Jindal Saw Ltd's Q4FY18 standalone net profit rises 45.1% yoy to Rs165.4cr

The company’s standalone revenue stood at Rs2,449cr, up 38.2% yoy and 15.8% qoq.

May 25, 2018 12:05 IST India Infoline Research Team

Jindal Saw Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 2,448.60 38.2
EBITDA 436 13.2
EBITDA Margin (%) 17.8 [392]
Net Profit (adjusted) 165.40 45.1
***EBITDA margin change is bps
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Buy

Reco. Price

96.6

Last updated on

15-May-2018


Jindal Saw reported a slight decline in profits in Q4FY18  despite strong growth in revenue and EBITDA. Revenue grew by 38.2% yoy to Rs2,449cr. EBITDA stood at Rs436cr, up 13.2% yoy. EBIDTA margin fell by 392bps yoy to 17.8%. Net Profit stood at Rs165.4cr, up 45.1% yoy.

  • Total Sale volumes of pipes and pig iron for FY18 stood at 11,76,000MT, up 13% yoy.
  • Breakdown of sale volumes of pipe products for FY18 are as follows - 5,35,000MT for Large Diameter SAW pipes; 4,15,000MT for Ductile Iron (DI) pipes; 58,000 for pig iron and 1,68,000 for Seamless Tubes.
  • Sales volumes for Pellets stood at 13,87,000MT.
  • Total order book at the end of FY18 stood at 9,97,000MT, which is equivalent to Rs6,100cr.
Conference Call Highlights:
  • The drag from subsidiaries is expected to reduce over the next few quarters. The inland waterways business is in final stages of arbitration and would soon be wound down. The management is also confident that the Abu Dhabi business (order book of 130k tonnes as on FY18) would turn profitable soon.
  • The anti-dumping duty (ADD) on DI pipes is expiring by the end of CY18. The industry has represented to govt to continue the ADD on DI pipes and the management is confident that the govt will concede to the industry's request.

Technical View:

Jindal Saw Ltd ended at Rs103.85, up by 0.6 points or 0.58% from its previous closing of Rs103.25 on the BSE. The scrip opened at Rs103.90 and touched a high and low of Rs106.70 and Rs102.75 respectively. A total of 12,26,854 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.


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