Jindal SAW Q4 PAT up by 96%

Jindal SAW Ltd., a total pipe solution company in the country, today announced the unaudited (standalone) financial results for the 4th Quarter ended December 31, 2009. The EBITDA is up by 50% to Rs. 292 Crores from Rs. 194 Crores; PBT is higher by 79% at Rs. 229 Crores from Rs. 127 Crores during the same quarter in the previous year. The PAT is up by 96% at Rs. 170 Crores from Rs. 86 Crores.

Some of the reasons attributable to higher margins are (a) execution of orders in all segments having better profitability (b) increase in quantities sold in all segments coupled with execution of better profitability orders. The blended EBITDA margin /PMT in December 2009 improved to Rs 11633 PMT as against Rs. 9,629 PMT for the quarter ended December 2008.

Jindal Saw expects to perform consistently for the rest of the accounting period as the current order book especially for Large diameter pipes and Ductile Iron Pipes are sufficient for this period. We expect that with the gradual recovery of the global economy, recovering steel prices as also with the support from the better Indian market conditions for Oil & Gas Sector as well as for the Water sector, the Company should be able to get additional orders.

About Jindal SAW Ltd.: Jindal SAW Ltd is a part of USD 10 billion Jindal Group, the fourth largest industrial house in India. The group also has the distinction of having global footprints.

Today commanding a market leader position it is a global major providing Total Pipe Solutions to the ever-growing needs of the industry.

Jindal SAW Ltd. is the leading production hub of SAW Pipes primarily used for transportation of oil and gas. With integrated facilities at multiple locations Jindal SAW has diversified into a multi-product company, manufacturing large diameter Submerged Arc Welded pipes and spiral pipes and bends for energy transportation sector; Carbon, alloy and stainless steel Seamless tubes manufactured by conical piercing process for industrial application and Ductile Iron pipes for water and sewage transportation. Besides this Company provides value added products and services like anti-corrosion coatings for pipe and bends, induction bends and connector casings. ISO 9002, 14001, 18001 certification awarded bespeak of Company’ continued commitment to the welfare, safety and security of employees as well as the custodian of best business practices.