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The Exchange has received the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vividh Finvest Pvt Ltd Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SBICAP Trustee Company Ltd Corporate Action-Amalgamation/ Merger / Demerger
Scheme of Amalgamation - Regulation 37(6) of SEBI LODR Regulation 2015 Announcement under Regulation 30 (LODR)-Change in RTA
Transfer of operations of Share Transfer Agent from Karvy Computershare Private Limited to Karvy Fintech Private Limited
JSW Steel: Red-hot competition as the company works for growth
By Suhani Adilabadkar India’s largest steelmaker JSW Steel (part of the $13 bn JSW group, and in 15 stock screeners) has the highest market capitalization among its steely peers. Initiated in 1982 at Vasind near Mumbai, the operations include the country’s largest single location steel producing facility with 12 MTPA capacity at Vijayanagar, in Karnataka. At a total production capacity of 18 MTPA, the company has enhanced its capacity 9 times over the past 15 years and is marching on to achieve 40 MTPA in the next 7 years. Regarded as the most efficient steel producer in the country with an inherent ability to expand capacities at lower costs, JSW Steel currently has the highest utilization rate of 91%, the best in the industry. The company with its extensive portfolio of flat and long steel products caters to a spectrum of industries, namely construction, infrastructure, automotive and consumer durables. Quick Takes Regarded as the most efficient steel producer in the country with an inherent ability to expand capacities at lower costs. JSW Steel has the highest utilization rate of 91%, the best in the industry. PAT was up 152% or 2.5 times at Rs. 2089 cr in Q2 FY19, highest among its peers, compared to Rs. 829 cr same period previous year. JSW Steel is undertaking a Rs. 40,000 crore expansion drive to enhance its total manufacturing capacity to 24.7 MTPA by March 2020. JSW Steel has CAGR of 39% and 13% for PAT and Revenue respectively over the past five years. Entry of global players like ArcelorMittal with 100 MTPA global capacity and protectionist trade measures across economies are potential threats for long-term sustainable growth. September quarter performance: Industry's best operating profit margin Aided by higher demand and strong steel prices, JSW Steel reported sturdy quarterly numbers with revenue from operations growing 28% YoY at Rs. 21552 cr against Rs. 16818 cr corresponding quarter previous year. The company reported substantial increase of sales volumes in the domestic market, mainly due to certain specific changes made to its revenue basket. The Joint MD & Group CFO, M.V.S. Seshagiri Rao clarified, “Our exports YoY have been brought down to 17% v/s 26% in the previous quarter. Sales in the auto industry went up substantially and our share in the south and west market has gone up”. Consequently, PAT was up 152% or 2.5 times at Rs. 2089 cr in Q2 FY19, highest among its peers, compared to Rs. 829 cr same period previous year. Operating Profit stood at Rs. 4906 cr and exhibited 62% YoY growth with industry best operating profit margin of 22.76%. With these strong fundamentals and steel prices gaining momentum from November last year, JSW stock has run up more than 30% over the past one year. First Among Equals: JSW Steel v/s Tata Steel JSW Steel recently became second in command, pipping Tata Steel in 2014 and dislodged SAIL as the largest steel maker domestically in 2015. Tata Steel’s ‘Corus’ acquisition in 2007 and its repercussions in the aftermath of 2008 crises and the subsequent slowdown gave enough time and leeway to JSW Steel to enhance its production capacity through strategic buyouts, technical collaborations and brownfield expansions. JSW Steel entered into a technological collaboration with JFE, Japan in 2009 to produce advanced high strength steel for automobile sector and later in 2011 formed a joint venture with Marubeni-Itochu Steel Japan, to establish contemporary steel processing centres. While Tata Steel was putting its house in order, JSW Steel was busy augmenting its technical capabilities and operational dexterity evident from its strong operational competence and higher utilization levels. From the year 2009, Tata Steel has posted negative PAT in five out of nine past financial years. The company has returned to black in March FY18 after reporting a net loss for three consecutive years. JSW Steel on other hand has a CAGR of 39% and 13% for PAT and Revenue respectively over the past five years. In the current scenario, JSW Steel is considered as one of the best steel stocks in the world as the company has been consistently maintaining high operating margins and lower costs. JSW Steel’s operating margin stands at 21.02% whereas Tata Steel reported 16.45% as on 31st March 2018. NCLT Bidding War: The Ongoing Battle The Monnet Ispat acquisition through NCLT resolution has increased JSW Steel’s capacity to 19.6 MTPA annually. Not to be left behind, Tata Steel has taken Bhushan Steel under its fold enhancing its annual capacity to 18.6 MTPA. With both the combatants neck and neck, Bhushan Power and Steel producing 3 million tonnes annually holds the key for strong inorganic growth in a highly competitive industry. Fructification of this acquisition will realize Tata Steel’s long-lost dream whereas JSW Steel apart from its crown retention will fulfil its long-term strategy of achieving higher NSR (Net Sales Realization) by moderating exports and improving higher quality domestic revenue enhancing its arsenal to battle out global peers including Tata Steel in the years to come. Future Growth Prospects Tata Steel’s total global capacity stood at 25 MTPA by the end of FY18 and it intends to increase it’s indian capacity to 30 MTPA in the next 6-7 years. Though this might be insignificant for a focussed domestic player like JSW Steel aiming for 40 MTPA by 2025, entry of global players like ArcelorMittal with 100 MTPA global capacity and protectionist trade measures across economies are potential threats for its long-term sustainable growth. To mitigate such hindrances, JSW Steel has pursued overseas acquisitions and aims to replicate its low-cost model to bolster its consolidated manufacturing capacity. The company acquired Acero Junction Holdings in US in the March quarter and Italy’s Aferpi, in May this year. Consequently, total overseas capacity stands at 4 million tonnes per year. In addition to these acquisitions, JSW Steel is undertaking Rs. 40,000 crore expansion drive to enhance Vijaynagar capacity to 13 MTPA and double Dolvi’s capacity taking its total manufacturing capacity to 24.7 MTPA by March 2020. India has replaced Japan as the second largest steel producer in the world and with domestic steel demand doubling to 245 million tonnes in the next 10-12 years, the smelting rivalry will hopefully enhance long term shareholder wealth for investors in this industry. JSW Steel submits EoI for Asian Colour Coated Ispat
About 13 private equity players believed to have evinced interest in the asset Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Beaufield Holdings Ltd Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for JSL Overseas Ltd Announcement under Regulation 30 (LODR)-Press Release / Media Release
JSW Steel Implements TQM at Vijayanagar Works Unit to strengthen overall customer service orientation JSW Steel to invest over Rs 5,000 cr on manufacturing capacity
JSW Steel plans to pump in over Rs 5,000 crore to strengthen its downstream manufacturing capacity and is also keen to pursue stressed downstream ass