The Business Bytes
TBB BUREAU
NEW DELHI, MAY 3, 2022
Jindal Stainless Ltd (JSL) on Monday posted a 156 per cent jump in consolidated net profit at Rs 749.88 crore for the March quarter (Q4FY22), mainly on account of higher income.
In the year-ago quarter, its net profit stood at Rs 292.61 crore, the company said in a regulatory filing.
Total income in January-March 2022 rose to Rs 6,582.84 crore, from Rs 3,926.30 crore in the same quarter of 2020-21.
Total expenses were at Rs 5,885.19 crore during the quarter under review, compared to Rs 3,564.82 crore earlier.
The Company effectively doubled its exports sales proportion to 32 per cent of total sales volumes in Q4FY22 as compared to 16 per cent Q4FY21, with a keen focus on the value-added product segments.
The standalone revenue, EBITDA and PAT grew by 65 per cent, 46 per cent and 152 per cent respectively over Q4FY21. Net external debt stood at Rs 1,546 crore as on March 31, 2022, with debt-to-equity ratio reduced to 0.6. Interest cost reduced by 25 per cent to Rs 68 crore for Q4FY22 as compared to CPLY.
JSL said it has maintained a strong performance on the back of adaptive strategies in supply chain and product basket management.
Despite volatility and global disruptions in raw material supply and logistics, the company effectively doubled its exports sales proportion to 32 per cent of total sales volumes in Q4 FY22 as compared to 16 per cent Q4FY21.
Commenting on the performance of the Company, JSL Managing Director Abhyuday Jindal said, “JSL’s strategic decision to focus on export sales and strengthen its niche value-added product portfolio resulted in a robust performance. This also enabled the Company steer through certain challenging segments in the domestic market that faced subsidized imports from China and Indonesia.”
“We continue to work closely with our customers to develop new products and the ecosystem, for catering to new opportunities of stainless steel applications in infrastructure and emerging focused sectors like Green Hydrogen and ethanol. We are also proactively switching from thermal to renewable energy infrastructure at our plantpremises, and are working towards our goal of net zero carbon emissions by 2050,” he added.
