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JINDAL STAINLESS Announces Quarterly Results (2QFY19); Net Profit Down 233.5%

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JINDAL STAINLESS Announces Quarterly Results (2QFY19); Net Profit Down 233.5%
Fri, 9 Nov

JINDAL STAINLESS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

JINDAL STAINLESS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m26,07831,46830,814-2.1%18.2%
Other incomeRs m143587123.4%-50.3%
TurnoverRs m26,22231,52530,886-2.0%17.8%
ExpensesRs m23,51427,71828,5022.8%21.2%
Gross profitRs m2,7103,5981,780-50.5%-34.3%
DepreciationRs m7597618035.5%5.7%
InterestRs m1,6091,4971,5664.6%-2.7%
Profit before taxRs m4851,399-517-137.0%-206.7%
TaxRs m212490-153-131.2%-172.1%
Profit after taxRs m273909-364-140.1%-233.5%
Gross profit margin%10.411.45.8
Effective tax rate%43.735.029.5
Net profit margin%1.02.9-1.2
* 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 grew 18.2% on a year-on-year (YoY) basis. The expenses were up by 21.2% YoY during the same period.
  • The company's operating profit declined by 34.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.8% in 2QFY19 as against 10.4% in 2QFY18.
  • Depreciation charges increased by 5.7% and finance costs declined by 2.7% YoY, respectively.
  • Other income declined by 50.3% YoY during the quarter.
  • Net profit for the quarter declined by 233.5% YoY. Net profit margins during the quarter declined from 1.0% in 2QFY18 to -1.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.8% QoQ during the same period.
  • The company's operating profit declined by 50.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.8% in 2QFY19 as against 11.4% in 1QFY18.
  • Net profit for the quarter declined by 140.1% QoQ, while net profit margins declined from 2.9% in 1QFY18 to -1.2% in 2QFY19.

To see how JINDAL STAINLESS has performed over the last eight quarters, please visit here.

JINDAL STAINLESS Share Price Performance

Over the last one year, JINDAL STAINLESS share price has moved up from Rs 111.4 to Rs 51.3, registering a Loss of Rs 60.1 or around 53.9%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,853.4 (down 1.1%). Over the last one year it has moved down from 14,583.6 to 12,853.4, a gain of 1,730 points (down 11.9%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 51.3, the price to earnings (P/E) ratio of JINDAL STAINLESS stands at 3.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at -7.9 times.

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