JSW STEEL Announces Quarterly Results (4QFY20); Net Profit Down 85.8%

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JSW STEEL Announces Quarterly Results (4QFY20); Net Profit Down 85.8%
Wed, 27 May

JSW STEEL has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

JSW STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m223,680180,550178,870-0.9%-20.0%
Other incomeRs m5301,2701,220-3.9%130.2%
TurnoverRs m224,210181,820180,090-1.0%-19.7%
ExpensesRs m179,280156,040149,120-4.4%-16.8%
Gross profitRs m44,40024,51021,700-11.5%-51.1%
DepreciationRs m10,84010,55011,0805.0%2.2%
InterestRs m10,46010,60010,360-2.3%-1.0%
Profit before taxRs m23,6304,6301,480-68.0%-93.7%
TaxRs m8,3502,490-690-127.7%-108.3%
Profit after taxRs m15,2802,1402,1701.4%-85.8%
Gross profit margin%19.813.612.1
Effective tax rate%35.353.8-46.6
Net profit margin%6.81.21.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 20.0% on a year-on-year (YoY) basis. The expenses were down by 16.8% YoY during the same period.
  • The company's operating profit declined by 51.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 4QFY20 as against 19.8% in 4QFY19.
  • Depreciation charges increased by 2.2% and finance costs declined by 1.0% YoY, respectively.
  • Other income increased by 130.2% YoY during the quarter.
  • Net profit for the quarter declined by 85.8% YoY. Net profit margins during the quarter declined from 6.8% in 4QFY19 to 1.2% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.4% QoQ during the same period.
  • The company's operating profit declined by 11.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 4QFY20 as against 13.6% in 3QFY19.
  • Net profit for the quarter increased by 1.4% QoQ, while net profit margins increased from 1.2% in 3QFY19 to 1.2% in 4QFY20.

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 down from Rs 287.8 to Rs 179.9, registering a Loss of Rs 108.0 or around 37.5%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 6,454.6 (up 1.3%). Over the last one year it has moved down from 11,028.8 to 6,454.6, a loss of 4,574 points (down 41.5%).

Overall, the S&P BSE SENSEX is down 22.2% over the year.

Current Valuations

At the current price of Rs 179.9, the price to earnings (P/E) ratio of JSW STEEL stands at 138.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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