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.
Prabhudas Lilladher Report
Jindal Steel and Power Ltd. reported Q2 FY22 Ebitda in line with our estimates; above consensus estimates by 4%.
JSPL reduced net debt by 82%/Rs 372 billion (including cash of Rs 30.4 billion to be received on closure of Jindal Power Ltd. deal) since FY17 through free cash flow generation and divestment of Oman steel operations and Jindal Power.
45% of the total reduction was contributed by divestments (40%) and issuance of equity (5%) while rest through operating cash flows.
Resultantly, current net debt/Ebitda fell to comfortable level of 0.6 times on normalised earnings assumed for FY23e with Ebitda/tonne at Rs 12,000 and accelerated capex on six million tonne expansion.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR