Key Quantitative Figures

Financial Results (Consolidated) - Q1 FY27 (Quarter ended June 30, 2026):

  • Gross Revenue: ₹17,834 crore (includes GST and Other Income)
  • Net Revenue: ₹15,501 crore
  • Adjusted EBITDA: ₹2,667 crore (adjusted for one-off FX loss of ₹6 crore)
  • Depreciation & Amortization: ₹926 crore
  • Finance Cost (Net): ₹548 crore
  • Profit Before Tax: ₹1,205 crore
  • Profit After Tax: ₹844 crore
  • Steel Production: 2.40 MT
  • Steel Sales: 2.23 MT
  • Value-Added Steel (VAS) share: 66%
  • Export share: 9%
  • Net Debt: ₹15,927 crore as of June 30, 2026
  • Net Debt/EBITDA: 1.71x
  • Total Capex for quarter: ₹1,959 crore

Financial Results (Standalone) - Q1 FY27:

  • Gross Revenue: ₹17,565 crore
  • Net Revenue: ₹15,292 crore
  • Profit Before Tax: ₹1,474 crore
  • Profit After Tax: ₹1,086 crore

Comparative Figures (Consolidated):

  • Q4 FY26 Gross Revenue: ₹19,399 crore
  • Q1 FY26 Gross Revenue: ₹14,336 crore
  • Q4 FY26 PAT: ₹1,041 crore
  • Q1 FY26 PAT: ₹1,496 crore

Management Appointments (Effective July 24, 2026)

Vidya Rattan Sharma - Additional Director and Managing Director

  • Term: 2 years from July 24, 2026
  • Qualifications: Mechanical Engineering degree, MBA from College of Applied Science, UK
  • Experience: 40 years in steel, power, metal and cement sectors
  • Previous roles: MD of Jindal Steel (2019-2022), Deputy MD & CEO (2010-2014), Group CEO of AK Steel/KTM Group (2014-2019)
  • Not related to any Director or KMP of the Company
  • Subject to shareholder approval

Sandeep Modi - Chief Financial Officer

  • Chartered Accountant with two decades of experience in metals, mining, and power sectors
  • Previous roles: CFO of Hindustan Zinc Limited, CFO of Bharat Aluminium Company Limited, CFO of Talwandi Sabo Power Limited
  • Also authorized to determine materiality of events for stock exchange disclosures under Regulation 30(5)
  • Contact: +91-1141462000, sandeep.modi@jindalsteel.in
  • Not related to any Director or KMP

Rajiv Kumar - Chief Operating Officer (Senior Management Personnel)

  • Metallurgical Engineer from BIT Sindri with 35+ years experience
  • Previous roles: CEO of Vedanta Aluminium, Vice President - Operations at Tata Steel Kalinganagar
  • Will oversee all steel business operations including plants and mining operations

Sukhjit S. Pasricha - Head Human Resources (Senior Management Personnel)

  • MBA in HR from Guru Nanak Dev University
  • 30 years experience including Group CHRO at IndiGo, HR roles at Kotak Mahindra Bank, Bajaj Finance, Airtel

Cessation

  • Mr. Sunil Agrawal stepped down as Interim CFO but continues overseeing Finance function

Statutory Auditor Appointment

  • S S Kothari Mehta & Co. LLP appointed as Statutory Auditors
  • First term of 5 years from conclusion of 47th AGM till conclusion of 52nd AGM
  • Subject to shareholder approval
  • Replaces Lodha & Co LLP who completed their second term

Subsidiary Information

  • Jindal Steel (Mauritius) Limited: Equity investment of ₹575.73 crore (fully provided), outstanding loan balance of ₹4,641.94 crore including interest
  • Accumulated losses of ₹3,016.48 crore and negative net worth of ₹1,430.29 crore as of June 30, 2026
  • Statutory auditors included emphasis of matter on going concern without modifying audit opinion for FY 2025-26
  • Financial statements prepared on going concern basis based on continued support from parent company

ESOP Scheme

  • Jindal Steel Employee Benefit Scheme 2022 implemented through Jindal Steel Employee Benefit Trust
  • 6,42,168 stock options granted till June 30, 2026 (net of 35,466 forfeited)
  • ESOP expense for Q1 FY27: ₹5.15 crore (standalone), ₹5.36 crore (consolidated)
  • Trust sold 3,54,962 equity shares not backed by ESOP grants during quarter, realizing net gain of ₹15.60 crore
  • 14,73,568 treasury shares remain as of quarter end

Additional Information

  • Credit rating upgraded to CARE AA+
  • Dispatch from Utkal B1 mines commenced
  • Limited Review Report provided by Lodha & Co LLP (Firm Registration no. 301051E/E300284)
  • Results available on company website: www.jindalsteel.in