Time period given by analyst is one year when Jindal Stainless Ltd. price can reach defined target.
Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 8071.04 Crore) operating in Metals – Ferrous sector.
Jindal Stainless Ltd. key Products/Revenue Segments include Steel, Job Work, Sale of services, Export Incentives, Other Operating Revenue and Gases for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 4042.32 Crore, up 2.95 % from last quarter Total Income of Rs 3926.30 Crore and up 191.68 % from last year same quarter Total Income of Rs 1385.87 Crore. Company reported net profit after tax of Rs 281.68 Crore in latest quarter.
Investment Rationale
Expansion from 1.9mtpa to 2.9mtpa stays on track. Existing capacity will lead to 15-20% volume growth in FY22. Management pointed at its continued focus on deleveraging and guided for start of dividend payout as merger between JSL and Jindal Stainless (Hissar) (JSHL) concludes, likely in the near term. The brokerage maintains BUY with a target price of Rs230/share.
Promoter/FII Holdings
Promoters held 68.1 per cent stake in the company as of June 30, 2021, while FIIs held 19 per cent, DIIs 1.8 per cent and public and others 11.1 per cent.
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