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Time of India
13-05-2025
- Business
- Time of India
Jindal Stainless shares rise 2% as Motilal Oswal initiates coverage with buy call, sees 24% upside
Shares of Jindal Stainless climbed as much as 1.6% on Tuesday to Rs 620.50 on the BSE after brokerage Motilal Oswal initiated coverage on the stock with a 'buy' rating at a target price of Rs 770, implying a potential upside of 24% from current levels, citing robust demand prospects, expansion plans, and a focus on value-added products. Motilal Oswal said it expects Jindal Stainless to deliver a 14% revenue CAGR between FY25 and FY27, supported by a 10% volume CAGR and 4% growth in net sales realisation (NSR). 'We expect the company to report EBITDA/APAT CAGR of 17%/21% over FY25–27,' the brokerage said. The company is undertaking a significant capacity expansion , with plans to increase total capacity by 40% to 4.2 million tonnes per annum (MTPA) by FY27. 'New capacity additions will support upstream production and cater to rising demand,' the brokerage said. Motilal Oswal also highlighted the company's strategic acquisitions and increased raw material security as key drivers of its long-term growth. Jindal Stainless has already demonstrated solid growth momentum, with a 12% CAGR in revenue between FY22 and FY25, largely driven by a similar 12% growth in volumes, the brokerage said. Recent earnings show steady performance The brokerage's coverage initiation comes shortly after Jindal Stainless reported its Q4FY25 results last week. Consolidated net profit rose 18% year-on-year to Rs 590.99 crore, supported by higher sales volumes. Revenue from operations grew 7.9% Y-o-Y to Rs 10,198 crore. On a sequential basis, however, net profit fell 9.8% even as revenue grew 2.9%. For the full year FY25, consolidated revenue stood at Rs 39,312.21 crore, a 1.9% increase from the previous year. Net profit declined 7.7% Y-o-Y to Rs 2,505.20 crore. Managing Director Abhyuday Jindal said the company achieved 9–10% volume growth during the year and expects a similar pace in FY26. He also noted the company is targeting a 30% jump in export volumes this year. Jindal also commented on the U.S. steel import tariffs, saying the recently announced 25% blanket duty would create a level playing field for all global players. 'The 25% duty was already there on imports from India and China since 2018. But now it's a blanket duty on everybody,' he said. Investment plans, technicals The company recently signed a non-binding memorandum of understanding with the Maharashtra government for a potential investment of Rs 40,000 crore to set up a stainless steel manufacturing facility over the next 10 years. The facility is expected to generate more than 15,000 jobs. Jindal Stainless shares have fallen nearly 10% over the past year and are down 11% in the last six months. However, the stock has rebounded recently, gaining 14.4% in the past month and 5.8% in the last week. On the technical front, the stock is trading below three of its eight key simple moving averages (SMAs) — the 100-day, 150-day, and 200-day SMAs — suggesting mixed momentum. The 14-day Relative Strength Index (RSI) stands at 60.1, indicating the stock is not yet in overbought territory. Also read | I-Sec maintains Buy on Jindal Stainless, lowers target price to Rs 760 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
13-05-2025
- Business
- Economic Times
Jindal Stainless shares rise 2% as Motilal Oswal initiates coverage with buy call, sees 24% upside
Shares of Jindal Stainless climbed as much as 1.6% on Tuesday to Rs 620.50 on the BSE after brokerage Motilal Oswal initiated coverage on the stock with a 'buy' rating at a target price of Rs 770, implying a potential upside of 24% from current levels, citing robust demand prospects, expansion plans, and a focus on value-added products. ADVERTISEMENT Motilal Oswal said it expects Jindal Stainless to deliver a 14% revenue CAGR between FY25 and FY27, supported by a 10% volume CAGR and 4% growth in net sales realisation (NSR). 'We expect the company to report EBITDA/APAT CAGR of 17%/21% over FY25–27,' the brokerage said. The company is undertaking a significant capacity expansion, with plans to increase total capacity by 40% to 4.2 million tonnes per annum (MTPA) by FY27. 'New capacity additions will support upstream production and cater to rising demand,' the brokerage said. Motilal Oswal also highlighted the company's strategic acquisitions and increased raw material security as key drivers of its long-term growth. Jindal Stainless has already demonstrated solid growth momentum, with a 12% CAGR in revenue between FY22 and FY25, largely driven by a similar 12% growth in volumes, the brokerage brokerage's coverage initiation comes shortly after Jindal Stainless reported its Q4FY25 results last week. Consolidated net profit rose 18% year-on-year to Rs 590.99 crore, supported by higher sales volumes. Revenue from operations grew 7.9% Y-o-Y to Rs 10,198 crore. On a sequential basis, however, net profit fell 9.8% even as revenue grew 2.9%. ADVERTISEMENT For the full year FY25, consolidated revenue stood at Rs 39,312.21 crore, a 1.9% increase from the previous year. Net profit declined 7.7% Y-o-Y to Rs 2,505.20 crore. Managing Director Abhyuday Jindal said the company achieved 9–10% volume growth during the year and expects a similar pace in FY26. He also noted the company is targeting a 30% jump in export volumes this also commented on the U.S. steel import tariffs, saying the recently announced 25% blanket duty would create a level playing field for all global players. 'The 25% duty was already there on imports from India and China since 2018. But now it's a blanket duty on everybody,' he said. ADVERTISEMENT The company recently signed a non-binding memorandum of understanding with the Maharashtra government for a potential investment of Rs 40,000 crore to set up a stainless steel manufacturing facility over the next 10 years. The facility is expected to generate more than 15,000 jobs. Jindal Stainless shares have fallen nearly 10% over the past year and are down 11% in the last six months. However, the stock has rebounded recently, gaining 14.4% in the past month and 5.8% in the last week. ADVERTISEMENT On the technical front, the stock is trading below three of its eight key simple moving averages (SMAs) — the 100-day, 150-day, and 200-day SMAs — suggesting mixed momentum. The 14-day Relative Strength Index (RSI) stands at 60.1, indicating the stock is not yet in overbought territory. Also read | I-Sec maintains Buy on Jindal Stainless, lowers target price to Rs 760 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
The Print
12-05-2025
- Business
- The Print
JSL serious on Rs 40,000-cr investment in Maharashtra; looking for land parcel: MD Abhyuday Jindal
In an interview to PTI, Jindal said, 'We are very serious about the investment. Currently, we are in discussions with the state government for acquisition of land.' He made the remarks in reply to a question seeking an update on the agreement signed with the Maharashtra government in March this year. At present, Jindal Stainless has a capacity of 3 million tonnes per annum at its two plants in Hisar (Haryana) and Jajpur (Odisha). The company is in the process of ramping up capacity to 4.2 MT by FY27. New Delhi, May 11 (PTI) Jindal Stainless is 'serious about Maharashtra' and is engaged in discussions with the state government to acquire a land parcel for its proposed Rs 40,000-crore stainless steel manufacturing facility, its MD Abhyuday Jindal said. On the capex for FY26, Jindal said it has been fixed at Rs 2,700 crore, which includes Rs 1,000 crore spillover of FY25. In FY25, the company's capex guidance was Rs 5,500 crore but it translated into Rs 4,500 crore. So the remaining has been added to FY26. On the India-UK FTA, he said it may not have a direct impact but can indirectly impact growth of the company through its customers. Jindal further said as of now, JSL is not looking for new markets and will continue to focus on the US and Europe for exports. He said during the March quarter, the export demand began to rise once more, which was fulfilled by ramping up capacity utilisation. This is projected to continue improving in the short and mid-term, especially in quality-conscious markets like the US and the EU, as 'the old customers have started to return'. On imports, the MD said, Chinese and Vietnamese imports continued to challenge India's stainless steel industry, accounting for over 70 per cent of total imports in this fiscal year, with low-priced stainless steel often rerouted through ASEAN countries, including Vietnam. As per company information, JSL's investment proposal has also been approved in a meeting of the state cabinet subcommittee. The project, with an estimated investment of Rs 40,000 crore, is scheduled to be developed over the next 10 years, which is expected to create more than 15,000 jobs. The proposed stainless steel facility will have a total melting capacity of 4 million tonnes per annum and will be constructed in phases, with the first phase expected to be operational in the next four years. JSL will also produce specialised grades for critical applications in emerging sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure, and process industries. The government of Maharashtra will support the proposed investment by expediting the necessary permissions, registrations, approvals, clearances, and fiscal incentives from the relevant state departments, according to information provided by the company. Jindal Stainless Ltd (JSL) is India's largest stainless-steel manufacturer and posted an annual turnover of Rs 40,182 crore in FY25. It is ramping up facilities to reach 4.2 million tonnes of annual melt capacity by FY27. The company has 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2025. PTI ABI TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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Business Standard
11-05-2025
- Business
- Business Standard
JSL keen on ₹40K cr investment in Maharashtra, looking for land parcel: MD
Jindal Stainless is "serious about Maharashtra" and is engaged in discussions with the state government to acquire a land parcel for its proposed ₹40,000-crore stainless steel manufacturing facility, its MD Abhyuday Jindal said. At present, Jindal Stainless has a capacity of 3 million tonnes per annum at its two plants in Hisar (Haryana) and Jajpur (Odisha). The company is in the process of ramping up capacity to 4.2 MT by FY27. In an interview to PTI, Jindal said, "We are very serious about the investment. Currently, we are in discussions with the state government for acquisition of land." He made the remarks in reply to a question seeking an update on the agreement signed with the Maharashtra government in March this year. On the capex for FY26, Jindal said it has been fixed at ₹2,700 crore, which includes ₹1,000 crore spillover of FY25. In FY25, the company's capex guidance was ₹5,500 crore but it translated into ₹4,500 crore. So the remaining has been added to FY26. On the India-UK FTA, he said it may not have a direct impact but can indirectly impact growth of the company through its customers. Jindal further said as of now, JSL is not looking for new markets and will continue to focus on the US and Europe for exports. He said during the March quarter, the export demand began to rise once more, which was fulfilled by ramping up capacity utilisation. This is projected to continue improving in the short and mid-term, especially in quality-conscious markets like the US and the EU, as "the old customers have started to return". On imports, the MD said, Chinese and Vietnamese imports continued to challenge India's stainless steel industry, accounting for over 70 per cent of total imports in this fiscal year, with low-priced stainless steel often rerouted through ASEAN countries, including Vietnam. As per company information, JSL's investment proposal has also been approved in a meeting of the state cabinet subcommittee. The project, with an estimated investment of Rs 40,000 crore, is scheduled to be developed over the next 10 years, which is expected to create more than 15,000 jobs. The proposed stainless steel facility will have a total melting capacity of 4 million tonnes per annum and will be constructed in phases, with the first phase expected to be operational in the next four years. JSL will also produce specialised grades for critical applications in emerging sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure, and process industries. The government of Maharashtra will support the proposed investment by expediting the necessary permissions, registrations, approvals, clearances, and fiscal incentives from the relevant state departments, according to information provided by the company. Jindal Stainless Ltd (JSL) is India's largest stainless-steel manufacturer and posted an annual turnover of Rs 40,182 crore in FY25. It is ramping up facilities to reach 4.2 million tonnes of annual melt capacity by FY27. The company has 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2025.
Time of India
11-05-2025
- Business
- Time of India
JSL serious on Rs 40,000-cr investment in Maharashtra; looking for land parcel: MD Abhyuday Jindal
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Ind'l Goods/Svs 1. Bhushan Power creditors weigh legal options after SC scraps JSW Steel deal Tired of too many ads? Remove Ads Jindal Stainless is "serious about Maharashtra" and is engaged in discussions with the state government to acquire a land parcel for its proposed Rs 40,000-crore stainless steel manufacturing facility, its MD Abhyuday Jindal said. At present, Jindal Stainless has a capacity of 3 million tonnes per annum at its two plants in Hisar (Haryana) and Jajpur (Odisha). The company is in the process of ramping up capacity to 4.2 MT by an interview to PTI, Jindal said, "We are very serious about the investment. Currently, we are in discussions with the state government for acquisition of land."He made the remarks in reply to a question seeking an update on the agreement signed with the Maharashtra government in March this the capex for FY26, Jindal said it has been fixed at Rs 2,700 crore, which includes Rs 1,000 crore spillover of FY25, the company's capex guidance was Rs 5,500 crore but it translated into Rs 4,500 crore. So the remaining has been added to the India-UK FTA, he said it may not have a direct impact but can indirectly impact growth of the company through its further said as of now, JSL is not looking for new markets and will continue to focus on the US and Europe for said during the March quarter, the export demand began to rise once more, which was fulfilled by ramping up capacity utilisation. This is projected to continue improving in the short and mid-term, especially in quality-conscious markets like the US and the EU, as "the old customers have started to return".On imports, the MD said, Chinese and Vietnamese imports continued to challenge India's stainless steel industry, accounting for over 70 per cent of total imports in this fiscal year, with low-priced stainless steel often rerouted through ASEAN countries, including per company information, JSL's investment proposal has also been approved in a meeting of the state cabinet subcommittee. The project, with an estimated investment of Rs 40,000 crore, is scheduled to be developed over the next 10 years, which is expected to create more than 15,000 proposed stainless steel facility will have a total melting capacity of 4 million tonnes per annum and will be constructed in phases, with the first phase expected to be operational in the next four will also produce specialised grades for critical applications in emerging sectors such as hydrogen, nuclear energy, defence, mobility, infrastructure, and process government of Maharashtra will support the proposed investment by expediting the necessary permissions, registrations, approvals, clearances, and fiscal incentives from the relevant state departments, according to information provided by the company. Jindal Stainless Ltd (JSL) is India's largest stainless-steel manufacturer and posted an annual turnover of Rs 40,182 crore in FY25. It is ramping up facilities to reach 4.2 million tonnes of annual melt capacity by company has 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2025.
