Jindal Stainless Financial Statements

Jindal Stainless Annually Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (5.90) 39.60 29.90 2.82
Op profit growth 25 (2.20) 104 55.50
EBIT growth 40.80 (13) 206 2,369
Net profit growth 488 (13) (115) (320)
Profitability ratios (%)        
OPM 11.70 8.80 12.60 8.02
EBIT margin 8.71 5.82 9.33 3.96
Net profit margin 3.44 0.55 0.88 (7.80)
RoCE 13.70 9 7.85 2.19
RoNW 3.54 0.79 1.16 (15)
RoA 1.35 0.21 0.18 (1.10)
Per share ratios ()        
EPS 8.61 1.49 2.08 --
Dividend per share -- -- -- --
Cash EPS 0.33 (7.30) (6.10) (38)
Book value per share 65.80 55.80 45.40 74.10
Valuation ratios        
P/E 7.85 16.10 34.20 --
P/CEPS 202 (3.30) (12) (0.40)
P/B 1.03 0.43 1.57 0.23
EV/EBIDTA 4.32 4.24 7.29 17.80
Payout (%)        
Dividend payout -- -- -- --
Tax payout (46) (55) (42) (31)
Liquidity ratios        
Debtor days 24.50 22.50 35.90 51.60
Inventory days 82.80 68.10 78.90 98.90
Creditor days (91) (71) (86) (93)
Leverage ratios        
Interest coverage (2.20) (1.30) (1.10) (0.30)
Net debt / equity 0.95 1.41 3.22 6
Net debt / op. profit 2.13 3.36 5.01 17.90
Cost breakup ()        
Material costs (64) (66) (62) (63)
Employee costs (1.50) (1.60) (1.70) (1.90)
Other costs (23) (23) (24) (27)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2017 Mar-2016
Revenue 12,188 12,951 9,279 7,144
yoy growth (%) (5.90) 39.60 29.90 2.82
Raw materials (7,809) (8,578) (5,734) (4,528)
As % of sales 64.10 66.20 61.80 63.40
Employee costs (178) (205) (154) (134)
As % of sales 1.46 1.58 1.66 1.88
Other costs (2,778) (3,028) (2,225) (1,909)
As % of sales 22.80 23.40 24 26.70
Operating profit 1,424 1,139 1,166 573
OPM 11.70 8.80 12.60 8.02
Depreciation (403) (425) (325) (316)
Interest expense (480) (586) (788) (1,030)
Other income 40.90 39.90 25.70 26.20
Profit before tax 582 169 78.20 (747)
Taxes (270) (93) (32) 232
Tax rate (46) (55) (42) (31)
Minorities and other (0.20) (1.30) 10 (0.70)
Adj. profit 312 74.70 55.70 (516)
Exceptional items 102 4.44 25.80 (40)
Net profit 419 71.30 81.60 (557)
yoy growth (%) 488 (13) (115) (320)
NPM 3.44 0.55 0.88 (7.80)
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2017 Mar-2016
Profit before tax 582 169 78.20 (747)
Depreciation (403) (425) (325) (316)
Tax paid (270) (93) (32) 232
Working capital (1,520) (1,961) (2,146) 2,384
Other operating items -- -- -- --
Operating cashflow (1,611) (2,310) (2,425) 1,552
Capital expenditure 1,733 (4,342) (5,805) (6,180)
Free cash flow 122 (6,652) (8,230) (4,627)
Equity raised 4,952 4,653 2,990 2,238
Investments 438 430 382 374
Debt financing/disposal (5,631) (6,413) (5,209) (1,372)
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (119) (7,983) (10,067) (3,387)
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 151 97.50 95.80 95.80
Preference capital -- -- 695 607
Reserves 3,054 2,620 2,495 2,369
Net worth 3,205 2,717 3,286 3,072
Minority interest
Debt 3,154 3,903 3,693 4,408
Deferred tax liabilities (net) 1,264 1,252 1,241 1,206
Total liabilities 7,636 7,885 8,231 8,695
Fixed assets 5,914 6,196 6,374 6,486
Intangible assets
Investments 456 449 454 439
Deferred tax asset (net) 803 1,061 1,109 1,147
Net working capital 348 111 250 560
Inventories 2,789 2,739 2,415 2,384
Inventory Days 83.50 77.20 -- --
Sundry debtors 934 705 919 907
Debtor days 28 19.90 -- --
Other current assets 526 521 508 555
Sundry creditors (2,663) (2,680) (2,535) (2,206)
Creditor days 79.80 75.50 -- --
Other current liabilities (1,237) (1,175) (1,057) (1,080)
Cash 116 68.70 45.20 63
Total assets 7,636 7,885 8,231 8,695
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 12,188 12,951 13,557 11,817 9,925
Excise Duty -- -- -- 179 646
Net Sales 12,188 12,951 13,557 11,638 9,279
Other Operating Income -- -- -- -- --
Other Income 149 44.30 45.50 65.30 63
Total Income 12,337 12,995 13,603 11,703 9,342
Total Expenditure ** 10,764 11,819 12,393 10,297 8,113
PBIDT 1,573 1,176 1,210 1,406 1,229
Interest 480 586 637 566 788
PBDT 1,093 590 573 840 441
Depreciation 403 425 352 320 325
Minority Interest Before NP -- -- -- -- --
Tax 0.98 20.20 3.26 2.34 --
Deferred Tax 269 72.40 73.30 172 32.50
Reported Profit After Tax 419 72.60 145 346 83
Minority Interest After NP 0.23 1.30 2.73 -- --
Net Profit after Minority Interest 419 71.30 142 346 83
Extra-ordinary Items 62.30 1.95 0.44 2.95 18.60
Adjusted Profit After Extra-ordinary item 357 69.40 142 343 64.50
EPS (Unit Curr.) 8.60 1.48 2.97 7.60 2.29
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 97.50 97.50 95.80 95.80 79.90
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 12.90 9.08 8.93 12.10 13.20
PBDTM(%) 8.96 4.56 4.23 7.21 4.75
PATM(%) 3.44 0.56 1.07 2.97 0.89
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