Equity Analyst

Gihan Bandara

Analyst at LightStream Research covering Asian equities, along with thematic research.

JSW Steel: Upward Capex Revision Does Not Matter

TATA Steel Could Retake Capacity Crown as 20% of Indian Steel Capacity up for Grabs

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<p>JSW Steel released its earnings for FY03/18 and 4QFY03/18 on 16 May beating both our forecasts and consensus estimates in terms of revenue and net profit. It generated revenue of INR700bn (+18.4% YoY) and OP of INR115.7bn (+22.6% YoY) mainly because of an increase in production, market share and favorable raw material and steel prices. During the period, hot rolled steel prices increased from USD 600 per ton levels to USD 900 per ton levels and iron ore prices decreased by almost 23% from USD 88…</p>

JSW Steel released its earnings for FY03/18 and 4QFY03/18 on 16 May beating both our forecasts and consensus estimates in terms of revenue and net profit. It generated revenue of INR700bn (+18.4% YoY) and OP of INR115.7bn (+22.6% YoY) mainly because of an increase in production, market share and favorable raw material and steel prices. During the period, hot rolled steel prices increased from USD 600 per ton levels to USD 900 per ton levels and iron ore prices decreased by almost 23% from USD 88…

JSW Steel Earnings Release FY03/18 – Three All-Time Highs in a Row

JSW Steel Ltd

JSW Steel Earnings Release FY03/18 – Three All-Time Highs in a Row