JSPL: Profitability Beat, Deleveraging Continues In Q3: IDBI Capital 
A roll of raw steel passes through the hot dip galvanising production line. (Photographer: Jasper Juinen/Bloomberg)

JSPL: Profitability Beat, Deleveraging Continues In Q3: IDBI Capital 

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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.

IDBI Capital Report

Jindal Steel and Power Ltd. Q3 FY21 result was a strong beat. It reported highest ever consolidated Ebitda of Rs 42.5 billion (up 170% YoY) mainly driven by higher realisations and operating efficiencies.

Reported net profit stood at Rs 24 billion compared to net loss of Rs 2.5 billion in Q3 FY20. Even Jindal Power Ltd. continued to improve financial performance as its Ebitda grew 18% YoY to Rs 3 billion.

The company’s consolidated net debt fell by Rs 33 billion QoQ to Rs 256 billion as of December 31, 2020.

Its Oman plant divestment is likely to be completed by March 2021.

Click on the attachment to read the full report:

IDBI Capital Jindal Steel & Power Q3FY21 Result Update.pdf

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