JINDAL STAINLESS Announces Quarterly Results (1QFY19); Net Profit Up 118.9%
Thu, 26 Jul

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

JINDAL STAINLESS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m21,94331,72731,468-0.8%43.4%
Other incomeRs m9610758-46.1%-39.5%
TurnoverRs m22,03931,83431,525-1.0%43.0%
ExpensesRs m19,43827,84327,718-0.4%42.6%
Gross profitRs m2,3173,5573,5981.2%55.3%
DepreciationRs m7597517611.3%0.2%
InterestRs m1,0191,2431,49720.5%46.9%
Profit before taxRs m6351,6701,399-16.3%120.4%
TaxRs m220523490-6.3%123.1%
Profit after taxRs m4151,147909-20.8%118.9%
Gross profit margin%10.611.211.4
Effective tax rate%34.631.335.0
Net profit margin%1.93.62.9
* 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 43.4% on a year-on-year (YoY) basis. The expenses were up by 42.6% YoY during the same period.
  • The company's operating profit increased by 55.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.4% in 1QFY19.
  • Depreciation charges and finance costs increased by 0.2% YoY and 46.9% YoY, respectively.
  • Other income declined by 39.5% YoY during the quarter.
  • Net profit for the quarter increased by 118.9% YoY. Net profit margins during the quarter increased from 1.9% in 1QFY18 to 2.9% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.4% QoQ during the same period.
  • The company's operating profit increased by 1.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.4% in 1QFY19 as against 11.2% in 4QFY18.
  • Net profit for the quarter declined by 20.8% QoQ, while net profit margins declined from 3.6% in 4QFY18 to 2.9% in 1QFY19.

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 87.1 to Rs 62.7, registering a Loss of Rs 24.4 or around 28.0%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,356.9 (down 0.1%). Over the last one year it has moved down from 12,504.1 to 12,356.9, a gain of 147 points (down 1.2%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 62.7, the price to earnings (P/E) ratio of JINDAL STAINLESS stands at 3.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at -9.7 times.