Jindal Steel & Power Limited has informed the Exchange about Transcript
JINDALSTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jindal Steel reported Q1 FY26 consolidated revenue of Rs. 14,336 crores, down 8% QoQ on lower sales volumes of 1.90 MT (down 10% QoQ), but adjusted EBITDA per tonne jumped 35% QoQ to Rs. 15,680 driven by a $11/tonne coking coal cost reduction that met prior guidance. Consolidated PAT rose 36% QoQ (adjusted) to Rs. 1,496 crores, and value-added share climbed to 72%. Net debt rose to Rs. 14,400 crores with net debt-to-EBITDA at 1.49x, which management called a 'red line' and confirmed as the peak. Management reiterated FY26 volume guidance of 8.5-9 MT, guided Q2 coking coal costs $5/tonne lower, and is on track to commission Blast Furnace-2 and BOF-2 within Q2 FY26, while also flagging 5-7% QoQ softness in domestic steel prices.
Strong per-tonne profitability and a firm leverage cap at 1.5x net debt/EBITDA are positives for shareholders, but Q1 volume contraction and softer Q2 pricing may weigh on near-term sentiment. Steady project commissioning (BF-2, BOF-2, slurry pipeline) and new mining wins (Roida-I, Saradhapur Jalatap coal block) reinforce the long-term growth and vertical-integration story.