Jindal Stainless Q4 Review - Good Performance; Merger Process Progressing Well: ICICI Direct

An employee inspects a steel slab at the Jindal Stainless Ltd. factory in Hisar, Haryana, India. (Photographer: Udit Kulshrestha/Bloomberg)

Jindal Stainless Q4 Review - Good Performance; Merger Process Progressing Well: ICICI Direct

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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

Jindal Stainless Ltd.'s Q4 FY21 performance was better than our estimates on all fronts.

Topline of consolidated operations for Q4 FY21 was at Rs 3914 crore (up 26% YoY, 9% QoQ), higher than our estimate of Rs 3606 crore.

For Q4 FY21, the company reported consolidated Ebitda of Rs 542 crore, up 145% YoY, higher than our estimate of Rs 478 crore.

Ensuing consolidated profit after tax of the company for Q4 FY21 was at Rs 293 crore (higher than our estimate of Rs 181 crore).

In terms of key development, the merger process of Jindal Stainless Hisar Ltd. into Jindal Steel is progressing well and is expected to be completed in H2 FY22.

Click on the attachment to read the full report:

ICICI Direct Jindal Stainless Q4FY21 Result Update.pdf

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