Jindal Steel and power Limited
Jindal Steel and Power’s (JSP) Part of the US $ 18 billion OP Jindal Group Led by Mr Naveen Jindal. has operations across steel, mining and power are seamlessly integrated, spanning from its own iron ore mines to the production of finished steel products. Jindal Steel & Power (JSP) is a leading player in the steel industry, renowned for its robust steel business and has a robust mining capacity that exceeds 33 MTPA, dedicated to coal and iron ore extraction and maintains a total Captive Power Plant (CPP) capacity of 1,634 MW.
Key Business
- Steel Manufacturing units
- Power Plants
- MINING
Shareholding Pattern
- PUBLIC GROUP
- PROMOTER GROUP
- EMPLOYEE TRUST
Financial Summary
| Particulars | March 2024 | March 2023 | March 2022 |
| Sales | 50,027 | 53,212 | 51,166 |
| Sales Growth % | -5.99% | 4.00% | 47.97% |
| Expenses | 39,826 | 43,270 | 35,650 |
| Operating Profit | 10,201 | 9,942 | 15,515 |
| OPM % | 20% | 19% | 30% |
| Profit before tax | 6,241 | 5,266 | 9,690 |
| EPS in Rs | 58.21 | 31.11 | 56.4 |
Synopsis of Financials
- Adjusted EBITDA up by 5% to INR 10,231 crores.
- PAT for the year up by 86% to INR 5,943 crores.
- Adjusted EBITDA for Q4 was INR 2,512 crores, down 10% quarter-on-quarter.
- PAT for the quarter was INR 933 crores, down 52% quarter-on-quarter due to lower EBITDA and impairment provision of INR 360 crores on Australian mine.
Final Outlook
JSPL expects lower coal costs in Q1 FY25. Capex will shift towards more value-added products for improved profitability.
Commissioning of the slurry pipeline and the ramp-up of captive coal mines may boost profitability. Ongoing capacity expansion at Angul (Odisha) will significantly enhance Jindal Steel and Power’s crude steel capacity by over 65% to 15.9mt. The planned expansion, which is expected to be completed by 3QFY26, will catapult Jindal Steel and Power as fourth largest steel manufacturer in India. As these expansions will help drive its volume growth, they will also help reduce structural costs. Expectation to debt to peak out in 25.
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