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JSW Steel Posts Financial Results for the Fourth Quarter
05/20/2015 - JSW Steel Limited reported its results for the Fourth Quarter and the Financial Year ended 31st March, 2015.
During the quarter, the Company reported Crude Steel production as well as Saleable Steel sales volume of 3.06 million tonnes.
Standalone Financial Performance:
JSW Steel recorded Gross Turnover and Net Sales for the quarter of `11,893 crores and `10,785 crores, respectively. The Company reported an Operating EBITDA of `1,673 crores and EBITDA margin of 15.2%. The Company made a provision of ` 105 crores during the quarter towards carrying value of its investment in subsidiaries, which is considered as exceptional in nature. Net profit after Tax was at `189 crores for the quarter.
Gross Turnover and Net Sales for FY2015 stood at `49,658 crores and `45,352 crores, respectively, both showing a growth of 2% on YoY basis. The Operating EBITDA for FY2015 was marginally up at `8,872 crores, despite the headwinds of intensifying competition from surging imports and sticky domestic iron ore prices (which were divergent from a sharp correction in global seaborne markets due to constrained availability). The company posted a Net profit of ` 2,166 crores for the year, up by 62%.
The net gearing as on 31st March 2015 stood at 1.02x (as against 1.21x as on 31st December 2014) and Net debt to EBITDA was at 2.97x (as against 3.22x as on 31st December 2014).
Consolidated Financial Performance:
JSW Steel recorded Gross Turnover and Net Sales of `13,534 crores and `12,364 crores respectively for the quarter. The Company reported an EBITDA of `1,683 crores and a Net Profit after Tax of `62 crores, respectively, after incorporating the financials of subsidiaries, joint ventures and associates.
Gross Turnover and Net Sales for FY2015 stood at `56,572 crores and `52,051 crores, respectively, showing a growth of 4% and 3% respectively, on YoY basis. The company was able to partly offset the headwind of intensifying price competition from surging imports with product mix enrichment. Ramp up of new downstream facilities led to the share of value added products in overall volumes improving to 33% during the year (from 24% in FY2014). The Operating EBITDA for the year was `9,402 crores, up by 3% on YoY basis, despite higher iron ore costs as the company had to resort to imports of iron ore during the year. The company posted a Net profit of `1,797 crores for FY 2015 compared to `452 crores in FY2014.
The net gearing at consolidated level was 1.55x as on 31st March 2015 (versus 1.70x as on 31st December 2014), Net debt to EBITDA at consolidated level was 3.81x (versus 3.86x as on 31st December 2014) and the weighted average interest cost of debt was at 7.32% (vis-à-vis 7.62% as on 31st December 2014).
A more detailed breakdown of financial results is available at http://www.jsw.in/investors/steel.
JSW Steel Ltd., belonging to the JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interests in mining, carbon steel, power, industrial gases, ports and cement. JSW Steel Limited is engaged in manufacture of flat and long products viz. hot rolled coils, cold rolled coils, galvanised products, galvalume products, colour coated products, auto grade / white goods grade flat products, bars and rods. Incorporated in 1994, it has grown to about US $11 billion. JSW Steel Limited is one of the largest producers and exporters of coated flat products in the country with presence in over 100 countries across five continents.
Standalone Financial Performance:
JSW Steel recorded Gross Turnover and Net Sales for the quarter of `11,893 crores and `10,785 crores, respectively. The Company reported an Operating EBITDA of `1,673 crores and EBITDA margin of 15.2%. The Company made a provision of ` 105 crores during the quarter towards carrying value of its investment in subsidiaries, which is considered as exceptional in nature. Net profit after Tax was at `189 crores for the quarter.
Gross Turnover and Net Sales for FY2015 stood at `49,658 crores and `45,352 crores, respectively, both showing a growth of 2% on YoY basis. The Operating EBITDA for FY2015 was marginally up at `8,872 crores, despite the headwinds of intensifying competition from surging imports and sticky domestic iron ore prices (which were divergent from a sharp correction in global seaborne markets due to constrained availability). The company posted a Net profit of ` 2,166 crores for the year, up by 62%.
The net gearing as on 31st March 2015 stood at 1.02x (as against 1.21x as on 31st December 2014) and Net debt to EBITDA was at 2.97x (as against 3.22x as on 31st December 2014).
Consolidated Financial Performance:
JSW Steel recorded Gross Turnover and Net Sales of `13,534 crores and `12,364 crores respectively for the quarter. The Company reported an EBITDA of `1,683 crores and a Net Profit after Tax of `62 crores, respectively, after incorporating the financials of subsidiaries, joint ventures and associates.
Gross Turnover and Net Sales for FY2015 stood at `56,572 crores and `52,051 crores, respectively, showing a growth of 4% and 3% respectively, on YoY basis. The company was able to partly offset the headwind of intensifying price competition from surging imports with product mix enrichment. Ramp up of new downstream facilities led to the share of value added products in overall volumes improving to 33% during the year (from 24% in FY2014). The Operating EBITDA for the year was `9,402 crores, up by 3% on YoY basis, despite higher iron ore costs as the company had to resort to imports of iron ore during the year. The company posted a Net profit of `1,797 crores for FY 2015 compared to `452 crores in FY2014.
The net gearing at consolidated level was 1.55x as on 31st March 2015 (versus 1.70x as on 31st December 2014), Net debt to EBITDA at consolidated level was 3.81x (versus 3.86x as on 31st December 2014) and the weighted average interest cost of debt was at 7.32% (vis-à-vis 7.62% as on 31st December 2014).
A more detailed breakdown of financial results is available at http://www.jsw.in/investors/steel.
JSW Steel Ltd., belonging to the JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. The group has diversified interests in mining, carbon steel, power, industrial gases, ports and cement. JSW Steel Limited is engaged in manufacture of flat and long products viz. hot rolled coils, cold rolled coils, galvanised products, galvalume products, colour coated products, auto grade / white goods grade flat products, bars and rods. Incorporated in 1994, it has grown to about US $11 billion. JSW Steel Limited is one of the largest producers and exporters of coated flat products in the country with presence in over 100 countries across five continents.
