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 2,955 Cr.
  • Current Price 92.4
  • High / Low 97.0 / 45.5
  • Stock P/E 17.6
  • Book Value 211
  • Dividend Yield 2.16 %
  • ROCE 9.80 %
  • ROE 8.50 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.44 times its book value
  • Company has delivered good profit growth of 65.00% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 8.87% for last 3 years.
  • Contingent liabilities of Rs.3003.89 Cr.

Peer comparison

Sector: Steel Industry: Steel - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,761 2,960 2,958 3,438 3,056 2,682 2,988 2,901 1,641 2,374 2,865
2,408 2,616 2,592 3,039 2,662 2,341 2,608 2,508 1,458 2,097 2,557
Operating Profit 353 344 366 399 395 340 380 393 183 277 307
OPM % 13% 12% 12% 12% 13% 13% 13% 14% 11% 12% 11%
Other Income 35 36 34 419 25 5 -16 -16 41 71 48
Interest 183 170 116 146 146 155 152 164 135 121 125
Depreciation 93 100 103 100 100 101 102 119 108 113 113
Profit before tax 112 110 181 572 174 89 109 95 -18 114 116
Tax % 32% 34% 33% 14% 37% -188% 40% 69% -49% 30% 24%
Net Profit 93 97 139 521 131 301 90 33 -9 78 66
EPS in Rs 2.90 3.04 4.34 16.30 4.11 9.41 2.80 1.03 -0.29 2.45 2.06

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
5,354 7,110 4,586 6,036 6,765 6,656 8,208 7,703 7,070 8,507 12,117 11,627 9,781
4,648 5,857 3,724 5,362 6,163 6,017 7,254 6,979 6,381 7,468 10,654 10,120 8,620
Operating Profit 706 1,253 862 675 602 639 954 723 689 1,038 1,463 1,507 1,160
OPM % 13% 18% 19% 11% 9% 10% 12% 9% 10% 12% 12% 13% 12%
Other Income 31 57 61 -46 -116 29 76 136 318 26 524 -1 144
Interest 215 258 182 165 236 392 606 679 569 579 615 618 545
Depreciation 84 159 164 182 219 321 335 328 337 363 396 422 453
Profit before tax 437 894 577 282 31 -46 89 -148 101 122 975 467 307
Tax % 25% 24% 23% 33% 163% -120% 131% 46% 62% 109% 22% 1%
Net Profit 329 680 445 189 -19 -86 -14 -40 114 178 850 555 168
EPS in Rs 12.63 24.85 16.10 6.85 -0.68 -3.10 -0.50 -1.32 3.56 5.58 26.58 17.35 5.25
Dividend Payout % 8% 5% 6% 15% -146% -32% -200% -76% 28% 22% 8% 12%
Compounded Sales Growth
10 Years:5%
5 Years:7%
3 Years:18%
TTM:-20%
Compounded Profit Growth
10 Years:-2%
5 Years:65%
3 Years:70%
TTM:-84%
Stock Price CAGR
10 Years:-6%
5 Years:19%
3 Years:-7%
1 Year:81%
Return on Equity
10 Years:3%
5 Years:6%
3 Years:9%
Last Year:9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
152 155 55 55 55 55 58 61 64 64 64 64 64
Reserves 2,655 3,532 4,014 3,641 3,612 3,513 5,332 5,061 5,322 5,432 6,218 6,700 6,684
Borrowings 1,824 1,081 2,289 3,587 5,159 5,989 8,102 7,547 6,222 6,311 5,692 5,649 5,230
1,672 1,244 1,288 2,043 1,886 1,858 2,507 1,676 1,248 1,389 2,807 2,669 3,319
Total Liabilities 6,204 5,912 7,647 9,325 10,713 11,416 15,999 14,346 12,856 13,197 14,781 15,082 15,296
1,454 2,401 2,498 2,800 4,247 5,843 8,239 7,977 7,455 7,120 7,163 7,491 7,358
CWIP 819 367 665 1,502 1,410 343 531 254 102 126 260 423 347
Investments 79 326 276 45 154 75 309 154 119 110 190 129 148
3,851 2,819 4,208 4,979 4,903 5,155 6,921 5,961 5,180 5,840 7,169 7,039 7,444
Total Assets 6,204 5,912 7,647 9,325 10,713 11,416 15,999 14,346 12,856 13,197 14,781 15,082 15,296

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
318 1,686 -799 -296 222 109 -183 917 1,163 565 1,567 1,665
-563 -1,049 -593 -600 -1,482 -615 -867 -517 -428 -121 -518 -468
153 -604 1,005 979 1,255 359 1,253 -512 -816 -470 -977 -1,168
Net Cash Flow -92 33 -387 83 -5 -148 203 -112 -81 -25 72 28

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 24% 13% 9% 6% 4% 7% 4% 4% 7% 10% 10%
Debtor Days 86 43 103 94 91 96 91 83 71 83 67 59
Inventory Turnover 2.67 3.80 2.22 2.08 2.32 2.21 1.89 1.71 1.76 2.24 2.82 2.53

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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