JSPL reports strong revenue & PAT growth in Q4FY21

Jindal Steel & Power Limited (JSPL) filed its Q4 results for FY21 on Wednesday. The company has reported strong growth during this quarter. 

The total revenue from operations stood at Rs 11,903 crore, which is up by 74.5 per cent as compared to Rs 6,819 crore in Q4FY20. Iron and steel performed well, reporting revenue up by 77 per cent at Rs 10,235 crore as compared to Rs 5,775 crore in Q4FY20. The profit after tax (PAT) exceeded the market expectations, standing at Rs 2,139 crore in Q4FY21 as compared to Rs 305 crore in Q4FY20. The company finalised the EPS figures to be Rs 19.30 per share for the fourth quarter and Rs 51.7 for the year 2021.  

After a substantial period of time, the company reported revenue growth of 75 per cent and PAT growth of 7 times. The company's debt has reduced considerably, and it is planning to deploy its cash generated for doubling of Capex. The consolidated net debt level has come down to a comfortable position at Rs 19,700 crore post a recent pre-payment while the company is focussing on doubling the capacity mainly through internal accruals while keeping an eye on the debt/EBITDA ratio. The company will further continue its deleveraging strategy via another prepayment that is planned for October 2021, which will further slip the debt level to below Rs 15,000 crore. 

Today, the stock market is closed on the occasion of Id-Ul-Fitr (Ramzan Eid). On Wednesday, the share of Jindal Steel closed at Rs 456.70, which was 4.19 per cent down on BSE.