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Informist, Monday, Jan. 27, 2025

 

By Simran Rede

 

MUMBAI – Analysts expect JSW Infrastructure Ltd. to report single-digit volume growth for the December quarter. Brokerages say the weakness in volume growth will be majorly due to lower coal imports and a decline in iron ore exports. 

 

Nuvama Institutional Equities anticipates single-digit volume growth for the quarter due to lower coal imports into India. Kotak Institutional Equities projects an 8% year-on-year increase in cargo volume, driven by 10% inorganic growth. Kotak Equities expects muted volume growth due to low iron ore exports and a shutdown of the Dolvi plant in October. The company will also implement the change in sourcing of iron ore for the Dolvi plant, which has an impact on the volumes of Paradip, Dharamtar and Jaigarh ports, Kotak Equities said.

 

JSW Infrastructure is expected to post a consolidated net profit of INR 3.14 billion for the December quarter, up over 25% on year, according to the average of the estimates of four brokerages. It is expected to post consolidated revenue of INR 11.26 billion, up around 20% on year. Sequentially, the company's consolidated net profit is expected to fall 15% and its revenue is expected to jump 12%.

 

The highest estimate for consolidated net profit was by Kotak Institutional Equities at INR 3.35 billion, and the lowest estimate of INR 2.77 billion was by Nuvama. Kotak Institutional Equities gave the highest estimate for consolidated revenue at INR 12.02 billion, while the lowest estimate was by Motilal Oswal Financial Services at INR 10.65 billion.

 

JSW Infrastructure is expected to report earnings before interest, tax, depreciation and amortisation of INR 5.68 billion for the December quarter, up 1.7% on year, according to the average of the estimates of four brokerages. The EBITDA is expected to be in the range of INR 5.43 billion to INR 5.89 billion.

 

All five brokerage reports on the company available with Informist have a 'buy' rating on the stock. At 1140 IST, shares of the company traded at INR 259.20 on the National Stock Exchange, down 5.2%. The stock is 36% below the highest target price and over 20% below the lowest target price by the brokerages with a 'buy' rating. Additionally, the stock is around 10% lower from the closing price on Oct. 28, when it released its earnings for the September quarter.

 

The company will announce its earnings for the December quarter on Tuesday.

 

Following are the Oct-Dec earnings estimates for Indian Hotels based on reports from nine brokerage firms in descending order by the estimate of net profit:

 

Brokerage firm	Net Sales	Net Profit	EBITDA
	----------(In INR million)--------
Kotak Institutional Equities	12,017	3,349	5,885
Motilal Oswal Financial Services Ltd	10,650	3,278	5,751
Elara Securities (India) Pvt Ltd	11,622	3,173	5,641
Nuvama Wealth Management Ltd	10,745	2,773	5,432
Average	11,259	3,143	5,677

 

End

 

Edited by Avishek Dutta

 

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