Jindal Stainless Reports Strong Results in Q1 of 2021-22
JSL JSL

Jindal Stainless Reports Strong Results in Q1 of 2021-22

Indian stainless steel maker Jindal Stainless Limited has announced financial results for April-June 2021 quarter and said that its sales

Indian stainless steel maker Jindal Stainless Limited has announced financial results for April-June 2021 quarter and said that its sales volume surged by 168% YoY to 237,852 tonnes. The company increased its share of export sales to cover the temporary challenges in domestic market during the Covid restrictions & localized lockdowns in Q1FY22. The domestic-export share of sales volumes during the quarter, on a YoY basis, was

Domestic - 67%

Export - 33%

Q1 Standalone performance:

Revenue at INR 3,841 crore, up by 204% YoY

EBITDA at INR 580 crore, up by 647% YoY

PAT recorded at INR 271 crore (vs loss of INR 87 crore in Q1FY21)

Q1 Consolidated performance:

Revenue stood at INR 4,033 crore, up by 193% YoY

EBITDA at INR 601 crore; up by 839% YoY

PAT at INR 306 crore

JSL said “Q1of FY22 witnessed further increase in raw material prices and freight cost globally. Ferro chrome and nickel prices continuously rose globally. Stainless steel demand in Q1FY22 was impacted by state-wise lockdowns due to second COVID wave. Demand in key segments like auto, pipe & tube segment, railways and special grades started to stabilize towards the end of the quarter. Outlook for stainless steel demand remains robust on the back of faster vaccination drive, improvement in availability of liquidity and overall economic recovery spurred by improved business sentiments and infrastructure stimulus by government.”

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