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Informist, Saturday, May 2, 2026

 

--Jindal Steel: Targetting 11.0-11.5 mtpa output for FY27 

--CONTEXT: Comments by Jindal Steel's mgmt in post-earnings analyst concall 

--Jindal Steel: Primary goal capacity utilisation, then pdt mix optimisation 

--Jindal Steel: Expect to complete slurry pipeline Odisha project by Jun qtr 

 

By Astha Oriel and Avishek Rakshit

 

NEW DELHI/KOLKATA – Bullish on steel demand trends, Jindal Steel Ltd. is targeting sales of 10.5-11.0 million tonnes in the ongoing financial year, a senior company official said Saturday. In 2025-26 (Apr-Mar), India's fourth largest steel producer had sold 8.68 million tonnes of crude steel.

  

"Steel demand in India is expected to remain reasonably strong, supported by infrastructure development and construction activity," the official said during the company's post-earnings conference call Saturday. The company had announced its results for the quarter and year ended March on Friday. 

 

"Steel prices have shown recovery in recent months and are expected to remain supportive in the near term, although raw fuel costs, particularly coking coal, may remain volatile. With that context, our production plan for FY27 is 11 to 11.5 million tonnes and sales between 10.5 to 11 million tonnes," the official said. In FY26, the company had produced 9.25 million tonnes of steel.

 

As Jindal Steel looks to ramp up its existing capacities, the company's primary goal is capacity utilisation, followed by product mix optimisation, the management said. It added that the steel major will continue to expand its value-added portfolio. "Along with that, we have the downstream facilities, which will actually add more capability and more niche products downstream, which will also add to our realisation and our value-addition programme and our ratios on that," the management said.

 

The company had earlier said it plans to use a slurry pipeline from the Barbil region to Angul in Odisha in order to reduce the logistics cost. Updating about this project, the management said the company plans to commission the slurry pipeline project by the end of the June quarter. However, its full utilisation is unlikely to happen in FY27, it said. The company aims to save INR 752,000 per tonne in terms of steel as it aims to ramp up the slurry pipeline. 

 

The company also plans to commission the second direct reduction plant in Oman by the end of FY27, the management said. 

 

For the March quarter, the company reported a consolidated net profit of INR 10.45 billion on a revenue of over INR 162 billion. Thursday, shares of Jindal Steel closed at INR 1.223.10, down 0.4%, on the National Stock Exchange.  End

 

Edited by Tanima Banerjee

 

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