Jindal Stainless Limited submitted its Q2 & H1 FY27 earnings presentation to BSE Limited and National Stock Exchange of India Ltd. pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015. The document was signed by Navneet Raghuvanshi, Head-Legal, Company Secretary & Compliance Officer, and digitally dated 22nd October 2026 at 19:33:55 IST.

Financial Performance (Consolidated)

Q2 FY27 Results:

  • Revenue from operations: ₹12,874 crore, up 18% YoY (vs. ₹10,893 crore in Q2 FY26)
  • EBITDA: ₹1,433 crore, up 3% YoY (vs. ₹1,388 crore in Q2 FY26)
  • PAT: ₹898 crore, up 11% YoY (vs. ₹808 crore in Q2 FY26)
  • Sales volume: 664 KT, up 3% YoY
  • Other income: ₹134 crore
  • Finance cost: ₹165 crore
  • Depreciation: ₹299 crore
  • Exceptional gain: ₹116 crore
  • Share of loss from associates: ₹18 crore
  • PBT: ₹1,201 crore, up 11% YoY
  • Tax: ₹303 crore

H1 FY27 Results:

  • Revenue from operations: ₹24,152 crore, up 14% YoY (vs. ₹21,100 crore in H1 FY26)
  • EBITDA: ₹2,762 crore, up 2% YoY (vs. ₹2,698 crore in H1 FY26)
  • PAT: ₹1,666 crore, up 9% YoY (vs. ₹1,523 crore in H1 FY26)
  • Sales volume: 1,245 KT
  • Other income: ₹252 crore
  • Finance cost: ₹311 crore
  • Depreciation: ₹601 crore
  • Exceptional gain: ₹116 crore
  • Share of profit from associates: ₹17 crore
  • PBT: ₹2,235 crore, up 9% YoY
  • Tax: ₹568 crore

Debt Position (As of September 2026)

  • Long-term debt: ₹4,839 crore
  • Short-term debt: ₹2,135 crore
  • Total debt: ₹6,975 crore
  • Cash & bank balances: ₹3,854 crore
  • Net debt (bank and financial institutions only): ₹3,121 crore (vs. ₹3,040 crore in March 2026)
  • Net debt/Equity: 0.15x
  • Net debt/EBITDA: 0.55x
  • CARE ratings: Long-term borrowings upgraded to AA+ (Stable) from AA; Short-term borrowings reaffirmed at A1+

Business Highlights

  • Developed India's first high-aluminium stainless steel grade for catalytic converters
  • Signed Technical Assistance Agreement with JFE Steel, Japan to strengthen ferritic grades
  • Achieved 12% reduction in GHG Emission Intensity (Scope 1+2) from 1.76 tCO2/tcs in FY26 to 1.55 tCO2/tcs in Q2 FY27
  • Jindal Saathi Loyalty Programme crossed 1.3 lakh members (19,000+ retailers, 1.13 lakh+ fabricators) with 7 lakh+ QR scans monthly
  • Stainless Academy recognized as Awarding Body by NCVET (MSDE)
  • Conducted 205 Fabricator Training Programmes in Q2'27, reaching 12,165 independent fabricators

Market Update

Management commentary highlighted resilient domestic demand supported by robust economic growth. Sector-wise outlook:

  • Process Industry: Oil & Gas and Power segments face headwinds from fuel disruptions; growth expected from Chemicals, Fertilizers, Hydroelectric, Dairy, and Thermal Power Plants
  • Automotive: Resilient demand despite global supply chain disruptions; positive FY27 outlook
  • Railways: Healthy metro project demand; wagon demand impacted by tender process slowdown
  • Infrastructure: Rising usage in flyovers, ROBs, FOBs; strong outlook in coastal regions
  • Pipes & Tubes: Increased demand for ornamental and industrial pipes and tubes

Scheme of Amalgamation

The company proposed a scheme to amalgamate four wholly-owned subsidiaries:

1. Jindal United Steel Limited (JUSL) - 3.2 MTPA hot rolling and 0.2 MTPA cold rolling in Jajpur, Odisha

2. Chromeni Steels Limited (CSL) - 0.6 MTPA cold rolling mill in Mundra, Gujarat

3. JSL Super Steel Limited (JSL-SSL) - 0.18 MTPA stainless steel long products in Ghaziabad, UP

4. Rabirun Vinimay Private Limited (RVPL) - Polishing lines and cold rolling mill in Kharagpur, West Bengal

Purpose: Simplify group structure, eliminate inter-company transactions, optimize resource utilization, improve operational efficiency, reduce administrative costs, and strengthen corporate governance.

Investor Relations Contact

Angad Khurana, Head - Investor Relations

Tel: +91 11 4146 2157

Company Background

Jindal Stainless is India's leading stainless-steel manufacturer with annual turnover of ₹42,955 crore (USD 4.86 billion) in FY26 and annual melt capacity of 4.2 million tonnes. Has 16 manufacturing and processing facilities in India and abroad, including Spain and Indonesia, with worldwide network in 12 countries.