JINDAL STAINLESS LTD.

Jindal Stainless Limited (JSL) announced its financial results for the quarter ended June 30, 2026 (Q1 FY27), reporting a resilient performance with net revenue at INR 11,279 crore, a 10.5% year-on-year increase. EBITDA stood at INR 1,329 crore, up 1.5% YoY, and Profit After Tax (PAT) rose by 7.6% YoY to INR 769 crore. Despite supply chain pressures and geopolitical disruptions, the company maintained healthy demand across key sectors like mobility, infrastructure, and manufacturing. Finished goods sales volume was 580,805 tonnes, a 7.3% decrease YoY. The company also highlighted sustainability efforts, including a 12% reduction in GHG emission intensity at its Hisar facility, and expanded its marketing initiatives.

Jindal Stainless Limited announced that its Board of Directors, in a meeting held on August 3, 2026, approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company confirmed that the results, along with the Limited Review Report, have been submitted. The financial results will be published in newspapers as per SEBI Listing Regulations. The meeting commenced at 12 Noon and concluded at 3:10 P.M.

Jindal Stainless posted consolidated Q1 FY27 revenue of ₹11,278.54 Cr, up 10.5% YoY but essentially flat sequentially (-0.5% vs ₹11,337.19 Cr), while consolidated net profit rose a more modest 7.6% YoY to ₹768.66 Cr and slipped 7.9% QoQ from ₹834.21 Cr. Profit growth trailing the topline is the quarter's signature: with no exceptional items on either side of the YoY comparison, the ~8% underlying PAT growth against ~10.5% revenue growth reflects genuine margin erosion, not an accounting artifact. The squeeze sits almost entirely on the power-and-fuel line, which jumped 74.8% YoY to ₹1,175.72 Cr from ₹672.53 Cr — the elevated fuel costs from geopolitical disruption that management explicitly flagged on the Q4 call, so on that count the print is on-track with prior guidance rather than a surprise. Consolidated operating margin compressed to 11.78% from 12.83% both a year ago and last quarter, and net margin eased to 6.82% from 7.00% YoY. Cushioning the fall, the share of profit from associates swung to +₹34.61 Cr from a -₹13.66 Cr loss a year earlier, tied to the ramp-up of the Indonesian operations. Standalone tells a softer story and diverges sharply from the group: standalone revenue rose just 3.3% to ₹10,676.55 Cr and standalone PAT actually fell 5.6% YoY to ₹605.89 Cr — so consolidated growth is being carried by subsidiaries and the newly consolidated Indonesian melt shop (PT Glory Metal), not the domestic parent. That >13-point gap in PAT growth between the two bases is real and worth noting. Against our pre-result preview, standalone revenue landed modestly above the ~₹10,500 Cr on-plan bar and PAT moderated YoY as expected, but the consolidated 11.78% operating margin slipped below the 12%+ threshold the street was debating as the bull case; formal Q1-specific consensus was thin and no external estimate surfaced. The quarter also carried corporate housekeeping: a CFO change (Kunjal Mehta appointed) and a further ₹23.41 Cr investment completing the ₹132 Cr commitment in the Oyster Green 282 MW hybrid renewable project. Structurally, PT Glory Metal — consolidated as a subsidiary through 30 June 2026 — reclassifies to an associate from 1 July 2026, which will alter the consolidation footprint from Q2. Management's H1 FY27 EBITDA/ton guidance of ₹18,000-20,000 and ₹2,600 Cr FY27 capex frame the near term: the fuel-cost pressure they warned of has landed, and the margin line is the number to watch as the year progresses. No management press release on the result was available for this record.

Jindal Stainless' Jajpur unit has been honored with three awards at the Total Quality Management (TQM) Convention 2026, organized by the Quality Circle Forum of India (QCFI). The awards recognize the unit's commitment to quality excellence, innovation, and operational efficiency. Teams from Steel Melt Shop (AOD), Hot Strip Mill, and Central Quality received Gold and Silver awards for projects focused on process optimization, defect reduction, and quality enhancement. These accolades underscore the unit's robust quality culture, driven by initiatives like Quality Circles, Lean Six Sigma, and Kaizen activities, involving over 2,000 employees.

Jindal Stainless' Hisar unit has received the Times Internet Ecopreneur Award 2026 for Lifetime Achievement in Sustainability. This award recognizes the company's ongoing commitment to decarbonization, resource efficiency, and responsible manufacturing. The Hisar facility has significantly improved its sustainability performance, increasing renewable electricity share to 67% in Q1 FY27 and achieving a 12% reduction in greenhouse gas emission intensity. It was also certified 'Zero Waste to Landfill' with a Platinum+ rating. The company is also registering with the Science Based Targets initiative (SBTi) to align with global climate goals. This recognition underscores Jindal Stainless' dedication to integrating sustainable practices and supporting India's green manufacturing transition.

Jindal Stainless Limited has announced that its Board of Directors will convene on August 3, 2026. The primary agenda item is to consider and approve the unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. Concurrently, the company confirmed the re-opening of its trading window on August 6, 2026, following its closure from July 1, 2026, in compliance with insider trading regulations.

Jindal Stainless has been honored with six awards at the 12th National Awards for Manufacturing Competitiveness (NAMC). The Hisar unit received a Gold Medal, AatmaNirbhar Nation Builder Award, and a Diamond Medal, alongside a 2nd Runner-Up position in overall rankings. The Mundra unit secured a Silver Medal and AatmaNirbhar Factory Recognition. These accolades recognize the company's commitment to digitalization, innovation, employee-led excellence, and operational efficiency across its manufacturing facilities. The awards highlight the successful implementation of strategic initiatives like TPM, Lean Manufacturing, and Industry 4.0.

Jindal Stainless has supplied approximately 40% of the stainless steel required for India's first hydrogen-powered train. The premium austenitic stainless steel grade X5CrNi1810, sourced from their Jajpur and Hisar plants, was used in the coach body fabrication. This initiative highlights stainless steel's suitability for cleaner, safer, and more energy-efficient mobility solutions, aligning with India's 'Atmanirbhar Bharat' vision. Managing Director Abhyuday Jindal emphasized the company's commitment to providing advanced material solutions for sustainable transportation infrastructure. Jindal Stainless has a long-standing relationship with Indian Railways, having supplied materials for various landmark projects.

Jindal Stainless' Hisar and Jajpur units have received multiple awards from the Confederation of Indian Industry (CII) for their achievements in energy efficiency and low-carbon initiatives. The Hisar unit was recognized for Best Energy Efficient Case Study and Best Case Study on Low Carbon/Carbon Neutral Initiative, implementing 112 projects over four years, reducing emissions by 584,903 tCO₂e. The Jajpur unit received accolades for its work under the BEE PAT/CCTS Scheme and ISO 50001 Energy Management System, implementing over 100 projects and reducing carbon emissions by 471,398 tCO₂e. These awards underscore the company's commitment to sustainable manufacturing and decarbonisation.

Jindal Stainless, a leading Indian stainless steel manufacturer, has appointed Mr. Kunjal Mehta as its new Chief Financial Officer (CFO), effective June 25, 2026. Mr. Mehta, a seasoned finance professional with over 25 years of experience in sectors including steel, power, and technology, will oversee the company's financial strategy, treasury, capital management, investor relations, and growth initiatives. His appointment follows board approval and is expected to bolster the company's financial stewardship and support its expansion plans. Mr. Mehta previously served as CFO at Adani Energy Solutions Limited and brings extensive experience in corporate finance and business transformation.