JSW Steel Q1 Review – Strong Margin Outlook: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

JSW Steel Ltd. reported better than estimated earnings for Q1 FY22 with a beat of 7%/14% on our and consensus estimates.

Higher steel margins and better performance in domestic and overseas subsidiaries drove JSW Steel’s beat.

We increase our Ebitda estimates for FY22E/FY23E by 4.7%/17.5% to factor in higher steel margins and better profitability in subsidiaries.

We expect that steel prices would structurally remain elevated in medium term as a result of inevitable policy measure undertaken by China to restrict production in order to curb alarming pollution levels.

Regular monitoring of output, stringent penalties for violation and continuous news flow on imposition of export tax to enhance availability in domestic markets would support steel prices in short term.

Click on the attachment to read the full report:

Prabhudas Lilladher JSW Steel Q1FY22 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
editorpen Governmental News Finance News

Source link

Back to top button