JSW STEEL Announces Quarterly Results (2QFY22); Net Profit Up 324.8%

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JSW STEEL Announces Quarterly Results (2QFY22); Net Profit Up 324.8%
Tue, 26 Oct

JSW STEEL has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

JSW STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m192,640289,020325,03012.5%68.7%
Other incomeRs m1,5201,9809,460377.8%522.4%
TurnoverRs m194,160291,000334,49014.9%72.3%
ExpensesRs m148,500186,280220,86018.6%48.7%
Gross profitRs m44,140102,740104,1701.4%136.0%
DepreciationRs m11,49011,83012,3904.7%7.8%
InterestRs m9,5909,9309,360-5.7%-2.4%
Profit before taxRs m24,58082,96091,88010.8%273.8%
TaxRs m9,10027,19026,120-3.9%187.0%
Profit after taxRs m15,48055,77065,76017.9%324.8%
Gross profit margin%22.935.532.0
Effective tax rate%37.032.828.4
Net profit margin%8.019.219.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 68.7% on a year-on-year (YoY) basis. The expenses were up by 48.7% YoY during the same period.
  • The company's operating profit increased by 136.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.0% in 2QFY22 as against 22.9% in 2QFY21.
  • Depreciation charges increased by 7.8% and finance costs declined by 2.4% YoY, respectively.
  • Other income increased by 522.4% YoY during the quarter.
  • Net profit for the quarter increased by 324.8% YoY. Net profit margins during the quarter increased from 8.0% in 2QFY21 to 19.7% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.6% QoQ during the same period.
  • The company's operating profit increased by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.0% in 2QFY22 as against 35.5% in 1QFY21.
  • Net profit for the quarter increased by 17.9% QoQ, while net profit margins increased from 19.2% in 1QFY21 to 19.7% in 2QFY22.

To see how JSW STEEL has performed over the last eight quarters,please visit here.

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JSW STEEL Share Price Performance

Over the last one year, JSW STEEL share price has moved up from Rs 308.2 to Rs 690.0, registering a Gain of Rs 381.9 or around 123.9%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 20,804.7 (up 2.5%). Over the last one year it has moved up from 8,354.3 to 20,804.7, a gain of 12,450 points (up 149.0%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 690.0, the price to earnings (P/E) ratio of JSW STEEL stands at 8.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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