Jindal Steel has announced the appointment of Gautam Malhotra as Chief Executive Officer, effective October 28, 2025. The company also released its Q2FY26 financial results, posting a gross revenue of INR 13,505 Cr and an adjusted EBITDA of INR 1,875 Cr. Consolidated net debt stands at INR 14,156 Cr, with key expansion projects at Angul progressing as planned, doubling hot-metal capacity.
CEO Appointment
Gautam Malhotra has been appointed Chief Executive Officer of Jindal Steel, effective October 28, 2025. The appointment follows the recommendation of the Nomination and Remuneration Committee.
Mr. Malhotra has been associated with the Company since May 2024, bringing over 19 years of experience across Operations, Supply Chain, Sales, Marketing, and Strategy.
Q2FY26 Financial Highlights
Jindal Steel reported the following consolidated financial results for Q2FY26 (July-September 2025):
- Gross Revenue: INR 13,505 Cr
- Adjusted EBITDA: INR 1,875 Cr
- PAT: INR 635 Cr
H1FY26 Financial Highlights
Jindal Steel reported the following consolidated financial results for H1FY26 (April-September 2025):
- Gross Revenue: INR 27,841 Cr
- Adjusted EBITDA: INR 4,859 Cr
- PAT: INR 2,131 Cr
Debt Position
Consolidated net debt stood at INR 14,156 Cr as of September 30, 2025, compared to INR 14,400 Cr as of June 30, 2025. The net debt-to-EBITDA ratio is 1.48x as of September 30, 2025.
Angul Expansion
The total capex for the quarter was INR 2,699 Cr, primarily driven by expansion projects at Angul. The company commissioned the second-largest blast furnace in the country, doubling the site’s hot-metal capacity.
The company also commissioned a 3 MTPA Basic Oxygen Furnace (BOF-II) at Angul, lifting crude steel capacity and keeping Angul on track to reach 12 MTPA overall steelmaking capacity.
Source: BSE
