Jindal Stainless Q2 Results Reports ₹9,776.83 Crores Revenue

Jindal Stainless Q2 Results: Jindal Stainless reported its Q2 results for the period ending in September 2024. The company’s total revenue was ₹9,776.83 crores, which is almost the same as the year-over-year (YoY) figure from September 2023, which stood at ₹9,797.04 crores. However, compared to the last quarter (June 2023), the revenue decreased from ₹10,183.96 crores, showing a decline quarter-on-quarter (QoQ).

Jindal Stainless’ selling, general, and administrative expenses rose YoY, going from ₹141.90 crores in September 2023 to ₹205.72 crores in September 2024. The depreciation and amortization expense also increased compared to both the previous year and last quarter, reaching ₹240.90 crores in September 2024, compared to ₹221.94 crores YoY and ₹188.01 crores QoQ.

Jindal Stainless’ operating income for Q2 was ₹945.81 crores, lower than last year's figure of ₹1,109.44 crores YoY, and also down from ₹1,004.36 crores QoQ. The net income before taxes followed a similar trend, decreasing from ₹993.14 crores YoY to ₹834.27 crores this year.

Jindal Stainless’ net income dropped YoY from ₹774.33 crores to ₹611.31 crores, and also QoQ from ₹745.81 crores. The diluted normalized earnings per share (EPS) fell YoY from ₹8.46 to ₹7.41 this year.

Here is a summarized version of the Jindal Stainless Q2 Results (all figures in crores except per share values):

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results

Jindal Stainless Q2 Results

Jindal Stainless earned ₹9,745.65 crores from its operations in the quarter ending September 30, 2024, and had an additional ₹82.43 crores in other income, leading to a total income of ₹9,828.08 crores. The company's total expenses for the same period were ₹9,035.26 crores, which includes costs for materials, employee salaries, and other operating expenses. After covering these costs, Jindal Stainless made a profit of ₹792.82 crores before tax.

For the half-year, which includes both quarters ending September 30, 2024, the company reported a total income of ₹19,473.16 crores and total expenses of ₹17,892.08 crores, resulting in a profit of ₹1,581.08 crores before tax. After accounting for taxes, the profit for the half-year was ₹1,167.61 crores. The company's earnings per share (EPS) were ₹7.40 for both basic and diluted shares. 

Here is a summarized version of the standalone financial results for the quarter and half-year ended 30 September 2024:

Jindal Stainless Stock Metrics

Jindal Stainless has a market cap of ₹60,098 crore, which is the total value of all its shares. The current stock price is ₹730, with the highest price in the past year being ₹848 and the lowest ₹427. The P/E ratio is 24.5, meaning investors are willing to pay 24.5 times the company's earnings per share. The book value is ₹188, showing the value of the company's assets. The dividend yield is 0.41%, which is the return shareholders get through dividends. 

Here’s a breakdown of the key financial details you provided:

Quarterly Results 

In the financial data for Jindal Stainless from March 2024 to September 2024, the company shows a strong performance. In March 2024, they earned Rs. 9,454 crores in sales, but this slightly decreased to Rs. 9,430 crores in June 2024, before rising to Rs. 9,777 crores in September 2024. Their expenses also varied, with a significant drop from Rs. 8,419 crores in March to Rs. 8,219 crores in June, but increasing again to Rs. 8,590 crores by September. 

Here is the data for Mar 2024, Jun 2024, and Sep 2024:

About Jindal Stainless

Jindal Stainless is one of India's top stainless steel manufacturers, founded in 1970. The company has a strong commitment to innovation and social responsibility. It had an annual turnover of ₹38,562 crore (about $4.7 billion) in FY24 and plans to increase its production capacity to 4.2 million tonnes by 2026. Jindal Stainless operates 16 manufacturing facilities, including locations in India, Spain, and Indonesia.

Jindal Stainless produces various stainless steel products like slabs, coils, and sheets. The company focuses on sustainability, aiming to reduce carbon emissions and achieve Net Zero by 2050, while using eco-friendly methods to create high-quality steel.