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ICICI Direct has buy call on JSW Steel with a target price of Rs 800. The current market price of JSW Steel Ltd. is Rs 701.45. Time period given by analyst is one year when JSW Steel Ltd. price can reach defined target.
JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 168359.40 Crore) operating in Metals - Ferrous sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 27095.00 Crore, up 23.13 % from last quarter Total Income of Rs 22006.00 Crore and up 50.45 % from last year same quarter Total Income of Rs 18009.00 Crore. Company reported net profit after tax of Rs 4179.00 Crore in latest quarter.
Investment Rationale
On the back of strength in steel prices, the brokerage expects JSW Steel to report a healthy performance for Q1FY22E. For the quarter, the brokerage expects JSW Steel's standalone sales volume to come in at 3.6 MT, up 29% YoY but down 12% QoQ. For Q1FY22, the brokerage expects consolidated topline at Rs 26169 crore, up 122% YoY but down 3% QoQ while consolidated EBITDA is likely to come in at Rs 9015 crore, up 572% YoY, 7% QoQ. For Q1FY22, EBITDA/tonne is expected at Rs 24000/tonne (Rs 5104/tonne in Q1FY21 and Rs 19756/tonne in Q4FY21). Consolidated EBITDA margin for Q1FY22 is likely to come in at 34.4% (11.4% in Q1FY21, 31.1% in Q4FY21).
Promoter/FII Holdings
Promoters held 44.1 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.8 per cent, DIIs 6.8 per cent and public and others 35.3 per cent.
JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 168359.40 Crore) operating in Metals - Ferrous sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 27095.00 Crore, up 23.13 % from last quarter Total Income of Rs 22006.00 Crore and up 50.45 % from last year same quarter Total Income of Rs 18009.00 Crore. Company reported net profit after tax of Rs 4179.00 Crore in latest quarter.
Investment Rationale
On the back of strength in steel prices, the brokerage expects JSW Steel to report a healthy performance for Q1FY22E. For the quarter, the brokerage expects JSW Steel's standalone sales volume to come in at 3.6 MT, up 29% YoY but down 12% QoQ. For Q1FY22, the brokerage expects consolidated topline at Rs 26169 crore, up 122% YoY but down 3% QoQ while consolidated EBITDA is likely to come in at Rs 9015 crore, up 572% YoY, 7% QoQ. For Q1FY22, EBITDA/tonne is expected at Rs 24000/tonne (Rs 5104/tonne in Q1FY21 and Rs 19756/tonne in Q4FY21). Consolidated EBITDA margin for Q1FY22 is likely to come in at 34.4% (11.4% in Q1FY21, 31.1% in Q4FY21).
Promoter/FII Holdings
Promoters held 44.1 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.8 per cent, DIIs 6.8 per cent and public and others 35.3 per cent.
(Disclaimer: 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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