Jindal Saw Ltd

About [ edit ]

Jindal Saw is engaged in a leading global manufacturer and supplier of Iron & Steel pipes and pellets having manufacturing facilities in India.(Source : 201903 Annual Report Page No: 88)

  • Market Cap 3,404 Cr.
  • Current Price 106
  • High / Low 120 / 54.3
  • Stock P/E 10.3
  • Book Value 223
  • Dividend Yield 1.88 %
  • ROCE 8.38 %
  • ROE 4.71 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.48 times its book value

Cons

  • The company has delivered a poor sales growth of 7.12% over past five years.
  • Company has a low return on equity of 7.63% for last 3 years.
  • Contingent liabilities of Rs.2098.71 Cr.
  • Dividend payout has been low at 14.33% of profits over last 3 years

Peer comparison

Sector: Steel Industry: Steel - Large

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
2,290 2,346 2,342 2,844 2,581 2,353 2,702 2,493 1,346 1,934 2,176 3,176
1,996 2,038 2,028 2,472 2,226 2,038 2,335 2,177 1,195 1,726 1,949 2,784
Operating Profit 294 307 314 372 355 316 367 316 151 208 228 392
OPM % 13% 13% 13% 13% 14% 13% 14% 13% 11% 11% 10% 12%
Other Income 56 57 57 60 48 -8 12 12 60 87 64 67
Interest 148 144 82 122 118 131 128 138 113 100 100 90
Depreciation 65 72 73 71 69 71 74 96 82 83 86 95
Profit before tax 138 148 216 239 216 105 176 93 15 112 105 274
Tax % 31% 31% 31% 36% 33% -188% 32% 72% 33% 34% 35% 36%
Net Profit 95 102 150 153 146 303 120 26 10 74 68 176
EPS in Rs 2.98 3.18 4.70 4.77 4.55 9.49 3.74 0.81 0.31 2.33 2.13 5.52

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
6,777 4,194 5,198 5,617 5,510 6,604 6,120 5,678 7,310 9,829 10,129 8,632
5,512 3,363 4,557 5,014 4,890 5,655 5,242 4,794 6,239 8,528 8,773 7,652
Operating Profit 1,265 831 641 603 619 949 878 884 1,071 1,302 1,356 980
OPM % 19% 20% 12% 11% 11% 14% 14% 16% 15% 13% 13% 11%
Other Income 60 63 -54 -32 10 47 101 237 180 217 62 277
Interest 227 151 114 150 226 326 494 380 415 496 516 404
Depreciation 131 137 150 155 213 205 227 229 256 281 310 346
Profit before tax 968 605 323 266 191 464 258 512 580 741 592 507
Tax % 25% 23% 31% 27% 24% 39% 14% 40% 33% 33% -0% 35%
Net Profit 723 464 224 193 144 285 221 308 386 500 594 329
EPS in Rs 26.44 16.80 8.12 7.00 5.22 9.84 7.27 9.62 12.06 15.64 18.59 10.29
Dividend Payout % 5% 6% 12% 14% 19% 10% 14% 10% 10% 13% 11% 19%
Compounded Sales Growth
10 Years:7%
5 Years:7%
3 Years:6%
TTM:-15%
Compounded Profit Growth
10 Years:-3%
5 Years:5%
3 Years:-6%
TTM:-51%
Stock Price CAGR
10 Years:-2%
5 Years:17%
3 Years:8%
1 Year:71%
Return on Equity
10 Years:7%
5 Years:7%
3 Years:8%
Last Year:5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
155 55 55 55 55 58 61 64 64 64 64 64
Reserves 3,487 3,966 3,498 3,673 3,827 5,578 5,241 5,500 5,849 6,302 6,799 7,074
Borrowings 737 1,612 2,517 3,266 3,457 4,553 4,981 4,151 4,445 4,175 4,042 3,727
1,206 1,188 1,510 1,175 1,159 1,782 1,249 1,221 1,425 2,766 2,248 3,070
Total Liabilities 5,485 6,821 7,580 8,170 8,497 11,970 11,532 10,937 11,783 13,307 13,152 13,935
1,867 1,926 2,038 2,556 3,541 5,307 5,757 5,773 5,638 5,697 5,973 5,913
CWIP 267 344 691 1,011 204 422 204 66 108 231 205 157
Investments 620 654 699 827 788 959 675 591 649 665 638 716
2,732 3,897 4,152 3,776 3,964 5,283 4,895 4,507 5,389 6,714 6,336 7,149
Total Assets 5,485 6,821 7,580 8,170 8,497 11,970 11,532 10,937 11,783 13,307 13,152 13,935

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,684 -816 -207 313 392 -199 544 1,317 573 1,270 1,465 1,332
-928 37 -360 -967 -323 -763 -440 -111 -454 -487 -393 -343
-732 706 646 545 -92 1,103 -168 -1,278 -137 -731 -1,001 -748
Net Cash Flow 25 -72 79 -109 -22 141 -64 -72 -17 52 72 241

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 28% 15% 10% 8% 7% 10% 8% 9% 10% 12% 12% 8%
Debtor Days 43 107 91 80 89 83 95 78 82 69 55 73
Inventory Turnover 3.74 2.18 2.14 2.48 2.57 2.22 1.91 1.83 2.46 2.85 2.71 2.37

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
53.59 63.01 63.01 63.01 63.01 63.02 63.02 63.02 63.02 63.02 63.02 63.02
11.07 10.57 10.17 10.01 10.25 10.57 10.97 11.81 9.67 9.02 9.46 9.54
3.81 3.34 3.07 2.42 1.45 1.57 1.37 1.26 1.41 1.22 1.32 1.17
31.53 23.08 23.75 24.56 25.29 24.84 24.64 23.52 25.49 26.17 25.64 25.70
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.39 0.41 0.56 0.56 0.56

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