JINDALSTEL

1️⃣ Capacity Expansion Large capex and expansion projects expected to increase steel output significantly. Analysts expect strong volume growth till FY28. 2️⃣ Raw Material Integration Recently won iron-ore mines in Odisha, strengthening backward integration. 3️⃣ Steel Price Cycle Risk Recent quarter profit dropped ~80% due to lower steel prices and higher coal costs. 4️⃣ Government Policy Support Safeguard duty on steel imports can support domestic steel companies’ margins. Typical sector characteristics: Revenue: rising with infrastructure demand EBITDA margin: cyclical (steel price dependent) Debt: improving due to deleveraging plans