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Home » business » Despite volatile market, JSPL standalone sales turnover in FY17 rose by 5%

Despite volatile market, JSPL standalone sales turnover in FY17 rose by 5%

By Newsd
Updated on :
Source: jindalsteelpower

Jindal Steel and Power Ltd (JSPL) that started  its  performance  recovery  in  3QFY17, managed the uncertainties well and achieved  performance  level  which  were  superior  not  only  compared  to  FY16  but  also  Q3. Although market for raw materials and finished products were quite volatile, the company continued its momentum for an all round improvement of its performance through 4QFY17.

JSPL sales during 4Q increased by 13% and 17% compared to 4QFY16 and 3QFY17 respectively. EBITDA for the same period increased by 34% and 17% respectively.  EBITDA margin in the reported quarter stood at 20% compared to 17% in 4QFY16. The Profit Before Tax (PBT) in 4QFY17 improved 83% and 73% compared to 4QFY16 & 3QFY17 respectively.

On a full year basis, JSPL standalone sales turnover in FY17 rose by 5% while EBITDA at Rs 2,858 cr increased by 17% compared to the previous year.

The Pellet unit of JSPL achieved an unprecedented performance both in production and sales of pellets. During 4QFY17, sale of pellets increased by 33% to reach a level of 1.70 million tonnes.

While the production of pellets in FY17 increased by 41%, 6.5 million tonnes Vs. 4.6 million tonnes, the external dispatch to customers in domestic and export markets increased by three times in FY17 compared to FY16.

JSPL during FY17 emerged as the largest exporter of pellets with total export volumes of 2.33 million tonnes.

The combined export of steel and pellets during FY17 increased to Rs, 3,138 cr compared to a mere Rs. 708 Cr in FY16, which is 340% increase. JSPL exported its steel to Europe, Middle East, Africa and North America. Pellets were exported to China, Egypt, Oman and Turkey.

The Consolidated Sales for the quarter ended March’17 were this far its highest in any quarter. The  4QFY17  sales  were  about  24%  higher  while  the  EBITDA  for  the  same  period  (YoY) increased by 73%. 4QFY17 EBITDA, in absolute terms, increased to 23% from 16% in the same quarter of FY16. The overall PBT and PAT for 4QFY17 also improved by 94% and 85% YoY respectively.

JSPL achieved its highest ever-annual revenue of Rs. 22,696 Cr, which is 11% higher than previous year.  The  aggregate  EBITDA  rose  by  36%  compared  to  previous  year  FY16.  The overall EBITDA for FY17 stood at 21% vs. 17% for FY16.

The  Company  achieved  a  Consolidated  Steel  Sales  of  1.31  million  tonnes  in  4QFY17  and  4.7 million tonnes for the twelve months ended March’17. As of year ended 31st March’2017, JSPL consolidated net debt was Rs. 45,490 Cr.

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