Jindal Saw reported a 50% decline in Q4 FY26 consolidated PAT to INR124 crores, missing expectations due to MENA conflict disruptions and a foreign exchange loss.
All export shipments to the MENA region are suspended since March 2026 due to force majeure, deferring high-margin revenue and impacting Q1 FY27.
The company is mitigating an API monogram suspension for seamless pipes and pursuing strategic expansions in Abu Dhabi and Saudi Arabia to derisk operations.
Management provided a FY27 capex guidance of INR500-600 crores and highlighted a robust, deleveraged balance sheet with a net debt of INR2,528 crores.