Multibagger alert: This steel company has tripled investors’ wealth in a year!
These returns are nearly 9 times the returns generated by the S&P BSE 500 index, of which the company is a part.
Jindal Stainless (Hisar) Ltd (JHSL), an S&P BSE 500 company, has given its shareholders exceptional returns in the last 1 year. During this period, the company has tripled the investors' wealth as the share price jumped from Rs 131.05 on 5th April 2021 to Rs 401.55 on 4th April 2022, giving returns of 206% YoY.
An investment of Rs 1 lakh in the stock would have turned to Rs 3.06 lakh today. These returns are nearly 9 times the returns generated by the S&P BSE 500 index, of which the company is a part. In the last one year, the index has jumped from the levels of 49,159.32 on 5th April to 60,611.74 on 4th April 2022, giving returns of 23% YoY.
Established in 1975, JHSL is an integrated stainless steel manufacturing company with a melting capacity of 8 lakh tons per annum. The company is also the world's largest producer of stainless-steel strips for razor blades and the country's largest producer of coin blanks, fulfilling the needs of Indian and international mints.
The company’s Specialty Product Division caters to the high-end precision and speciality stainless steel requirements of reputed Indian and international customers. The product range includes slabs and blooms, hot-rolled coils, cold-rolled coils, plates, blade steel, coin blanks, and precision strips.
Currently, the stock is trading at a TTM PE of 5.51 against the industry PE of 6.64x. In FY21, the company delivered an ROE and ROCE of 23.02% and 23.11%, respectively.
Speaking about the future plans, the company intends to continue its focus on the development of new value-added stainless-steel grades, process improvements, and customer satisfaction by developing customized products matching their specific requirements.
At 11.39 am, the shares of Jindal Stainless (Hisar) Ltd were trading at Rs 401.30, a marginal decrease of 0.06% from the previous day’s closing price of Rs 401.55 on BSE. The stock has a 52-week high and low of Rs 433.5 and Rs 123.55, respectively.
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