Q4FY23 Preview: JSW Steel: Revenue seen at Rs. 45,658 crore, PAT at Rs. 1,723 crore

17 May 2023 , 10:43 AM

Result date: 19^th May, 2023

Recommendation: Reduce

Target price: Rs. 682

(Source: IIFL Research)

JSW Steel could post 11-12% increase in sales volumes over the year-ago quarter (15-16% sequentially). Realization though could decline in high single digits on a year-on-year basis, though it could improve sequentially. Consolidated revenue could fall 2.2% over the year-ago quarter, but increase 17% sequentially. 

JSW Steel’s consolidated EBITDA could decline ~32% over the year ago quarter amid lower steel realization (offset in part by lower coking coal costs).

Profit After Tax (PAT) could decline 54% over the year-ago quarter.

Rs Crore	March 2023 estimates	YoY change	QoQ change
Revenue	45,658	(2.2)%	17.0%
EBITDA	6,259	(31.88)%	37.7%
Profit After Tax	1,723	(53.8)%	261.1%

Source: Brokerage estimates