KIFS Result update of JSW Steel-Shoppers Stop

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 KIFS Result update of:

JSW STEEL

OVERVIEW

JSW Steel is part of the $3.7 billion diversified conglomerate JSW Group. JSW Steel is one of the largest Indian private sector steel companies. It manufactures wide range of products such as hot rolled steel, cold rolled steel, galvanised steel and pre-painted galvanised steel.  The management has informed that shipments from Chile have started with one consignment left shipped in the month of April. The company still targets to sell 1 mt of iron ore from Chile in FY12. JSW Shoppe, the company’s retail outlets increased to 280 from 174 a year ago. Sales through the Shoppe also increased 77% YoY to 1.12 mt.

 Key highlights:

· Total income  grew by 51% Y-o-Y to Rs. 7069 cr. v/s Rs. 4680 cr in June-10

· Operating Profit grew by 36% Y-o-Y to Rs. 1411 cr.  v/s Rs. 1038 cr in June-10

· OPM fell by 194 bps Y-o-Y to 18.5%  v/s 20.4% in June-10

· Net profit grew by 65% Y-o-Y to Rs. 578 cr.  v/s Rs. 350 cr in June-10

· NPM grew by 68 bps Y-o-Y to 7.6%  v/s 6.9% in June-10

SHOPPERS STOP

OVERVIEW

Shopper's Stop is largest chain of department stores at present in India. The company has a 19% stake in Hypercity Retail (India). The company’s subsidiary Gateway Multichannel Retail (India) has introduced the concept of catalogue stores, call and collect stores, internet retail website and telephone orders. SSL added 0.3 million sq ft taking its total retail area to 3.4 million sq ft. In FY12, the company plans to add 10 departmental stores, eight Crossword stores, three Home Shop outlets and three Hyper City stores. 

Key highlights:

· Total income  grew by 14% Y-o-Y to Rs. 393 cr. v/s Rs. 344 cr in June-10

· Operating Profit grew by 20% Y-o-Y to Rs. 30 cr.  v/s Rs. 25 cr in June-10

· OPM grew by 35 bps Y-o-Y to 7.7%  v/s 7.3% in June-10

· Net profit grew by 17% Y-o-Y to Rs. 12 cr.  v/s Rs. 10 cr in June-10

· NPM grew by 5 bps Y-o-Y to 2.97%  v/s 2.92% in June-10

Thanks and Regards,

KIFS Research