JSW Holdings (JSWHL) Q4 14/15 earnings summary

Executive summary

• FY15 total income rose to ₹4,935.74 lakh from ₹4,333.47 lakh; net profit increased ~11% to ₹3,671.02 lakh from ₹3,296.00 lakh.

• Income came primarily from dividends, interest and pledge fees; no equity dividend was recommended to conserve resources.

Financial highlights

• Total income: ₹4,935.74 lakh vs ₹4,333.47 lakh in FY14; dividend income ₹1,956.64 lakh, interest ₹2,238.29 lakh and pledge fees ₹737.92 lakh.

• Profit before depreciation and tax was ₹4,630.11 lakh; depreciation ₹3.09 lakh; profit before tax ₹4,627.02 lakh; tax ₹956.00 lakh; net profit ₹3,671.02 lakh.

• Basic and diluted EPS were ₹33.07 vs ₹29.69 in FY14.

Outlook and guidance

• FY16 Indian steel demand was projected to grow 6–6.5%, supported by expected GDP growth of 8–8.5%; long-term investments in JSW Group ventures and existing holdings remained the focus.

• Expected sustainable growth among investee companies and the steel sector was seen as a source of shareholder value enhancement.