Jindal Steel & Power Limited
NSE Symbol JINDALSTEL
Jindal Steel & Power Limited has declared its Consolidated results for the financial year - FY 2011.
Net Sales from Operations is Rs.13092.46 Cr – up by 18.13% from FY 2010 and up by 20.73% from FY 2009.
Total Expenditure has increased to Rs.7870 Cr – up by 26.11% from FY 2010 and up by 18.42% from FY 2009.
Profit from Operations is Rs.5241.60 Cr – up by 8.06% from FY 10 and up by 24.64% from FY 09.
Profit before tax is Rs.4988.02 Cr – up by 9.54% from FY 10 and by 30.88% from FY 09.
Net Profit for FY 11 is Rs.3804.01 Cr – up by 4.66% from FY 10; and up by 26.50% from FY 09.
Consolidated Net Profit for FY 11 is Rs.3753.88 Cr – up by 3.28% from FY 10 and up by 24.83% from FY 09.
Basic EPS is Rs.40.75 for FY 11; Rs.39.05 for FY 10; Rs.194.63 for FY 09.
Current Market price is Rs.639. At the annual EPS of Rs.40.75, the PE Ratio is 15.68.
Paid-up Equity has however gone up to Rs.93.43 Cr from FY 10, whereas the same was Rs.15.47 Cr in FY 09.
ANNUAL CONSOLIDATED RESULTS TABLE :
| FY11CS | |||
| Net Sales | 1,309,246.00 | 1,108,351.00 | 1,084,428.00 |
| Other Operating Income | 1,914.00 | 803 | 673 |
| Increase in SIT/WIP | -57,027.00 | -4,692.00 | -9,775.00 |
| Raw Materials | 511,435.00 | 378,723.00 | 416,759.00 |
| Traded goods | 14 | 55 | - |
| Employees Cost | 41,492.00 | 27,499.00 | 20,497.00 |
| Depreciation | 115,100.00 | 99,696.00 | 96,406.00 |
| Other Expenditure | 175,986.00 | 122,798.00 | 140,675.00 |
| Total Expenditure | 787,000.00 | 624,079.00 | 664,562.00 |
| Profit from Operations | 524,160.00 | 485,075.00 | 420,539.00 |
| Other Income | 8,200.00 | 6,028.00 | 6,236.00 |
| Interest | 33,558.00 | 35,758.00 | 45,665.00 |
| Profit before tax | 498,802.00 | 455,345.00 | 381,110.00 |
| Tax Expense | 118,401.00 | 91,889.00 | 80,395.00 |
| Net Profit | 380,401.00 | 363,456.00 | 300,715.00 |
| Minority Interest | 6,591.00 | - | - |
| Shares of Associates | -1,578.00 | - | - |
| Consolidated Net Profit | 375,388.00 | 363,456.00 | 300,715.00 |
| Face Value (in Rs.) | 1 | 1 | 1 |
| Paid-up Equity | 9,343.00 | 9,312.00 | 1,546.52 |
| Reserves | 1,405,579.00 | 984,120.00 | 700,720.00 |
| Basic EPS | 40.75 | 39.05 | 194.63 |
| Diluted EPS | 40.71 | 38.76 | 194.63 |
| Public holding (%) | 41.59 | 41.41 | 41.25 |
QTRLY (CONSOL) RESULTS
Net Sales from Operations FOR Q4 FY 11 – is Rs.3848.12 Cr – up by 21.46% from Q3 FY 11; and up by 21.18% from Q4 FY 10.
Total Expenditure for Q4 FY 11 is Rs.2461.55 Cr – up by 31.78% from Q3 FY 11; and up by 24.86% from Q4 FY 10.
Profit from Operations for Q4 FY 11 is Rs.1392.99 Cr – up by 6.65% from Q3 FY 11; and up by 15.69% from Q4 FY 10.
Profit before tax for Q4 FY 11 is Rs.1363.60 Cr – up by 10.54% from Q3 FY 11 and up by 15.36% from Q4 FY 10.
Consolidated Net Profit for Q4 FY 11 is Rs.1001.70 Cr – up by 5.32% from Q3 FY 11; and up by 3.98% from Q4 FY 11.
Qtrly (Consol) Results Table :
| Q4FY11CS | |||
| Net Sales from Operations | 384,812.00 | 316,815.00 | 317,559.00 |
| Other Operating Income | 642 | 584 | - |
| Increase in SIT / WIP | -26,543.00 | -8,916.00 | 15,938.00 |
| Raw Materials | 170,491.00 | 117,466.00 | 104,480.00 |
| Traded goods | 14 | - | 55 |
| Employees Cost | 11,950.00 | 11,210.00 | 7,928.00 |
| Depreciation | 33,445.00 | 29,259.00 | 25,457.00 |
| Other Expenditure | 56,798.00 | 37,770.00 | 43,292.00 |
| Total Expenditure | 246,155.00 | 186,789.00 | 197,150.00 |
| Profit from Operations | 139,299.00 | 130,610.00 | 120,409.00 |
| Other Income | 6,061.00 | 871 | 3,030.00 |
| Interest | 9,000.00 | 8,126.00 | 5,230.00 |
| Profit before tax | 136,360.00 | 123,355.00 | 118,209.00 |
| Tax Expense | 36,190.00 | 28,245.00 | 21,871.00 |
| Net Profit | 100,170.00 | 95,110.00 | 96,338.00 |
| Consolidated Net Profit | 100,170.00 | 95,110.00 | 96,338.00 |
| Face Value (in Rs.) | 1 | 1 | 1 |
| Paid-up Equity | - | 9,339.00 | 9,312.00 |
| Basic EPS | 10.73 | 10.02 | 10.35 |
| Diluted EPS | 10.72 | 10.01 | 10.27 |
| Public holding (%) | 41.59 | 41.58 | 41.41 |
WHAT COMPANY SAYS
JSPL’s net jumps 39% for FY10-11; Revenue up 30%
Owing to robust demand in steel and power, JSPL achieved an increase in standalone net profit of 39% for FY10-11 from Rs. 1,479.68 Cr to Rs. 2,064.12 Cr;
Consolidated profit jumps to Rs. 3,804.01 Cr.
The Company has declared a dividend of 150% (Previous year 125%) for the financial year ended 31.03.2011
1. Financial Results
Qtrly Standalone
Ø Net Profit after tax up by 18% to Rs. 648.33 Cr (Rs. 548.99 Cr.)*
Ø Turnover up by 15% to Rs. 2,742.19 Cr (Rs. 2,388.83 Cr.)*
Qtrly Consolidated
Ø Net Profit after tax up by 4% to Rs. 1001.70 Cr (Rs. 963.38 Cr.)*
Ø Turnover up by 21% to Rs. 3,854.54 Cr (Rs. 3,175.59 Cr.)*
Annual Standalone
Ø Net Profit after Tax up by 39% to Rs. 2,064.12 Cr (Rs. 1,479.68
Cr)*
Ø Turnover is up by 30% to Rs. 9,573.63 Cr (Rs. 7,367.59 Cr)*
Annual Consolidated
Ø Net Profit After Tax up by 5% to Rs. 3,804.01 Cr (Rs. 3,634.56
Cr)*
Ø Turnover up by 18% to Rs. 13,111.60 Cr (Rs. 11,091.54 Cr)*
*figures in brackets are for the financial year 2009-10
In terms of consolidated results, the company achieved an increase in net profit of 4% to Rs. 1001.70 Cr for the quarter ended March 31, 2011 from Rs 963.38 Cr for the quarter ended March 31, 2010, while the turnover jumped up by 21% to Rs 3,854.54 Cr for the quarter ended March 31, 2011 from Rs 3,175.59 Cr for the quarter ended March 31, 2010.
The consolidated results for the year ended March 31, 2011 were: the net profit went up by 5% to Rs. 3,804.01 Cr for the year ended March 31, 2011 from Rs. 3,634.56 Cr during the year ended March 31, 2010. The turnover for the year ended March 31, 2011 stood at Rs. 13,111.60 Cr, resulting in an increase of 18%, as against Rs. 11,091.54 Cr for the year ended March 31, 2010.
As far as standalone results are concerned, the net profit increased by 18% to Rs. 648.33 Cr for the quarter ended March 31, 2011 from Rs. 548.99 Cr during the quarter ended March 31, 2010. The turnover for the quarter ended March 31, 2011 stood at Rs. 2,742.19 Cr, resulting in an increase of 15%, as against Rs. 2,388.84 Cr in the quarter ended March 31, 2010.
The standalone results for the year ended March 31, 2011 were equally impressive.
The net profit went up by 39% to Rs. 2,064.12 Cr for the year ended March 31, 2011 from Rs. 1,479.69 Cr during the year ended March 31, 2010. The turnover for the year ended March 31, 2011 stood at Rs. 9,573.63 Cr, resulting in an increase of 30%, as against Rs. 7,367.59 Cr for the year ended March 31, 2010.
ANNOUNCEMENTS TO NSE
05-05-2011 Jindal Steel Bolivia (JSB), a subsidiary of the Company, has informed that they will build a 2.52 MMTPA natural-gas based MIDREX Direct Reduction Plant at EL-Mutun, Puerto Suarez, Bolivia, South America. The new MIDREX Plant will be the largest single module till date of any commercial direct reduction technology in the world. The contract for this new MIDREX Plant was signed on March 30, 2011.
21-04-2011 Jindal Steel & Power has recommended dividend of 150% i.e. Rs.1.50 per equity share of Rs.1/-each.
21-04-2011 Consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 1309246 lacs for year ending on 31-MAR-2011 against Rs. 1108351 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 380401 lacs for the year ending on 31-MAR-2011 against Rs. 363456 lacs for the year ending on 31-MAR-2010.
21-04-2011 Standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 953489 lacs for year ending on 31-MAR-2011 against Rs. 735956 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 206412 lacs for the year ending on 31-MAR-2011 against Rs. 147969 lacs for the year ending on 31-MAR-2010.
20-04-2011 "JSPL launches on-market cash offer to acquire Rocklands Richfield".
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