Jindal Saw zooms on reporting a many-fold jump in Q3 consolidated net profit
Shares of Jindal Saw Limited have surged more than 35% in the last 6 months.
On January 27, 2023, Jindal Saw Limited reported results for the third quarter that ended on December 31, 2022 (Q3FY23). On a consolidated basis, the company has reported many fold jump in its net profit at Rs 143.23 crore for the quarter as compared to Rs 0.68 crore for the same quarter in the previous year. The total income of the company increased 48.26% at Rs 5202.18 crore for Q3FY23 as compared to Rs 3508.80 crore for the corresponding quarter previous year.
Jindal SAW is a part of the USD 10 billion OP Jindal group, one of the country’s topmost industry houses and the foremost indigenous steel producers and exporters. It started operation in the year 1984 when it became the first company in India to manufacture submerged arc welded (SAW) pipes using the internationally acclaimed U-O-E technology. The business operations are highly structured with three strategic business units: large-diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.
Today, the stock opened at Rs 116.90 with a high and low of Rs 121.75 and Rs 112.20. The stock closed trading at Rs 116.50, up by 6.01%.
In the last six months, the shares of the company have given more than 35% returns and on a YTD basis, the stock has given about 13% returns. The BSE group 'A' stock has a face value of Rs 2.00.
The stock has a 52-week high of Rs 121.75 and a 52-week low of Rs 75.10. The company has a ROCE of 8.39% and an ROE of 5.21%, with a market capitalisation of Rs 3,734 crore.
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