Jindal Iron & Steel Co. Ltd. (JISCO) has reported good  financial performance for consecutive second quarter for the year 2004-05.  Following are the major highlights :  

During H1 2004-05, the Company has sold 3.31 lac tonnes GP/GC, recording a volume growth of 29% over last year.   The Company has firmly entrenched into  European and American markets with exports at 75% of its production and has consolidated its position as a major global player in the galvanised steel segment.   Exports for the quarter at Rs.568.05 crores grew by a whooping 58% compared to Q2  2003-04. The Company has already crossed Rs.1,000 crore export turnover in the first 6 months.

Total turnover for first half year is Rs.1368.19 crores as against Rs.991.71 crores for H1 2003-04, a growth of 38%.   Sales for the quarter ended September, 2004 at Rs.758.95 crores grew by 45%, as compared to Q2 2003-04.   The Company has also posted healthy 25% growth in sales value quarter over quarter (i.e. compared to Q1).

Profit Before Interest Depreciation and Taxes (EBIDTA) for Q2 grew by 16% at Rs.125.71 crores compared to Rs.108.37 crores for Q1 of  2004-05.   With this the company has recorded EBIDTA of Rs.234.08 crores in H1, a growth of 43% compared to H1 of 2003-04.    Profit Before Tax (PBT)  for Q2 is Rs.95.28 crores (Rs.77.14 crores for Q1).   PBT for H1 2004-05 is Rs.172.42 crores (Rs.90.58 crores for H1 2003-04).

The Company continues its focus on debt reduction and has repaid Rs.69 crores in the first 6 months.   Interest cost is lower by 29% during H1 2004-05.   The Company now has a healthy debt equity ratio of 0.61:1.

 The Company is focussing on value added products, aggressive branding & continuous de-bottlenecking.  The Company is also working on increasing production capacities.   The capacity on enhancement will be 0.9 million tonne of cold rolling capacity, 0.8 million Tonne of Galvanising Capacity and 0.1 million Tonne of colour coating by 2^nd Quarter 2005.