JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 173447.65 Crore) operating in Metals – Ferrous sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 29100.00 Crore, up 7.40 % from last quarter Total Income of Rs 27095.00 Crore and up 144.25 % from last year same quarter Total Income of Rs 11914.00 Crore. Company reported net profit after tax of Rs 5577.00 Crore in latest quarter.
Investment Rationale
Despite the high capex, the brokerage expects net debt to decline ~17% to INR543b over FY21–23E. It values JSTL at 6x FY23E EV/EBITDA to arrive at TP of INR840.
Promoter/FII Holdings
Promoters held 44.1 per cent stake in the company as of June 30, 2021, while FIIs held 0.4 per cent, DIIs 20.6 per cent and public and other 34.9 per cent.
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