JINDAL STEEL & POWER LTD. Q1 FY26 Results

Summary

Jindal Steel's Q1 FY ’26 results show a 1% quarter-on-quarter decrease in production and a 10% decrease in sales volume. The consolidated gross revenue fell 8% quarter-on-quarter to Rs. 14,336 crores. The consolidated adjusted EBITDA for the quarter stood at Rs. 2,984 crores, and the consolidated PAT for the quarter stood at Rs. 1,496 crores. The company's net debt as at 30th June was Rs. 14,400 crores, leading to a net debt to EBITDA of 1.49x.

Key Highlights

1. 1

   India’s crude steel production grew 1% quarter-on-quarter to 40.6 million tonnes in Q1 FY ’26

2. 2

   Steel exports declined by 4% quarter-on-quarter to 1.6 million tonnes

3. 3

   India remained net importer of steel in Q1 FY ’26 for fifth consecutive quarter with 0.3 million tonnes of net imports

4. 4

   Chinese steel production continues to outpace its weak domestic demand, resulting in elevated exports impacting price globally

5. 5

   During the quarter, domestic HRC and TMT prices increased on a sequential basis

6. 6

   Production during quarter one was marginally down by 1% quarter-on-quarter to 2.09 million tonnes

7. 7

   Sales volume at 1.90 million tonnes was down 10% quarter-on-quarter

8. 8

   Consolidated gross revenue fell 8% quarter-on-quarter to Rs. 14,336 crores

9. 9

   Consolidated adjusted EBITDA for the quarter stood at Rs. 2,984 crores

10. 10

    Consolidated PAT for the quarter stood at Rs. 1,496 crores

11. 11

    Consolidated net debt as at 30th June was Rs. 14,400 crores

12. 12

    Company has won Roida - I iron ore and manganese block in Odisha

13. 13

    First 0.2 million tonnes continuous galvanizing line at Angul has been commissioned

14. 14

    Commissioning activity of Blast Furnace-2 has begun

15. 15

    Expect the Slurry Pipeline to be commissioned during the current fiscal year