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Informist, Monday, May 4, 2026

 

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--Jindal Stainless Jan-Mar net profit INR 8.92 bln vs INR 9.25 bln year ago 
--Analysts saw Jindal Stainless Jan-Mar net profit INR 8.53 bln 
--Jindal Stainless Jan-Mar revenue INR 108.26 bln vs INR 107.86 bln year ago 
--Analysts saw Jindal Stainless Jan-Mar revenue INR 108.08 bln
--Jindal Stainless to pay INR 3 per share final dividend 
--Jindal Stainless Jan-Mar net profit includes one-time income INR 1.82 bln 
--Jindal Stainless FY26 net profit INR 28.43 bln vs INR 27.11 bln year ago 
--Jindal Stainless FY26 revenue INR 426.80 bln vs INR 401.82 bln year ago

 

By Afra Abubacker

 

NEW DELHI – Jindal Stainless Ltd. reported a year-on-year decline in its bottom line for the March quarter amid subdued sales volumes. This was the first year-on-year decline in the company's net profit since the third quarter of the financial year 2024-25 (Apr-Mar).

 

The stainless-steel maker's standalone net profit for the March quarter declined 3.6% on year but rose 34% on quarter to INR 8.92 billion, including a one-time income of INR 1.82 billion. Analysts had expected the company to report a net profit of INR 8.53 billion.

 

The company's revenue rose 0.4% on year and nearly 2% on quarter to INR 108.27 billion, in line with the Street's expectation of INR 108.08 billion.

 

During the quarter, the company's finished goods standalone sales volume fell slightly on year and 1.2% on quarter to 641,743 tonnes. However, in FY26, the sales volume rose over 8% to 2.57 million tonnes. The company aims to achieve annual sales of around 3.5 million tonnes by FY29, Jindal Stainless said in a press release.

 

The company's total income during the March quarter was INR 109.51 billion, down nearly 2% on year but up by roughly the same quantum on quarter. The total expenses also declined nearly 2% on year but rose by 2% on quarter to INR 100.18 billion.

 

The company's earnings before interest, tax, depreciation, and amortisation rose nearly 25% on year and barely 1% sequentially in the March quarter to INR 11.11 billion. For FY26, the EBITDA rose 10.7% to INR 43.22 billion. 

 

The company commissioned a stainless steel melt shop with a capacity of 1.2 million tonnes per annum in Indonesia through its joint venture ahead of schedule, taking its total melting capacity to 4.2 million tonnes per annum, Jindal Stainless said. It had also invested an additional INR 9 billion towards augmenting cold-rolled capacities in India.

 

On the sales mix, the company's domestic sales share declined to 93% in the March quarter from 95% in the year-ago quarter, while exports grew to 7% from 5%. For FY26, the company's domestic sales share was 92%, up from 91% in FY25.

 

"Jindal Defense and Aerospace, Jindal Stainless' strategic arm, secured its first commercial order for a leading aerospace manufacturer for the supply of low alloy steel for Small Satellite Launch Vehicles," the company said. 

 

The company has decided to pay a final dividend of INR 3 per share for FY26, subject to shareholders' approval, taking the total dividend payment to INR 4 per share. "The consolidated net debt-to-equity ratio has further improved to 0.15 vs 0.24 last year," the company said. 

 

For FY26, the company's net profit rose nearly 5% to INR 28.43 billion and revenue rose over 6% to INR 426.80 billion. Robust domestic demand and rising stainless steel adoption across sectors such as infrastructure, electric vehicles, containers, and real estate supported its earnings, the company said.

 

"Looking ahead, our focus will be on leveraging our capacity enhancement and downstream expansion to expanding applications, maintaining cost efficiencies, and manufacturing excellence...," Managing Director Abhyuday Jindal said in the release.

 

Meanwhile, the company urged the government to protect the industry from cheap imports. "The domestic stainless steel industry continues to operate in a challenging environment caused by the Middle-East (West Asia) crisis and India's liberal trade policies," the managing director said. "Concerns over cheap, substandard imports remains and on behalf of the industry, we continue to advocate for a strong policy framework to curb unfair imports and safeguard the long-term interests of the domestic stainless steel industry."

 

Monday, the Jindal Stainless stock ended 1.4% higher at INR 778.40 on the National Stock Exchange. The company released its financial results after market hours.  End

 

Edited by Rajeev Pai

 

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