AgenciesICICI Securities has buy call on Jindal Stainless with a target price of Rs 180. The current market price of Jindal Stainless Ltd. is Rs 145.6.
Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 7648.59 Crore) operating in Metals - Ferrous sector.
Jindal Stainless Ltd. key Products/Revenue Segments include Steel, Sale of services, Export Incentives, Job Work and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 5621.97 Crore, up 2.39 % from last quarter Total Income of Rs 5490.91 Crore and up 11.52 % from last year same quarter Total Income of Rs 5041.26 Crore. Company reported net profit after tax of Rs 151.84 Crore in latest quarter.
Investment Rationale
The brokerage reinitiates coverage on JSL with a BUY rating. Factoring-in the threat of high imports and lacklustre international prices, we value JSL at 5x FY24E EBITDA resulting in a target price of Rs180, implying ~20% upside to CMP.
Promoter/FII Holdings
Promoters held 70.1 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.77 per cent, DIIs 5.85 per cent.
Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 7648.59 Crore) operating in Metals - Ferrous sector.
Jindal Stainless Ltd. key Products/Revenue Segments include Steel, Sale of services, Export Incentives, Job Work and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 5621.97 Crore, up 2.39 % from last quarter Total Income of Rs 5490.91 Crore and up 11.52 % from last year same quarter Total Income of Rs 5041.26 Crore. Company reported net profit after tax of Rs 151.84 Crore in latest quarter.
Investment Rationale
The brokerage reinitiates coverage on JSL with a BUY rating. Factoring-in the threat of high imports and lacklustre international prices, we value JSL at 5x FY24E EBITDA resulting in a target price of Rs180, implying ~20% upside to CMP.
Promoter/FII Holdings
Promoters held 70.1 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.77 per cent, DIIs 5.85 per cent.
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