ICICI Direct: JSW Steel’s Healthy Q2 Performance To Continue Backed By Strong Steel Prices
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ICICI Direct Report
JSW Steel Ltd. reported a healthy set of Q2 FY21 numbers wherein topline, Ebitda and profit after tax came in higher than our estimate.
On a standalone basis, the company reported sales volume of 4.12 million tonnes (versus our estimate of 4.0 million tonne).
As domestic steel demand rebounded from recent lows and gained momentum, the company reduced the share of exports in its overall volume-mix.
In Q2 FY21, exports as a percentage of total sales fell to 28% versus 57% in Q1 FY21.
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