Jindal Stainless - On Steady Track: ICICI Securities
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ICICI Securities Report
We hosted the management of Jindal Stainless Ltd.
Management clarified the company’s product level strategy underlining the resurgence in demand that the 400 series sees in India.
Expansion from 1.9 million tonnes per annum to 2.9 million tonnes per annum stays on track.
Existing capacity will lead to 15-20% volume growth in FY22.
Management pointed at its continued focus on deleveraging and guided for start of dividend payout as merger between Jindal Stainless and Jindal Stainless Hissar Ltd. concludes, likely in the near term.
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