Q1 2025 Jindal Stainless Ltd Earnings Call Transcript
Key Points
- Jindal Stainless Ltd (BOM:532508) delivered the highest ever sales volume in Q1 FY25 with a 5% increase year-on-year.
- The company's co-branding scheme, Jindal Saathi 5.0, has been successful and plans are in place to roll out similar schemes in other customer-facing segments.
- The acquisition of Chromeni Steels Private Limited, which has a 0.6 million ton per annum cold-rolling mill, was completed.
- The company received several prestigious awards for its ESG efforts, including the International Safety Award from the British Safety Council for the fifth consecutive year.
- Jindal Stainless Ltd (BOM:532508) is confident about the domestic stainless steel demand continuing to rise, supported by robust economic activities and government infrastructure spending.
- Export sales remained flat quarter-on-quarter, affected by extended transit times and increased freight costs due to the ongoing Red Sea issue.
- The company faced challenges in executing the BIS certification norms, which impacted the effectiveness of import regulations.
- There were losses booked in Chromeni Steels Private Limited during the quarter, amounting to INR34 crore.
- The company has taken an enabling resolution to raise equity-like instruments up to INR5,000 crore, indicating potential future financial needs.
- Nickel price volatility remains a concern, as consistent sharp falls in nickel prices could impact the company's margins.
Ladies and gentlemen, good day, and welcome to the Jindal Stainless Limited conference call hosted by PhillipCapital India Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I'll now hand the conference over to Mr. Vikash Singh from PhillipCapital India Private Limited. Thank you and over to you sir.
Thank you, Sumit. Good afternoon, everyone. Welcome to Jindal's 1Q FY25 con-call. From the management side, today we have with us Mr. Abhyuday Jindal, Managing Director; Mr. Tarun Khulbe, CEO; and Mr. Anurag Mantri, EV and Group CFO; and Ms. Shreya Sharma, Head, Investor Relations. Without any ado, I'll just hand over the call to Mr. Abhyuday Jindal for his opening remarks. Over to you, sir.
Yes, thanks, Vikash. Good afternoon, everyone, and a warm welcome on the call. We have shared our Q1 FY25 earnings presentation with the stock exchanges, which
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