Jayaswal Neco Industries (522285) Q4 23/24 earnings summary

Executive summary

• FY24 revenue from operations was ₹593,355 lakh and net profit ₹20,998 lakh; steel segment results increased YoY, while exceptional charges reduced reported PBT.

• The audit opinion on FY24 results was unmodified; the auditors highlighted the ₹30,758 lakh property attachments, which were stayed and are being contested.

Financial highlights

• Q4 FY24 revenue from operations was ₹141,143 lakh versus ₹146,929 lakh YoY; net profit was ₹203 lakh versus ₹520 lakh.

• FY24 revenue from operations was ₹593,355 lakh versus ₹634,286 lakh; profit before exceptional items and tax was ₹30,990 lakh versus ₹8,529 lakh.

• FY24 reported PBT was ₹29,104 lakh after ₹1,886 lakh of exceptional items; net profit was ₹20,998 lakh versus ₹22,687 lakh YoY.

• FY24 basic EPS was ₹2.16 after exceptional items and ₹2.36 before exceptional items, versus ₹2.34 and ₹2.86, respectively, in FY23.

Segment performance

• FY24 steel revenue was ₹543,202 lakh versus ₹579,897 lakh; segment results rose to ₹77,099 lakh from ₹50,834 lakh.

• FY24 iron and steel castings revenue was ₹55,895 lakh versus ₹59,652 lakh; segment results were ₹1,116 lakh versus ₹2,480 lakh.

• Q4 FY24 steel revenue was ₹127,542 lakh and iron and steel castings revenue was ₹14,822 lakh; total segment turnover was ₹142,366 lakh before inter-segment revenue.