Jindal Stainless (Hisar) Limited announces Financial Results for the Quarter ended December 31, 2020
Posted On: 2021-02-08 05:19:40 (Time Zone: Arizona, USA)
Jindal Stainless (Hisar) Limited (JSHL) today approved its Q3FY21 financial results. The quarter witnessed a steady economic recovery that led to higher stainless steel demand. JSHL s sales volume stood at 191,272 tonnes, registering an increase of 22% over the corresponding period last year (CPLY). Profit After Tax (PAT) and EBITDA of the company stood at INR 190 crores and INR 351 crores, respectively. Consistent focus on deleveraging helped bring down the finance cost by 23% over CPLY.
A quick normalisation in supply chain post the peak-COVID period, uptick in demand from rural and urban centres, and renewed efforts by the industry helped in reviving the stainless steel demand in a short span. During Q3FY21, strong demand was registered in the auto, pipe & tube, metro rail, and railway wagon segments. Moreover, sale
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Jindal Stainless (Hisar) Limited to merge with Jindal Stainless Limited
Posted On: 2020-12-29 06:09:43 (Time Zone: Arizona, USA)
The Board of Directors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) today accepted the recommendations of the respective Board Committees and approved the merger of JSHL into JSL. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL.
Managing Director, JSL & JSHL, Mr Abhyuday Jindal said, I am confident that the proposed merger of JSHL into JSL will enhance value to shareholders of both the Companies. The consolidation will enable harnessing of the complementing strengths of the individual Companies. Seamless integration of infrastructure, processes and operational synergies, along with a strengthened balance sheet, would improve financial flexibility. The merger of JSL and JSHL will also induce a simplified capital structure, expanding the turnover of t
Jindal Stainless Hisar to be merged with JSL via share swap
As per the approved share swap ratio, 195 equity shares of Jindal Stainless Limited will be issued for every 100 equity shares of Jindal Stainless (Hisar) Limited
Chitranjan Kumar | December 29, 2020 | Updated 20:34 IST
Post merger, Jindal Stainless will be the single listed entity on the stock exchanges
Jindal Stainless (Hisar) Limited (JSHL) will be merged into Jindal Stainless Limited (JSL) in a share swap ratio of 1:1.95, subject to approvals from statutory authorities, shareholders, creditors, and NCLT. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL.
Jindal Stainless (Hisar) to get merged into Jindal Stainless
December 29, 2020
× The Board of Directors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) on Tuesday approved the merger of JSHL into JSL. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL.
In a statement, Abhyuday Jindal, Managing Director, JSL & JSHL, said, “I am confident that the proposed merger of JSHL into JSL will enhance value to shareholders of both the companies. The merger of JSL and JSHL will also induce a simplified capital structure, expanding the turnover of the merged business to ₹20,000 crore. With 1.9 MTPA melt capacity, the merged entity will be the only Indian company in the league of top 10 stainless steel companies in the world. This transition will also bolster the government’s ‘Atmanirbhar Bharat’ mission.”