Jindal Stainless (JSL) Q4 23/24 earnings summary

Executive summary

• Record Q4 FY24 sales volume of 570,000 MT, up 12% YoY; FY24 volume rose 23% to 2.175 million MT.

• FY24 consolidated revenue reached ₹38,562 crore, up 8% YoY; EBITDA was ₹4,704 crore, up 31%, and PAT was ₹2,693 crore, up 29%.

Financial highlights

• Standalone Q4 FY24 revenue was ₹9,521 crore, up 1% YoY; EBITDA fell 25% to ₹827 crore and PAT fell 28% to ₹476 crore.

• Standalone FY24 revenue rose 9% to ₹38,356 crore; EBITDA increased 13% to ₹4,036 crore and PAT increased 26% to ₹2,531 crore.

• Consolidated Q4 FY24 revenue declined 3% YoY to ₹9,454 crore; EBITDA fell 10% to ₹1,035 crore and PAT fell 30% to ₹501 crore.

• Consolidated EBITDA per ton was ₹18,150 in Q4 FY24, down 19% YoY; FY24 was ₹21,633 per ton, up 6%.

Outlook and guidance

• Process industries, including petrochemical, water treatment and nuclear, have a positive outlook due to enhanced project activity.

• Healthy demand is expected in two-wheelers and passenger vehicles; infrastructure demand outlook remains positive, with growth potential in structural applications.

• Annual melt capacity is being ramped up toward 4.2 million tonnes.