Result date: 20th January, 2023
Recommendation: Reduce
Target price: Rs718
Source: IIFL Research
JSW Steel is likely to post volume decline of 20% on a sequential basis. Realizations, on the other hand, could increase by 6.6% sequentially to Rs75,090/t. Elevated costs of coking coal will put pressure on overall profitability of the company. Consequently, EBITDA per ton could reduce on a sequential basis.
In this scenario, the company’s revenue could remain flattish sequentially.
As compared to net losses in the September 2022 quarter, the company is expected to post Profit After Tax (PAT) of Rs14 billion in the quarter.
Important management insights to watch out for:
Rs Million |
December 2022 estimates |
QoQ change |
Sales |
421 |
0.7% |
EBITDA |
48 |
171.4% |
PAT |
14 |
LTP |
Source: Brokerage reports, LTP stands for loss to profit
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