JSW Steel Ltd

JSW Steel is primarily engaged in the business of manufacture and sale of Iron and Steel Products.

Pros:
Promoter's stake has increased
Company has good consistent profit growth of 42.17% over 5 years
Cons:
Promoters have pledged 46.27% of their holding

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
11,708 13,228 14,012 16,656 15,093 17,240 18,264 21,336 20,519 21,552 20,318 22,368
8,452 10,295 11,191 13,491 12,476 14,204 14,413 16,046 15,414 16,646 15,833 17,961
Operating Profit 3,256 2,933 2,821 3,165 2,617 3,036 3,851 5,290 5,105 4,906 4,485 4,407
OPM % 28% 22% 20% 19% 17% 18% 21% 25% 25% 23% 22% 20%
Other Income 33 30 33 56 41 39 -222 52 58 56 37 53
Interest 936 964 921 948 945 950 923 883 887 963 1,021 1,046
Depreciation 817 867 868 878 819 851 852 865 905 974 1,078 1,084
Profit before tax 1,536 1,132 1,065 1,395 894 1,274 1,854 3,594 3,371 3,025 2,423 2,330
Tax % 29% 42% 33% 29% 32% 35% 5% 20% 31% 31% 34% 36%
Net Profit 1,096 647 730 1,014 626 839 1,774 2,879 2,366 2,087 1,603 1,495
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
8,555 12,427 15,934 18,957 24,106 34,368 38,210 51,220 52,972 41,546 55,604 70,225 84,757
5,888 8,950 12,944 14,887 19,238 27,571 31,715 42,075 43,616 35,127 43,302 55,328 65,854
Operating Profit 2,667 3,478 2,990 4,070 4,868 6,797 6,495 9,145 9,355 6,420 12,302 14,897 18,903
OPM % 31% 28% 19% 21% 20% 20% 17% 18% 18% 15% 22% 21% 22%
Other Income 164 314 -520 543 190 -1,444 -290 -1,606 111 -1,964 24 -200 204
Interest 407 626 1,168 1,115 1,060 1,427 1,967 3,048 3,493 3,601 3,768 3,701 3,917
Depreciation 498 742 988 1,299 1,560 1,933 2,237 3,183 3,434 3,323 3,430 3,387 4,041
Profit before tax 1,927 2,424 315 2,200 2,438 1,993 1,999 1,308 2,539 -2,468 5,128 7,609 11,149
Tax % 32% 32% 23% 29% 32% 25% 42% 70% 32% 80% 33% 20%
Net Profit 1,304 1,640 275 1,598 1,754 538 963 452 1,797 -335 3,523 6,214 7,551
EPS in Rs 5.52 6.29 0.96 6.18 5.90 1.68 3.14 1.24 5.64 0.00 11.70 20.58
Dividend Payout % 22% 21% 9% 15% 20% 40% 30% 74% 19% -67% 19% 16%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.91%
5 Years:12.94%
3 Years:9.85%
TTM:17.83%
Compounded Profit Growth
10 Years:15.28%
5 Years:42.17%
3 Years:104.65%
TTM:23.42%
Return on Equity
10 Years:11.35%
5 Years:11.89%
3 Years:17.63%
Last Year:25.64%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
504 537 537 527 563 563 563 1,067 1,067 301 301 302 301
Reserves 5,133 7,352 7,267 8,730 15,437 16,186 16,781 20,871 21,987 18,665 22,346 27,696 34,494
Borrowings 4,173 12,136 16,550 16,173 16,476 19,909 21,346 34,762 37,990 42,204 43,334 39,393 35,989
3,711 6,626 10,382 10,637 14,018 17,928 19,317 24,664 28,332 21,296 30,443 32,833 44,130
Total Liabilities 13,242 26,362 34,448 35,788 46,215 54,307 57,728 80,600 88,612 82,465 96,424 100,224 114,914
8,193 15,814 19,092 22,352 26,904 33,812 34,717 47,046 52,176 56,140 58,730 57,848 62,993
CWIP 2,012 5,771 9,585 6,956 6,023 2,832 5,898 9,400 8,265 7,271 4,363 5,950 11,540
Investments 245 470 397 628 2,914 2,090 1,750 663 599 1,195 1,366 1,469 1,894
2,792 4,308 5,374 5,852 10,374 15,574 15,363 23,492 27,571 17,860 31,965 34,957 38,487
Total Assets 13,242 26,362 34,448 35,788 46,215 54,307 57,728 80,600 88,612 82,465 96,424 100,224 114,914

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
2,822 3,266 4,592 3,346 2,830 3,512 5,844 2,594 7,876 6,897 7,888 12,379
-2,243 -9,789 -5,841 -2,932 -7,633 -4,101 -5,433 -5,618 -7,372 -3,857 -5,094 -4,529
-384 6,696 1,236 -561 5,096 698 -791 3,300 -169 -3,151 -2,710 -8,185
Net Cash Flow 194 172 -12 -147 293 110 -380 276 334 -111 84 -335

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 20% 10% 13% 12% 14% 11% 13% 6% 5% 14% 18%
Debtor Days 10 16 9 13 14 16 20 16 17 24 27 24
Inventory Turnover 7.78 6.24 6.55 6.63 6.74 6.77 7.50 5.53 4.30 5.64 5.85