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Informist, Friday, Jul. 24, 2026

 

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--Jindal Steel Apr-Jun consol net profit INR 8.45 bln
--Analysts saw Jindal Steel Apr-Jun consol net profit at INR 10.47 bln
--Jindal Steel Apr-Jun consol revenue INR 154.82 bln
--Analysts saw Jindal Steel Apr-Jun consol revenue at INR 139.04 bln
--Jindal Steel Apr-Jun consol PAT INR 8.45 bln vs INR 14.94 bln year ago
--Jindal Steel Q1 consol revenue INR 154.82 bln vs INR 122.94 bln yr ago
--Jindal Steel appoints Vidya Rattan Sharma as MD for 2 years
--Jindal Steel appoints Sandeep Modi as CFO, Rajiv Kumar as COO
--Jindal Steel Q1 consol cost of material INR 77.4 bln vs INR 53.9 bln yr ago
--Jindal Steel Q1 consol adjusted EBITDA INR 26.7 bln vs INR 29.8 bln yr ago
--Jindal Steel Apr-Jun consol steel sales 2.23 mln tn vs 1.90 mln tn yr ago
--Jindal Steel Q1 consol steel production 2.40 mln tn vs 2.09 mln tn yr ago
--Jindal Steel consol net debt INR 159.27 bln on Jun 30
--Jindal Steel consol net debt INR 159.27 bln Jun 30 vs INR 160.19 bln Mar 31
--Jindal Steel Apr-Jun total capex INR 19.59 bln
 

 

By Adhithya Aji

 

MUMBAI – A substantial rise in the cost of raw materials led Jindal Steel Ltd. to post a sharp fall in its June quarter net profit. The cost of the company's raw materials rose to its highest level in four years. The steelmaker's net profit failed to meet analysts' estimate though revenue surpassed expectations.

 

For the June quarter, the company reported a consolidated net profit of INR 8.45 billion, down over 43% on year and below the Street's consensus expectation of INR 10.47 billion. The consolidated revenue from operations rose nearly 26% on year to INR 154.82 billion, sharply above analysts' expectations of INR 139.04 billion. Sequentially, the bottom line was down over 19% and the top line fell over 4%.

 

The total expenses in the June quarter rose nearly 39% on year to INR 142.96 billion. Of this, the cost of raw materials rose nearly 44% on year to INR 77.42 billion. Other expenses also rose 25% on year to INR 48.92 billion. Raw materials accounted for more than half the total expenses.

 

Jindal Steel's depreciation and amortisation expenses rose over 28% on year to INR 9.26 billion. Purchases of stock-in-trade were at INR 5.06 billion, up over 11% on year. The company's total income for the quarter rose nearly 26% on year to INR 155.01 billion. The steel company's consolidated earnings before interest, tax, depreciation, and amortisation for the reporting quarter fell nearly 11% on year to INR 26.67 billion for Apr-Jun.

 

The consolidated steel sales for the quarter were at 2.23 million tonnes against 1.90 million tonnes reported in the corresponding quarter a year ago. Production of the metal was at 2.40 million tonnes against 2.09 million tonnes a year ago. Sequentially, steel sales and production were down 15% and 10%, respectively. "Production and sales were impacted by planned maintenance shutdowns across key facilities during the quarter," Jindal Steel said in a press release.

 

Jindal Steel's net debt was INR 159.27 billion as of Jun. 30, against INR 160.19 billion at the same time last year. The company spent a total of INR 19.59 billion on capital expenditure for the quarter.

 

The company's adjusted EBITDA per tonne for the quarter fell nearly 24% on year to INR 11,937. Jindal Steel's net debt-to-EBITDA was 1.71 times, against 1.49 times in the same period last year. The company said raw material costs for the quarter rose on account of higher coking coal costs, while other operating costs gained on the back of lower fixed cost absorption from lower volumes. 

 

Jindal Steel appointed Vidya Rattan Sharma as managing director for two years and Sandeep Modi as chief financial officer. The company also appointed Rajiv Kumar as chief operating officer. All these appointments are with effect from Friday. 

 

The company detailed its June quarter earnings after market hours Friday. Its shares ended at INR 1,035.80 on the National Stock Exchange, down 0.6% from Thursday.  End

 

Edited by Rajeev Pai

 

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