BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Jindal Steel and Power Ltd.'s Q2 FY22 Ebitda was in line with our forecast. Its Ebitda was flat QoQ (despite domestic sales volumes increasing by 32% QoQ to 2.1 million tonnes) on fall in pellet realisations and sharp increase in prices of coking coal.
The company’s volumes jumped QoQ despite sluggish demand in the domestic market as it stepped up exports. Importantly, JSPL’s net debt fell by Rs 41 billion QoQ to Rs 112 billion and it aims to become net debt free company by FY23.
Lastly, Jindal Power Ltd.'s divestment is approved by shareholders; JSPL expects the deal to be complete during FY22.
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