Jindal Stainless Ltd — earnings calls

Jindal Stainless reported consolidated revenue, EBITDA and PAT growth of 10.5%, 1.4% and 7.7% year-on-year in Q1 FY27, despite finished goods sales volume declining 7.3% due to industrial gas shortages and logistics disruption in the Middle East. Management said net debt reduced to Rs 2,950 crore with a net debt-to-EBITDA ratio of 0.53x. The company reiterated its existing volume and EBITDA-per-ton guidance for the first half of the year and said capex and downstream expansion projects at Jajpur, Hisar and Kharagpur remain on track.

Jindal Stainless reported Q4FY26 consolidated EBITDA of Rs 1,455 crore, up around 37% year-on-year, and consolidated PAT of Rs 834 crore, up around 41% year-on-year, with full-year FY26 deliveries of 2.57 million tons, up around 8%. Management said the Indonesian 1.2 million tons per annum melt shop was commissioned ahead of schedule, taking total melting capacity to 4.2 million tons per annum, and announced an additional Rs 900 crore commitment for cold rolling capacity at Hisar and Kharagpur. Management also guided to 7-9% volume growth and EBITDA per ton of Rs 18,000 to Rs 20,000 for the first half of FY27, citing cost pressure from gas and industrial fuel disruptions linked to the Middle East situation.