Jindal Saw Limited has informed the Exchange about Transcript
JINDALSAW · price
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Jindal Saw reported a challenging Q4 FY26 with standalone PAT dropping 50% to INR114 crores compared to Q3, while full year FY26 PAT fell 58% to INR784 crores. The company attributed Q4 underperformance to suspended export shipments to MENA region (force majeure activated due to military conflict since March 2026), a 6 lakh metric ton Saudi Arabia job contract on hold, INR48 crores forex loss from rupee depreciation, and ongoing weakness in ductile iron pipe business. The API monogram suspension for carbon seamless pipes following an audit remains under resolution. Net debt was reduced to INR2,453 crores standalone. Management announced strategic expansions including a carbon seamless pipe plant in Abu Dhabi and an LSAW/HSAW joint venture in Saudi Arabia, while acknowledging unprecedented uncertainty and avoiding margin guidance.
The stock faces near-term pressure from geopolitical disruptions in MENA region affecting export revenues and margin pressure from lower capacity utilization in ductile iron pipes. However, the company's deleveraged balance sheet and strategic regional expansions position it for recovery once the MENA situation stabilizes.