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JSPL becomes Greatest Wealth Creator worldwide in the Steel Sector

Rohit Gupta
Rohit Guptahttps://newbuzzindia.com/user/rohitnbi/
Digital Editor & Founder of Newbuzzindia.com

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Updated on May 7, 2021 12:36 am

The year 2020 has indeed been a roller coaster ride for India as well as the global economy. COVID-19 pandemic had sparked off an unprecedented crisis of significant proportions with economic activities coming to a screeching halt.

When big giants from different industries in India were struggling with their production & sales, JSPL decided to keep its mills running as it turned its focus to export markets like South East Asia, Middle East and Europe to offset the loss in domestic volumes.

The company’s DNA of searching for opportunities in the face of challenges not only allowed JSPL to report a Year on Year growth in shipments in 1QFY21 when the domestic peers reported a sharp drop in volumes but also help support the Indian economy by earning valuable forex.

With the nation gradually unlocking in phases, the recovery has been equally surprising. JSPL has benefited from the sharp economic revival with the company posting 16% Year on Year growth in standalone steel production and 50% Year on Year EBITDA growth in 1HFY21. 

Chart showing unmatched growth of JSPL :

Stock  CMP  52 Wk low  Date-Low  % change from 52wk low
 JSPL             259.4               62.0  4/3/2020                                     318.4
 Usiminas               15.1                 3.8  3/23/2020                                     298.9
  United States Steel Corporation                 16.4                 4.5  3/16/2020                                     262.1
  Steel Authority of India Ltd. (SAIL)                 64.5               20.2  3/30/2020                                     220.1
  HYUNDAI Steel Company          39,400.0        12,400.0  3/23/2020                                     217.7
  ArcelorMittal                19.0                 6.0          43,909.0                                     217.2
 Ternium               29.1                 9.6  3/19/2020                                     203.4
  Gerdau S.A.                 24.5                 8.2  3/19/2020                                     200.2
 Dongkuk Steel          8,090.0          2,780.0  3/19/2020                                     191.0
  JSW Steel Limited               381.8             132.5  4/3/2020                                     188.2
 Ezz Steel               10.7                 4.1  3/19/2020                                     163.5
  Tata Steel Group               632.2             250.9  3/30/2020                                     152.0
  ThyssenKrupp AG                   8.0                 3.3  3/18/2020                                     143.4
 Steel Dynamics               36.4               15.0  3/18/2020                                     142.8
  Evraz Group, S.A.               472.1             200.6  3/23/2020                                     135.3
  Novolipetsk Steel (NLMK)                 28.3               12.1  3/18/2020                                     133.8
  Voestalpine Group                 29.4               12.7  3/16/2020                                     132.2
  Eregli Demir ve Çelik Fabrikalari TAS (Erdemir Group)                 14.9                 6.8  3/17/2020                                     120.2
 Bluescope Steel               17.4                 8.0  3/23/2020                                     116.4
  POSCO       2,71,500.0     1,33,000.0  3/23/2020                                     104.1
  Magnitogorsk Iron & Steel Works (MMK)                 10.0                 5.1  3/18/2020                                       97.0
  Severstal JSC                 18.0                 9.1  3/9/2020                                       96.8
 Kobe Steel             545.0             283.0  3/13/2020                                       92.6
  Nucor Corporation                 52.1               27.5  3/18/2020                                       89.2
 Commercial Metals               19.9               10.8  3/19/2020                                       84.8
  Ansteel Group                   3.2                 1.8  5/25/2020                                       79.7
 Angang Steel                 3.2                 1.8  5/25/2020                                       79.7
 Tenaris                 6.6                 3.8  10/29/2020                                       74.8
  Nippon Steel and Sumitomo Metal Corporation           1,323.5             798.1  4/23/2020                                       65.8
  SSAB                 29.1               18.3  3/16/2020                                       59.3
  JFE Steel Corporation               989.0             626.0  4/6/2020                                       58.0
  Fangda Steel                  6.9                 5.0  4/28/2020                                       39.7
  China Steel Corporation                 24.9               18.4  3/19/2020                                       35.4
  Baosteel Group                  6.0                 4.5  6/12/2020                                       34.8
  Anyang Steel                  2.6                 1.9  2/4/2020                                       34.0
  Maanshan Steel                   2.2                 1.7  10/5/2020                                       26.2
 Tokyo Steel             676.0             542.0  3/13/2020                                       24.7
  Shandong Steel Group                  1.4                 1.2  2/4/2020                                       24.3
  Xinyu Steel                  4.6                 3.9  4/28/2020                                       18.3
  Nanjing Steel                  3.1                 2.7  6/12/2020                                       15.9
  Hebei Steel Group                  2.3                 2.0  5/26/2020                                       14.6
  Baotou Steel                  1.2                 1.0  4/29/2020                                       11.5

JSPL stock price has also mirrored the economic ups and downs during the year with the scrip rising by 4.3x since hitting 52 weeks low in early April.

“JSPL’s unflinching focus to grow volumes by sweating assets coupled with an unwavering commitment to strengthening the balance sheet has helped the company emerge as the largest wealth creator (from the Apr’20 bottom) in the global steel sector in 2020. With more legs to the economic recovery, we firmly believe JSPL’s outlook to be even brighter”, said Amit Dixit, Vice President Institutional Equities at Edelweiss Securities.

The post JSPL becomes Greatest Wealth Creator worldwide in the Steel Sector appeared first on Maverick Times.

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Rohit Gupta
Rohit Guptahttps://newbuzzindia.com/user/rohitnbi/
Digital Editor & Founder of Newbuzzindia.com

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