Jindal Stainless Limited reported a stable performance for Q4FY26, with consolidated EBITDA increasing by 37% year-on-year to INR 1,455 crore. Despite geopolitical disruptions in West Asia impacting fuel and logistics costs, the company achieved annual sales volume growth of 8% for FY26. Jindal Stainless remains focused on its long-term growth strategy, expanding downstream capacities and successfully commissioning its 1.2 million ton per annum stainless steel melt shop in Indonesia.
Financial Highlights
For the quarter ending March 31, 2026, Jindal Stainless maintained robust operational momentum. The company reported a consolidated PAT of INR 834 crore, marking a 41% year-on-year increase. Annual figures for FY26 were equally strong, with total deliveries reaching 2.57 million tons, an 8% increase over the previous year. Furthermore, the company demonstrated disciplined financial management, with net debt reducing to INR 3,040 crore and a healthy net debt-to-EBITDA ratio of 0.55x.
Strategic Expansion and Indonesia Operations
The company has successfully commissioned its 1.2 million ton per annum stainless steel melt shop in Indonesia ahead of schedule, bringing total melting capacity to 4.2 million tons per annum. This strategic move aims to secure raw material access and provide operational flexibility. The firm is also advancing downstream integration in India with a INR 900 crore investment earmarked for cold rolling capacities at Hisar and Kharagpur to support its target of 3.5 million tons per annum by FY29.
Market Outlook and Guidance
Looking ahead to FY27, the company projects a volume growth of 7% to 9%. For the first half of the year, it has provided an EBITDA guidance of INR 18,000 to INR 20,000 per ton. While geopolitical uncertainties in West Asia continue to impact fuel and utility costs, management remains confident in navigating these challenges through a diverse product portfolio, including growth in the automotive, railway, metro, and defense segments, and by implementing mitigation strategies like green hydrogen and coal gasification.
Commitment to Shareholders
Reflecting its strong financial position and confidence in future growth, the company’s Board has recommended a final dividend of INR 3 per share for FY26. This, combined with the earlier interim dividend of INR 1 per share, represents a total payout of nearly INR 330 crore to shareholders, subject to approval at the upcoming Annual General Meeting.
Source: BSE
