Jindal Stainless Limited has informed the Exchange about Transcript
JSL · price
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Awaiting price reaction for this filing.
Jindal Stainless reported Q1 FY26 sales volumes of 626,252 metric tons, up 8% year-on-year but flat sequentially. Q1 EBITDA rose 8% YoY and 23% QoQ to Rs. 1,310 crores, while profit after tax grew 11% YoY and 21% QoQ to Rs. 715 crores, supported by a richer product mix and higher cold-rolled volumes from the Chromeni subsidiary. Net debt fell to Rs. 3,869 crores with a comfortable net debt-to-EBITDA ratio of 0.81. Management reiterated full-year volume growth guidance of 9-10% and EBITDA per ton guidance of Rs. 19,000-21,000, and guided FY26 capex of Rs. 2,700 crores with Rs. 1,000-1,200 crores planned for FY27. Key projects including the HRAP line (H2 FY27), the Indonesia SMS project (FY27), and a 4 million-ton phased Maharashtra greenfield project (FY29-30 onwards) remain on track.
Strong quarterly print and reaffirmed guidance reinforce the domestic stainless steel demand story and could support the stock, but management's refusal to clarify the status of the promoter group's 2 million-ton blast furnace may leave a key growth and cost question unanswered for investors.