JSPL Q4 Review - Deleveraging Continues; Massive Expansion Announced: IDBI Capital
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IDBI Capital Report
Jindal Steel & Power Ltd.'s Q4 FY21 profitability was a beat.
It reported highest ever consolidated Ebitda of Rs 53 billion (up 153% YoY) mainly driven by higher realizations and operating efficiencies.
Its net debt fell by Rs 35 billion QoQ to Rs 138 billion.
Importantly, the company announced its intention to double its steel capacity at Angul from 6 million tonne per annum to 12 mtpa which would take the company’s total capacity to 16 mtpa with a capex of Rs 180 billion by FY25.
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