Post the merger of Jindal Stainless (Hisar) Limited with Jindal Stainless Limited, the company has chalked out a capex plan to cash on the strong demand visibility in the domestic market. “We have a capex plan of Rs 2,000-3,000 crore for the next 2-3 year as we look to double the capacity at our Odisha plant. The entire capex will be funded via internal accruals,” Abhyuday Jindal, managing director of Jindal Stainless told Business Standard. Currently, Jindal Stainless Odisha plant has a capacity of 1.1 million tonne, while its Hisar plant is a 0.8 million tonne specialised product division. “For the last few years, we focused on improving our supply chain. It was becoming difficult to play on cost in the last few years due to cheap imports hitting the market, so we had to focus on logistics, last mile delivery and other supply chain parts. But now it is the right time to look at capacity expansion since demand is up,” said Jindal.
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
Jindal Stainless Ltd (JSL) said on Thursday its consolidated revenue in Q3 FY21 stood at Rs 3,585 crore, up by 9 per cent year-on-year. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) totalled Rs 473 crore while EBITDA margin was at 13.2 per cent. The profit after tax was Rs 170 crore. The company said continuous and accelerated deleveraging along with interest rate rationalisation helped bring down the interest cost by 16 per cent over the corresponding period of last year to Rs 117 crore. Besides, the Indian economy gained momentum and registered a faster than expected recovery after the peak Covid-19 period in 2020. The third quarter witnessed healthy revival in end-user segments like automotive, pipes and tubes, and industrial fabrication.
Jindal Stainless Q3 revenue jumps 9 pc to Rs 3,585 crore ANI | Updated: Feb 04, 2021 18:09 IST
New Delhi [India], February 4 (ANI): Jindal Stainless Ltd (JSL) said on Thursday its consolidated revenue in Q3 FY21 stood at Rs 3,585 crore, up by 9 per cent year-on-year.
The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) totalled Rs 473 crore while EBITDA margin was at 13.2 per cent. The profit after tax was Rs 170 crore.
The company said continuous and accelerated deleveraging along with interest rate rationalisation helped bring down the interest cost by 16 per cent over the corresponding period of last year to Rs 117 crore.
Stainless steel makers flay Budget 2021, say it opens floodgates for Chinese companies
The government has slashed import duties on a host of steel products including stainless steel items and also revoked some of the trade remedial measures taken between 2016 and 2019 to thwart cheap imports from China
Sumant Banerji | February 1, 2021 | Updated 21:59 IST
Budget 2021
The domestic stainless steel manufacturing industry has criticised the Union Budget 2021 presented by Finance Minister Nirmala Sitharaman in the parliament today for reopening the floodgates for Chinese firms to dump their products in the Indian market.
The government has slashed import duties on a host of steel products including stainless steel items and also revoked some of the trade remedial measures taken between 2016 and 2019 to thwart cheap imports from China. It followed a clamour for reining in steel makers in the country by user industries after a sharp spike in prices by up to 50 per cent in some cases,