Wednesday, 17 January 2024

Jindal Saw Ltd (JINDALSAW)

Target Price:- ₹ 850
Stop loss:- ₹ 470
CMP:- ₹ 530 Industry:- Iron & Steel
Market Cap:- ₹ 16,960 cr. High Low:- ₹ 538 / 108
Book Value :- ₹ 282 Debt:- ₹ 6,174 cr.
Promoters Holding :- 63.3% Pledged % :- 0.00%

Quarterly Results (cr.)

Category Dec. 2023 Sep. 2023 Jun. 2023 Mar. 2023 Dec. 2022

Revenue 5,656 5,466 4,410 5,188 5,158

PAT 512 356 243 294 143

EPS (in ₹) 16.62 11.75 8.23 11.06 6.71

Annual Results (cr.)

Category Mar. 2023 Mar. 2022 Mar. 2021 Mar. 2020 Mar. 2019

Revenue 17,868 13,298 10,664 11,627 12,117

PAT 443 376 328 461 764

EPS 19.77 12.88 9.97 17.35 26.58

Balance Sheet (cr.)

Category Mar. 2023 Mar. 2022 Mar. 2021 Mar. 2020 Mar. 2019

Reserves 7,859 7,300 6,919 6,700 6,218

Borrowings 4,922 6,031 5,335 5,649 5,692

Other Liabilities 5,016 3,048 3,497 2,669 2,807

Total Liabilities 17,861 16,443 15,815 15,082 14,781

Fixed Assets 7,372 7,357 7,316 7,491 7,163

CWIP 300 293 404 423 260

Other Assets 9,939 8,570 7,898 7,039 7,169

Total Assets 17,861 16,443 15,815 15,082 14,781

Share Holding Patterns (%)

Category Dec. 2023 Sep. 2023 Jun. 2023 Mar. 2023 Dec. 2022

Promoters 63.26 63.26 63.26 63.25 63.03

FIIs 15.22 17.71 15.92 14.94 11.03

DIIs 2.27 1.67 1.18 1.20 0.91

Public 18.66 16.79 19.05 19.98 24.38

Visit: www.bullishindia.com
 Wednesday, 17 January 2024

Jindal Saw Ltd (JINDALSAW)

Target Price:- ₹ 850
Stop loss:- ₹ 470

• About the Company:

The flagship company of the PR Jindal group, Jindal Saw Limited, is a well-known producer and supplier
of iron and steel pipes and pellets on a global scale.

Key Points:-

• Product Portfolio:
The company's main offerings are seamless pipes, ductile iron (DI) pipes, helical SAW (HSAW) pipes,
longitudinal submerged arc welded (LSAW) pipes, and pellets. These items find use in the extraction of
oil and gas, transportation, production of electricity, supply of drinking water, drainage, irrigation, and
several other industrial uses.

• Revenue Split:
SAW Pipes: 28%, DI Pipes: 25%, CS/AS Seamless Pipes: 19%, Stainless Pipes: 5%, Pellets: 19%
• Geographical Split:
Domestic Sales: 82%
Exports: 18%

• Manufacturing Facilities:
With a combined capacity of 22,40,000 metric tonnes annually, the company has five production facilities
in India: Kosi Kalan (UP), Mundra (Gujarat), Nashik (Maharashtra), Bellary (Karnataka), and Bhilwara
(Rajasthan). In addition, it has a beneficiation facility and pellet plant with an installed capacity of
15,00,000 MTPA at an iron ore mine in Bhilwara, Rajasthan.

• Order Book:
As of December 30, 2023, the company has a solid $1.49 billion (around 12,467 Cr.) order book $1.32
billion a year ago. This comprised orders for seamless pipes, large DI (ductile iron) pipes, and DI pipes.
The current order book includes export orders of around 35% of the total order book compared to 18% in
FY22. Its unit in the United Arab Emirates reported a $135 million order book.

• Clientele:
The government and the private sector are among the company's clientele, and it has a significant
domestic and global presence across all brands. ONGC, Oil India, GE, Thermax, Godrej, SKF, Petrofac,
L&T, Proclad for ADNOC, and other companies are a few of the clients. Among the foreign clients of
Jindal SAW are Shell, Saudi Aramco, and Schaeffler Group.

• Amalgamation:
In FY22, Jindal Saw Limited's subsidiaries Jindal Quality Tubular Limited, Jindal Tubular (India) Limited,
and Jindal Fittings Limited amalgamated.

• Joint Venture:
The Company signed a Joint Venture Agreement with Hunting Energy Services Pte Ltd., Singapore,
whereby the Co will hold a 51% shareholding in the Joint Venture Company that is incorporated in India.
The purpose of the JV Agreement is to establish a state-of-the-art precision machine shop that will thread
premium connections for Oil Country Tubular Goods (OCTG) and accessories in India, catering to
markets worldwide.

Visit: www.bullishindia.com