AgenciesRelated
Motilal Oswal has buy call on Jindal Steel & Power with a target price of Rs 550. The current market price of Jindal Steel & Power Ltd. is Rs 422.8.
Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 48573.16 Crore) operating in Metals - Ferrous sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 11903.59 Crore, up 9.22 % from last quarter Total Income of Rs 10898.70 Crore and up 34.73 % from last year same quarter Total Income of Rs 8835.23 Crore. Company reported net profit after tax of Rs 2139.28 Crore in latest quarter.
Investment Rationale
The brokerage TP of INR550/share is based on 5x FY23E EV/EBITDA for the Steel business and announced deal valuation for the Power business. At the CMP, the stock trades at an attractive 4.2x FY23E EV/EBITDA for the Steel business.
Promoter/FII Holdings
Promoters held 60.5 per cent stake in the company as of March 31, 2021, while FIIs held 11 per cent, DIIs 16.9 per cent and public and others 11.6 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Jindal Steel & Power Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 48573.16 Crore) operating in Metals - Ferrous sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 11903.59 Crore, up 9.22 % from last quarter Total Income of Rs 10898.70 Crore and up 34.73 % from last year same quarter Total Income of Rs 8835.23 Crore. Company reported net profit after tax of Rs 2139.28 Crore in latest quarter.
Investment Rationale
The brokerage TP of INR550/share is based on 5x FY23E EV/EBITDA for the Steel business and announced deal valuation for the Power business. At the CMP, the stock trades at an attractive 4.2x FY23E EV/EBITDA for the Steel business.
Promoter/FII Holdings
Promoters held 60.5 per cent stake in the company as of March 31, 2021, while FIIs held 11 per cent, DIIs 16.9 per cent and public and others 11.6 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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