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Media Coverage report: Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT
Media Coverage report: Jindal Stainless Limited consolidates its
position, posts 2x jump in Q1 PAT
Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT
Electronic Date Channel Programme Duration
18-07-2018 ET Now Markets @ Noon 05:04 Mins 18-07-2018 BTVI Lunch Money 08:05 Mins 18-07-2018 CNBC Awaaz Know Your Company 10:40 Mins
Print Date Publication Edition Headline
18-07-2018 Hindu Business Line All edition Jindal Stainless Q1 net more than doubles
19-07-2018 Mint All edition Stock reccos
18-07-2018 ET Gujarati Mumbai Jindal Stainless June 18 quarter profit Rs.91cr
19-07-2018 Daily Thanthi Chennai Jindal Stainless
19-07-2018 Janambhoomi Mumbai Jindal Stainless quarterly profit doubles
Online Date Website Headline
18-07-2018 Economictimes.indiatimes.com Jindal Stainless Q1 PAT more than doubles to Rs.91 crore 17-07-2018 Thehindubusinessline.com Jindal Stainless Q1 net more than doubles 17-07-2018 Business-standard.com Jindal Stainless Jun Qtr net profit jumps to Rs.91cr 19-07-2018 Business-standard.com Indices open higher, Nifty tests 11,000 mark on Asian cues
18-07-2018 CNBCTV18.com Sensex scales new record high, Nifty starts above 11,050 on positive global cues, SBI, HDFC twins gain, HUL dips 18-07-2018 Hindi.Moneycontrol.com Which stocks will trade on basis of news 18-07-2018 Bloombergquint.com All You Need To Know Going Into Trade On July 18 17-07-2018 Indiatoday.in Jindal Stainless Jun Qtr net profit jumps to Rs.91cr 17-07-2018 Outlookindia.com Jindal Stainless Jun Qtr net profit jumps to Rs.91cr
17-07-2018 Equitybulls.com Jindal Stainless Ltd Q1 net profit soars to Rs.90.85 crore
18-07-2018 Equitybulls.com Jindal Stainless Limited posts 2x jump in Q1 PAT
18-07-2018 Steel-360.com Jindal Stainless Ltd consolidates its position, posts 2x jump in Q1 PAT
19-07-2018 Ferroalloynet.com Jindal Stainless Limited posts 2x jump in Q1 PAT
18-07-2018 Energyinfrapost.com Jindal Stainless Ltd Consolidates Its Position, Posts 2x Jump In Q1 PAT 17-07-2018 Railnews.in Jindal Stainless Ltd consolidates its position, posts 2x jump in Q1 PAT 17-07-2018 In.investing.com India's Jindal Stainless Posts June Quarter Profit 908.5 Mln Rupees 17-07-2018 In.investing.com India's Jindal Stainless Says Target To Increase Jajpur Capacity 17-07-2018 Bharatiyadigitalnews.in Jindal Stainless profit doubles to Rs.91cr 17-07-2018 Indiannewsdiary.blogspot.com Jindal Stainless achieved strong revenue and sales growth in Q1 FY19
17-07-2018 Searchtopnewsupdates.blogspot.com Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT
17-07-2018 Searchtopnewsupdates.wordpress.com Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT
http://www.cnbctv18.com/
Electronic
Date 18-07-2018 Channel ET Now Duration 05:04 mins
Date 18-07-2018 Channel BTVI Duration 08:05 mins
Date 18-07-2018 Channel CNBC Awaaz Duration 10:40 mins
Date 18-07-2018 Publication Hindu Business Line Page No. 03
Date 19-07-2018 Publication Mint Page No. 01
Date 18-07-2018 Publication ET Gujarati Page No. 10
Date 19-07-2018 Publication Daily Thanthi Page No. 06
Date 19-07-2018 Publication Janmabhoomi Page No. 02
Online Weblink: https://economictimes.indiatimes.com/markets/stocks/news/jindal-stainless-q1-pat-more-than-doubles-to-rs-
91-crore/articleshow/65042028.cms
Date 18-07-2018 Website https://economictimes.indiatimes.com
https://economictimes.indiatimes.com/markets/stocks/news/jindal-stainless-q1-pat-more-than-doubles-to-rs-91-crore/articleshow/65042028.cmshttps://economictimes.indiatimes.com/markets/stocks/news/jindal-stainless-q1-pat-more-than-doubles-to-rs-91-crore/articleshow/65042028.cms
Jindal Stainless Q1 PAT more than doubles to Rs 91 crore Jindal Stainless (JSL NSE -0.97 % ) Q1 PAT more than doubled to Rs 91 crore, driven by strong demand due to infrastructure NSE 0.83 % spending, railway modernisation and auto sector. Net revenue increased to Rs 3,147 crore, a growth of 56 per cent over previous corresponding period, the company said in a statement. Earnings before interest depreciation taxes and amortisation (EBIDTA) for the quarter surged by 50 per cent to Rs 375 crore over same period last year when finance NSE -1.20 % costs were extraordinarily lower on account of interest refund. A buoyant market for stainless steel led to a growth of 51 per cent in sales volume during the quarter under review over the same period last year. Melt production grew by 45 per cent in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization.
Commenting on the performance during the quarter, JSL managing director, Abhyuday Jindal said: “The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay.” The company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), on the basis of the improved financial performance in the last two financial years, he said. The consortium of lenders has already recommended CDR exit for company and the matter is pending for voting in CDR, Jindal added.
Weblink: https://www.thehindubusinessline.com/news/jindal-stainless-q1-net-more-than-doubles/article24445314.ece
Date 17-07-2018 Website www.thehindubusinessline.com
https://www.thehindubusinessline.com/news/jindal-stainless-q1-net-more-than-doubles/article24445314.ece
Jindal Stainless Q1 net more than doubles Jindal Stainless Ltd (JSL) on Tuesday more than doubled its standalone net profit for the quarter ended June 2018 at ₹90.85 crore as compared with the corresponding quarter last year. The company registered a profit of ₹41.50 crore in the comparable quarter last year. JSL reported standalone revenue of ₹3146.75 crore for the first quarter of the fiscal 2019, up 43.4 per cent, compared to the ₹2194.31-crore for the same period last year. JSL registered robust growth, despite the seasonally low first quarter, due to expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernisation, and auto segment, according to a press release. Production up According to the release, melt production grew by 45 per cent in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilisation.
Weblink: https://www.business-standard.com/article/pti-stories/jindal-stainless-jun-qtr-net-profit-jumps-to-rs-91-cr-118071701089_1.html
Date 17-07-2018 Website www.business-standard.com
https://www.business-standard.com/article/pti-stories/jindal-stainless-jun-qtr-net-profit-jumps-to-rs-91-cr-118071701089_1.htmlhttps://www.business-standard.com/article/pti-stories/jindal-stainless-jun-qtr-net-profit-jumps-to-rs-91-cr-118071701089_1.html
Jindal Stainless Jun Qtr net profit jumps to Rs.91cr Jindal Stainless Ltd today said its standalone net profit more than doubled to Rs 90.85 crore during the quarter ended June 30, mainly driven by higher sales volume. The company had clocked a standalone net profit of Rs 41.50 crore in the same period a year ago. Its total income increased to Rs 3,152.53 crore in the first quarter of this fiscal from Rs 2,203.86 crore in the corresponding period of the previous fiscal, JSL said in a BSE filing. In a separate statement, the country's largest stainless steel maker said: "The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernisation, and auto segment, among others. A buoyant market for stainless steel led to higher sales volumes growth of 51 per cent". JSL MD Abhyuday Jindal said, the company's plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. "We...target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay," he was quoted in the statement.
Weblink: https://www.business-standard.com/article/markets/markets-live-bse-sensex-nse-nifty-indices-june-results-oil-
prices-118071900132_1.html
Date 19-07-2018 Website www.business-standard.com
https://www.business-standard.com/search?type=news&q=jindal+stainless+ltdhttps://www.business-standard.com/search?type=news&q=morehttps://www.business-standard.com/search?type=news&q=stainless+steelhttps://www.business-standard.com/search?type=news&q=stainless+steelhttps://www.business-standard.com/search?type=news&q=stainless+steelhttps://www.business-standard.com/search?type=news&q=stainless+steel+plants
MARKETS LIVE: Indices open higher, Nifty tests 11,000 mark on Asian cues Edelweiss on Jindal Stainless Jindal Stainless’ (JSL) Q1FY19 standalone EBITDA at Rs 3.8bn (up 50% YoY) was primarily driven by volume jumping 51% YoY to 217kt. Key highlights: 1) realisation rose 3% YoY to Rs 145K due to higher stainless steel prices; and 2) raw material cost jumped 19% YoY to Rs 102K/t owing to higher scrap prices. As a result, JSL reported profit at net level for sixth successive quarter. Going ahead, management expects robust domestic stainless steel demand led by: 1) spurt in Indian Railways’ stainless steel coach production and; 2) newly introduced BIS-IV norms for automobiles. We believe that JSL will benefit from the focus on value-added products and ensuing capacity/production ramp up. At CMP, the stock is trading at 3.7x FY20E EBITDA. Maintain ‘BUY’ with target price of Rs 100, implying an exit multiple of 5x FY20E EBITDA
Weblink: https://www.cnbctv18.com/market/stocks/market-live-sensex-nifty-set-for-positive-start-on-global-cues-ultratech-cement-bandhan-bank-psu-bank-dairy-steel-stocks-in-focus-today-329571.htm
Date 18-07-2018 Website www.cnbctv18.com
https://www.cnbctv18.com/market/stocks/market-live-sensex-nifty-set-for-positive-start-on-global-cues-ultratech-cement-bandhan-bank-psu-bank-dairy-steel-stocks-in-focus-today-329571.htmhttps://www.cnbctv18.com/market/stocks/market-live-sensex-nifty-set-for-positive-start-on-global-cues-ultratech-cement-bandhan-bank-psu-bank-dairy-steel-stocks-in-focus-today-329571.htm
Market Live: Sensex scales new record high, Nifty starts above 11,050 on positive global cues, SBI, HDFC twins gain, HUL dips Key stocks in focus today Stocks likely to trade in the green PSU Banks: Govt announces capital infusion Of Rs 11,337 crore in 5 banks. Federal Bank: Brokerages maintain teir stance citing inexpensive valuations. Rallis: Q1 revenue up 30%, EBITDA up 21% and margin at 14.5%. Sintex Industries: Q1 revenue up 35%, EBITDA up 44% and margin at 11.9% vs 11.1%. JSL Stainless: Q1 revenue up 56%, EBITDA up 50% and sales volumes up 51%. HDFC: HDFC AMC IPO to open on July 25, price band at Rs 1,095-1,100/Share. HDFC Bank: allots 3.91 crore shares to HDFC at Rs2174.09/Share. Zee Entertainment: Q1 in-line, margin at 31.9% vs estimate of 31.5%; ad revenue up 22.3%. Kridhan Infra: Co’s asociate awarded a new project worth Rs 222.6 crore. IDBI Bank: To seek govt's decision on LIC stake Buy offer.
Weblink: https://hindi.moneycontrol.com/news/hot-stocks-news/stocks-in-news_183217.html
Date 18-07-2018 Website https://hindi.moneycontrol.com/
https://hindi.moneycontrol.com/news/hot-stocks-news/stocks-in-news_183217.html
खबर� के दम पर कौन से शेयर चल�गे शेयर� क� हर हलचल पर पैनी नजर रखकर अपने �नवेश को सुर��त जरूर �कया जा सकता है। यहा ंहम बता रहे ह� ऐसे शेयर जो रह�ग ेआज खबर� म� और िजन पर होगी बाजार क� नजर। जी एंटरटेनम�ट �वत्त वषर् 2019 क� पहल� �तमाह� म� जी एंटरटेनम�ट का मुनाफा 31.2 फ�सद� बढ़कर 326 करोड़ रुपय ेहो गया है। �वत्त वषर् 2018 क� पहल� �तमाह� म� जी एंटरटेनम�ट का मुनाफा 248.2 करोड़ रुपय ेरहा था। वह�,ं �वत्त वषर् 2019 क� पहल� �तमाह� म� जी एंटरटेनम�ट क� आय 15 फ�सद� बढ़कर 1,772 करोड़ रुपय ेपर पहुंच गई है। �वत्त वषर् 2018 क� पहल� �तमाह� म� जी एंटरटेनम�ट क� आय 1,504.3 करोड़ रुपय ेरह� थी। साल दर साल आधार पर अप्रैल-जून �तमाह� म� जी एंटरटेनम�ट का ए�बटडा 484.4 करोड़ रुपय ेसे बढ़कर 565.7 करोड़ रुपय ेरहा है। सालाना आधार पर अप्रैल-जून �तमाह� म� जी एंटरटेनम�ट का ए�बटडा मािजर्न 31.4 फ�सद� से बढ़कर 31.9 फ�सद� रहा है। सालाना आधार पर पहल� �तमाह� म� जी एंटरटेनम�ट क� घरेलू �व�ापन आय 22.3 फ�सद� बढ़कर 1,087 करोड़ रुपय ेरह� है। सालाना आधार पर पहल� �तमाह� म� जी एंटरटेनम�ट क� घरेलू सब्स�क्रप्शन आय 12.3 फ�सद� बढ़कर 425.2 करोड़ रुपय ेरह� है। सरकार� ब�क सरकार पीएनबी म� 2,816 करोड़ रुपय ेक� नई पूंजी डालेगी। कॉरपोरेशन ब�क को 2,555 करोड़ रुपय ेक� पूंजी �मलेगी। इलाहाबाद ब�क को 1,790 करोड़ रुपये और आईओबी को 2,157 करोड़ रुपय े�मल�गे। सरकार आंध्रा ब�कम� 2,019 करोड़ रुपय ेक� पूंजी डालेगी। वह� ं�वत्त मंत्री पीयूष गोयल ब�क, एनबीएफसी और हाउ�संग फाइन�स कंप�नय� से मुलाकात करने वाल ेह�। 19 जुलाई क� बैठक म� �रयल एस्टेट म� सुधार पर चचार् होगी। �संटेक्स इंडस्ट्र�ज
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�वत्त वषर् 2019 क� पहल� �तमाह� म� �संटेक्स इंडस्ट्र�ज का मुनाफा 11.5 फ�सद� बढ़कर 39.1 करोड़ रुपय ेहो गया है। �वत्त वषर् 2018 क� पहल� �तमाह� म� �संटेक्स इंडस्ट्र�ज का मुनाफा 35.1 करोड़ रुपय ेरहा था। वह�,ं �वत्त वषर् 2019 क� पहल� �तमाह� म� �संटेक्स इंडस्ट्र�ज क� आय 34.6 फ�सद� बढ़कर 925.3 करोड़ रुपये पर पहुंच गई है। �वत्त वषर् 2018 क� पहल� �तमाह� म� �संटेक्स इंडस्ट्र�ज क� आय 687.6 करोड़ रुपय ेरह� थी। साल दर साल आधार पर अप्रैल-जून �तमाह� म� �संटेक्स इंडस्ट्र�ज का ए�बटडा 75.6 करोड़ रुपय ेस ेबढ़कर 109.9 करोड़ रुपय ेरहा है। सालाना आधार पर अप्रैल-जून �तमाह� म� �संटेक्स इंडस्ट्र�ज का ए�बटडा मािजर्न 11 फ�सद� से बढ़कर 11.9 फ�सद� रहा है। िजंदल स्टेनलेस �वत्त वषर् 2019 क� पहल� �तमाह� म� िजंदल स्टेनलेस का मुनाफा 119 फ�सद� बढ़कर 90.85 करोड़ रुपय ेहो गया है। �वत्त वषर् 2018 क� पहल� �तमाह� म� िजंदल स्टेनलेस का मुनाफा 41.5 करोड़ रुपय ेरहा था। वह�ं, �वत्त वषर् 2019 क� पहल� �तमाह� म� िजंदल स्टेनलेस क� �बक्र� 32 फ�सद� बढ़कर 3,146 करोड़ रुपय ेपर पहुंच गई है। �वत्त वषर् 2018 क� पहल� �तमाह� म� िजंदल स्टेनलेस क� �बक्र� 2,373 करोड़ रुपय ेरह� थी। साल दर साल आधार पर अप्रैल-जून �तमाह� म� िजंदल स्टेनलेस का ए�बटडा 250.5 करोड़ रुपय ेसे बढ़कर 375 करोड़ रुपय ेरहा है। सालाना आधार पर अप्रैल-जून �तमाह� म� िजंदल स्टेनलेस का ए�बटडा मािजर्न 11.4 फ�सद� से बढ़कर 11.9 फ�सद� रहा है। रै�लस इं�डया �वत्त वषर् 2019 क� पहल� �तमाह� म� रै�लस इं�डया का मुनाफा 20.5 फ�सद� बढ़कर 54.6 करोड़ रुपय ेहो गया है। �वत्त वषर् 2018 क� पहल� �तमाह� म� रै�लस इं�डया का मुनाफा 45.3 करोड़ रुपय ेरहा था। वह�ं, �वत्त वषर् 2019 क� पहल� �तमाह� म� रै�लस इं�डया क� आय 25 फ�सद� बढ़कर 573 करोड़ रुपय ेपर पहुंच गई है। �वत्त वषर् 2018 क� पहल� �तमाह� म� रै�लस इं�डया क� आय 459 करोड़ रुपय ेरह� थी। साल दर साल आधार पर अप्रैल-जून �तमाह� म� रै�लस इं�डया का ए�बटडा 69.4 करोड़ रुपय ेसे बढ़कर 83.1 करोड़ रुपय ेरहा है। सालाना आधार पर अप्रैल-जून �तमाह� म� रै�लस इं�डया का ए�बटडा मािजर्न 15.1 फ�सद� से घटकर 14.5 फ�सद� रहा है। टाटा स्पॉन्ज �वत्त वषर् 2019 क� पहल� �तमाह� म� टाटा स्पॉन्ज का मुनाफा 49 फ�सद� बढ़कर 45.5 करोड़ रुपय ेहो गया है। �वत्त वषर् 2018 क� पहल� �तमाह� म� टाटा स्पॉन्ज का मुनाफा 30.6 करोड़ रुपय ेरहा था। वह�,ं �वत्त वषर् 2019 क� पहल� �तमाह� म� टाटा स्पॉन्ज क� �बक्र� 49.1 फ�सद� बढ़कर 260.9 करोड़ रुपये पर पहुंच गई है। �वत्त वषर् 2018 क� पहल� �तमाह� म� टाटा स्पॉन्ज क� �बक्र� 175 करोड़ रुपय ेरह� थी। साल दर साल आधार पर अप्रैल-जून �तमाह� म� टाटा स्पॉन्ज का ए�बटडा 38.6 करोड़ रुपय ेसे बढ़कर 60.2 करोड़ रुपय ेरहा है। सालाना आधार पर अप्रैल-जून �तमाह� म� टाटा स्पॉन्ज का ए�बटडा मािजर्न 20.2 फ�सद� से बढ़कर 23.1 फ�सद� रहा है। एचडीएफसी ब�क / एचडीएफसी एचडीएफसी को एचडीएफसी ब�क 3.91 करोड़ प्रेफर��शयल शेयर जार� करेगा। 2,174 रुपय ेप्र�त शेयर भाव पर प्रेफर��शयल शेयर जार� ह�गे। साथ ह� आज एचडीएफसी एएमसी के आईपीओ का एलान होगा। एचडीएफसी एएमसी का आईपीओ 25 जुलाई से खुलेगा। एचडीएफसी एएमसी के आईपीओ का प्राइस ब�ड 1095-1100 रुपय ेहोगा। एचडीएफसी एएमसी क� आईपीओ से कर�ब 2,800 करोड़ रुपय ेजुटाने क� योजना है। बलरामपुर चीनी / धामपुर शुगर कै�बनेट आज गन्ने के दाम बढ़ाने पर �वचार करेगी। गन्ने का भाव 20 रुपय ेबढ़ाकर 275 रुपये प्र�त िक्वंटल �कया जा सकता है।
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Weblink: https://www.bloombergquint.com/markets/2018/07/18/all-you-need-to-know-going-into-trade-on-july-18
Date 18-07-2018 Website www.bloombergquint.com
https://www.bloombergquint.com/markets/2018/07/18/all-you-need-to-know-going-into-trade-on-july-18
All You Need To Know Going Into Trade On July 18 Jindal Stainless (Q1, YoY)
• Revenue up 56 percent at Rs 3,147 crore. • Net profit at Rs 91 crore versus Rs 41.5 crore. • Ebitda up 50 percent at Rs 375 crore. • Margin at 11.9 percent versus 12.4 percent.
Weblink: https://www.indiatoday.in/pti-feed/story/jindal-stainless-jun-qtr-net-profit-jumps-to-rs-91-cr-1288355-2018-07-17
Date 17-07-2018 Website www.indiatoday.in
Jindal Stainless Jun Qtr net profit jumps to Rs.91cr Jindal Stainless Ltd today said its standalone net profit more than doubled to Rs 90.85 crore during the quarter ended June 30, mainly driven by higher sales volume. The company had clocked a standalone net profit of Rs 41.50 crore in the same period a year ago. Its total income increased to Rs 3,152.53 crore in the first quarter of this fiscal from Rs 2,203.86 crore in the corresponding period of the previous fiscal, JSL said in a BSE filing. In a separate statement, the country's largest stainless steel maker said: "The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernisation, and auto segment, among others. A buoyant market for stainless steel led to higher sales volumes growth of 51 per cent". JSL MD Abhyuday Jindal said, the company's plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. "We...target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay," he was quoted in the statement.
Weblink: https://www.outlookindia.com/newsscroll/jindal-stainless-jun-qtr-net-profit-jumps-to-rs-91-cr/1351414
Date 17-07-2018 Website www.outlookindia.com
Jindal Stainless Jun Qtr net profit jumps to Rs.91cr Jindal Stainless Ltd today said its standalone net profit more than doubled to Rs 90.85 crore during the quarter ended June 30, mainly driven by higher sales volume. The company had clocked a standalone net profit of Rs 41.50 crore in the same period a year ago. Its total income increased to Rs 3,152.53 crore in the first quarter of this fiscal from Rs 2,203.86 crore in the corresponding period of the previous fiscal, JSL said in a BSE filing. In a separate statement, the country's largest stainless steel maker said: "The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernisation, and auto segment, among others. A buoyant market for stainless steel led to higher sales volumes growth of 51 per cent". JSL MD Abhyuday Jindal said, the company's plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. "We...Target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay," he was quoted in the statement.
Weblink: http://equitybulls.com/admin/news2006/news_det.asp?id=232356
Date 17-07-2018 Website http://equitybulls.com/
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Jindal Stainless Ltd Q1 net profit soars to Rs.90.85 crore JINDAL STAINLESS LTD. has reported financial results for the period ended June 30, 2018. The company has reported net sales of Rs.3152.53 crores during the 3 months period ended June 30, 2018 as compared to Rs.2203.86 crores during the 3 months period ended June 30, 2017. The company has posted net profit of Rs.90.85 crores for the 3 months period ended June 30, 2018 as against Rs.41.50 crores for the 3 months period ended June 30, 2017. The company has reported EPS of Rs.1.63 for the 3 months period ended June 30, 2018 as compared to Rs.0.88 for the 3 months period ended June 30, 2017. Financials Q1 FY18-19 Q1 FY17-18 % Change Total Income ₹ 3152.53 crs ₹ 2203.86 crs 43.05% Net Profit ₹ 90.85 crs ₹ 41.50 crs 118.92% EPS ₹ 1.63 ₹ 0.88 85.23% Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.58.2 as compared to the previous close of Rs. 59.2. The total number of shares traded during the day was 59173 in over 526 trades. The stock hit an intraday high of Rs. 59.75 and intraday low of 57. The net turnover during the day was Rs. 3446145.
Weblink: http://equitybulls.com/admin/news2006/news_det.asp?id=232364
Date 18-07-2018 Website http://equitybulls.com
http://equitybulls.com/admin/news2006/news_det.asp?id=232364
Jindal Stainless Limited posts 2x jump in Q1 PAT After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs 91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY. EBIDTA for the quarter surged by 50% over CPLY, reaching Rs 375 crore. In CPLY, finance costs were extraordinarily lower on account of interest refund. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, "Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum." The Indian stainless steel market, however, continued to deal with a heavy flow of subsidised imports. Even after Indian government imposed countervailing duty (CVD) in September last year on imports of stainless steel from China, the duty is being circumvented as Chinese material is now being routed through other free-trade agreement (FTA) countries. In light of several developed countries across the globe undertaking strong measures to safeguard their domestic manufacturing industries, it is high time that the Indian government also took such bold measures to protect the interests of local manufacturers. This includes complete staunching of CVD circumvention, and revisiting the very purpose of existing FTAs creating huge trade imbalances. The Indian stainless steel industry has also sought government's support in removal of 2.5% import duty on ferro-nickel and stainless steel scrap, both of which are not available domestically. These would be the pre-requisites for the domestic industry to realize its full Follow Privacy Privacy Like Share 692 people like this. Sign Up to see what your friends like. Stocks to Buy Online Application Forms Ads by Google Coca Cola Jobs Gold Rate Today Ads by Google 7/19/2018 Jindal Stainless Limited posts 2x jump in Q1 PAT - EquityBulls.com http://equitybulls.com/admin/news2006/news_det.asp?id=232364 2/5 potential under the Make in India initiative of the government, and get a level playing field with foreign competitors. On a sequential basis also, JSL registered a marginal dip in sales (-1%) and EBIDTA (-3%), despite the first quarter of the FY witnessing a traditional slack combined with a steep increase in raw material prices and consumables such as nickel and electrodes. Interest cost increased on account of an exceptional interest credit of Rs 17 crores in Q4FY18 and short term increase in working capital utilisation. On a sequential basis, the difference in PAT can be ascribed to a combination of these factors. Performance of JSL's subsidiaries continued the uptrend. Iber Jindal Spain and PTJSI, Indonesia registered a CPLY growth of 32% and 6% in net revenue respectively, during the quarter. The company is poised to witness stainless steel demand growth from Indian Railways, as the latter is set to enhance stainless steel coach production. Newly introduced BS-VI norms for automobile are also expected to boost stainless steel consumption. Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.58.2 as compared to the previous close of Rs. 59.2. The total number of shares traded during the day was 59173 in over 526 trades. The stock hit an intraday high of Rs. 59.75 and intraday low of 57. The net turnover during the day was Rs. 3446145.
Weblink: https://www.steel-360.com/press-releases-awards/jindal-stainless-limited-consolidates-its-position-posts-2x-jump-in-q1-pat
Date 18-07-2018 Website www.steel-360.com
https://www.steel-360.com/press-releases-awards/jindal-stainless-limited-consolidates-its-position-posts-2x-jump-in-q1-pathttps://www.steel-360.com/press-releases-awards/jindal-stainless-limited-consolidates-its-position-posts-2x-jump-in-q1-pat
Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs 91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY. EBIDTA for the quarter surged by 50% over CPLY, reaching Rs 375 crore. In CPLY, finance costs were extraordinarily lower on account of interest refund. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, “Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum.”
Weblink: http://www.ferroalloynet.com/news/jindal_stainless_limited_posts_2x_jump_in_q1_pat.html
Date 19-07-2018 Website www.ferroalloynet.com
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Jindal Stainless Limited posts 2x jump in Q1 PAT URL: http://www.ferroalloynet.com/news/jindal_stainless_limited_posts_2x_jump_in_q1_pat.html
Posted: Thu, 19 Jul 2018 01:41:00 GMT [0 days ago]
Keywords: Nickel Ore\Ferro Nickel
Channel: Business Movement
Tags: Nickel OreFerro Nickel
Summary: After registering a robust turnaround in FY , Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q FY , despite being a seasonally low first quarter. The growth stemmed ...
Weblink: http://energyinfrapost.com/jindal-stainless-limited-consolidates-position-posts-2x-jump-q1-pat/
Date 18-07-2018 Website http://energyinfrapost.com
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Jindal Stainless Limited Consolidates Its Position, Posts 2x Jump In Q1 PAT After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs.91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY.
Weblink: http://www.railnews.in/jindal-stainless-limited-consolidates-its-position-posts-2x-jump-in-q1-pat/
Date 17-07-2018 Website www.railnews.in
http://www.railnews.in/jindal-stainless-limited-consolidates-its-position-posts-2x-jump-in-q1-pat/
Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT The Company is poised to witness Stainless Steel demand growth from Indian Railways, as the latter is set to enhance Stainless Steel Coach production in the next few months. Q1 FY-19 Key Highlights
Particulars Q1 FY 18-19 Q1 FY17-18 Growth
PAT 91 41 119%
Net Revenue 3,147 2,015 56%
EBIDTA 375 251 50%
Standalone (in Rs crore)
After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs.91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY. EBIDTA for the quarter surged by 50% over CPLY, reaching Rs 375 crore. In CPLY, finance costs were extraordinarily lower on account of interest refund. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, “Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA
to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum.” The Indian stainless steel market, however, continued to deal with a heavy flow of subsidised imports. Even after Indian government imposed countervailing duty (CVD) in September last year on imports of stainless steel from China, the duty is being circumvented as Chinese material is now being routed through other free-trade agreement (FTA) countries. In light of several developed countries across the globe undertaking strong measures to safeguard their domestic manufacturing industries, it is high time that the Indian government also took such bold measures to protect the interests of local manufacturers. This includes complete staunching of CVD circumvention, and revisiting the very purpose of existing FTAs creating huge trade imbalances. The Indian stainless steel industry has also sought government’s support in removal of 2.5% import duty on ferro-nickel and stainless steel scrap, both of which are not available domestically. These would be the pre-requisites for the domestic industry to realize its full potential under the Make in India initiative of the government, and get a level playing field with foreign competitors. On a sequential basis also, JSL registered a marginal dip in sales (-1%) and EBIDTA (-3%), despite the first quarter of the FY witnessing a traditional slack combined with a steep increase in raw material prices and consumables such as nickel and electrodes. Interest cost increased on account of an exceptional interest credit of Rs 17 crores in Q4FY18 and short term increase in working capital utilisation. On a sequential basis, the difference in PAT can be ascribed to a combination of these factors. Performance of JSL’s subsidiaries continued the uptrend. Iber Jindal Spain and PTJSI, Indonesia registered a CPLY growth of 32% and 6% in net revenue respectively, during the quarter. The company is poised to witness stainless steel demand growth from Indian Railways, as the latter is set to enhance stainless steel coach production. Newly introduced BS-VI norms for automobile are also expected to boost stainless steel consumption.
Weblink: https://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-posts-june-quarter-profit-9085-mln-rupees-1249314
Date 17-07-2018 Website https://in.investing.com
India's Jindal Stainless Posts June Quarter Profit 908.5 Mln Rupees Jindal Stainless Ltd JIST.NS : * JUNE QUARTER PROFIT 908.5 MILLION RUPEES VERSUS 415.0 MILLION RUPEES YEAR AGO * JUNE QUARTER REVENUE FROM OPERATIONS 31.47 BILLION RUPEES VERSUS 21.94 BILLION RUPEES YEAR AGO
Weblink: https://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-says-target-to-increase-jajpur-capacity-1249352
Date 17-07-2018 Website https://in.investing.com/
https://in.investing.com/equities/jindal-stainlesshttps://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-says-target-to-increase-jajpur-capacity-1249352https://in.investing.com/news/stock-market-news/briefindias-jindal-stainless-says-target-to-increase-jajpur-capacity-1249352
India's Jindal Stainless Says Target To Increase Jajpur Capacity Jindal Stainless Ltd JIST.NS : * SAYS TARGET TO INCREASE JAJPUR CAPACITY FROM 0.8 MTPA TO 1.1 MTPA IN NEAR FUTURE
Weblink: https://bharatiyadigitalnews.in/business/new-delhi-jindal-stainlesss-profit-doubled-to-rs-91-crores-news-in-hindi/
Date 17-07-2018 Website https://bharatiyadigitalnews.in/
https://in.investing.com/equities/jindal-stainless
िजंदल स्टेनलेस का मुनाफा दोगुना बढ़कर 91 करोड़ रुपय े
चालू �वत्त वषर् क� पहल� �तमाह� म� िजंदल स्टेनलेस �ल�मटेड (जेएसएल) के मुनाफे म� �पछल ेसाल क� समान �तमाह� क� तुलना म� दोगुने से अ�धक क� बढ़ोतर� दजर् क� गई है। मुनाफा 90.85 करोड़ रुपय ेरहा। कंपनी न ेमंगलवार को यह जानकार� द� और कहा �क मुनाफे म� वृ�द्ध का मुख्य कारण �बक्र� म� आई तेजी है। कंपनी ने बताया �क �वत्त वषर् 2017-18 क� पहल� �तमाह� (अप्रैल-जून) म� कंपनी का मुनाफा 41.50 करोड़ रुपय ेथा। जेएसएल न ेबॉम्ब ेस्टॉक एक्सच�ज म� �नयामक�य फाइ�लंग म� कहा �क समी�ाधीन अव�ध म� उसका राजस्व बढ़कर 3,152.53 करोड़ रुपय ेहो गया, जब�क �पछल े�वत्त वषर् क� पहल� �तमाह� म� यह 2,203.86 करोड़ रुपय ेथा। जेएसएल के प्रबंध �नदेशक अभ्युदय िजंदल ने कहा, `ओ�डशा के जाजपुर म� हमारा संयंत्र दु�नया क ेसबसे आधु�नक स्टेनलेस स्ट�ल संयंत्र� म� से एक ह ैजो अत्याधु�नक सु�वधाओं से लैस है। बाजार को लेकर हमारा दृिष्टकोण �बक्र� के अनुकूल है। उन्ह�ने कहा, `हम �नकट भ�वष्य म� 0.8 एमट�पीए से 1.1 एमट�पीए तक �मता बढ़ाने जा रहे ह�। कंपनी �पछल ेदो �वत्त वष� से जार� बेहतर �वत्तीय प्रदशर्न के आधार पर कॉप�रेट ऋण पुनगर्ठन योजना (सीडीआर) से बाहर �नकलने के �लए पात्र बन गई है। कजर्दाताओ ंके संघ ने पहले ह� कंपनी क े�लए सीडीआर से �नकास क� �सफा�रश क� है और �फलहाल मामला सीडीआर फोरम म� लं�बत है।`
Weblink: https://indiannewsdiary.blogspot.com/2018/07/jindal-stainless-achieved-strong.html
Date 17-07-2018 Website https://indiannewsdiary.blogspot.com/
Jindal Stainless achieved strong revenue and sales growth in Q1 FY19 Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs 91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Commenting on the performance of the quarter, Abhyuday Jindal, Managing Director, JSL, said, “Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum.” The Indian stainless steel market, however, continued to deal with a heavy flow of subsidised imports. Even after Indian government imposed countervailing duty (CVD) in September last year on imports of stainless steel from China, the duty is being circumvented as Chinese material is now being routed through other free-trade agreement (FTA) countries. In light of several developed countries across the globe undertaking strong measures to safeguard their domestic manufacturing industries, it is high time that the Indian government also took such bold measures to protect the interests of local manufacturers. This includes complete staunching of CVD circumvention, and revisiting the very purpose of existing FTAs creating huge trade imbalances. The Indian stainless steel industry has also sought government’s support in removal of 2.5% import duty on ferro-nickel and stainless steel scrap, both of which are not available domestically. These would be the pre-requisites for the domestic industry to realize its full potential under the Make in India initiative of the government, and get a level playing field with foreign competitors. On a sequential basis also, JSL registered a marginal dip in sales (-1%) and EBIDTA (-3%), despite the first quarter of the FY witnessing a traditional slack combined with a steep increase in raw material prices and consumables such as nickel and electrodes. Interest cost increased on account of an exceptional interest credit of Rs 17 crores in Q4FY18 and short term increase in working capital utilisation. On a sequential basis, the difference in PAT can be ascribed to a combination of these factors. Performance of JSL’s subsidiaries continued the uptrend. Iber Jindal Spain and PTJSI, Indonesia registered a CPLY growth of 32% and 6% in net revenue respectively, during the quarter. The company is poised to witness stainless steel demand growth from Indian Railways, as the latter is set to enhance stainless steel coach production. Newly introduced BS-VI norms for automobile are also expected to boost stainless steel consumption.
Weblink: https://searchtopnewsupdates.blogspot.com/2018/07/jindal-stainless-limited-consolidates.html
Date 17-07-2018 Website https://searchtopnewsupdates.blogspot.com/
Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT Q1 FY 19 key highlights Standalone (in Rs crore)
Particulars Q1 FY 18-19 Q1 FY17-18 Growth PAT 91 41 119% Net Revenue 3,147 2,015 56% EBIDTA 375 251 50%
After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs 91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY. EBIDTA for the quarter surged by 50% over CPLY, reaching Rs 375 crore. In CPLY, finance costs were extraordinarily lower on account of interest refund. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, “Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum.” The Indian stainless steel market, however, continued to deal with a heavy flow of subsidised imports. Even after Indian government imposed countervailing duty (CVD) in September last year on imports of stainless steel from China, the duty is being circumvented as Chinese material is now being routed through other free-trade agreement (FTA) countries. In light of several developed countries across the globe undertaking strong measures to safeguard their domestic manufacturing industries, it is high time that the Indian government also took such bold measures to protect the interests of local manufacturers. This includes complete staunching of CVD circumvention, and revisiting the very purpose of existing FTAs creating huge trade imbalances. The Indian stainless steel industry has also sought government’s support in removal of 2.5% import duty on ferro-nickel and stainless steel scrap, both of which are not available domestically. These would be the pre-requisites for the domestic industry to realize its full potential under the Make in India initiative of the government, and get a level playing field with foreign competitors.
On a sequential basis also, JSL registered a marginal dip in sales (-1%) and EBIDTA (-3%), despite the first quarter of the FY witnessing a traditional slack combined with a steep increase in raw material prices and consumables such as nickel and electrodes. Interest cost increased on account of an exceptional interest credit of Rs 17 crores in Q4FY18 and short term increase in working capital utilisation. On a sequential basis, the difference in PAT can be ascribed to a combination of these factors. Performance of JSL’s subsidiaries continued the uptrend. Iber Jindal Spain and PTJSI, Indonesia registered a CPLY growth of 32% and 6% in net revenue respectively, during the quarter. The company is poised to witness stainless steel demand growth from Indian Railways, as the latter is set to enhance stainless steel coach production. Newly introduced BS-VI norms for automobile are also expected to boost stainless steel consumption.
Weblink: https://searchtopnewsupdates.wordpress.com/2018/07/17/jindal-stainless-limited-consolidates-its-position-posts-2x-jump-in-q1-pat/
Date 17-07-2018 Website https://searchtopnewsupdates.wordpress.com/
Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT Q1 FY 19 key highlights Standalone (in Rs crore)
Particulars Q1 FY 18-19 Q1 FY17-18 Growth
PAT 91 41 119%
Net Revenue 3,147 2,015 56%
EBIDTA 375 251 50%
After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs 91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY. Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY. EBIDTA for the quarter surged by 50% over CPLY, reaching Rs 375 crore. In CPLY, finance costs were extraordinarily lower on account of interest refund. Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, “Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum.” The Indian stainless steel market, however, continued to deal with a heavy flow of subsidised imports. Even after Indian government imposed countervailing duty (CVD) in September last year on imports of stainless steel from China, the duty is being circumvented as Chinese material is now being routed through other free-trade agreement (FTA) countries. In light of several developed countries across the globe undertaking strong measures to safeguard their domestic manufacturing industries, it is high time that the Indian government also took such bold measures to protect the interests of local manufacturers. This includes complete staunching of CVD circumvention, and revisiting the very purpose of existing FTAs creating huge trade imbalances. The Indian stainless steel industry has also sought government’s support in removal of 2.5% import duty on ferro-nickel and stainless steel scrap, both of which are not available domestically. These would be the pre-requisites for the domestic industry to realize its full potential under the Make in India initiative of the government, and get a level playing field with foreign competitors. On a sequential basis also, JSL registered a marginal dip in sales (-1%) and EBIDTA (-3%), despite the first quarter of the FY witnessing a traditional slack combined with a steep increase in raw material prices and consumables such as nickel and electrodes. Interest cost increased on account of an exceptional interest credit of Rs 17 crores in Q4FY18 and short term
increase in working capital utilisation. On a sequential basis, the difference in PAT can be ascribed to a combination of these factors. Performance of JSL’s subsidiaries continued the uptrend. Iber Jindal Spain and PTJSI, Indonesia registered a CPLY growth of 32% and 6% in net revenue respectively, during the quarter. The company is poised to witness stainless steel demand growth from Indian Railways, as the latter is set to enhance stainless steel coach production. Newly introduced BS-VI norms for automobile are also expected to boost stainless steel consumption.
