Jindal Stainless Q2 Results Live : Jindal Stainless declared their Q2 results on 17 October 2024, revealing a slight decrease in topline revenue by 0.21% year-over-year. The company reported a notable profit decline of 21.05%, raising concerns among investors and analysts alike.
Comparing the current quarter to the previous one, revenue showed a growth of 3.68%, while profit saw a decrease of 5.67%. This indicates potential volatility in the company's financial performance as market conditions fluctuate.
The Selling, General & Administrative (SG&A) expenses rose by 0.83% quarter-on-quarter and surged by an alarming 44.98% year-on-year. This significant increase in expenses could be a contributing factor to the decline in profitability.
Operating income for Jindal Stainless was down by 3.43% quarter-on-quarter and decreased by 14.75% year-on-year, further reflecting challenges in maintaining operational efficiency amidst rising costs.
The Earnings Per Share (EPS) for Q2 stands at ₹7.41, which represents a decrease of 12.4% compared to the same quarter last year, highlighting the pressures on the company's earnings.
In terms of stock performance, Jindal Stainless has delivered a 0.59% return in the last week, a substantial 12.68% return over the past six months, and an impressive 32.93% year-to-date return, showcasing resilience despite the quarterly setbacks.
As of now, Jindal Stainless holds a market capitalization of ₹62,622.2 crore, with a 52-week high of ₹848 and a low of ₹427.15, indicating a wide fluctuation in investor sentiment over the past year.
According to analysts covering the company as of 18 October 2024, the consensus recommendation is to 'Strong Buy', with 1 analyst giving a 'Hold' rating, 3 'Buy' ratings, and 5 'Strong Buy' ratings, suggesting optimism for future performance despite current challenges.
Jindal Stainless Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 9776.83 | 9429.76 | +3.68% | 9797.04 | -0.21% |
| Selling/ General/ Admin Expenses Total | 205.72 | 204.03 | +0.83% | 141.9 | +44.98% |
| Depreciation/ Amortization | 240.9 | 232.36 | +3.68% | 221.94 | +8.54% |
| Total Operating Expense | 8831.02 | 8450.4 | +4.5% | 8687.6 | +1.65% |
| Operating Income | 945.81 | 979.36 | -3.43% | 1109.44 | -14.75% |
| Net Income Before Taxes | 834.27 | 885.94 | -5.83% | 993.14 | -16% |
| Net Income | 611.31 | 648.06 | -5.67% | 774.33 | -21.05% |
| Diluted Normalized EPS | 7.41 | 7.86 | -5.73% | 8.46 | -12.4% |
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