JSW Holdings (JSWHL) Q4 15/16 earnings summary

Executive summary

• FY16 total income reached ₹5,034.92 lakh; net profit was ₹3,660.79 lakh, with interest, dividends and pledge fees as the principal income sources.

• Long-term investment strategy remained focused on JSW Group businesses; no equity dividend was recommended to conserve resources.

Financial highlights

• Total income ₹5,034.92 lakh vs ₹4,935.74 lakh in FY15; dividend income ₹1,901.35 lakh, interest ₹2,658.99 lakh and pledge fees ₹474.58 lakh.

• PBT ₹4,680.79 lakh vs ₹4,627.02 lakh; depreciation ₹1.88 lakh and tax ₹1,020 lakh; net profit ₹3,660.79 lakh vs ₹3,671.02 lakh, down 0.28%.

• Operating cash flow ₹3,589.50 lakh; investing cash outflow ₹2,512.61 lakh; closing cash and cash equivalents ₹1,135.80 lakh.

Outlook and guidance

• Strategy targets sustainable growth in investee businesses through long-term investments in new group ventures and further investment in existing holdings.

• FY17 outlook anticipated stronger global steel demand, recovering international prices, import realizations up 5.8%, and domestic price support from demand and reduced import pressure.