ICICI Direct: JSW Steel’s Healthy Q2 Performance To Continue Backed By Strong Steel Prices
A winch carries a sealed steel coil over a storage area ahead of shipping (Photographer Krisztian Bocsi/Bloomberg)

ICICI Direct: JSW Steel’s Healthy Q2 Performance To Continue Backed By Strong Steel Prices

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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.

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.

Click on the attachment to read the full report:

ICICI Direct JSW Steel Q2FY21 Result Update.pdf

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