Jindal Stainless Q4 Review - Improved Profitability; Poised For Growth: Centrum Broking

A worker uses a blowtorch to add texture to stainless steel containers inside a manufacturing workshop  (Photographer: Vivek Prakash/Bloomberg)

Jindal Stainless Q4 Review - Improved Profitability; Poised For Growth: Centrum Broking

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.

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.

Click on the attachment to read the full report:

Centrum Broking Jindal Stainless - Q4FY21 Result Update .pdf

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