Jindal Stainless (Hisar) Ltd

Jindal Stainless (Hisar) is engaged in a leading manufacturer /producer of stainless steel flat products in austenitic, ferritic, martensitic and duplex grades.(Source : 201903 Annual Report Page No: 93)

Pros:
Company has reduced debt.
Stock is trading at 0.96 times its book value
Company has a good return on equity (ROE) track record: 3 Years ROE 26.03%
Debtor days have improved from 41.05 to 31.44 days
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Contingent liabilities of Rs.5287.56 Cr.
Promoters have pledged 87.70% of their holding

Peer Comparison Sector: Steel // Industry: Steel - Large

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
1,804 2,043 2,218 2,348 2,439 2,254 2,133 2,229 2,233 2,361 2,147 1,971
1,577 1,805 1,967 2,071 2,113 1,968 1,882 2,000 2,032 2,144 1,910 1,729
Operating Profit 227 238 251 277 325 286 252 230 201 217 237 241
OPM % 13% 12% 11% 12% 13% 13% 12% 10% 9% 9% 11% 12%
Other Income 24 29 30 27 47 26 24 18 45 40 36 30
Interest 100 114 103 102 97 93 87 85 90 86 80 76
Depreciation 67 67 65 67 68 67 67 68 69 71 66 68
Profit before tax 84 86 113 135 208 152 122 95 87 100 128 127
Tax % 35% 30% 34% 32% 36% 37% 35% 35% 36% 34% 34% 35%
Net Profit 55 60 74 92 134 96 79 62 55 66 84 82
EPS in Rs 2.34 2.56 3.15 3.88 5.66 4.07 3.36 2.61 2.33 2.78 3.56 3.49
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
0 7,365 6,370 6,890 9,259 8,956 8,712
0 6,653 5,706 5,995 8,119 8,057 7,815
Operating Profit 0 713 664 895 1,139 900 897
OPM % 10% 10% 13% 12% 10% 10%
Other Income 0 39 120 108 131 127 151
Interest 0 447 469 412 395 348 333
Depreciation 0 292 285 265 267 276 275
Profit before tax 0 12 30 326 608 404 441
Tax % 0% 18% 33% 35% 35%
Net Profit 0 12 25 218 396 262 287
EPS in Rs 0.00 0.00 1.07 9.24 16.77 11.09 12.16
Dividend Payout % 0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:12.03%
TTM:-3.79%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:228.48%
TTM:-30.66%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-10.86%
1 Year:-30.13%
Return on Equity
10 Years:%
5 Years:20.02%
3 Years:26.03%
Last Year:17.44%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
0 46 46 47 47 47 47
Reserves 0 551 600 815 1,209 1,470 1,635
Borrowings 0 856 1,855 3,390 2,799 2,181 2,085
0 4,372 2,732 2,139 2,162 2,106 2,044
Total Liabilities 0 5,778 5,234 6,390 6,217 5,804 5,811
0 2,584 2,342 2,234 2,102 1,989 1,948
CWIP 0 29 53 41 63 90 91
Investments 0 417 417 417 417 417 417
0 2,748 2,422 3,699 3,635 3,308 3,355
Total Assets 0 5,778 5,234 6,390 6,217 5,804 5,811

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
0 453 844 656 1,444 1,136
0 4 -1,388 -1,793 -457 -155
0 -455 557 1,128 -987 -969
Net Cash Flow 0 2 13 -8 -1 12

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 61% 23% 21% 24% 19%
Debtor Days 46 44 58 34 31
Inventory Turnover 11.36 5.35 5.25 6.15 6.44