Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

Domestic steel pipe maker Jindal Saw reported a 66.7% YoY growth in its consolidated net profit for the quarter ended June 2024 on Monday, July 29. The profit for the quarter ended June 2024 was Rs 441.1 crore, up from Rs 265 crore in the same period of the previous fiscal year.

Key Takeaways from Jindal Saw’s Financial Performance

• Jindal Saw consolidated net profit surged 66.7% YoY to Rs 441.1 crore for the first quarter June 2024.
• The revenue from operations grew 12% to Rs 4,939 crore from Rs 4,410 crore in the corresponding period of the previous fiscal year.
• EBITDA margin for the reporting quarter was 17%, compared to 13.8% for the same period in the prior fiscal year.

The company's operational revenue grew sequentially by 12% to Rs 4,939 crore from Rs 4,410 crore in the same period in the previous fiscal year.

When comparing the first quarter of the current fiscal year to the same period last year, EBITDA climbed by 38.2% to Rs 839.6 crore in terms of operations.

EBITDA (earnings before interest, tax, depreciation, and amortisation) margin for the reporting quarter was 17%, compared to 13.8% for the same period in the prior fiscal year.

Due to the strong demand in the water industry, the business sold 55,000 MT of rust-free pipes from its south division during the first quarter of FY25. The water sector, which is included in the order book above, has 245,000 MT (173,000 MT as of March 31, 2024) as of June 30, 2024, according to the south division's order book. 

The company currently has more than Rs 165 crore in orders for iron and steel pipes and pellets, up from Rs 153 crore the previous quarter. Here's the breakdown: Pellets account for Rs 1.5 crore, whereas iron and steel pipes account for Rs 163.2 crore.

About Jindal Saw Limited

Jindal Saw Limited, founded in 1984, is an India-based manufacturer and supplier of iron and steel pipes and pellets with manufacturing sites in India, the United States, and the United Arab Emirates. The company's segments include Iron & Steel, Waterways Logistics, and Others. The Iron and Steel section manufactures iron and steel pipes and pellets. The Waterways Logistics division includes both inland and ocean-going shipping businesses. The others' category comprises contact centre and information technology services. 

The company produces submerged arc welded (SAW) pipes and spiral pipes for the energy transportation industry, carbon, alloy and seamless pipes and tubes for industrial uses, and ductile iron (DI) pipes and fittings for water and wastewater transportation. The company's products are used in oil and gas exploration, transportation, power production, water supply for drinking, drainage, irrigation, and other industrial applications.

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