JSW Steel Posts Strong Operating Q3 Performance, Valuations Fair: IDBI Capital
The logo of JSW Bengal Steel Ltd. is seen in Salboni, India (Photographer: Adeel Halim/Bloomberg)

JSW Steel Posts Strong Operating Q3 Performance, Valuations Fair: IDBI Capital


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

JSW Steel Ltd.’s Q3 FY21 operating result was in line with our expectation. Its standalone Ebitda/tonne increased to Rs 14,444 (up 154% YoY, up 118% QoQ) led by higher steel prices, better product mix and inventory liquidation.

However, sales volumes declined 3.2% YoY to 3.9 million tonne as shortage of iron ore persisted.

Consolidated net debt remained flat QoQ at Rs 518 billion. We raise our FY21 realisation and Ebitda estimates given sharp rise in steel prices during December which we expect to sustain.

Click on the attachment to read the full report:

IDBI Capital JSW Steel Q3FY21 Result Update.pdf


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