Mumbai: (JSL) on Thursday announced its financial results for the quarter and half year ended 30 September 2026, with consolidated net revenue reaching ₹12,874 crore, an 18.2% year-on-year (YoY) increase. The company’s Profit After Tax (PAT) rose 11.1% YoY to ₹898 crore.
Operational Performance
EBITDA for Q2 FY27 stood at ₹1,433 crore, reflecting a 3.2% YoY growth. Finished goods sales volume increased by 2.5% YoY to 6,64,378 tonnes.
Debt and Ratios
The consolidated net debt was reported at ₹3,121 crore, with a net debt-to-equity ratio of 0.15x for the quarter.
Sales Volume and Revenue
On a quarter-on-quarter (QoQ) basis, JSL saw a 14.4% increase in overall sales volumes and a 14.1% growth in net revenue, indicating a recovery from Q1 operational disruptions.
Market Dynamics
Domestic sales constituted 89% of total sales in Q2 FY27, while exports accounted for 11%. Exports surged by 20% QoQ and 36% YoY, with the company expanding its reach in geographies like South Korea, Colombia, South Africa, Brazil, and .
Management Commentary
Abhyuday Jindal, Managing Director, Jindal Stainless, said that the company delivered growth in Q2, building on the recovery from Q1, which was impacted by geopolitical crises. He added that performance was supported by domestic demand, economic growth, and an improved approach to lifecycle costing.
Strategic Initiatives
The company’s board approved the amalgamation of Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel Limited, and Jindal United Steel Limited into Jindal Stainless Limited. This consolidation aims to simplify the group structure, optimise resource utilisation, and improve operational efficiency.
Product Development
JSL developed a special stainless steel grade with higher aluminium content for catalytic converter applications. The company also supplied approximately 40% of the stainless steel for India’s first hydrogen-powered train.
Sustainability Efforts
Jindal Stainless achieved a 12% reduction in GHG Emission Intensity (Scope 1+2), decreasing from 1.76 tCO2/tcs in FY26 to 1.55 tCO2/tcs in Q2 FY27.