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Serves a huge part of the international market is also. Today- India is in seventh position among all the crude steel producing countries. Premier steel plants operating in India: Salem Steel Plant at Tamil Nadu. Bhilai Steel Plant at Chattisgarh. Durgapur Steel Plant at West Bengal. Alloy Steel Plants at West Bengal. Visvesvaraya Iron and Steel Plant in Karnataka. Rourkela Steel Plant at Orissa. Bokaro Steel Plant at Jharkhand.
Million tonnes
59.5 7.2 12.7% 56.3 3.2 5.3%
Even though the real estate and housing sector showed marked decline during this period, the same was compensated by sustained growth in sectors like infrastructure, manufacturing and automobile. Indias per capita steel consumption - 48 kg. 5th Largest producer of steel in the world. Expected that it will become 2nd largest by 2015 on the back of the capacity addition.
COMPANY PROFILE
Type Public (BSE: 500470)
Founded, Founder
Head quarters Based in Area served
Key people
Products Revenue Profit Employees Parent Website
30000 25000 20000 15000 10000 5000 0 Sales Operating profit Gross profit Mar ' 06 17144.22 5931.51 6067.83 Mar ' 07 19762.57 6973.27 7233.04 Mar ' 08 19693.28 8223.54 7679.84 Mar ' 09 24315.77 9133.43 8289.01 Mar ' 10 25021.98 8952.09 8297.48 Sales Operating profit Gross profit
Annual crude steel capacity of 31 million tonnes. Market share of nearly 13 percent. World's seventh largest steel company.
50 40 30 20 10 0 OPM (%) GPM (%) NPM (%) 1 34.6 34.87 20.15 2 35.29 35.81 20.91 3 41.76 38.34 23.4 4 37.56 33.66 21.12 5 35.78 32.07 19.5 OPM (%) GPM (%) NPM (%)
Total 70,000.00 60,000.00 50,000.00 40,000.00 30,000.00 20,000.00 10,000.00 0.00 Total Mar ' 06 12,271.45 Mar ' 07 23,741.48 Mar ' 08 45,322.42 Mar ' 09 56,650.78 Mar ' 10 62,407.95 Total
RATIOS
Mar ' 10
46.12 58.32 56.37 68.58 8 100.38
Mar 09
65.63 78.95 69.7 83.02 16 125.6
Mar ' 08
60.58 72 63.85 75.27 16 112.85
Mar ' 07
73.87 87.98 72.74 86.85 15.5 119.11
Mar ' 06
62.57 76.58 63.35 77.36 13 106.31
418.94
330.24
296.65
236.82
171.68
PROFITABILITY RATIOS: Operating margin (%) Gross profit margin (%) Net profit margin (%) Adjusted cash margin (%) Adjusted return on net worth (%) Reported return on net worth (%) Return on long term funds (%) LEVERAGE RATIOS: Long term debt / Equity Total debt/equity Owners fund as % of total source Fixed assets turnover ratio 0.67 0.67 59.55 1.12 1.31 1.34 42.77 1.22 1.07 1.08 48.16 1.2 0.67 0.69 59.12 1.09 0.25 0.25 79.49 0.98 35.7 31.36 19.96 20.65 11 13.45 13.06 37.68 33.69 21.09 23.83 19.87 21.1 15.21 41.94 37.7 23.43 26.41 20.42 21.52 17.16 39.61 34.91 23.53 28.47 31.19 30.71 28.11 38.88 33.76 22.78 27.54 36.44 36.9 43.93
LIQUIDITY RATIOS: Current ratio Current ratio (inc. st loans) Quick ratio Inventory turnover ratio PAYOUT RATIOS: Dividend payout ratio (net profit) Dividend payout ratio (cash profit) Earning retention ratio Cash earnings retention ratio COVERAGE RATIOS: Adjusted cash flow time total debt Financial charges coverage ratio Fin. charges cov.ratio (post tax) COMPONENT RATIOS: Material cost component (% earnings) Selling cost Component Exports as percent of total sales Long term assets / total Assets Bonus component in equity capital (%)
1.12 1.12 0.76 10.9 16.64 13.68 79.66 83.92 4.83 5 4.32 33.5 0.32 8.41 0.81 28.5
0.97 0.91 0.57 9.36 27.15 22.8 71.16 76.03 4.58 6.37 5.15 35.19 0.25 13.85 0.83 34.61
3.92 3.81 3.52 10.84 29.39 24.93 69.02 73.94 3.41 9.25 6.94 30.85 0.26 11.64 0.3 34.61
1.77 1.69 1.37 10.81 26.15 21.9 74.25 78.38 1.89 29.45 21.07 33.01 0.37 12.05 0.53 43.56
0.72 0.71 0.29 9.89 23.39 19.16 76.32 80.65 0.59 36.46 26.42 31.49 0.53 13.94 0.73 45.68
JSW STEEL
PRODUCTS: pellets, slabs, HR coils/ sheets, HR plates, CR coils, galvanized coils/ sheets, colour coated coils/ sheets. It has grown to USD 2.50 billion in little over a decade. It is Indias: Third largest steelmaker. Largest integrated private steel manufacturer in terms of installed capacity. Largest manufacturer and exporter of galvanized steel with its products exported to over 100 countries.
It is been ranked 2nd among top 32 World Class steelmakers by World Steel Dynamic (June 2010).
JSW IN 2010
REVENUE ACCOUNTS
Gross Turnover Net Turnover EBIDTA Depreciation Interest PBT Provision for Taxation PAT
Rs. in crores
19,456.64 18,202.48 4,805.74 1,123.41 862.68 2,819.65 796.91 2,022.74
CAPITAL ACCOUNTS Gross Turnover Net Turnover EBIDTA Depreciation Interest PBT Provision for Taxation PAT Gross Block Net Block Capital WIP Total Debt Long Term Debt Working Capital Loans Equity Capital Reserves & Surplus
Ranked 2nd among top 32 World Class steelmakers by World Steel Dynamic (June 2010)
Rs. in crores 19,456.64 18,202.48 4,805.74 1,123.41 862.68 2,819.65 796.91 2,022.74 21,795.58 16,866.14 6,684.27 11,585.10 10,498.69 1,086.41 187.05 9,179.23
RATIOS
Face Value Dividend Per Share Operating Profit Per Share (Rs) Net Operating Profit Per Share (Rs) Free Reserves Per Share (Rs) Operating Profit Margin(%) Profit Before Interest And Tax Margin(%) Gross Profit Margin(%) Cash Profit Margin(%) Adjusted Cash Margin(%) Net Profit Margin(%) Adjusted Net Profit Margin(%) Return On Capital Employed(%) Return On Net Worth(%) Adjusted Return on Net Worth(%) Return on Assets Excluding Revaluations Return on Assets Including Revaluations Return on Long Term Funds(%) Current Ratio Quick Ratio Debt Equity Ratio Long Term Debt Equity Ratio 10.00 9.48 228.45 971.25 482.37 21.52 15.28 15.33 12.46 12.46 9.09 9.09 13.08 19.14 13.74 502 502 13.5 -1.45 -1.69 -0.74 -0.8
Interest Cover Total Debt to Owners Fund Financial Charges Coverage Ratio Financial Charges Coverage Ratio Post Tax Inventory Turnover Ratio Debtors Turnover Ratio Investments Turnover Ratio Fixed Assets Turnover Ratio Total Assets Turnover Ratio Asset Turnover Ratio Average Raw Material Holding Average Finished Goods Held Number of Days In Working Capital Material Cost Composition Imported Composition of Raw Materials Consumed Selling Distribution Cost Composition Expenses as Composition of Total Sales Dividend Payout Ratio Net Profit Dividend Payout Ratio Cash Profit Earning Retention Ratio Cash Earning Retention Ratio AdjustedCash Flow Times
1.57 -0.74 2.81 2.49 6.95 35.79 6.95 -1.17 -1.15 -1.17 42.01 16.39 -81.8 60.83 64.75 1.44 13.25 8.63 4.8 83.72 89.88 2.39
COMPARITIVE STUDY
106.3
100
80
60
46.12
40
20
8
1 2
9.5
TISCO 46.12 8
PROFITABILITY RATIOS
40 35 30 25 20 15 10 5 0
35.7
17.3
20.65 14.46
21.14
15.74 11
13.45
15.5 13.06
Series1 Series2
Net profit Adjusted cash Adjusted Reported Return on margin (%) margin (%) return on net return on net long term worth (%) worth (%) funds (%)
RATIOS Operating margin (%) Gross profit margin (%) Net profit margin (%) Adjusted cash margin (%) Adjusted return on net worth (%) Reported return on net worth (%) Return on long term funds (%)
LEVERAGE RATIOS
70
60
50 40 30 20 10 0 Long term debt / Equity Total debt/equity 0.67 1.2 0.67 1.26
59.55
Series1 Series2
1.26
1.12
0.83
RATIOS Long term debt / Equity Total debt/equity Owners fund as % of total source Fixed assets turnover
LIQUIDITY RATIOS
1.2 1 0.8 0.6 0.4 0.2 0
1.12 0.76
1.12
Current ratio
Quick ratio 0.1
TISCO
JSW
RATIOS
Current ratio Quick ratio
TISCO
1.12 0.76
JSW
1.12 0.1
PAYOUT RATIOS
100 90 80 79.66 85.72 83.92 91.88
70
60 50 40 30 20 10 0 Dividend payout ratio (net Dividend payout ratio (cash profit) profit) Earning retention ratio Cash earnings retention ratio 16.64 10.63 13.68 6.8 Series1 Series2
RATIOS Dividend payout ratio (net profit) Dividend payout ratio (cash profit) Earning retention ratio Cash earnings retention ratio
COVERAGE RATIOS
5.2 5 5 4.8 4.6 4.4 4.39 4.83 4.7 4.49 Series1
4.32
4.2
4 3.8 Adjusted cash flow time total debt Financial charges coverage ratio Fin. charges cov.ratio (post tax)
Series2
RATIOS Adjusted cash flow time total debt Financial charges coverage ratio Fin. charges cov.ratio (post tax)
COMPONENT RATIOS
70 62.83 60 50 40 33.5 30 20 10 0.32 0 1 2 3.44 Material cost component (% earnings) Selling cost Component
RATIOS
TISCO