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
Emkay GlobalJindal Stainless (Buy)Target: ₹95CMP: ₹75.75Jindal Stainless (JSL) announced merger with Jindal Stainless (Hisar) Ltd (JSHL) to join the league of top 10 stainless steel companies globally
JSPL, UPL, EID Parry, Coromandel International, Jindal Stainless, Balkrishna Industries in focus. Stocks to track in trade for December 30, 2020: Jindal Stainless, Jindal Steel & Power, Indraprastha Gas, UPL, EID Parry | Photo Credit: BCCL
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Jindal Stainless
The board approves the merger of listed group company Jindal Stainless (Hisar) Ltd. with itself, resulting in an entity that will be among the top 10 stainless steel companies in the world. The merger is expected to be completed in the second half of FY22. Shareholders will get 195 shares of Jindal Stainless for every 100 held in Jindal Stainless Hisar.
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
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