Jindal Stainless Reports Strong Results for Oct-Dec’22 Quarter

Jindal Stainless & Jindal Stainless (Hisar) have announced financial results for October-December quarter of 2022-23. ----------------------------------------------------Standalone proforma merged (JSL + JSHL)Revenue at INR 9,073 crore, up by 5% QoQEBITDA at INR 951 crore, up by 37% QoQPAT at INR 568 crore, up by 58% QoQ-------------------------------------Standalone performance - JSLRevenue at INR 6,221 croreEBITDA at INR 622 crorePAT at INR 351 croreSales volume at 330,427 tonnes---------------------------------------Standalone performance - JSHLRevenue at INR 3,765 croreEBITDA at INR 339 crorePAT at INR 224 croreSales volume at 174,188 tonnesJindal Stainless said “The domestic stainless steel industry struggled with continual dumping of substandard imports from China and Indonesia, witnessing a steep increase of 230% and 300% respectively, from FY21 to FY23 (Apr-Oct Annualised). The distortion in level playing field between Indian manufacturers and subsidised foreign imports, therefore, continued throughout the quarter.”