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.

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Motilal Oswal JSW Steel Q2FY21 Result Update.pdf


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