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Informist, Tuesday, Oct. 28, 2025

 

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--Jindal Steel Jul-Sept consol net profit INR 6.38 bln
--Analysts saw Jindal Steel Jul-Sept consol net profit at INR 6.31 bln
--Jindal Steel Jul-Sept consol revenue INR 116.86 bln
--Analysts saw Jindal Steel Jul-Sept consol revenue at INR 110.55 bln
--Jindal Steel Jul-Sept consol PAT INR 6.38 bln vs INR 8.61 bln year ago
--Jindal Steel Jul-Sept consol revenue INR 116.86 bln vs INR 112.13 bln
--Jindal Steel Apr-Sept consol PAT INR 21.32 bln vs INR 22.01 bln year ago
--Jindal Steel Apr-Sept consol revenue INR 239.8 bln vs INR 248.3 bln yr ago
--Jindal Steel appoints Gautam Malhotra as CEO from Tuesday
--Jindal Steel Jul-Sept consol adjusted EBITDA INR 18.75 bln vs INR 21.24 bln
--Jindal Steel Jul-Sept consol steel sales 1.87 mln tn vs 1.85 mln tn yr ago
--Jindal Steel Jul-Sept consol steel production 2 mln tn vs 1.97 mln tn
--Jindal Steel consol net debt INR 141.56 bln Sept 30 vs INR 144 bln qtr ago
--Jindal Steel Jul-Sept total capex INR 26.99 bln

 

By Avishek Rakshit

 

MUMBAI – Sluggish steel prices and increase in raw material costs led Jindal Steel Ltd. to report a nearly 26?ll in its consolidated net profit for the September quarter, even though it was able to maintain its sales volume under tepid demand conditions.

 

Jindal Steel reported just 1% on year increase in sales volume for the three months ended September to 1.87 million tonnes, which led to a consolidated top line growth of a little over 4% on year to INR 116.9 billion. However, expenses increased as well and the consolidated net profit for the quarter under review declined by nearly 26% on year to INR 6.4 billion. On a trailing basis, the revenue declined nearly 5% and the profit fell over 57%.

 

However, the company's top line outperformed the Street's expectations of INR 110.5 billion and the profit was in line with the estimates of INR 6.3 billion. 

 

While steel production increased by 1.5% on year to 2 million tonnes, the company's raw material costs went up by over 16% on year to nearly INR 53 billion. The stock-in-trade increased 52% on year to a little over INR 4 billion and employee benefit expenses increased 17% on year to INR 3.2 billion. Finance costs shot up nearly 14% on year to INR 3.7 billion. As a result, the company's total expenses in the quarter under review increased nearly 7% on year to over INR 107 billion, which outpaced the revenue growth.

 

The company's adjusted earnings before interest, tax, depreciation, and amortisation fell nearly 12% on year to INR 18.8 billion.

 

Jindal Steel's consolidated net debt decreased marginally by 1.7% on a sequential basis to INR 141.6 billion and net debt to EBITDA was 1.48 times as at September-end compared to 1.49 times as on June-end of the current financial year. The company's total capital expenditure for the September quarter was nearly INR 27 billion primarily on account of the expansion projects at Angul.

 

During the September quarter, Jindal Steel commissioned the country's second-largest blast furnace — Bhagavati Subhadrika BF-II at Angul in Odisha with a rated capacity 4.6 million tonnes per annum which more than doubled the plant's hot-metal production capacity to 8.85 million tonnes from 4.25 million tonnes.

 

The company also commissioned the 3 million tonne basic oxygen furnace at the same plant, which increased the crude steel capacity at the production facility to 9 million tonnes from the earlier 6 million tonnes. The commissioning of this furnace also increased the total steelmaking capacity to 12.6 million tonnes from 9.6 million tonnes.

 

The Angul plant remains on track to reach 12 million tonnes of total rated capacity and to take overall steelmaking capacity to 15.6 million tonnes within the current financial year, Jindal Steel said in a statement.

 

For Apr-Sept, Jindal Steel's consolidated net profit declined 3% on year to INR 21.3 billion and consolidated sales fell 3.4% on year to INR 21.3 billion.

 

The company's board Tuesday appointed Gautam Malhotra as the chief executive officer effective Oct. 28. Malhotra has been associated with the company since May 2024 and has worked closely in areas like mining, production, human resources, logistics, technology, artificial intelligence adoption and sales.

 

Over the past year and a half, Malhotra played a pivotal role in strengthening the company's commercial value chain along with sales and marketing, logistics, information technology, and human resources management. He has been particularly focussed on sales generation, go-to-market strategy, logistics support, and human resource development for the commercial function, the company said in a notice to the bourses.

 

On Tuesday, shares of Jindal Steel closed nearly 4% higher at INR 1,073.50 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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