JSW Steel Q4 Review - Strong Operating Performance; Massive Expansion Ahead: IDBI Capital
The JSW Steel Ltd. logo is displayed on an overhead conveyor at the company’s manufacturing facility in Dolvi, Maharashtra, India. (Photographer: Adeel Halim/Bloomberg)

JSW Steel Q4 Review - Strong Operating Performance; Massive Expansion Ahead: IDBI Capital


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IDBI Capital Report

JSW Steel Ltd.’s Q4 FY21 Ebitda was a beat.

Ebitda jumped 184% YoY at Rs 84 billion mainly on sharp increase in realisation; sales volumes grew 11% YoY to 4 million tonne.

Despite cash outflows of Rs 150 billion during FY21 (related to Bhushan Power and Steel Ltd. acquisition and expansions), its consolidated net debt declined by Rs 8.6 billion in FY21.

We raise our FY22/FY23 realization and Ebitda estimates given sharp rise in steel prices during Q4 FY21 which we expect to sustain.

Click on the attachment to read the full report:

IDBI Capital JSW Steel Q4FY21 Result Update.pdf


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