JSW Steel Q4 2024 Results: Consolidated PAT detained 54% while revenue decreased marginally by 1.93% on a YOY basis

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 17th May 2024 - 05:20 pm

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Synopsis:

JSW Steel Limited announced its quarterly results for March 2024 on 17th May. It reported a consolidated PAT of ₹ 1322 cr for Q4 FY2024. Its consolidated total revenue for Q4 FY2024 declined by 1.93% on a YOY basis reaching ₹46,511 cr. The company also declared a ₹ 7.30 per share dividend.

Quarter result performance

The company’s consolidated total revenue for Q4 FY2024 declined by 1.93% on a YOY basis, reaching ₹ 46511 cr from ₹ 47427 cr in Q4 FY2023. The quarterly consolidated revenue was up by 10.39%. JSW Steel reported a consolidated PAT of ₹1322 cr for Q4 FY2024 against ₹3741 cr in Q4 FY2023, which is a decline of 64.66%. On a quarterly basis, the consolidated PAT was down by 46.041%. The company’s PAT margin stood at 2.82%. Its EBITDA stood at ₹ 6124 cr.

JSW Steel Limited

Revenue

Q4 FY24

 

Q3 FY24

 

Q4 FY23

46,511.00

 

42,134.00

 

47,427.00

 

 

 

 

 

% Change

 

 

10.39%

 

-1.93%

 

(Current)

 

(Q-o-Q)

 

(Y-o-Y)

PBT

Q4 FY24

 

Q3 FY24

 

Q4 FY23

2,012.00

 

3,303.00

 

4,249.00

 

 

 

 

 

% Change

 

 

-39.09%

 

-52.65%

 

(Current)

 

(Q-o-Q)

 

(Y-o-Y)

PBT M BPS(%)

Q4 FY24

 

Q3 FY24

 

Q4 FY23

4.33

 

7.84

 

8.96

 

 

 

 

 

% Change

 

 

-44.82%

 

-51.72%

 

(Current)

 

(Q-o-Q)

 

(Y-o-Y)

PAT (₹ Cr)

Q4 FY24

 

Q3 FY24

 

Q4 FY23

1,322.00

 

2,450.00

 

3,741.00

 

 

 

 

 

% Change

 

 

-46.04%

 

-64.66%

 

(Current)

 

(Q-o-Q)

 

(Y-o-Y)

PAT M BPS (%)

Q4 FY24

 

Q3 FY24

 

Q4 FY23

2.84

 

5.81

 

7.89

 

 

 

 

 

% Change

 

 

-51.12%

 

-63.97%

 

(Current)

 

(Q-o-Q)

 

(Y-o-Y)

EPS

Q4 FY24

 

Q3 FY24

 

Q4 FY23

5.33

 

9.92

 

15.24

 

 

 

 

 

% Change

 

 

-46.27%

 

-65.03%

 

(Current)

 

(Q-o-Q)

 

(Y-o-Y)

 

For the full financial year ending in March 2024, the consolidated PAT stood at ₹ 8973 cr compared to ₹4139 cr in FY 2023, up by 116.79%. For FY 2024, its consolidated total revenue stood at ₹ 176,010 cr compared to ₹ 166,990 cr in FY 2023, up by 5.40%. EBITDA for FY 2024 was ₹ 28,236 cr.

JSW Steel announced a dividend of ₹ 7.30 per share having a face value of ₹ 1. The company informed SEBI about the Minas de Revuboe Limitada (MDR) acquisition approval as well.

JSW Steel’s total sales growth for Q4 FY 2024 was up by 3% in retail, 11% in institutional and 8% in domestic segment. Its total average capacity use in India also reached 92% for FY 2024. The company also won the title of Steel Sustainability Champion by Worldsteel 6th time.

JSW Steel appointed Mr. Swayam Saurabh as the Chief Financial Officer (CFO) effective from 1st June 2024. The company has also announced its plan to raise funds worth ₹ 7000 cr with a ₹ 1 Face Value for long term financing via Non-Convertible Debentures with warrants and/or Equity Shares and/or Convertible Securities (apart from warrants) by way of a Qualified Institutions Placement, which is subject to approval.

About JSW Steel Limited

JSW Steel, the flagship company of the JSW Group, is a leading integrated steel manufacturer in India. The company is known for its innovation and quality, with a wide product range that includes Hot Rolled, Cold Rolled, Bare & Pre-painted Galvanised & Galvalume®, TMT Rebars, Wire Rods, and Special Steel. It also has partnerships with JFE Steel Corp, Japan, and Marubeni-Itochu Steel Inc., Tokyo, and a goal to increase its production capacity to 40 million tons annually by the end of the next decade.

 

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