Jindal Saw Ltd.

*Jindal Saw Ltd.*

C&H Pattern: Yearly Basis
Strong Vol. Consolidation / Continued BuiltUp
Multiyear Price Trendline: BreakOut

With Upside, Trail SL
Book Profit as per Risk Appetite

Snapshot
Estab: ’84 (PR Jindal Group Co). Mfgs. LSAW, HSAW, DI, Seamless pipes & pellets.
6 Plants in India. Captive Iron-ore Mine (Bhilwara)/180 MMT/6-7MTPA production.
Sale: Domestic/Exports=82:18 (FY22)

Sales / Profitability: Improving (Jun’22 an Aberration)
RoA/RoE/RoCE: Stable /Improving
Moderate Leverage, Stable TNW. +ve CF from Ops. C&CE of Rs.220 Crs (Sep’22)
Order book of $974 Mn (Aug’22). Healthy Cash Accruals from Ops.

Concern:
High Investment / Loans & Advances in Subs.
High Contingent liabilities of ~Rs.1633 Crs (FY22)
Protracted litigation bw JITF (Sub) & NTPC.
Stretched WC Cycle.

Do Your Own Research as Well. This is Just an Opinion.
Happy Investing :)