Jindal Steel & Power Limited has informed the Exchange about Transcript
JINDALSTEL · price
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JSPL reported Q4FY25 production of 2.11 million tonnes (up 6% QoQ) and sales of 2.13 million tonnes (up 12% QoQ), with consolidated revenue of INR15,525 crores (up 13% QoQ). Adjusted EBITDA for the quarter stood at INR2,482 crores, translating to INR11,651 per tonne, while coking coal costs came in $11/tonne lower than guided. For full-year FY25, production rose 2% to 8.12 MT and sales 4% to 7.97 MT, with consolidated revenue of INR58,044 crores and adjusted EBITDA of INR9,570 crores. The company took a INR1,229 crore impairment on Australian assets and INR231 crore of one-time charges (old GST credits, aged advances, inventory cleanup). Net debt/EBITDA improved sharply from 1.40x to 1.26x, supported by INR3,146 crore working capital release during the year. For FY26, management guided crude steel production of 9-10 MT and sales of 8.5-9 MT, with coking coal costs expected $10-15/tonne lower in Q1. New Angul Blast Furnace 2 commissioning is underway (first hot metal in Q1FY26), BOF2 expected in Q2FY26, and slurry pipeline 82% complete.
The call reinforces growth visibility with FY26 volume guidance at the higher end of expectations and capacity expansion projects broadly on track. The clear commitment to keep net debt/EBITDA below 1.5x and the working capital improvement are positives for shareholders, though modest margin guidance and one-off charges dragged near-term earnings. The Indian government's 12% safeguard duty is expected to support flat product realisations, benefiting JSPL's increasing share of flats in its product mix.