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Jindal Stainless optimistic to hit volume growth guidance of 20% in FY22

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Jindal Stainless optimistic to hit volume growth guidance of 20% in FY22

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Jindal Stainless is optimistic that it will hit volume growth guidance of 20 percent in FY22, Anurag Mantri, group CFO, told CNBC-TV18 on July 28.

Jindal Stainless is optimistic that it will hit volume growth guidance of 20 percent in FY22, Anurag Mantri, group CFO, told CNBC-TV18 on July 28.
Mantri’s remark comes two days after the stainless steel producer reported earnings for the June-ended quarter. Revenue of the firm surged in the quarter while margins also saw a big improvement. Moreover, the company’s debt reduction has continued and debt is down 30 percent since March of last year.
“If things (current situation) prevails, we will hit sales volume growth of 20 percent which we guided earlier. However, keeping the third wave (COVID-19) or certain challenges in mind, revising the guidance to 15-20 percent, but we are good to go towards 20 percent,” he said.
Speaking about the company’s debt, Mantri said that after knocking off the ICDs, the consolidated debt will be less than Rs 2,800 crore. “Our debt-equity is less than 0.5 on a consolidated basis, debt EBITDA is less than 0.75,” he added.
Mantri asserted that besides being capex intensive, the firm is focused on a stronger balance sheet.
For the entire management interview, watch the video
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