JSW Holdings (JSWHL) Q4 17/18 earnings summary

Executive summary

• Standalone total revenue rose to ₹8,931.90 lakh from ₹6,335.16 lakh; net profit increased 43.70% YoY to ₹6,809.22 lakh.

• Consolidated profit after tax rose 42.41% YoY to ₹6,865.56 lakh, including ₹54.24 lakh share of profit from associates.

• Income was driven by dividends of ₹3,955.37 lakh, interest of ₹3,573.15 lakh and pledge fees of ₹1,336.59 lakh.

Financial highlights

• Standalone profit before depreciation and tax was ₹8,422.87 lakh; depreciation was ₹3.00 lakh and tax expense ₹1,610.65 lakh.

• Consolidated revenue was ₹8,934.00 lakh versus ₹6,335.16 lakh; consolidated profit before tax was ₹8,421.97 lakh.

• No equity dividend was recommended for FY18 to conserve resources.

Outlook and guidance

• Long-term strategy: invest in new JSW Group ventures and consolidate existing holdings through further investments.

• Steel demand was projected to grow at least 7–8% from 5.2%; crude steel output was projected to rise at least 8% to 108 MT by 2018.

• India’s finished-steel export share was projected to rise from 9.6% to at least 12% amid a favorable global steel market backdrop.