Jindal Stainless Ltd FY18 revenue surges by 30% to Rs 10,785 cr
New Delhi: Jindal Stainless Limited (JSL) consolidated its financial position by successively posting a profit for the sixth straight quarter. JSL recorded a robust revenue growth of 30 per cent in FY18. Increase in stainless steel demand and improved operational performance led to growth in total revenue in FY18 at Rs 10,785 cr as against Rs 8,311 cr in CPLY (corresponding period last year).
The total consolidated FY 18 sales volume touched 778,933 MT, recording a growth of 21 per cent as against 641,333 MT in CPLY. JSL reported a strong growth in PAT at Rs 318 cr in FY18 as against Rs 58 cr in CPLY, registering almost six times increase. EBIDTA was up by 16 per cent at Rs 1,281 cr in FY18. The net worth of the company as on March 31, 2018 stood at Rs 2,352 cr. Improved operational efficiency in FY18 led to an increase in total stainless steel melt production which stood at 797,156 MT and was up by 10 per cent as compared to CPLY.
Commenting on the outstanding performance of the company, Managing Director, JSL, Abhyuday Jindal, said, "The Company has delivered a strong result in FY18 for the second consecutive year. Our robust performance in FY 17-18 reinforces that JSL has set itself on a strong and sustainable growth journey.
"We will continue to enhance our offerings in the market with increased production of auto grade stainless steel and also meet the growing demand for railway coaches. Architecture, Building & Construction (ABC) and Automotive, Railway & Transport (ART) segment will also supplement stainless steel consumption. Despite protectionist measures in some parts of the world, we will continue to maintain our stability in exports. With our industry leadership, our focus will expand to new application development and further improve our market outreach in FY19."