Activity Report- Jindal Stainless Limited reports Q1 ...
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Coverage Report Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore September 2020
Transcript of Activity Report- Jindal Stainless Limited reports Q1 ...
Coverage Report
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
September 2020
Electronic
Date Channel Programme Duration
10‐09‐2020 CNBC TV18 Half Time – Report (Anurag Mantri interview) 10 min 42 secs
Date Publication Edition Headline
09‐09‐2020 Financial Express All Edition Jindal Stainless posts Rs.86.5 cr. net loss in Q1
09‐09‐2020 Business Standard (Hindi) Delhi Jindal Stainless posts Rs.86.5 cr. net loss in Q1
09‐09‐2020 Hindu Business Line All Edition Jindal Stainless reports Rs. 123.99 cr. loss in Q1
09‐09‐2020 Free Press Journal Mumbai Jindal Stainless posts Rs.86.5 cr net loss in April ‐ June qtr.
09‐09‐2020 Dainik Bhaskar Delhi Jindal Stainless posts Rs.86.5 cr. net loss in Q1
09‐09‐2020 Dainik Savera All Edition Jindal Stainless reports loss of 86.5 cr in the first quarter
09‐09‐2020 Naya India Delhi Jindal Stainless posts Rs.86.5 cr. net loss in Q1
09‐09‐2020 Dinamani Chennai Jindal's stainless revenue is Rs 1,272 crore
Online
Date Website Headline
08‐09‐2020 Business‐standard.com Jindal Stainless reports standalone net loss of Rs 86.50 crore in the June 2020 quarter
08‐09‐2020 Business‐standard.com Jindal Stainless reports consolidated net loss of Rs 121.78 crore in the June 2020 quarter
09‐09‐2020 Hindi.business‐standard.com Jindal Stainless posts Rs.86.5 cr. net loss in Q1
08‐09‐2020 Economictimes.indiatimes.com Jindal Stainless Q1 results: Firm reports net loss of Rs 87 crore
08‐09‐2020 Livemint.com Jindal Stainless posts ₹86.5 cr net loss in Q1
08‐09‐2020 Aninews.in Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Thehindubusinessline.com Jindal Stainless reports ₹123.99 crore consolidated loss in Q1
08‐09‐2020 Cnbctv18.com Jindal Stainless posts ₹86.5 cr net loss in Q1
08‐09‐2020 Navbharattimes.indiatimes.com
Jindal Stainless Reported A Net Loss Of Rs 865 Crore In The First Quarter
08‐09‐2020 Businessworld.in Jindal Stainless Reports Q1 Loss At Rs 87 Crore As Sales Contract 60 %
08‐09‐2020 Businessworld.in Jindal Stainless Posts Rs 86.5 Cr Net Loss In Q1
08‐09‐2020 Outlookindia.com Jindal Stainless posts ₹86.5 cr net loss in Q1
08‐09‐2020 Zee5.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Lokmat.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Punjabkesari.in Jindal Stainless posts ₹86.5 cr net loss in Q1
09‐09‐2020 Themachinist.in Jindal Stainless reports Q1 EBITDA at Rs 78 crore
08‐09‐2020 Metaljunction.com Jindal Stainless post Q1 loss at Rs 87 cr
09‐09‐2020 Agniban.com Jindal Stainless reports standalone net loss of Rs 86.50 crore in the June 2020 quarter
08‐09‐2020 Raftaar.in JSL reported a net loss of Rs 86.50 crore in the first quarter of FY 2020‐21
08‐09‐2020 Yahoo.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
09‐09‐2020 Yahoo.com Q1FY21 results: Jindal Stainless records net loss of Rs 123.99 crore
08‐09‐2020 Investing.com BRIEF‐India's Jindal Stainless Posts June‐Qtr Consol Loss
08‐09‐2020 Equitybulls.com Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
08‐09‐2020 Investingguide.in Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
08‐09‐2020 Devdiscourse.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Indiainfoline.com Jindal Stainless records net loss of Rs86cr in Q1; sales volume contracts by 60%
08‐09‐2020 Psuwatch.com Jindal Stainless reports a loss of Rs 87 crore in Q1 FY2020‐21
09‐09‐2020 Dsij.in Q1FY21 results: Jindal Stainless records net loss of Rs 123.99 crore
08‐09‐2020 Capitalmarket.com Jindal Stainless reports consolidated net loss of Rs 121.78 crore in the June 2020 quarter
08‐09‐2020 Ibc24.in Jindal Stainless reported a net loss of Rs 86.5 crore in the first quarter.
08‐09‐2020 Newkerala.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Chennaipatrika.com Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
08‐09‐2020 Mumbainewsnetworks.blogspot.com
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
08‐09‐2020 Webnewswire.com Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
08‐09‐2020 Thefactnews.in Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Meenatrade.co.in Jindal Stainless reported a net loss of Rs 86.5 crore in the first quarter.
08‐09‐2020 Hiindia.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Timesofrepublic.com Jindal Stainless Reports Q1 Loss At Rs 87 Crore As Sales Contract 60 Pc
08‐09‐2020 Indianeconomicobserver.com Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Royalbulletin.in JSL's net loss of Rs 86.50 crore in first quarter of FY 2020‐21
08‐09‐2020 Westminstertimes.news Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
08‐09‐2020 Thenewsmantra.com Jindal Stainless Q1 results: Firm reports net loss of Rs 87 crore
08‐09‐2020 Dinamani.com Jindal's stainless revenue was Rs 1,272 crore
ELECTRONIC
Date 10‐09‐2020
Publication CNBC TV18
Date 09‐09‐2020
Publication Financial Express
Page No. 04
Date 09‐09‐2020
Publication Business Standard (Hindi)
Page No. 02
Date 09‐09‐2020
Publication Hindu Business Line
Page No. 02
Date 09‐09‐2020
Publication Free Press Journal
Page No. 12
Date 09‐09‐2020
Publication Dainik Bhaskar
Page No. 09
Date 09‐09‐2020
Publication Dainik Savera
Page No. 13
Date 09‐09‐2020
Publication Naya India
Page No. 11
Date 09‐09‐2020
Publication Dinamani
Page No. 11
ONLINE
News‐Link‐https://www.business‐standard.com/article/news‐cm/jindal‐stainless‐reports‐standalone‐net‐loss‐of‐rs‐86‐50‐crore‐in‐the‐june‐2020‐quarter‐120090800949_1.html
Jindal Stainless reports standalone net loss of Rs 86.50 crore in the June 2020 quarter Sales decline 58.86% to Rs 1261.52 crore Net loss of Jindal Stainless reported to Rs 86.50 crore in the quarter ended June 2020 as against net profit of Rs 66.83 crore during the previous quarter ended June 2019. Sales declined 58.86% to Rs 1261.52 crore in the quarter ended June 2020 as against Rs 3066.72 crore during the previous quarter ended June 2019. ParticularsQuarter EndedJun. 2020Jun. 2019% Var.Sales1261.523066.72 ‐59 OPM %6.1510.23 ‐PBDT‐43.65181.57 PL PBT‐138.7980.82 PL NP‐86.5066.83 PL
Date 08‐09‐2020
Website Business‐standard.com
News‐Link‐ https://www.business‐standard.com/article/news‐cm/jindal‐stainless‐reports‐consolidated‐net‐loss‐of‐rs‐121‐78‐crore‐in‐the‐june‐2020‐quarter‐120090801092_1.html
Jindal Stainless reports consolidated net loss of Rs 121.78 crore in the June 2020 quarter Sales decline 57.83% to Rs 1376.06 crore Net loss of Jindal Stainless reported to Rs 121.78 crore in the quarter ended June 2020 as against net profit of Rs 46.65 crore during the previous quarter ended June 2019. Sales declined 57.83% to Rs 1376.06 crore in the quarter ended June 2020 as against Rs 3263.32 crore during the previous quarter ended June 2019. ParticularsQuarter EndedJun. 2020Jun. 2019% Var.Sales1376.063263.32 ‐58 OPM %3.329.19 ‐PBDT‐78.92164.25 PL PBT‐181.5959.44 PL NP‐121.7846.65 PL
Date 08‐09‐2020
Website Business‐standard.com
News‐Link‐ https://hindi.business‐standard.com/storypage_hin.php?autono=1968014
Date 09‐09‐2020
Website Hindi.business‐standard.com
News‐Link‐https://economictimes.indiatimes.com/markets/stocks/earnings/jindal‐stainless‐q1‐results‐firm‐reports‐net‐loss‐of‐rs‐87‐crore‐in‐q1‐fy21/articleshow/77996312.cms
Jindal Stainless Q1 results: Firm reports net loss of Rs 87 crore
Jindal Stainless Limited NSE ‐1.12 % (JSL) reported a loss of Rs 86.5 crore in the June quarter of FY21 compared to a profit of Rs 66.8 crore in the corresponding period last year primarily on account of COVID‐19 induced business environment, the company said. “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April," said the company's managing director, Abhyuday Jindal.
The company reported a net loss of Rs 22 crore during the March quarter of FY20. June quarter's net revenue and earnings before interest, tax, amortization and depreciation were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. The company's sales volume contracted by 60%, from 222,119 million tonne last year to 88,814 million tonne in the first quarter of FY21. "The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY," the company said in a statement on Tuesday.
Even though April 2020 was a complete wash‐out for domestic manufacturing, imports of stainless steel in the same month were even higher than the pre‐COVID levels of Jan 2020. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap, the company said. The share of exports in total sales in Q1FY21 was 33%, as against 20% during the same period last year.
"We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by the end of September’20 with improved business sentiments.” Jindal said. However, the company has said with the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy.
"An uptick in healthcare and two‐wheeler segments along with likely improvement in the retail segment during the festive season is expected to boost the demand for stainless steel in the coming months.," the company statement said. JSL is also cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry.
Date 08‐09‐2020
Website Economictimes.indiatimes.com
News‐Link‐https://www.livemint.com/companies/company‐results/jindal‐stainless‐posts‐rs‐86‐5‐cr‐net‐loss‐in‐q1‐11599562926033.html
Jindal Stainless posts ₹86.5 cr net loss in Q1
Jindal Stainless Ltd (JSL) on Tuesday posted a net loss of ₹86.50 crore during the quarter ended June 30, mainly on account of reduced income. The company had reported a net profit of ₹66.83 crore during the same quarter a year ago, JSL said in a BSE filing. During April‐June, the company's total income plunged to ₹1,271.75 crore from ₹3,076.43 crore in the year‐ago quarter. Total expenses during the period under review stood at ₹1,410.04 crore as against ₹2,995.61 crore a year ago. JSL recorded a loss primarily on account of COVID‐19 pandemic‐induced business environment, it said in a statement. With the gradual easing of nationwide lockdown in May‐June, JSL's operations have been inching towards normalcy, it said. "Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April," JSL Managing Director Abhyuday Jindal was quoted as saying in the statement. The company has undertaken several business, operational, and strategic initiatives to minimize the impact of the pandemic, and hopes to recover by the end of September with improved business sentiments, he added. This story has been published from a wire agency feed without modifications to the text.
Date 08‐09‐2020
Website Livemint.com
News‐Link‐https://www.aninews.in/news/business/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc20200908154533/
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Aninews.in
News‐Link‐https://www.thehindubusinessline.com/companies/jindal‐stainless‐reports‐12399‐crore‐consolidated‐loss‐in‐q1/article32553536.ece
Jindal Stainless reports ₹123.99 crore consolidated loss in Q1 Jindal Stainless Limited (JSL) has reported a ₹123.99 crore consolidated net loss for the first quarter of financial year 2020‐2021. This is a steep fall from the ₹47.62 crore consolidated profit reported by the company in the comparable quarter of the previous financial year.
Date 08‐09‐2020
Website Thehindubusinessline.com
News‐Link‐ https://www.cnbctv18.com/earnings/jindal‐stainless‐posts‐rs‐865‐cr‐net‐loss‐in‐q1‐6854071.htm
Jindal Stainless posts Rs 86.5 cr net loss in Q1 Jindal Stainless Ltd (JSL) on Tuesday posted a net loss of Rs 86.50 crore during the quarter ended June 30, mainly on account of reduced income. The company had reported a net profit of Rs 66.83 crore during the same quarter a year ago, JSL said in a BSE filing. During April‐June, the company’s total income plunged to Rs 1,271.75 crore from Rs 3,076.43 crore in the year‐ago quarter. Total expenses during the period under review stood at Rs 1,410.04 crore as against Rs 2,995.61 crore a year ago. JSL recorded a loss primarily on account of COVID‐19 pandemic‐induced business environment, it said in a statement. With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy, it said. ”Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April,” JSL Managing Director Abhyuday Jindal was quoted as saying in the statement. The company has undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hopes to recover by the end of September with improved business sentiments, he added.
Date 08‐09‐2020
Website Cnbctv18.co
News‐Link‐https://navbharattimes.indiatimes.com/business/business‐news/jindal‐stainless‐reported‐a‐net‐loss‐of‐rs‐865‐crore‐in‐the‐first‐quarter‐/articleshow/77998325.cms
Date 08‐09‐2020
Website Navbharattimes.indiatimes.com
News‐Link‐http://www.businessworld.in/article/Jindal‐Stainless‐Reports‐Q1‐Loss‐At‐Rs‐87‐Crore‐As‐Sales‐Contract‐60‐/08‐09‐2020‐318064/
Jindal Stainless Reports Q1 Loss At Rs 87 Crore As Sales Contract 60 % Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Businessworld.in
News‐Link‐ http://www.businessworld.in/article/Jindal‐Stainless‐Posts‐Rs‐86‐5‐Cr‐Net‐Loss‐In‐Q1/08‐09‐2020‐318120/
Jindal Stainless Posts Rs 86.5 Cr Net Loss In Q1 Jindal Stainless Ltd (JSL) on Tuesday posted a net loss of Rs 86.50 crore during the quarter ended June 30, mainly on account of reduced income.
The company had reported a net profit of Rs 66.83 crore during the same quarter a year ago, JSL said in a BSE filing.
During April‐June, the company's total income plunged to Rs 1,271.75 crore from Rs 3,076.43 crore in the year‐ago quarter.
Total expenses during the period under review stood at Rs 1,410.04 crore as against Rs 2,995.61 crore a year ago.
JSL recorded a loss primarily on account of COVID‐19 pandemic‐induced business environment, it said in a statement.
With the gradual easing of nationwide lockdown in May‐June, JSL's operations have been inching towards normalcy, it said.
'Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April,' JSL Managing Director Abhyuday Jindal was quoted as saying in the statement.
The company has undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hopes to recover by the end of September with improved business sentiments, he added.
Date 08‐09‐2020
Website Businessworld.in
News‐Link‐ https://www.outlookindia.com/newsscroll/jindal‐stainless‐posts‐rs‐865‐cr‐net‐loss‐in‐q1/1931692
Jindal Stainless posts Rs 86.5 cr net loss in Q1 Jindal Stainless Ltd (JSL) on Tuesday posted a net loss of Rs 86.50 crore during the quarter ended June 30, mainly on account of reduced income.
The company had reported a net profit of Rs 66.83 crore during the same quarter a year ago, JSL said in a BSE filing.
During April‐June, the company''s total income plunged to Rs 1,271.75 crore from Rs 3,076.43 crore in the year‐ago quarter.
Total expenses during the period under review stood at Rs 1,410.04 crore as against Rs 2,995.61 crore a year ago.
JSL recorded a loss primarily on account of COVID‐19 pandemic‐induced business environment, it said in a statement.
With the gradual easing of nationwide lockdown in May‐June, JSL''s operations have been inching towards normalcy, it said.
"Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April," JSL Managing Director Abhyuday Jindal was quoted as saying in the statement.
The company has undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hopes to recover by the end of September with improved business sentiments, he added.
Date 08‐09‐2020
Website Outlookindia.com
News‐Link‐ https://www.zee5.com/zeekannada/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc/
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Zee5.com
News‐Link‐ https://english.lokmat.com/business/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc/
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Jindal Stainless Jindal Stainless India enters Q1 net prot at Rs 1110.60 lakhs Credit quality weakens for A‐Pac metals and mining on economic slowdown 8K Miles Software reports Q1 revenue at Rs 88 crore Suzlon's Q1 net loss swells to Rs 399 crore on low volumes. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace. ( With inputs from ANI ) Disclaimer: This post has been auto‐published from an agency feed without any modications to the text and has not been reviewed by an editor
Date 08‐09‐2020
Website Lokmat.com
News‐Link‐ https://www.punjabkesari.in/business/news/jindal‐stainless‐reported‐a‐net‐loss‐of‐rs‐86‐5‐crore‐in‐the‐first‐quarter‐1239932
Date 08‐09‐2020
Website Punjabkesari.in
News‐Link‐https://www.themachinist.in/worldwidemedia/news/6734/jindal‐stainless‐reports‐q1‐ebitda‐rs‐crore
Jindal Stainless reports Q1 EBITDA at Rs 78 crore Jindal Stainless Limited (JSL) has announced financial results for its first quarter ended June 30, 2020. The Company recorded a loss of Rs 87 crore in Q1FY21 compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April’20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Jan’20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the Government to alleviate these distorted trade practices. Commenting on company and sector performance in the first quarter of FY21, Managing Director, JSL, Abhyuday Jindal, said, “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and a global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.” The share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY. With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace. In line with the government’s vision to go Atmanirbhar, JSL is cutting down on imports of input materials by significantly enhancing its procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs.
Date 09‐09‐2020
Website Themachinist.in
News‐Link‐ http://www.metaljunction.com/news/newsdetail/Jindal‐Stainless‐post‐Q1‐loss‐at‐Rs‐87‐cr_1
Jindal Stainless post Q1 loss at Rs 87 cr Jindal Stainless Ltd (JSL) posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment, according to a company release. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 percent from 222,119 tons in Q1 FY20 to 88,814 tons in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tons, lower by 63 percent over the corresponding period last year. Interest cost during the quarter fell by 8 percent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 percent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace. Source : Press release
Date 08‐09‐2020
Website Metaljunction.com
News‐Link‐https://news.agniban.com/fy‐2020‐21‐first‐quarter‐jsl‐rs‐86‐50‐crore‐net‐loss/
Date 09‐09‐2020
Website Agniban.com
News‐Link‐https://news.raftaar.in/business/%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4‐%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%B7‐2020‐21‐%E0%A4%95%E0%A5%80‐%E0%A4%AA%E0%A4%B9%E0%A4%B2%E0%A5%80‐%E0%A4%A4%E0%A4%BF%E0%A4%AE%E0%A4%BE%E0%A4%B9%E0%A5%80‐%E0%A4%AE%E0%A5%87%E0%A4%82‐%E0%A4%9C%E0%A5%87%E0%A4%8F%E0%A4%B8%E0%A4%8F%E0%A4%B2‐%E0%A4%95%E0%A5%8B‐86‐50‐%E0%A4%95%E0%A4%B0%E0%A5%8B%E0%A5%9C‐%E0%A4%B0%E0%A5%81%E0%A4%AA%E0%A4%AF%E0%A5%87‐%E0%A4%95%E0%A4%BE‐%E0%A4%B6%E0%A5%81%E0%A4%A6%E0%A5%8D%E0%A4%A7‐%E0%A4%98%E0%A4%BE%E0%A4%9F%E0%A4%BE
Date 08‐09‐2020
Website Raftaar.in
News‐Link‐ https://in.news.yahoo.com/jindal‐stainless‐reports‐q1‐loss‐101533205.html
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Yahoo.com
News‐Link‐ https://in.finance.yahoo.com/news/q1fy21‐results‐jindal‐stainless‐records‐061800396.html
Q1FY21 results: Jindal Stainless records net loss of Rs 123.99 crore Jindal Stainless Ltd announced its Q1FY21 results on Sep 8, 2020. The consolidated net loss in Q1FY21 came in at Rs 123.99 crore, which declined by 360.37 per cent, as compared to Q1FY20, when it reported a profit of Rs 47.62 crore.
The company reported consolidated net sales of Rs 1376.06 crore in Q1FY21, which declined by 57.83 per cent YoY from Rs 3263.32 crore in Q1FY20.
The company posted EBITDA of Rs 64.02 crore in Q1FY21 that decreased by 78.65 per cent YoY. For Q1FY20, it had posted EBITDA of Rs 299.85 crore.
EBITDA margin as of Q1FY21 was at 4.65 per cent that declined by 4.54 per cent YoY. EBITDA margin for Q1FY20 was 9.19 per cent. The net profit margin in Q1FY21 came in at ‐9.01 per cent, which declined by 10.47 per cent YoY. The net profit margin for Q1FY20 was 1.46 per cent.
On Wednesday, share price of the company at 11.54 am was trading at Rs 43.45, up 2.80 by per cent.
Particulars Q1FY21 (Rs in cr) Q1FY20 (Rs in cr) Per cent change
Net Profit ‐123.99 47.62 ‐360.37
Net Revenue 1,376.06 3,263.32 ‐57.83
Operating Profit 64.02 299.85 ‐78.65
EBITDAM% 4.65 9.19 ‐4.54
PATM% ‐9.01 1.46 ‐10.47
Date 09‐09‐2020
Website Yahoo.com
News‐Link‐ https://in.investing.com/news/briefindias‐jindal‐stainless‐posts‐juneqtr‐consol‐loss‐2413130
BRIEF‐India's Jindal Stainless Posts June‐Qtr Consol Loss * JUNE‐QUARTER CONSOL LOSS 1.22 BILLION RUPEES VERSUS PROFIT 466.5 MILLION RUPEES YEAR AGO * JUNE‐QUARTER REVENUE FROM OPERATIONS 13.76 BILLION RUPEES VERSUS 32.63 BILLION RUPEES YEAR AGO
Date 08‐09‐2020
Website Investing.com
News‐Link‐ http://www.equitybulls.com/admin/news2006/news_det.asp?id=273628
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore Jindal Stainless Limited (JSL) today announced financial results for its first quarter ended June 30, 2020. The Company recorded a loss of Rs 87 crore in Q1FY21 compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April'20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April'20 were even higher than the pre‐COVID levels of Jan'20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the Government to alleviate these distorted trade practices. Commenting on company and sector performance in the first quarter of FY21, Managing Director, JSL, Mr Abhyuday Jindal, said, "Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and a global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September'20 with improved business sentiments." The share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY. With the gradual easing of nationwide lockdown in May‐June, JSL's operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace. In line with the government's vision to go Atmanirbhar, JSL is cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs. Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.46.55 as compared to the previous close of Rs. 46.55. The total number of shares traded during the day was 41139 in over 329 trades. The stock hit an intraday high of Rs. 46.75 and intraday low of 45.2. The net turnover during the day was Rs. 1902418.
Date 08‐09‐2020
Website Equitybulls.com
News‐Link‐ https://www.investingguide.in/jindal‐stainless‐limited‐reports‐q1‐ebitda‐at‐rs‐78‐crore/
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore Jindal Stainless Limited (JSL) today announced financial results for its first quarter ended June 30, 2020. The Company recorded a loss of Rs 87 crore in Q1FY21 compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April’20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Jan’20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the Government to alleviate these distorted trade practices. Commenting on company and sector performance in the first quarter of FY21, Managing Director, JSL, Mr Abhyuday Jindal, said, “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and a global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.” The share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY. With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace. In line with the government’s vision to go Atmanirbhar, JSL is cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs. Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.46.55 as compared to the previous close of Rs. 46.55. The total number of shares traded during the day was 41139 in over 329
Date 08‐09‐2020
Website Investingguide.in
trades. The stock hit an intraday high of Rs. 46.75 and intraday low of 45.2. The net turnover during the day was Rs. 1902418.
News‐Link‐https://www.devdiscourse.com/article/business/1202922‐jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively.
Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore.
Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices.
Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added.
This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace. (ANI)
Date 08‐09‐2020
Website Devdiscourse.com
News‐Link ‐ https://www.indiainfoline.com/article/news‐sector‐metals‐mining‐minerals/jindal‐stainless‐records‐net‐loss‐of‐rs86cr‐in‐q1‐sales‐volume‐contracts‐by‐60‐120090800798_1.html
Jindal Stainless records net loss of Rs86cr in Q1; sales volume contracts by 60% Jindal Stainless has registered a net loss of Rs86.5cr for the quarter ending June 2020 (Q1FY21), compared to a profit of Rs66.8cr in the corresponding period of the previous year. Q1 loss widened against loss of Rs22cr of the preceding quarter. Further, the company's Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively, said Jindal Stainless.
Meanwhile, sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. On the financial performance, Abhyuday Jindal, Managing Director, JSL said, "Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. The MD added, "We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.”
Jindal Steel further in its audit report added, the widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April’20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Jan’20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap.
Also, the share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY.
Date 08‐09‐2020
Website Indiainfoline.com
News‐Link ‐ https://psuwatch.com/jindal‐stainless‐reports‐loss‐of‐rs‐87‐crore‐in‐q1‐FY2020‐21
Jindal Stainless reports a loss of Rs 87 crore in Q1 FY2020‐21 Jindal Stainless Limited (JSL) on Tuesday announced financial results for its first quarter of the current financial year (Q1 FY2020‐21) ended June 30. During the period the company recorded a loss of Rs 87 crore compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 percent, from 222,119 MT in CPLY to 88,814 MT in Q1 FY2020‐21.
The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 percent over CPLY. Interest cost during the quarter fell by 8 percent over CPLY to Rs 131 crore. Even though April 2020 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Januaury 2020. While the overall imports jumped by 44 percent during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the government to alleviate these distorted trade practices.
Commenting on company and sector performance in the first quarter of FY2020‐21, JSL’s Managing Director Abhyuday Jindal, said, “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.” The share of exports in total sales in Q1 FY2020‐21 was 33 percent, as against 20 percent in CPLY.
With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in the retail segment during the festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace.
In line with the government’s vision to go 'Aatmanirbhar', JSL is cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs.
Date 08‐09‐2020
Website Psuwatch.com
News‐Link‐https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/14794/Q1FY21‐results‐Jindal‐Stainless‐records‐net‐loss‐of‐Rs‐12399‐crore
Q1FY21 results: Jindal Stainless records net loss of Rs 123.99 crore Jindal Stainless Ltd announced its Q1FY21 results on Sep 8, 2020. The consolidated net loss in Q1FY21 came in at Rs 123.99 crore, which declined by 360.37 per cent, as compared to Q1FY20, when it reported a profit of Rs 47.62 crore.
The company reported consolidated net sales of Rs 1376.06 crore in Q1FY21, which declined by 57.83 per cent YoY from Rs 3263.32 crore in Q1FY20.
The company posted EBITDA of Rs 64.02 crore in Q1FY21 that decreased by 78.65 per cent YoY. For Q1FY20, it had posted EBITDA of Rs 299.85 crore.
EBITDA margin as of Q1FY21 was at 4.65 per cent that declined by 4.54 per cent YoY. EBITDA margin for Q1FY20 was 9.19 per cent. The net profit margin in Q1FY21 came in at ‐9.01 per cent, which declined by 10.47 per cent YoY. The net profit margin for Q1FY20 was 1.46 per cent.
On Wednesday, share price of the company at 11.54 am was trading at Rs 43.45, up 2.80 by per cent.
Particulars Q1FY21 (Rs in cr) Q1FY20 (Rs in cr) Per cent change
Net Profit ‐123.99 47.62 ‐360.37
Net Revenue 1,376.06 3,263.32 ‐57.83
Operating Profit 64.02 299.85 ‐78.65
EBITDAM% 4.65 9.19 ‐4.54
PATM% ‐9.01 1.46 ‐10.47
Date 09‐09‐2020
Website Dsij.in
News‐Link ‐ http://www.capitalmarket.com/News/Corporate‐Results/Jindal‐Stainless‐reports‐consolidated‐net‐loss‐of‐Rs‐121‐78‐crore‐in‐the‐June‐2020‐quarter/1194435
Jindal Stainless reports consolidated net loss of Rs 121.78 crore in the June 2020 quarter Sales decline 57.83% to Rs 1376.06 crore Net loss of Jindal Stainless reported to Rs 121.78 crore in the quarter ended June 2020 as against net profit of Rs 46.65 crore during the previous quarter ended June 2019. Sales declined 57.83% to Rs 1376.06 crore in the quarter ended June 2020 as against Rs 3263.32 crore during the previous quarter ended June 2019. Particulars Quarter Ended Jun. 2020 Jun. 2019 % Var. Sales 1376.06 3263.32 ‐58 OPM % 3.32 9.19 ‐ PBDT ‐78.92 164.25 PL PBT ‐181.59 59.44 PL NP ‐121.78 46.65 PL
Date 08‐09‐2020
Website Capitalmarket.com
News‐Link‐ https://www.ibc24.in/news/Jindal‐Stainless‐suffers‐net‐loss‐of‐Rs‐86.5‐crore‐in‐Q1‐88422
Date 08‐09‐2020
Website Ibc24.in
News‐Link‐ https://www.newkerala.com/news/2020/159348.htm
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Newkerala.com
News‐Link‐ http://chennaipatrika.com/post/Jindal‐Stainless‐Limited‐reports‐Q1‐EBITDA‐at‐Rs78crore
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore Jindal Stainless Limited (JSL) today announced financial results for its first quarter ended June 30, 2020. The Company recorded a loss of Rs 87 crore in Q1FY21 compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April’20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Jan’20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the Government to alleviate these distorted trade practices.
“Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and a global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.” The share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY.
With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace.
In line with the government’s vision to go Atmanirbhar, JSL is cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs.
Date 08‐09‐2020
Website Chennaipatrika.com
News‐Link‐ https://mumbainewsnetworks.blogspot.com/2020/09/jindal‐stainless‐limited‐reports‐q1.html
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore Jindal Stainless Limited (JSL) today announced financial results for its first quarter ended June 30, 2020. The Company recorded a loss of Rs 87 crore in Q1FY21 compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April’20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Jan’20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the Government to alleviate these distorted trade practices. Commenting on company and sector performance in the first quarter of FY21, Managing Director, JSL, Mr Abhyuday Jindal, said, “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and a global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.” The share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY. With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace. In line with the government’s vision to go Atmanirbhar, JSL is cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs.
Date 08‐09‐2020
Website Mumbainewsnetworks.blogspot.com
News‐Link‐ https://www.webnewswire.com/2020/09/08/jindal‐stainless‐limited‐reports‐q1‐ebitda‐at‐rs‐78‐crore/
Jindal Stainless Limited reports Q1 EBITDA at Rs 78 crore
Jindal Stainless Limited (JSL) today announced financial results for its first quarter ended June 30, 2020. The Company recorded a loss of Rs 87 crore in Q1FY21 compared to the corresponding period last year (CPLY), primarily on account of COVID‐19 induced business environment. Q1FY21 net revenue and EBITDA were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60%, from 222,119 MT in CPLY to 88,814 MT in Q1FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY. Interest cost during the quarter fell by 8% over CPLY to Rs 131 crore. Even though April’20 was a complete wash‐out for domestic manufacturing, imports of stainless steel in April’20 were even higher than the pre‐COVID levels of Jan’20. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap. The domestic industry awaited relief measures from the Government to alleviate these distorted trade practices.
Commenting on company and sector performance in the first quarter of FY21, Managing Director, JSL, Mr Abhyuday Jindal, said, “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April. Through agile business planning and a global outreach, we were able to revive our exports in the May‐June period, which helped offset the adverse impact of a depressed domestic market to some extent. We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by end of September’20 with improved business sentiments.” The share of exports in total sales in Q1FY21 was 33%, as against 20% in CPLY.
With the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months. This is over and above the conventional applications of stainless steel in construction, transportation, and process industries, which are slowly resuming pace.
In line with the government’s vision to go Atmanirbhar, JSL is cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry. A fully equipped and rail‐linked Inland Container Depot, Jindal Stainless Logistics Park, has further helped JSL in expediting supply chain movement and curtailing costs.
Date 08‐09‐2020
Website Webnewswire.com
News‐Link‐https://thefactnews.in/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc/
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Thefactnews.in
News‐Link‐ http://meenatrade.co.in/jindal‐stainless‐reported‐a‐net‐loss‐of‐rs‐86‐5‐crore‐in‐the‐first‐quarter/
Jindal Stainless reported a net loss of Rs 86.5 crore in the first quarter. Jindal Stainless Limited (JSL) said on Tuesday that it incurred a net loss of Rs 86.50 crore due to declining income in the first quarter of the current financial year. JSL said in a report sent to the Bombay Stock Exchange that the company had a net profit of Rs 66.83 crore in the same quarter a year ago.
During the April‐June quarter of the current financial year, the company's total income declined to Rs 1,271.75 crore from Rs 3,076.43 crore in the same period a year ago. 1,410.04 crores of the company's total expenditure during this period New Delhi, Sep 8 (Jindal) Jindal Stainless Limited (JSL) said on Tuesday that it incurred a net loss of Rs 86.50 crore due to declining income in the first quarter of the current financial year.
JSL said in a report sent to the Bombay Stock Exchange that the company had a net profit of Rs 66.83 crore in the same quarter a year ago. During the April‐June quarter of the current financial year, the company's total income declined to Rs 1,271.75 crore from Rs 3,076.43 crore in the same period a year ago.
The total expenses of the company during this period stood at Rs 1,410.04 crore. At the same time last year, the company's total expenditure in the first quarter was Rs 2,995.61 crore. The company said in a statement that it has suffered losses in the first quarter mainly due to the business environment generated by the Kovid‐19 epidemic. The company said that with the relaxation of lockdown, its operations are gradually returning to normal from May to June.
Date 08‐09‐2020
Website Meenatrade.co.in
News‐Link‐https://www.hiindia.com/blog/2020/09/08/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc/
Jindal Stainless Reports Q1 Loss At Rs 87 Crore As Sales Contract 60 Pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21.
The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January.
While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments.
An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace. (ANI)
Date 08‐09‐2020
Website Hiindia.com
News‐Link‐https://www.timesofrepublic.com/2020/09/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc/
Jindal Stainless Reports Q1 Loss At Rs 87 Crore As Sales Contract 60 Pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.(ANI)
Date 08‐09‐2020
Website Timesofrepublic.com
News‐Link‐https://www.indianeconomicobserver.com/news/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc20200908154532/
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc
Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment.
The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively.
Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore.
Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January.
While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added.
This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Indianeconomicobserver.com
News‐Link‐http://www.royalbulletin.in/business/‐2020‐21‐8650‐‐231100
Date 08‐09‐2020
Website Royalbulletin.in
News‐Link‐https://www.westminstertimes.news/news/jindal‐stainless‐reports‐q1‐loss‐at‐rs‐87‐crore‐as‐sales‐contract‐60‐pc20200908154532/
Jindal Stainless reports Q1 loss at Rs 87 crore as sales contract 60 pc Jindal Stainless Ltd (JSL) on Tuesday posted a loss of Rs 87 crore in Q1 FY21 due to lower sales in the Covid‐19 induced business environment. The net revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were severely hit to stand at Rs 1,262 crore and Rs 78 crore respectively. Sales volume contracted by 60 per cent from 2.22 lakh tonnes in Q1 FY20 to 88,814 tonnes in Q1 FY21. The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63 per cent over the corresponding period last year. Interest cost during the quarter fell by 8 per cent to Rs 131 crore. Even though April was a complete wash‐out for domestic manufacturing, said JSL, imports of stainless steel were even higher than the pre‐Covid levels of January. While the overall imports jumped by 44 per cent during this period, those from Indonesia witnessed an eight‐fold leap. JSL said the domestic industry awaits relief measures from the government to alleviate these distorted trade practices. Managing Director Abhyuday Jindal said the company has undertaken several business, operational and strategic initiatives to minimise the impact of the pandemic, and hope to recover by September‐end with improved business sentiments. An uptick in healthcare and two‐wheeler segments along with likely improvement in retail segment during festive season is expected to boost the demand for stainless steel in the coming months, he added. This is over and above the conventional applications of stainless steel in construction, transportation and process industries which are slowly resuming pace.
Date 08‐09‐2020
Website Westminstertimes.news
News‐Link‐ https://www.thenewsmantra.com/jindal‐stainless‐q1‐results‐firm‐reports‐net‐loss‐of‐rs‐87‐crore/
Jindal Stainless Q1 results: Firm reports net loss of Rs 87 crore Jindal Stainless Limited (JSL) reported a loss of Rs 86.5 crore in the June quarter of FY21 compared to a profit of Rs 66.8 crore in the corresponding period last year primarily on account of COVID‐19 induced business environment, the company said. “Domestic stainless steel industry was no exception to the slowdown caused by COVID‐19. For JSL too, it was an unprecedented quarter, with operations completely suspended in April,” said the company’s managing director, Abhyuday Jindal.
The company reported a net loss of Rs 22 crore during the March quarter of FY20.
June quarter’s net revenue and earnings before interest, tax, amortization and depreciation were severely hit, standing at Rs 1,262 crore and Rs 78 crore respectively. The company’s sales volume contracted by 60%, from 222,119 million tonne last year to 88,814 million tonne in the first quarter of FY21.
“The widespread disruption in supply chains and temporary suspension of manufacturing activity pulled down melt production to 90,329 tonnes, lower by 63% over CPLY,” the company said in a statement on Tuesday.
Even though April 2020 was a complete wash‐out for domestic manufacturing, imports of stainless steel in the same month were even higher than the pre‐COVID levels of Jan 2020. While the overall imports jumped by 44% during this period, those from Indonesia witnessed an eightfold leap, the company said.
The share of exports in total sales in Q1FY21 was 33%, as against 20% during the same period last year.
“We have undertaken several business, operational, and strategic initiatives to minimise the impact of the pandemic, and hope to recover by the end of September’20 with improved business sentiments.” Jindal said.
However, the company has said with the gradual easing of nationwide lockdown in May‐June, JSL’s operations have been inching towards normalcy.
“An uptick in healthcare and two‐wheeler segments along with likely improvement in the retail segment during the festive season is expected to boost the demand for stainless steel in the coming months.,” the company statement said.
JSL is also cutting down on imports of input materials by significantly enhancing their procurement from local sources. This is expected to mitigate price and inventory fluctuations, release working capital, and strengthen the domestic raw materials industry.
Date 08‐09‐2020
Website Thenewsmantra.com
News‐Link‐https://www.dinamani.com/business/2020/sep/09/jindal‐has‐a‐stainless‐income‐of‐rs‐1272‐crore‐3461625.html
Date 08‐09‐2020
Website Dinamani.com
