Credit Rating Of Jindal Steel Being Upgraded by CRISIL
Today, CRISIL has upgraded the credit rating of Jindal Steel and Power Limited to ‘Stable Outlook’. Few days ago, the credit ratings of the company were upgraded by CARE and ICRA.
The CEO of Jindal Steel and Power Limited, N A Ansari, has stated that the credit rating by three leading rating agencies CRISIL, ICRA and CARE clearly shows the growth promise of JSPL. The 5 MTPA integrated steel plant at Angul will be harnessed to optimal capacity utilization levels during this fiscal.
He went on saying that the JSPL is well poised to continue the superlative performance and growth curve during this fiscal.
In quarter 4 of 2018, JSPL has reported its highest ever steel production and for the year 2017-18 with the 5 million tonne per annum (mtpa) integrated steel plant at Angul getting fully commissioned.
JSPL has also posted a net profit of Rs. 145 crore and bounced back into black after 13 quarters. In the Q4 FY 2018 results reported yesterday, JSPL’s standalone EBIDTA saw a 66% rise on a year-on-year basis and clocked an EBIDTA margin of 26%, as the consolidated EBIDTA traced a growth of 38%.