JSPL Consolidated Revenue up 27% in Q4, steel production up 32%



Bhubaneswar : Steel major JSPL today reported Consolidated Revenues of Rs. 8,599 Cr, a growth of 27% YoY in the fourth quarter, while Consolidated EBITDA during the quarter has increased to Rs. 2,136 Cr from Rs. 1,552 Cr (in 4QFY17), up 38% YoY.  The company produced 1.72 million tonnes (up 32% from 1.30 million tonnes in 4QFY17) and sold 1.66 million tonnes (up 27% from 1.31 million tonnes in 4QFY17).

The Company achieved a Consolidated Steel Sales of 5.44 million tonnes in FY18, up by 17% Y-o-Y and production of 5.70 million tonnes (Vs. 4.80 million tonnes in FY17). JSPL achieved its highest ever-annual revenue of Rs. 27,841 Cr, which is 23% higher than previous year. The aggregate EBITDA rose by 37% compared to previous year FY17. The overall EBITDA for FY18 stood at 23% vs. 21% for FY17, supported by better operating profits across all its Steel & Power business globally. As of year ended 31st March’2018, JSPL consolidated net debt was at Rs. 42,000 Cr levels.

JSPL Standalone Steel production rose 38% in the reported quarter to 1.26 million tonnes (0.91 million tonnes in 4QFY17) while Standalone Steel sales during 4QFY18 increased to 1.18 million tonnes (up 29% YoY). The rise in sales realizations was partly offset by the corresponding increase in raw material prices with EBITDA in 4QFY18 increasing by 66% YoY to Rs. 1,519 Cr. The Company reported an expansion in the EBITDA margins, at 26% as compared to the last quarter (22%). The quarter marked JSPL’s turnaround back to profits after 13 successive quarters, reporting a Profit After Tax at Rs. 145 Cr as compared to a Loss of Rs. 74 Cr last quarter and a loss of Rs. 116 Cr last year.

During 4QFY18, production of iron ore pellets increased by 15% YoY to 1.84 million tonnes and the company achieved external sales of pellets of 0.74 MT during 4QFY18.

On a full year basis, JSPL standalone Sales turnover in FY18 rose by 13% while EBITDA at Rs. 3,973 Cr increased by 37% compared to the previous year. The EBITDA margins came at 23% as compared to 19% in the previous year, primarily supported by better than expected steel sales realizations.

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