Jindal Saw Ltd's Q2FY19 standalone net profit rises 61% yoy to Rs100cr

The company’s standalone revenue in the quarter stood at Rs2,337cr, up 76.9% yoy and 2.3% qoq

Nov 12, 2018 11:11 IST India Infoline Research Team

Jindal Saw Ltd Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
Revenue 2,337 76.9
EBITDA 299 35.6
EBITDA Margin (%) 12.8 [389]
Net Profit (adjusted) 100 61
***EBITDA margin change is bps

Jindal Saw reported a strong yoy increase in profits for Q2FY19 on the back of a strong rise in offtake. Revenue in the quarter grew 76.9% yoy to Rs2,337cr. EBITDA stood at Rs299cr, up 35.6% yoy, while EBIDTA margin fell 389bps yoy to 12.8%. Net profit for the period under review stood at Rs100cr, up 61% yoy. 

  • Total production volumes of pipes in Q2FY19 stood at 332,000 MT, up 66% yoy.
  • Production volumes for pellets stood at 352000 MT, down 5.4% yoy.
  • Total order book at the end of H1FY19 stood at 1.3mn MT (pipes and pellets), equivalent to $1.04bn (~Rs7,600cr). Export orders stood at ~30%. The break-up of the order book is:
    • Large diameter: $610mn
    • Ductile Iron: $340mn
    • Seamless pipes & others: $60mn
    • Pellets: $30mn
  • Gross margins for the quarter expanded 74bps qoq due to seasonal weakness in steel prices.

Technical View:

Jindal Saw Ltd ended at Rs86.95, down 0.45 points, or 0.51%, from its previous close of Rs87.40 on the BSE. The scrip opened at Rs88.40 and touched a high and low of Rs88.55 and Rs86.20, respectively. A total of 8,41,432 (NSE+BSE) shares were traded on the counter. The stock traded below its 200-DMA.

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