Jindal Stainless (Hisar) Ltd

Jindal Stainless (Hisar) Ltd is an India-based manufacturer of stainless steel. The Company is a producer of stainless steel strips for razor blades and coin blanks.

Pros:
Company has reduced debt.
Stock is trading at 1.08 times its book value
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Contingent liabilities of Rs.2974.68 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

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
1,497 1,545 1,804 2,043 2,218 2,348 2,439 2,254 2,133 2,229 2,233 2,361
1,259 1,324 1,577 1,805 1,967 2,071 2,113 1,968 1,882 2,000 2,032 2,144
Operating Profit 238 221 227 238 251 277 325 286 252 230 201 217
OPM % 16% 14% 13% 12% 11% 12% 13% 13% 12% 10% 9% 9%
Other Income 3 23 24 29 30 27 47 26 24 18 45 40
Interest 99 98 100 114 103 102 97 93 87 85 90 86
Depreciation 66 66 67 67 65 67 68 67 67 68 69 71
Profit before tax 76 80 84 86 113 135 208 152 122 95 87 100
Tax % 35% 33% 35% 30% 34% 32% 36% 37% 35% 35% 36% 34%
Net Profit 49 53 55 60 74 92 134 96 79 62 55 66
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 TTM
0 7,365 6,370 6,890 9,259 8,956
0 6,653 5,706 5,995 8,131 8,057
Operating Profit 0 713 664 895 1,128 900
OPM % 10% 10% 13% 12% 10%
Other Income 0 39 120 108 142 127
Interest 0 447 469 412 395 348
Depreciation 0 292 285 265 267 276
Profit before tax 0 12 30 326 608 404
Tax % 0% 18% 33% 35%
Net Profit 0 12 25 218 396 262
EPS in Rs 1.07 9.24 16.77
Dividend Payout % 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:7.92%
TTM:-3.26%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-33.88%
Return on Equity
10 Years:%
5 Years:%
3 Years:23.97%
Last Year:36.25%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
0 46 46 47 47 47
Reserves 0 551 600 815 1,209 1,470
Borrowings 0 856 1,855 3,390 2,799 2,001
0 4,372 2,732 2,139 2,162 2,253
Total Liabilities 0 5,778 5,234 6,390 6,217 5,771
0 2,584 2,342 2,234 2,102 1,991
CWIP 0 29 53 41 63 88
Investments 0 417 417 417 417 417
0 2,748 2,422 3,699 3,635 3,275
Total Assets 0 5,778 5,234 6,390 6,217 5,771

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

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

Ratios Standalone Figures in Rs. Crores / View Consolidated

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