Saturday, November 27, 2021

Jainam Ferro Alloys pulls off a mammoth show in First half, EBIDTA zooms 892% and PAT surged 13.9x (YoY) - United News of India

Last updated Monday, November 22, 2021 07:24 ET , Source: NewsService

RAIPUR, India, Nov. 22, 2021 /PRNewswire/ -- Jainam Ferro Alloys (I) Limited (NSE: JAINAM) has posted a magnanimous set of financial results for the half year ended on 30th September 2021.

The Company has reported a multifold jump of 1394% in PAT in the first half of FY22 to Rs 1508.76 lakhs, compared to Rs 100.99 lakhs in the corresponding period previous year. On a sequential basis, net profit surged over 604% from Rs 214.34 lakhs in H2FY21 period.

Raipur (Chhattisgarh) based Jainam Ferro Alloys (I) Limited is one of India's leading providers of Ferro Alloy products; such as Ferro Manganese and Silico Manganese.

The Company has sub-merged arc furnaces which is the basic infrastructure for a Ferro Alloy Industry. The company has a superior client base which includes blue chip Companies such as JSW Steel, Tata Steel, Steel Authority of India Ltd. (SAIL) and Jindal Steel and Power among others.

The total income of the ferro alloy producer rose 151 percent on YoY basis to Rs. 9,050.72 lakhs in H1FY22, compared to Rs. 3,607.03 lakhs in H1FY21. On a sequential basis, the total income jumped about 36.2 percent from Rs. 6,644.70 lakhs in H2FY21.

The EBITDA of the company rallied more than 892% to Rs. 2,104.24 lakhs in H1FY22 from Rs. 212.17 lakhs in the same period previous year. On a sequential basis, the EBITDA jumped about 400% from Rs. 420.51 lakhs in H2FY21

The basic and diluted earnings per share (EPS) of the company jumped manifold, as much as 15 times to Rs 16.29 per...

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