International Steels

International Steels Limited. International Steels Limited is a producer of flat steel products. The Company manufactures cold rolled steel coils, galvanized coils and color coated steel. Its cold rolled steel is available in thicknesses ranging from 0.25 millimeter (mm) to 3.0 mm; galvanized steel is available in thicknesses of 0.25 mm to 2.0 mm, and color coated steel is available in thickness range of 0.20 to 1.50 mm. Its rolling capacity is 500,000 metric tons (MT). It produces approximately 400,000 MT of galvanized products. It produces color coated sheets on various substrates, including cold rolled, galvanized, galvalume, aluminum and stainless steel sheets. Its cold rolled steel offers applications, such as ceiling lights, tube lights, ceiling fans, oil drums, lube drums and motor cycle frame; galvanized steel has applications, such as packaging, furniture, washing machines, gas ovens and microwave ovens, and color coated steel offers applications, such as ice boxes, tubs, buckets and storage bins.
  • TickerISL
  • ISINPK0102001010
  • ExchangePakistan Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryPakistan

Analysts

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior

Ahmed Raza

Pakistan (IMS): International Steels Ltd Q1 FY 20 results – higher finance cost leads to earnings miss

International Steels Ltd (ISL) posted Q1 FY 20 NPAT of PKR348mn (EPS: PKR0.80), down 59% yoy but up 14% qoq. This came in below our expected NPAT of PKR441mn (EPS: PKR1.01), due to a significantly higher finance cost. On pre-tax basis, profits have declined on quarterly basis as well, by 65%.

Ahmed Raza

Pakistan (IMS): International Steels Q1 FY 20 preview – lower volumes/margins to hurt profit

We expect International Steels (ISL) to post Q1 FY 20 NPAT of PKR441mn (EPS: PKR1.01), down 48% yoy, but up 45% qoq. However, on pre-tax basis, earnings will decline by 29% sequentially (PKR610mn) during Q1 FY 20, in our view. Reasons include:

Ahmed Raza

Pakistan (IMS): International Steels Ltd – take some cash off the table; downgrade to Neutral

We downgrade our stance on ISL to Neutral from Buy with an unchanged TP of PKR50/sh. We see more volume decline in FY 20 due to a manufacturing slowdown (particularly in the auto sector) and implication of SRO-641 on sales to the pipe-making industry.

Ahmed Raza

Pakistan (IMS): International Steels Ltd – FY19 analyst briefing takeaways

In FY19, ISL increased its revenues to PKR55bn, up 16% yoy but NPAT came down by 39%yoy to PKR2.7bn (EPS: PKR6.12) due to PKR depreciation and higher finance cost. During FY19, company sold 525k tons of flat steel, down 3%yoy. ISL more than doubled its capacity to 1.0mn tons per annum. It is also setting up a service centre in Karachi which will commence operations in 3QFY20. The service center will be used to supply value added products, particularly for the auto sector.

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior