Jindal Saw Q1FY27 results: PAT falls sharply YoY despite revenue growth
JINDALSAW · price
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On the reaction day the stock moved 1.9 pts less than Nifty Smallcap 250 and 2.5 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Jindal Saw posted Q1FY27 (Apr-Jun 2026) standalone revenue of Rs 3,721 crores, up 12.8% YoY, but PAT fell about 70% to Rs 110 crores from Rs 364 crores in the year-ago quarter, which included a Rs 134 cr tax refund benefit. Consolidated revenue rose 9% to Rs 4,452 crores with PAT at Rs 91 crores. Operating margin compressed sharply from 12.5% to 5.1% YoY on standalone basis. Auditor Price Waterhouse highlighted subsidiary JITF's ongoing Rs 1,891 cr arbitral award appeal and its impact on JITF going concern; opinion was unmodified.
Revenue grew but profits dropped sharply due to higher input costs and a one-off tax benefit in base quarter. Watch JITF legal outcome as a key risk.