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JSW Steel Q3FY22 Preview: Revenue seen at Rs367,970 million, PAT at Rs46,679 million

Higher prices of coking call, costs associated with Dolvi plant though are likely to impact operating and net profit margins of the company on a sequential basis.

January 21, 2022 7:27 IST | India Infoline News Service
Result date: 21st January, 2022
Recommendation: Add
Target price: Rs705
(Source: IIFL Research)

JSW Steel’s combined crude steel production at the group level stood at 5.35 million tonnes during the quarter, registering a YoY growth of 28%. Its standalone crude steel production grew 8% YoY to 4.41 million tonnes. During the quarter, company achieved a healthy capacity utilization of 94% on a standalone basis. Healthy volume growth will be reflected in its strong revenue growth for Q3.

Higher prices of coking call, costs associated with Dolvi plant though are likely to impact operating and net profit margins of the company on a sequential basis.

Important management insights to watch out for:
• Demand trends
• Update on expansion plans
• Margin levers for the future

Rs. Million December 2021 estimates YoY change QoQ change
Revenue 3,67,970 71.3% 15.3%
EBITDA          90,715 52.6% (12.9%)
PAT 46,679 74.1% (34.9%)
Source: Bloomberg consensus, BSE

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