Jindal Stainless Ltd's Q4FY18 standalone net profit declines 3.1% yoy to Rs136cr

The company’s standalone revenue stood at Rs3,173cr, up 28.6% yoy and 6.2% qoq.

Apr 25, 2018 06:04 IST India Infoline Research Team

Jindal Stainless Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 3,173 28.6
EBITDA 388 24.1
EBITDA Margin (%) 12.2 [44]
Net Profit (adjusted) 135.70 [3.2]
***EBITDA margin change is bps


Reco. Price


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Jindal Stainless Ltd, on a standalone basis, reported a strong growth in revenue but a slight decline in earnings growth for Q4FY18. Revenue grew by 28.6% yoy to Rs3,173cr. EBITDA stood at Rs388cr, up 24.1% yoy. EBIDTA margin fell by 44bps yoy to 12.2%. Adjusted Net Profit stood at Rs136 down 3.2% yoy, after adjusting for foreign exchange gains and losses.
  • Adjusted Net Profit for Q4FY18 stood lower than Q4FY17, as finance costs for Q4FY17 were significantly lower due to repayment of debt during Q4FY18.
  • Gross margins for the quarter stood at 35.4% against 38% in Q3FY18.
  • At the consolidated level, revenue for FY18 stood at Rs11,861cr, an increase of 19.2% yoy, while Net Profit over the same period grew by 316.3% to Rs346cr.
  • Solvency ratios for JSL, on a standalone basis, improved significantly from FY17 to FY18. Debt-to-equity improved from 3.2x to 2x. Debt Service Coverage Ratio improved from 0.8x to 1.3x. Interest Service Coverage Ratio improved from 1.5x to 2.45x.
  • Sales volumes rose by 21% yoy to 7.8 lakh tonnes for FY18

Technical View:

Jindal Stainless Ltd ended at Rs. 102.55, down by 2.05 points or 1.96% from its previous closing of Rs. 104.60 on the BSE.
The scrip opened at Rs. 104.95 and touched a high and low of Rs. 106.55 and Rs. 99 respectively. A total of 10,87,751 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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