OUTCOME OF BOARD MEETING HELD ON MAY 1, 2026
JINDALSTEL · price
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Jindal Steel reported audited standalone results for FY 2025-26 with total revenue from operations at Rs 54,023.14 crores (up 10.7% from Rs 48,818.03 crores). However, standalone net profit declined 15% to Rs 3,073.62 crores from Rs 3,621.18 crores due to exceptional items of Rs 1,470.16 crores loss, primarily from write-off of Rs 3,311.34 crores of loans to subsidiary Jindal Steel (Mauritius) Limited (JSML). Consolidated net profit grew 18% to Rs 3,360.87 crores from Rs 2,845.68 crores. The Board recommended a final dividend of Rs 2 per share (200%). Auditors drew emphasis of matter on JSML having accumulated losses of Rs 6,966.40 crores and negative net worth of Rs 5,379.27 crores with material uncertainty on going concern, though auditors opinion remained unmodified.
The standalone profit decline due to loan write-offs and going concern uncertainty for Mauritius subsidiary may create near-term pressure on the stock, though the 200% dividend and consolidated profit growth provide some support to shareholders.