Jindal empire heir eyes $8 bn market for cement
Parth Jindal, son of industrialist Sajjan Jindal, who took charge of emerging businesses at the $14-billion JSW Group three years ago, is busy scaling up the consumer-driven arms of cement and paints to take their combined market capitalisation to $8 billion on a par with the flagship JSW Steel, led by his father.
He said that steel trades at 7-8 times price to earning multiples, cement at 35 times and paints at 60 times price to earning multiples. I just need to make one-sixth of the profit that dad makes. JSW Cement and JSW Paints will have a market capitalisation in excess of $4 billion each.
Mr. Parth Jindal has plans to scale up JSW Cement capacity to 25 MTPA from 14 MTPA now and then call for an IPO to take the capacity to 35 MTPA to figure among the top five cement players.In May, JSW Group has forayed into the ₹42,000-crore organised paints business with the launch of JSW Paints and aims to be among the top three players in the next five years.