JINDAL STEEL LIMITED has submitted to the Exchange, the financial results for the period ended March 31, 2026.
JINDALSTEL · price
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Jindal Steel Limited reported standalone revenue of Rs 54,023 crore for FY2026, up 10.7% from Rs 48,818 crore in FY2025. However, standalone net profit declined 15% to Rs 3,074 crore due to a Rs 1,433 crore write-off of loans to its loss-making Mauritius subsidiary (JSML), which has accumulated losses of Rs 6,966 crore and negative net worth. On a consolidated basis, net profit grew 18% to Rs 3,361 crore. The company recommended a final dividend of Rs 2 per share (200%). Auditors issued unmodified opinions but flagged going concern uncertainty for JSML in an emphasis of matter paragraph.
Despite revenue growth, the large loan write-off and subsidiary going concern issues may concern short-term investors, though the dividend announcement and consolidated profit growth provide some support. The Rs 1,433 crore write-off significantly impacted standalone profitability.