Jindal Steel Limited has reported its financial results for the second quarter of FY27. The company posted a Gross Revenue of ₹19,448 crore, marking a significant performance. Adjusted EBITDA stood at ₹2,504 crore, with a Net Debt to EBITDA ratio of 1.51x. The company also highlighted operational achievements including a crude steel production of 2.40 MT.
Jindal Steel Reports Strong Q2 FY27 Performance
Jindal Steel Limited, formerly known as Jindal Steel & Power Limited, has announced its consolidated financial highlights for the second quarter ended September 30, 2026 (Q2FY27). The company has demonstrated robust financial and operational performance during the period.
Key Financial Highlights – Q2FY27
- Gross Revenue: ₹19,448 crore
- Adjusted EBITDA: ₹2,504 crore
- Profit after Tax (PAT): ₹771 crore
- Net Debt to EBITDA (TTM): 1.51x
Operational Performance
In terms of operational metrics for Q2FY27:
- Steel Production: 2.40 MT
- Steel Sales: 2.38 MT
Key Drivers and Other Highlights
The company attributed its performance to stable production volumes sequentially, despite the monsoon season, and increased sales volumes supported by inventory liquidation. Net revenue saw a sequential increase driven by higher sales volume and average selling prices (ASP). ASP improvement was noted due to a higher share of flats and lower sales of TMT within longs.
Raw material costs saw an increase due to higher coking coal costs, and other operating costs rose due to higher power & fuel and freight costs. Finance and depreciation costs remained in line with the previous quarter.
Among other key highlights, Jindal Steel commissioned an 18 MTPA Iron ore slurry pipeline and achieved a Guinness World Record for the world’s longest 1.85 km steel slag road. The company also formed a strategic partnership with IIT Hyderabad to establish a Centre of Excellence and received the World Steel Association’s 2026 Steelie Award for “Excellence in People”.
Capital Allocation and Investments
Jindal Steel is committed to disciplined capital allocation. The company continues to invest in its steel and ancillary businesses, focusing on green technology. For growth CAPEX, the target is an annual investment of INR 7,500–10,000 crore with a project pre-tax ROCE of 18-20%. The current ROCE stands at 8%, with expectations of improvement as new facilities ramp up. The company maintains a cash balance of INR 7,237 crore and aims to keep net debt to EBITDA below 1.5x.
Source: BSE
