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
JSW Steel Ltd. reported highest ever Ebitda (beat to our estimate) of Rs 102 billion (up 6.7 times y-o-y) in Q1 FY22.
Improvement in product mix and increase in usage of captive iron ore led to Ebitda beat.
JSW Steel’s domestic automotive sales increased by five times y-o-y, while India’s automotive production grew by three times y-o-y in Q1 FY22.
Overall, its sales volumes were higher by 29% y-o-y to 3.6 million tonnes but fell 11% q-o-q as second wave of Covid-19 affected demand.
The company aims to increase its steel capacity to 30 million tonnes per annum by FY25 from 18 million tonnes per annum currently.
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