JSW Holdings (JSWHL) Q4 23/24 earnings summary

Executive summary

• FY24 revenue and profit declined from FY23 as dividend income fell; consolidated PAT was ₹15,555.89 lakh, including ₹3,691.08 lakh share of associate profits.

• Total comprehensive income rose to ₹6,02,506.53 lakh, driven by ₹5,86,950.64 lakh of consolidated OCI, largely reflecting fair-value gains on equity investments.

• The unregistered CIC held 7.42% of JSW Steel at March 31, 2024, with market value close to ₹15,000 crore; prospects depend substantially on investee performance and steel-sector conditions.

Financial highlights

• Revenue was ₹16,956.08 lakh in FY24 vs ₹40,676.48 lakh in FY23; dividend income was ₹6,288.97 lakh vs ₹31,547.01 lakh.

• Standalone PBT was ₹15,748.98 lakh vs ₹40,086.06 lakh; PAT was ₹11,864.81 lakh vs ₹29,960.89 lakh.

• Consolidated PAT was ₹15,555.89 lakh vs ₹33,149.51 lakh; associate profit contribution was ₹3,691.08 lakh vs ₹3,188.62 lakh.

• Standalone operating EBITDA was ₹15,749.25 lakh vs ₹40,086.53 lakh; diluted EPS was ₹106.89 vs ₹269.93.

• Standalone total comprehensive income was ₹5,48,078.52 lakh vs a loss of ₹67,839.43 lakh; OCI was ₹5,36,213.71 lakh vs a loss of ₹97,800.32 lakh.

Outlook and guidance

• Outlook anticipates sustainable growth in investee businesses and shareholder value, supported by expected sustained Indian steel demand and infrastructure-led growth.

• Central government FY25 interim-budget capex was set at ₹11.11 lakh crore, or 3.4% of GDP; plans also include 2 crore additional PMAY homes.