Jindal Saw Ltd. has announced its Q2 FY26 financial results, showcasing an all-time high order book of approximately $1.452 million. The company’s UAE operations are performing strongly. It also commenced a trial run for an additional piercing mill in Seamless plant in October 2025. The company’s performance has been impacted by liquidity challenges in the domestic water sector.
Financial Performance (Standalone)
Jindal Saw Ltd. reported the following key financial figures for Q2 FY26 (Standalone):
- Total Income: ₹34,091 million
- EBITDA: ₹3,349 million
- Profit Before Tax (PBT): ₹1,048 million
- Profit After Tax (PAT): ₹793 million
The company’s EBITDA to total income ratio stood at 9.8%, while the PAT to total income ratio was 2.3% for the quarter.
Order Book and Operations
The company’s order book reached an all-time high of approximately $1.452 million, including approximately $1,412 million for iron & steel pipes and approximately $40 million for pellets. The order book includes exports which are ~0.8 million MT, or ~43% of the pipe order book volume.
UAE Operations
The UAE operations sales achieved approximately 58,000 MT of rust-free pipes in Q2 FY26. The UAE order book stands at approximately USD 240 million.
Corporate Updates
In July 2025, CARE Ratings reaffirmed Jindal Saw’s ratings. The company started commercial operations in FY2024 for a joint venture with Hunting Energy Services Pte Ltd, Singapore.
Growth Drivers and Outlook
Jindal Saw is focusing on consistent policy support for infrastructure development, rapid urbanization, and expansion in the oil and gas sector to drive future growth. The company aims to consolidate its leadership position and leverage its relationships to maintain a healthy order book position.
Source: BSE