Jindal Stainless (Hisar) Ltd

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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)

  • Market Cap 4,051 Cr.
  • Current Price 172
  • High / Low 193 / 36.8
  • Stock P/E 9.34
  • Book Value 99.6
  • Dividend Yield 0.00 %
  • ROCE 18.4 %
  • ROE 18.4 %
  • Face Value 2.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.56%

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 2.84% over past five years.
  • Contingent liabilities of Rs.5208.43 Cr.
  • Promoters have pledged 87.70% of their holding.

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
2,477 2,529 2,565 2,718 2,372 2,276 2,484 2,246 852 2,298 3,147
2,182 2,293 2,318 2,473 2,120 2,008 2,252 2,079 850 2,007 2,759
Operating Profit 295 236 247 245 253 268 232 167 3 291 387
OPM % 12% 9% 10% 9% 11% 12% 9% 7% 0% 13% 12%
Other Income 64 20 63 55 54 45 47 48 31 68 94
Interest 91 89 95 92 85 85 82 71 73 69 65
Depreciation 70 72 73 75 70 74 74 76 72 74 73
Profit before tax 198 96 143 133 152 154 123 68 -112 216 343
Tax % 27% 43% 30% 27% 31% 32% 33% -59% 16% 22% 21%
Net Profit 139 52 94 96 105 103 80 105 -93 167 270
EPS in Rs 5.91 2.21 3.98 4.06 4.44 4.36 3.39 4.46 -3.93 7.08 11.42

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
0 8,152 7,235 7,774 10,357 10,289 9,379 8,544
0 7,411 6,386 6,794 9,126 9,250 8,444 7,695
Operating Profit 0 741 848 981 1,231 1,039 935 848
OPM % 9% 12% 13% 12% 10% 10% 10%
Other Income 0 45 -7 144 283 187 179 240
Interest 0 475 493 431 408 367 323 277
Depreciation 0 313 305 285 284 289 295 296
Profit before tax 0 -1 44 407 821 570 497 516
Tax % -310% 16% 29% 28% 30% 19%
Net Profit 0 -8 36 287 578 381 393 449
EPS in Rs 0.00 -321.60 1.58 12.15 24.50 16.16 16.65 19.03
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:3%
3 Years:6%
TTM:-13%
Compounded Profit Growth
10 Years:%
5 Years:118%
3 Years:12%
TTM:22%
Stock Price CAGR
10 Years:%
5 Years:37%
3 Years:0%
1 Year:305%
Return on Equity
10 Years:%
5 Years:26%
3 Years:27%
Last Year:18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
0 46 46 47 47 47 47 47
Reserves 0 501 563 846 1,427 1,806 2,224 2,302
Borrowings 0 1,053 2,007 3,514 2,935 2,367 2,205 2,090
0 4,639 2,917 2,270 2,347 2,273 2,108 2,263
Total Liabilities 0 6,192 5,533 6,678 6,756 6,493 6,584 6,702
0 2,801 2,546 2,430 2,290 2,190 2,108 2,019
CWIP 0 29 61 42 66 95 107 162
Investments 0 370 369 418 571 622 647 637
0 2,992 2,558 3,787 3,829 3,587 3,722 3,884
Total Assets 0 6,192 5,533 6,678 6,756 6,493 6,584 6,702

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
492 919 690 1,454 1,130 710
-2 -1,397 -1,780 -466 -181 -205
-471 485 1,081 -989 -939 -504
Net Cash Flow 19 7 -9 -0 11 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 57% 28% 23% 27% 21% 18%
Debtor Days 43 42 49 30 31 29
Inventory Turnover 8.83 4.06 3.84 4.60 4.92 4.65

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
57.67 57.67 57.67 57.67 57.67 57.67 57.67 57.67 57.67 57.67 57.67 57.67
21.33 21.16 21.11 20.93 20.82 20.56 20.60 20.60 20.55 20.44 21.12 20.69
2.70 2.89 3.05 3.72 4.06 4.29 4.35 5.41 5.11 3.97 3.88 4.02
18.30 18.29 18.17 17.69 17.45 17.48 17.38 16.32 16.68 17.93 17.34 17.63

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