6 May 2022 , 10:05 AM
The Company recorded a robust quarter owing to new product development, quality improvement and capacity building for its value-added product portfolio.
During Q4FY22, JSHL’s Specialty Products Division (SPD) achieved highest ever total sales of Blade Steel and Precision Strips, with SPD’s total sales increasing by 32% in FY22 over FY21. JSHL’s standalone revenue, EBITDA and PAT jumped by 38%, 47% and 58% respectively during Q4FY22 over CPLY (corresponding period last year). On a consolidated basis, Company’s Q4FY22 revenue, EBITDA and PAT stood at Rs4,318 crore, Rs605 crore and Rs575 crore respectively. Net external debt stood at Rs1,605 crore as on March 31, 2022, with debt-to-equity ratio reduced to ~0.5. Interest cost reduced by 26% to Rs31 crore for Q4FY22 as compared to CPLY.
Jindal Stainless Steelway Limited (JSSL), the service centre arm of JSHL, recorded a net revenue of Rs659 crore during Q4FY22, a 24% hike on YoY basis, with an EBITDA of Rs33 crore. During Q4FY22, JSHL’s lifestyle subsidiary, JSL Lifestyle Limited’s net revenue, EBITDA and PAT were recorded at Rs131 crores, Rs14 crore and Rs6 crore respectively over CPLY.
JSHL continued to augment new product development for the domestic market and delivered critical stainless steel grades for key non-coastal area applications, along with key domestic projects in the agriculture and nuclear sectors. The Company also enhanced its digitization initiatives during Q4FY22 by increasing usage of online payment gateway and commerce portal. The Company also introduced a new feature of product & MTC authentication and enabled a seamless customer experience for its existing users and their end-customers.
Consolidated performance:
We are also committed to creating opportunities for increased usage of stainless steel in varied applications by developing new grades and specialty stainless steel products for critical applications. Going ahead, we will continue our efforts to harness renewable energy and set up an infrastructure to effectively reduce carbon emissions.”
On Friday early morning trade, Jindal Stainless (Hisar) was trading at Rs332.60 per piece lower by 2.03% on the BSE.
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