Consolidated Performance
Q3FY25 Highlights:
- Gross Revenue*: INR 13,707 Cr
- Adjusted EBITDA**: INR 2,133 Cr
- Profit after tax: INR 951 Cr
- Steel production: 1.99 mt
- Steel sales: 1.90 mt
Q3FY25 Highlights:
- Gross Revenue*: INR 42,519 Cr
- Adjusted EBITDA**: INR 7,088 Cr
- Profit after tax: INR 3,149 Cr
- Steel production: 6.01 mt
- Steel sales: 5.85 mt
Incl. GST and Other Income
**Adjusted for one-off FX Gain of INR 51 Cr in Q3FY25 and INR 135 Cr in 9MFY25
- Consolidated Net Debt at INR 13,551 Cr
- Consolidated Net Debt/ EBITDA at 1.40x as on 31st Dec'24
Consolidated Performance:
The production and sales stood at 1.99 mt (+3% yoy) and 1.90 mt (+5% yoy) respectively. Consolidated gross revenues for the quarter came at INR 13,707 Cr (+0.1% yoy). Share of exports was 7% in Q3FY25. Adjusted EBITDA was INR 2,133 Cr (-24% yoy) adjusted for one-off FX gain of INR 51 Cr during the quarter. Reported PAT at INR 951 Cr down -51% yoy.
JSP's net debt stood at INR 13,551 Cr as on 31st Dec'24 vs. INR 12,464 Cr as on 30th Sep'24. Net debt to EBITDA increased to 1.40x as on 31st Dec'24 vs 1.21x as on 30th Sep'24. The planned expansion projects are progressing well as per the stipulated timelines, supported by strong company financials. The total capex for the quarter was INR 2,857 Cr largely driven by the expansion projects at Angul.
Industry Overview:
India steel production for the quarter stood at 38.4 mt up 6% qoq and apparent steel consumption grew by 4% sequentially. Exports grew 44% qoq to 1.8 mt while imports continued to trend down, declining 13% qoq to 2.8 mt. As a result, India continues to remain net importer.
| PRODUCT (Million Tonnes) | Q3FY25 | Q2FY25 | Q3FY24 | 9MFY25 | 9MFY24 |
|---|---|---|---|---|---|
| Steel | 1.99 | 1.97 | 1.94 | 6.01 | 5.88 |
| PRODUCT (Million Tonnes) | Q3FY25 | Q2FY25 | Q3FY24 | 9MFY25 | 9MFY24 |
|---|---|---|---|---|---|
| Steel | 1.90 | 1.85 | 1.81 | 5.85 | 5.66 |
| PARAMETER (INR Cr) | Q3FY25 | Q2FY25 | Q3FY24 | 9MFY25 | 9MFY24 |
|---|---|---|---|---|---|
| Gross Revenue* | 13,707 | 13,025 | 13,698 | 42,519 | 42,366 |
| Net Revenue | 11,777 | 11,248 | 11,736 | 36,678 | 36,662 |
| Adjusted EBITDA** | 2,133 | 2,124 | 2,802 | 7,088 | 7,719 |
| Depreciation + Amortization | 698 | 696 | 636 | 2,077 | 1,827 |
| Interest / Finance Cost (Net) | 313 | 326 | 315 | 971 | 974 |
| PBT (before exceptional) | 1,199 | 1,213 | 1,927 | 4,272 | 5,078 |
| Reported PAT/(Loss) | 951 | 860 | 1,928 | 3,149 | 5,010 |
* Incl. GST (goods and service tax) and Other income
** Adjusted for one-off FX Gain of INR 51 Cr in Q3FY25, Gain of INR 76 Cr in Q2FY25, Gain of INR 41 Cr in Q3FY24; Gain of INR 135 Cr in 9MFY25 and Gain of INR 38 Cr in 9MFY24
| PARAMETER (INR Cr) | Q3FY25 | Q2FY25 | Q3FY24 | 9MFY25 | 9MFY24 |
|---|---|---|---|---|---|
| Gross Revenue* | 13,395 | 13,433 | 13,485 | 41,758 | 41,658 |
| Net Revenue | 11,452 | 11,529 | 11,545 | 35,846 | 35,978 |
| Adjusted EBITDA** | 2,027 | 1,916 | 2,715 | 6,636 | 7,623 |
| Depreciation + Amortization | 571 | 573 | 559 | 1,708 | 1,654 |
| Interest / Finance Cost (Net) | 133 | 167 | 195 | 483 | 711 |
| PBT (before exceptional) | 1,473 | 1,224 | 1,994 | 4,672 | 5,389 |
| Reported PAT/(Loss) | 1,163 | 894 | 1,484 | 3,514 | 3,992 |
* Incl. GST (goods and service tax) and Other income
** Adjusted for one-off FX Gain of INR 134 Cr in Q3FY25, FX Gain of INR 24 Cr in Q2FY25 and FX Gain of INR 4 Cr in Q3FY24; Gain of INR 164 Cr in 9MFY25 and Gain of INR 61 Cr in 9MFY24
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