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Jindal Stainless (Hisar) Ltd.

BSE: 539597 Sector: Metals & Mining
NSE: JSLHISAR ISIN Code: INE455T01018
BSE 15:43 | 23 Feb 182.70 3.75
(2.10%)
OPEN

178.65

HIGH

186.30

LOW

177.45

NSE 15:51 | 23 Feb 183.05 4.10
(2.29%)
OPEN

179.95

HIGH

186.70

LOW

177.40

OPEN 178.65
PREVIOUS CLOSE 178.95
VOLUME 95379
52-Week high 252.00
52-Week low 104.60
P/E 12.55
Mkt Cap.(Rs cr) 4,311
Buy Price 182.70
Buy Qty 4098.00
Sell Price 0.00
Sell Qty 0.00
OPEN 178.65
CLOSE 178.95
VOLUME 95379
52-Week high 252.00
52-Week low 104.60
P/E 12.55
Mkt Cap.(Rs cr) 4,311
Buy Price 182.70
Buy Qty 4098.00
Sell Price 0.00
Sell Qty 0.00

Jindal Stainless (Hisar) Ltd. (JSLHISAR) - Chairman Speech

Company chairman speech

Dear Shareholders

It is with a deep sense of satisfaction that I highlight the value that JindalStainless (Hisar) Limited has created for our shareholders in FY 2016-17. The yearwitnessed a slew of improvements across different work areas carried out with the simplebut solid principle of getting the basics right.

Performance in FY 2016-17 steadily improved over the past few years. Profit beforedepreciation interest exceptional items and taxes (EBIDTA) grew by nearly 15% at Rs.924 crore over Rs. 805 crore in FY 15-16. Our standalone gross revenue for the financialyear ended on 31st March 2017 stood at Rs. 7576 crore as against Rs. 7044 crore for theprevious financial year registering a growth of 7.5%. Your company's net profit jumped toRs. 218 crore as compared to Rs. 25 crore in the previous fiscal.

The path to profitability was paved with considerable challenges. The first nine monthsof FY 2017 witnessed a staggering rise in imports as dumping continued unabated byChinese stainless steel producers. The situation was brought under some controlparticularly for sub-standard goods only after the imposition of Quality Control Order inFebruary 2017. Demonetisation adversely impacted company's sales by affecting several ofour end consumer segments such as the consumer durables and automobile.

Notwithstanding these challenges JSHL marched ahead on the path of sustainable growth.We took significant strides in maximizing operational and production efficiencies. We mademarked progress in customer experience by bettering our quality and enhancing our serviceand delivery standards. This was backed by enhanced emphasis on production and processenhancement volume growth and operational excellence. Efforts done by JSHL collective inharnessing the power of IT substantially contributed to our growth story. All achievementsscripted in the journey of JSHL are a result of our zealous and committed workforce.Without them success is unimaginable.

In the field of specialized and high- end stainless steel solutions Jindal Stainless(Hisar) Limited is a name to reckon with. Our coin blanks precision strips and razorblade grade of steels command a global audience. In the near future we target to improveour profitability and EBITDA margin by improving our product mix. We'll raise thepercentage of value-added cold rolled products from the current level of 50% to 65% in ourofferings. Our product diversification strategy of venturing into new sectors like defenceand automotive continues in full swing.

The outlook for stainless steel sector in India is promising. The compounded annualgrowth rate for this sector is pegged at 7.5% over the next decade. Opportunities aregalore in segments such as ART (Automobile Railway & Transportation) ABC(Architecture Building & Construction) process industries etc. Being the onlyspeciality stainless steel producer in India JSHL is fully geared to stay ahead of thecurve by making deep inroads into all these sectors.

We have embarked on a new journey to realize our Vision - Improving lives throughtrustworthy and innovative stain-less solutions.

In a corrosion-prone tropical country like India stainless steel assumes specialsignificance as the metal of choice. Its resistance to temperature variations andcorrosion crash absorption capacity low life-cycle & maintenance costs aestheticbeauty and hygienic properties make it a befitting choice for several industries. Theimportance of stainless steel as the most hygienic choice also finds resonance in theSwachch Bharat Abhiyaan. I am confident that with this vision we will take ourrelationship with all our stakeholders several notches higher.

A glorious history and a promising future together drive our fervour to succeed. Iwould like to thank all our stakeholders for their trust and continued support in usthroughout this journey.

Ratan Jindal

Chairman