About the Company:
JSW Steel is an Indian steel making company based in Mumbai, Maharashtra. It is a subsidiary of JSW Group. It is one of the fastest growing companies in India with a footprint in over 140 countries. JSW Steel, after merger of ISPAT steel, has become India's second largest private sector steel manufacturer in terms of installed capacity. It is also one of the lowest cost steel producers in the world. It offers a wide range of steel products like Hot Rolled, Cold Rolled, Galvanized, Galvalume, Pre-painted Galvanised, Pre-painted Galvalume, TMT Rebars, Wire Rods & Special Steel Bars, Rounds & Blooms. The JSW Group is a part of the O.P. Jindal Group with strong footpath across core economic sectors like Steel, Energy, Infrastructure, Cement, Ventures and Sports.
QoQ & YoY Performance:
India’s second largest private sector Iron and steel company has declared the results for the fourth quarter of fiscal year ending March 2020.
- QoQ Performance: Consolidated Net sales/ revenue of the company recorded to Rs.17,887 crores, down by 0.93% in the March quarter of FY20. Total expenditure (excluding interest and depreciation expenses) are Rs.17,912 crores is dropped by 4.43%. EBITDA numbers increased by 20.13% on QoQ.
- YoY Performance: The Company has reported a 20.03% decrease in sales/revenue while expenditure (excluding interest and depreciation expenses) of the company have declined by 16.82%.
- Profitability of the company: Net profit of the company landed to Rs.188 crores, increased by 0.53% QoQ and declined by 87.49% YoY.
As per Lokesh Sethia, SEBI Registered Research Analyst, the stock was closed at Rs.166.30 per share, the company has posted quarter four financial results as the consolidated net profit of the company is plunged by 87.49% at 188 crores on YoY basis and the total expenses also down by 16.82% at 14,912 crores. Due to Covid-19 pandemic and the nationwide lockdown company had to suspended its production. But the company has good potential to perform in its sector; so we will suggest you to take “BUY” positions in the stock for the target of Rs.200.