Motilal Oswal: JSW Steel  -Strong Project Pipeline To Drive Growth
The logo of JSW Bengal Steel Ltd. is seen in Salboni, India (Photographer: Adeel Halim/Bloomberg)

Motilal Oswal: JSW Steel -Strong Project Pipeline To Drive Growth

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.

Motilal Oswal Report

JSW Steel Ltd.’s Q2 FY21 results were impressive as consolidated Ebitda grew 85% YoY to Rs 42.5 billion, beating our estimates by 24%.

The beat was led by lower costs, leading to standalone Ebitda/tonne of Rs 10,136 (our estimate Rs 8,754).

We expect Q3 FY21 margins to be even stronger as higher steel prices (hot-rolled coil price currently is Rs 4,000/tonne higher than Q2) and upward revision in fixed price contracts should lead to higher realization.

Click on the attachment to read the full report:

Motilal Oswal JSW Steel Q2FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.