Jindal Stainless reported a strong Q3 FY26 performance, marked by an 11% year-on-year increase in sales volume. The company saw consistent domestic demand and prioritized value-added solutions. EBITDA rose by 17% year-on-year, and PAT increased by 27%. Net debt was further reduced, and subsidiaries showed improved performance. The company also continues to focus on sustainability and renewable power utilization.
Key Business Highlights
Jindal Stainless experienced positive momentum in Q3 FY26, achieving an 11% year-on-year growth in sales volume, driven by sustained domestic demand. Performance in the domestic market was consistent, supported by sectors like automotive, ornamental pipe and tube, railways, metro, and white goods.
The company launched the JSL Saathi Pragati initiative for the stainless steel pipe and tube segment. Demand for stainless steel in passenger coaches increased, boosted by design revisions in Vande Bharat and new orders for Vande Bharat sleeper blocks.
Acceptance of stainless steel by ICF Chennai for metro car fabrication and GST cuts supporting white goods demand also contributed to strong deliveries. Auto segment growth was driven by lower GST rates.
Financial Performance
Q3 FY26 deliveries reached 0.65 million tonnes, up 11% year-on-year. Consolidated EBITDA increased by 17% to ₹1408 crores, while consolidated PAT stood at ₹828 crores, a 27% increase. For the nine months of FY26, deliveries were 1.92 million tonnes, an 11% increase. Consolidated EBITDA rose by 14% to ₹4106 crores, and consolidated PAT increased by 23% to ₹2350 crores.
Net debt was further reduced to ₹3451 crores, with a net debt-to-EBITDA ratio at 0.67.
Sustainability Initiatives
Jindal Stainless achieved a S&P Global Corporate Sustainability Assessment score of 78 out of 100 for FY25, ranking among the top 5% in the steel sector and securing 4th position globally. Renewable power utilization at Jajpur and Hisar facilities has increased to 56% of total imported power in Q3 FY26.
Expansion and Future Plans
The company’s SMS project in Indonesia and downstream capacity expansion in India are progressing as planned. The Board approved an interim dividend of ₹1 per share for FY26. Jindal Stainless signed MOUs with four government industrial training institutes to implement stainless steel fabrication courses.
The Maharashtra project is expected to contribute to future growth, with plans for further downstream investments being developed.
Source: BSE
