Jindal Worldwide: consolidated PAT up 56% YoY to ₹18.6 Cr on textile margin gains

Jindal Worldwide's consolidated PAT rose 55.9% YoY to ₹18.57 Cr (₹11.91 Cr a year ago) on revenue of ₹594.88 Cr, up 3.8% YoY, lifting net margin to 3.12% from 2.08%. EPS came in at ₹0.19 against ₹0.12 a year ago. Standalone PAT was ₹16.96 Cr on revenue of ₹617.20 Cr — standalone revenue tops the consolidated figure because intercompany sales to textile subsidiaries are eliminated on consolidation; the ~₹1.6 Cr gap to consolidated PAT is explained by the associate-profit pickup below. The core textile segment, which still accounts for essentially all of group revenue, is the real driver: segment EBIT grew 21.6% YoY and 14.3% QoQ to ₹36.62 Cr on revenue up 3.5% YoY to ₹593.18 Cr, pointing to genuine operating improvement rather than a one-off. Consolidated PAT got an added lift from a ₹3.63 Cr share of profit from associates, up from ₹1.36 Cr a year ago, consistent with the Goodcore Spintex associate stake taken in August 2025 ramping up. Working against this, finance cost of ₹10.24 Cr was down 6.6% YoY but up 27.8% QoQ as borrowings increased to fund a build-up in working capital — inventories rose to ₹358.55 Cr and half-year operating cash flow was negative ₹114.17 Cr per the cash flow statement. Sequentially, PAT fell 42.7% QoQ from ₹32.41 Cr, but that Q1 base included an estimated ₹15.7 Cr one-off gain booked within the Electric Vehicles segment from the 45% stake sale in EV Volt Pvt Ltd (per note 6 to the results) — stripping that out, the underlying sequential trend is flat to improving, in line with the textile segment's own QoQ EBIT gain, not a genuine slowdown. No consensus or street estimates could be found for this quarter: public trackers show the stock carries minimal analyst coverage (a single outstanding rating, no revenue/profit estimates on record), so vsStreet is unknown; the company has also issued no formal guidance in our records, and no management press release accompanied this filing, so vsGuidance cannot be assessed either — both are being flagged as unknown rather than guessed. The quarter's corporate developments tie loosely to the print: the EV arm (Jindal Mobilitric) remains loss-making at ₹2.03 Cr, narrower than ₹2.13 Cr a year ago, on EV revenue that nearly quadrupled YoY (albeit off a tiny ₹0.43 Cr base) to ₹1.70 Cr — against this backdrop the company announced plans during the quarter to open 100 EV showrooms by FY28 and separately clarified that a volume surge was market-driven rather than channel-stuffing. The board also inducted two additional directors (one executive, one independent) on results day and issued a postal ballot to formalize four board appointments — governance items unrelated to this quarter's financial performance.