolidated saleable Steel sales for the quarter decreased 15% YoY and 9% QoQ to 3.65 million tonne given the impact of COVID19 related lock down in the latter half of March 2020. Domestic sales volumes grew by 3% QoQ....
|2020-05-25||JSW Steel Ltd. +||Prabhudas Lilladhar||184.80||140.00||184.80 (103.14%)||62.71||Sell|
JSW Steel (JSTL) posted Q4FY20 EBITDA below our estimates by 11% due to lower than expected earnings in domestic subsidiaries and higher intercompany eliminations. Impacted by tepid domestic demand and lower exports, sales volume fell 8% QoQ/14% YoY to 3.7mnt (PLe:3.75mnt). Realisations rose 8% or Rs2,880/t QoQ (down 10% or Rs4,310/t YoY) to Rs40,600 (PLe:Rs40,415). Cost/t remained flat QoQ to Rs32,585 (PLe:Rs32,600)/t. Hence, EBITDA/t came in line with our estimates at Rs8,700 (PLe:Rs8,500), up 45% QoQ/14% YoY. Management guided to maintain volumes in FY21e at 15mnt on expectation...
|2020-05-23||JSW Steel Ltd. +||Motilal Oswal||166.15||199.00||166.15 (125.94%)||Target met||Buy|
23 May 2020 JSW Steel (JSTL)s fourth-quarter result reflects the benefit of higher domestic steel prices. Derived realization improved by 7% QoQ to INR41,289/t, leading to a 45% QoQ increase in EBITDA to INR8,703/t. Rev/EBITDA/Adj PAT declined 20%/33%/32% YoY to INR179b/INR30b/INR10.4b respectively. We expect lower coking coal and domestic iron ore prices to cushion the fall in margins due to lower steel prices in FY21E and expect margins to decline 10% YoY in FY21E. Our FY21E/FY22E estimates remain broadly unchanged. INR30.3b) on lower margins and consol. PBT (before exceptional item) was Standalone (S/A) volumes declined 14% YoY (-8% QoQ) to 3.7mt due to COVID-19. Crude steel production declined 5% YoY (-1% QoQ) to 3.97mt. The share of exports declined to 13% v/s 24% in the previous quarter. INR41,500/t) on strong domestic prices and lower exports. EBITDA/t improved 45% QoQ (down 14% YoY) to INR8,703/t, led by higher realization.
|2020-05-13||JSW Steel Ltd. +||Geojit BNP Paribas||174.30||192.00||174.30 (115.38%)||Target met||Hold|
|2020-02-19||JSW Steel Ltd. +||Geojit BNP Paribas||262.60||312.00||262.60 (42.96%)||Target met||Hold|
Geojit BNP Paribas
Crude steel production volume declined 5.0% YoY to 4.02mt (+4.7% QoQ) as operations at Dolvi and Vijayanagar plants were impacted by the extended monsoons. Nonetheless, sales volume grew 11.0% YoY to 4.03mt (+13.2% QoQ) driven by significant improvement in domestic sales (+25.0% QoQ) which was led by Retail sales (+33.0% QoQ), OEM sales (+21.0% QoQ) and Automotive sales (+10.0% QoQ), partially offset by weaker exports (-13.0% QoQ). Following the prolonged inventory adjustment (destocking) in H1FY20, the company was able to liquidate a large portion of the...
|2020-02-07||JSW Steel Ltd. +||Edelweiss||293.35||308.00||293.35 (27.97%)|
|2020-02-03||JSW Steel Ltd. +||Hem Securities||258.35||220.00||258.35 (45.31%)||Target met||Sell|
JSW Steel Ltd is the largest private sector steel manufacturer in terms of installed capacity. It is also one of the lowest cost steel producers in the world. It offers a wide range of steel products like Hot Rolled, Cold Rolled, Galvanized, Galvalume, Pre-painted Galvanised, Pre-painted Galvalume, TMT Rebars, Wire Rods & Special Steel Bars, Rounds &...