Jindal Steel & Power Limited has recorded a resilient performance in 2021-22 as the company was able to meet its production guidance of 8 million tonnes and surpassed the 50,15,15 target ie INR 50,000 crore revenue, INR 15,000 crore EBITDA and less than INR 15,000 crore net debt. JSPL said “Notwithstanding massive disruption caused by the pandemic in early FY22, unfavorable weather and several logistical challenges, JSP's wide product profile and geographical diversification stood the Company in good stead. -------------------------------------Standalone Highlights 2021-22Steel Production (Incl Pig Iron): 8.01 million tonnes, up 7.5% YoYPellet Production: 7.76 million tonnes, flat YoYSteel Sales: 7.64 million tonnes, up 5.0% YoYPellet Sales: 0.75 million tonnes, down 67% YoYExports: 2.5 million tonnes, 33% of total salesGross Revenue: INR 55,264 crore, up 49% YoYEBITDA: INR 15,037 crore, up 15% YoYProfit after tax: INR 8,283 crore---------------------------------------Consolidated Highlights 2021-22Gross Revenue: INR 56,921 croreEBITDA: INR 15,513 croreProfit after tax: INR 8,249 croreNet Debt: INR 8,876 crore, down by INR 13.270 croreMozambique: The Mozambique operations continued to ramp up production this year and ended 2021-22 at 4.1 million tonnes ROM from Chirodzi mine as compared to 3.2 million tonnes in 2020-21. Coking coal sales also improved in line with production to 700KT as against 581KT in 22020-21. 2021-22 saw Mozambique operations turning profitable with the mine reporting EBITDA of USD 57.2 million and PAT of USD 22 million.South Africa: Kiepersol mine in South Africa reported sales of 407 KT in 2021-22 as against 490 KT in 2020-21. Better realizations resulted in EBITDA increasing to USD 10.4 million for the year as against USD 6.1 million in 2020-21Australia: Ramp up of Russel vale mine in the H2 of 2021-22 has resulted in Australian operations ending the year positively with WCL reporting EBITDA of USD 13.7 million as compared to a loss of USD 9.6 million in the prior year. Wongawilli colliery continues to remain under care & maintenance.Outlook “Notwithstanding near term challenges the Company will aim for 8.5-9.0 million tonnes in 2022-23. With one of the strongest balance sheets to support our growth aspirations, increasing raw material security, and low cost of production, JSP remains well positioned to withstand any cyclical challenges and continue to work on its goal of enhancing stakeholder value.”
Jindal Steel & Power Limited has recorded a resilient performance in 2021-22 as the company was able to meet its production guidance of 8 million tonnes and surpassed the 50,15,15 target ie INR 50,000 crore revenue, INR 15,000 crore EBITDA and less than INR 15,000 crore net debt. JSPL said “Notwithstanding massive disruption caused by the pandemic in early FY22, unfavorable weather and several logistical challenges, JSP's wide product profile and geographical diversification stood the Company in good stead. -------------------------------------Standalone Highlights 2021-22Steel Production (Incl Pig Iron): 8.01 million tonnes, up 7.5% YoYPellet Production: 7.76 million tonnes, flat YoYSteel Sales: 7.64 million tonnes, up 5.0% YoYPellet Sales: 0.75 million tonnes, down 67% YoYExports: 2.5 million tonnes, 33% of total salesGross Revenue: INR 55,264 crore, up 49% YoYEBITDA: INR 15,037 crore, up 15% YoYProfit after tax: INR 8,283 crore---------------------------------------Consolidated Highlights 2021-22Gross Revenue: INR 56,921 croreEBITDA: INR 15,513 croreProfit after tax: INR 8,249 croreNet Debt: INR 8,876 crore, down by INR 13.270 croreMozambique: The Mozambique operations continued to ramp up production this year and ended 2021-22 at 4.1 million tonnes ROM from Chirodzi mine as compared to 3.2 million tonnes in 2020-21. Coking coal sales also improved in line with production to 700KT as against 581KT in 22020-21. 2021-22 saw Mozambique operations turning profitable with the mine reporting EBITDA of USD 57.2 million and PAT of USD 22 million.South Africa: Kiepersol mine in South Africa reported sales of 407 KT in 2021-22 as against 490 KT in 2020-21. Better realizations resulted in EBITDA increasing to USD 10.4 million for the year as against USD 6.1 million in 2020-21Australia: Ramp up of Russel vale mine in the H2 of 2021-22 has resulted in Australian operations ending the year positively with WCL reporting EBITDA of USD 13.7 million as compared to a loss of USD 9.6 million in the prior year. Wongawilli colliery continues to remain under care & maintenance.Outlook “Notwithstanding near term challenges the Company will aim for 8.5-9.0 million tonnes in 2022-23. With one of the strongest balance sheets to support our growth aspirations, increasing raw material security, and low cost of production, JSP remains well positioned to withstand any cyclical challenges and continue to work on its goal of enhancing stakeholder value.”
