Jindal Steel And Power Q1 Review - Strong All-Round Performance Despite Weakness In Realisation: IDBI Capital

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Jindal Steel and Power Ltd.’s Q1 FY25 revenue and profitability were ahead of our forecast. Revenue was up 1% QoQ to Rs 136.2 billion, driven by a volumes growth of 4% QoQ on the back of strong domestic demand and higher sale of HSM products. However, realisation declined by 2% QoQ due to weak steel prices. The contribution of value added products in total volumes stood at 60% in Q1 FY25 (versus 63% in Q1 FY24). Ebitda margin expanded 273 bps QoQ, led by decline in coking coal and iron ore price. Also, Ebitda/tonne improved QoQ to Rs 13,585. JSPL is confident of maintaining 2 million tonne quarterly run rate in FY25. We cut our FY25E/FY26E Ebitda estimate by 4%/6%, respectively and value the stock based on EV/Ebitda multiple of seven times FY26E Ebitda to derive a target price of Rs 952 (earlier Rs 863). We maintain Hold rating on the stock given our neutral stance on the steel sector due to rising exports from China..Click on the attachment to read the full report:.Jindal Steel And Power Q1 Results: Profit Falls 21%, Revenue Rises.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Jindal Steel And Power Q1 Review - Strong All-Round Performance Despite Weakness In Realisation: IDBI Capital

The brokerage maintains Hold rating on the stock given our neutral stance on the steel sector due to rising exports from China.

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Jindal Steel And Power Q1 Review - Strong All-Round Performance Despite Weakness In Realisation: IDBI Capital

The brokerage maintains Hold rating on the stock given our neutral stance on the steel sector due to rising exports from China.

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