More Stories

Informist, Saturday, Jan. 31, 2026

 

Please click here to read all liners published on this story

--Jindal Steel: Expect Q4 to be stronger in terms of prices, production
--Jindal Steel: Don't see any material increase in input costs during Q4
--Jindal Steel: To commission slurry pipeline by FY26-end
--Jindal Steel: On track to meet 8.5-9 mln tn sales guidance for FY26
--Jindal Steel: Shifting product-mix to 50% long, 50% flat products
--Jindal Steel: Angul plant on track for commissioning in Jan-Mar
--Jindal Steel:Oct-Dec actual coal consumption cost up $2/tn vs $2-$3 guided
--CONTEXT: Comments by Jindal Steel mgmt in post earnings analyst call
--Jindal Steel:FY26 capex at INR 329.25 bln so far vs planned INR 470.43 bln
 

 

By Sunil Raghu and Suryash Kumar

 

MUMBAI - Jindal Steel Ltd. expects Jan-Mar to be stronger in terms of production volumes and prices of steel, as it expects no material rise in input costs during the quarter and because of the commissioning of expanded capacity, the company's management told analysts in a post-December quarter earnings call Saturday. The management added that the Angul plant in Odisha and the slurry pipeline remain on track for commissioning before Mar. 31, 2026. 

 

The company has spent INR 329.25 billion in capital expenditure for the first 10 months of 2025-26 (Apr-Mar), as against the total announced capital expenditure of INR 470.43 billion for FY26. For Oct-Dec, the company incurred a capital expenditure of INR 20.76 billion. "As we ramp up towards full capacity, our first target will be capacity utilisation. And once we reach high numbers of utilisation is when we start changing the portfolio back again towards value added products," the company's management said. "This financial year marks an inflection point in our transformational journey."

 

On Friday, the company reported a consolidated net profit of INR 1.90 billion for the December quarter, sharply down from INR 9.50 billion in the year-ago quarter. The company's total consolidated revenue from operations rose 11% to INR 130.27 billion, from INR 117.51 billion in the year-ago quarter. Total sales grew in double digits, both on quarter and on year. Analysts had expected the company's revenue to come in at INR 129.52 billion. 

 

The company's steel production in Oct-Dec came in at 2.51 million tonnes, compared to 2.00 million tonnes a quarter ago, even as its sales during the quarter was up at 2.28 million tonnes, from 1.87 million tonnes in the September quarter.

 

On costs, Jindal Steel's management said the actual coal consumption cost was up only $2 per tonne, much lower than its earlier guidance of $2-$3 per tonne rise in Jul-Sept. The steel maker said its current product mix has shifted to a 50:50 split between long and flat steel products due to a ‘major' decline in flat products. Jindal Steel currently has a capacity of around 9.6 million tonnes, and expects its annual steel-making capacity to rise to 15.6 million tonnes onces it completes expansion.

 

The company's consolidated net debt on Dec. 31 stood at INR 154.43 billion, up INR 12.87 billion from Sept. 31.

 

On Friday, the company's shares ended 2.38% lower at INR 1,132 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.