Jindal Stainless’ revenue grows in Q1, with credit rating upgraded by credit rating agencies
Time:Fri, 30 Jul 2021 07:31:55 +0800
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Jindal Stainless Limited (JSL), the largest stainless steel producer in India, reported that its revenue was INR 3,841 crore in the first quarter ended June 30, 2021, up by 204% compared to the same period a year ago. The sales volume totaled 237,852 tons, rising by 168% year on year.
During the period, JSL’s profit after tax was INR 271 crore, compared to a loss of INR 87 crore in the same period a year earlier. The EBITDA had a year-on-year increase of 647% to INR 580 crore.
CRISIL Ratings has given JSL an A+/Stable rating for its long-term credit facilities and A1 for its short-term credit facilities. India Ratings and Research (Ind-Ra) has upgraded JSL’s long-term credit rating to A+ from the previous BBB+, and the short-term credit rating has also been raised to A1+.
