Jindal Steel Q3 FY26 results: profit drops sharply, going concern flagged at units
JINDALSTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.5 pts more than Nifty 100 and 1.9 pts more than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Jindal Steel reported Q3FY26 standalone revenue of Rs 13,559 cr, up around 19 percent YoY, but standalone PAT fell to Rs 672.53 cr from Rs 1,162.77 cr YoY after a Rs 52.80 cr exceptional loss from new Labour Codes. Consolidated PAT dropped sharply to Rs 189 cr from Rs 951 cr YoY. Steel production hit a record 2.51 MT, up 25 percent QoQ, with sales at 2.28 MT. Net debt rose to Rs 15,443 cr and net debt to EBITDA stood at 1.72x. Auditors flagged material going concern uncertainty at Mauritius subsidiary JSML and Australian Wollongong Resources due to accumulated losses.
Mixed read: record production volumes are positive, but sharp profit decline, rising debt, and going concern flags on foreign units are concerns for shareholders.