Jindal Saw Ltd: Result Update

Jindal Saw  Ltd came out with good set of numbers for the quarter ended December 2014. The profit before tax in Q3FY15 came as Rs.101.3 Cr as against Rs.60 Cr  in Q3FY14. During the quarter, the net profit of the company rose 23.74% to Rs 619.20 million from Rs 500.40 million in the same quarter last year.

Net sales for the quarter  rose marginally 3.97% to Rs.17,774.30 million, compared with Rs.17,096 million for the prior year period.

Earnings per share for the quarter stood at Rs.2.21, registering 22.10% growth over previous year period.

It is pertinent to mention here that, Jindal Saw reported 239% rise in net profit for the July-September quarter, 2014-15, at Rs.74.60 crore on higher sales.

Net turnover of Jindal Saw in Q2, 2014-15 rose to Rs.1,589.50 crore from Rs.1,233.70 crore a year earlier.

As of 30th September, 2014, the company has orders worth around $1 billion and 65% of which is for large diameter pipes. The orders for large diameter pipes are slated to be executed by June 2015 and in case of ductile iron pipes, the same are slated to be executed over next 12-18 months or more.

The company which produces pipes used in different industries had clocked Rs.22 crore net profit in Q2FY14.

A buy call was given to the Premium Group members yesterday at Rs.84-84.40. The investors can still accumulate the scrip at the CMP of Rs.84.70--84.80, for a short term target of Rs.92. 

It is to b e  noted that, Jindal Saw Ltd was earlier (October, 20, 2014) recommended a buy at Rs.75.95, after which it made all time high of Rs.115.80.