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Electrosteel Castings Ltd

Hindalco Industries

Hindustan Construction

Indian Metal Ferro Alloy

Jindal Stainless

Jindal Steel & Power

Maharashtra Seamless

Pennar Industries

Praj Industries Ltd

Ratnamani Metals and Tubes

Shyam Metalics & Energy Ltd

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Company Name : Jindal Steel & Power

Y/E Mar, Rs mn	FY11	FY12	FY13	FY14E	FY15E
Price					148
Target					321
Reco					BUY
Net Sales	131,122	182,086	198,068	200,040	283,720
Growth (%)		39	9	1	42
EBIDTA	63,162	67,932	59,944	54,568	89,167
EBITDA Margin		37	30	27	31
Net Profit	37,539	39,649	29,101	19,104	23,997
Growth (%)		6	-27	-34	26
EPS, Rs	38	40	42	31	21
PER, x	3.9	3.7	3.5	4.8	7.1
EV/EBIDTA, x	4	4	6	9	6
P/BV, x	1	1	1	1	1
ROE, %	41	27	22	14	8
Total debt/Equity (%)	94.2	92.0	112.0	149.2	139.1

Latest Reports
Date	Description	Country	Analyst	Download

31-Jan-2024	Jindal Steel & Power 3QFY24: Cost rationalization and higher volumes to drive earnings (Upgrade to BUY)	India	Vikash Singh
19-Jan-2024	Jindal Stainless Q3FY24: Volumes growth story intact; Debt to start falling from FY25 (Maintain Buy)	India	Vikash Singh
31-Oct-2023	Jindal Steel & Power Q2FY24: Expansion delayed; Near term positives factored in (Maintain Neutral)	India	Vikash Singh
11-Aug-2023	Jindal Steel & Power Q1FY24: Volume growth sometime away; Positives factored in	India	Vikash Singh
16-May-2023	Jindal Steel & Power Q4FY23: Struggling for volume growth; Capex to inflate debt (Maintain Neutral)	India	Vikash Singh
31-Jan-2023	Jindal Steel & Power Q3FY23: Positives largely factored in (Maintain Neutral)	India	Vikash Singh
10-Nov-2022	Jindal Steel & Power Q2FY23: Subdued performance; Risk-reward turning unlucrative (Downgrade to Neutral	India	Vikash Singh
15-Jul-2022	Jindal Steel & Power Q1FY23: Negatives largely factored in… (Upgrade to Buy)	India	Vikash Singh
31-May-2022	Jindal Steel & Power Q4FY22: Deleveraging to continue despite capex plans and margin compression	India	Vikash Singh
11-Feb-2022	Jindal Steel & Power Q3FY22: EBITDA bottomed out; Positive outlook intact (Maintain Buy)	India	Vikash Singh
05-Jan-2022	Jindal Steel and Power Plant visit update: Expansion progressing smoothly (Maintain Buy)	India	Vikash Singh
02-Nov-2021	JSPL Q2FY22: Deleveraging continues; Valuations remains attractive (Maintain Buy)	India	Vikash Singh
11-Aug-2021	JSPL Q1FY22: Steel business to drive rerating post balance sheet cleanup (Maintain Buy)	India	Vikash Singh
13-May-2021	Jindal Steel & Power Q4FY21: Focusing on steel business growth; Debt target met in advance (Maintain Buy)	India	Vikash Singh
22-Jan-2021	Jindal Steel & Pwer Q3FY21: Stellar performance; Debt reduction is on track (Maintain Buy)	India	Vikash Singh
02-Nov-2020	Jindal Steel & Power Q2FY21: Good run to continue…Maintain Buy	India	Vikash Singh
23-Jul-2020	Jindal Steel 1QFY21: Strong performance likely to continue; Debt reduction on track (Maintain Buy)	India	Vikash Singh
26-May-2020	Jindal Steel & Power 4QFY20: Cost streamlining to drive profits; Debt concern gradually fading (Maintain Buy)	India	Vikash Singh
20-Jan-2020	Jindal Steel & Power 3QFY20 result: Improving Angul performance to drive earnings	India	Vikash Singh
06-Nov-2019	Jindal Steel & Power 2QFY20: In-line performance; Outlook improving	India	Vikash Singh
16-Aug-2019	Jindal Steel & Power 1QFY20 result update: Volume growth & cost rationalization to drive earnings	India	Vikash Singh

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