Jindal Stainless will hold a meeting of the Board of Directors of the Company on 27 June 2024.Powered by Capital Market - Live News

The Board of Jindal Stainless will meet on 27 June 2024 to consider change in the terms of the existing 990 nos. of rated, listed, unsecured, redeemable, non convertible debentures [ISIN: INE220G08034] having face value of Rs 10,00,000/- each, aggregating to Rs. 99 crore by providing security over the assets of the Company, to make them secured. Powered by Capital Market - Live News

Jindal Stainless recently supplied stainless steel to manufacture 100 `Made in India` freight wagons, being exported to Mozambique. These wagons, made up of grade IRSM 44 stainless steel specially developed by Jindal Stainless for Indian Railways freight stock, were exported from Gujarat`s Deendayal Port to South Africa`s Mozambique`s Port of Nacala with the support of the Ministry of Ports, Shipping and Waterways, Government of India. The ministry hailed the development as a major step forward in India`s improving export capabilities and its growing prowess in manufacturing and logistics. The custom-made tippler-style wagons, with a payload of 63 metric tonnes each, were conceptualised and designed by Jindal Rail Infrastructure (JRIL). JRIL has a proven track record of supplying superior quality railway wagons to Indian Railways, the private sector and international markets, and developing new designs of wagons. JRIL has designed and developed these wagons which are lighter in weight from existing wagons. Around 4.3 tonnes of stainless steel specially developed by Jindal Stainless was used to fabricate the floor, side, and end walls of each wagon. Choosing stainless steel over carbon steel ensures enhanced durability and longevity due to its superior corrosion resistance and inert properties, leading to a lower life cycle cost and lower life cycle carbon emissions. The wagons will help transport coal and iron ore, among other things. Of the total 100 wagons, 24 have reached Mozambique, 26 are currently at the port, and the remaining 50 are being transported to the port.Powered by Capital Market - Live News

Jindal Stainless has completed the acquisition of 100% stake in Evergreat International Investment (EIPL), Singapore on 04 June 2024. Consequently, EIPL has become a wholly owned subsidiary, and Chromeni Steels (CSPL) a step-down subsidiary of the Company with effect from 04 June 2024. Powered by Capital Market - Live News

Net profit of Jindal Stainless declined 34.61% to Rs 500.74 crore in the quarter ended March 2024 as against Rs 765.79 crore during the previous quarter ended March 2023. Sales declined 3.19% to Rs 9454.02 crore in the quarter ended March 2024 as against Rs 9765.08 crore during the previous quarter ended March 2023.For the full year,net profit rose 28.31% to Rs 2713.21 crore in the year ended March 2024 as against Rs 2114.50 crore during the previous year ended March 2023. Sales rose 8.03% to Rs 38562.47 crore in the year ended March 2024 as against Rs 35697.03 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales9454.029765.08 -3 38562.4735697.03 8 OPM %10.9511.71 -12.2010.05 - PBDT936.901138.62 -18 4372.153497.72 25 PBT703.55957.24 -27 3493.322773.97 26 NP500.74765.79 -35 2713.212114.50 28 Powered by Capital Market - Live News