Jindal Stainless Q4 Review - Improved Profitability; Poised For Growth: Centrum Broking
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Centrum Broking Report
Jindal Stainless Ltd. reported better than expected Ebitda of Rs 5.4 billion (our estimate: Rs 4.6 billion) up 15% QoQ/ 145% YoY due to better-than-expected gross profit.
The higher sale in the domestic market (84% versus 80% in Q3) owing to improved demand from major consuming sectors led to increase in profitability.
Merger with Jindal Stainless (Hisar) is expected to be completed in H2 FY22, providing strong balance sheet which can fund future growth via internal accurals.
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