Q3 2025 Jindal Steel And Power Ltd Earnings Call Transcript
Key Points
- Jindal Steel & Power Ltd (BOM:532286) reported a strong performance despite challenging market conditions, with a 5% increase in revenue on a quarter-over-quarter basis.
- The company achieved a 6% sequential increase in value-added sales, reflecting a strategic focus on enhancing product offerings.
- Production for the quarter grew by 3% year-on-year to 1.99 million tonnes, and sales increased by 5% year-on-year to 1.90 million tonnes, driven by a surge in exports.
- The company is embarking on a new round of capital expenditure focused on cost efficiency, sustainability, and increasing the share of value-added products.
- Jindal Steel & Power Ltd (BOM:532286) maintained a net debt-to-EBITDA ratio of 1.4x, indicating strong financial management and a commitment to maintaining leverage below 1.5x across cycles.
- Global steel prices remained subdued, with significant pressure on domestic prices due to imports, impacting the company's profitability.
- The adjusted EBITDA per tonne decreased by 2% on a sequential basis due to higher iron ore costs.
- The company's net debt increased to INR13,551 crore, reflecting ongoing capital expenditures and project-related payouts.
- There was a drop in realization quarter-over-quarter in the third quarter, attributed to a dip in flat product prices.
- Concerns were raised about the significant increase in capital expenditure without a corresponding increase in upstream capacity, leading to questions about the return on investment.
Ladies and gentlemen, good day and welcome to Jindal Steel and Power Limited Q3 and FY '25 earnings conference call hosted by ICICI Securities Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Amit Dixit from ICICI Securities. Thank you and over to you, Mr. Amit.
Yeah. Thank you, Manav. Good evening, everyone. At the outset, I would like to thank the management for giving us an opportunity to host the call and congratulate them for a good set of numbers in a very challenging quarter.
Without much ado, I would hand the call over to Vishal to introduce the management and begin the proceedings. Over to you, Vishal.
Thank you very much, Amit. Good evening,
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