Mumbai: Jindal Steel reported a sharp sequential rise in consolidated net profit to Rupees 1,041 crore in Q4 FY26, compared to Rupees 189 crore in Q3, marking a surge of over 451 percent. Revenue also grew strongly to Rupees 19,399 crore from Rupees 15,172 crore in the previous quarter. The company had reported a loss of Rupees 304 crore in Q4 FY25, indicating a significant year-on-year turnaround. The quarterly performance reflects strong operational momentum and improved realizations.
Opening Performance Summary
According to the audited financial results (page 25), Jindal Steel’s gross revenue rose to Rupees 19,399 crore in Q4 FY26, up from Rupees 15,172 crore in Q3 and Rupees 15,525 crore in Q4 FY25. Net profit stood at Rupees 1,041 crore versus Rupees 189 crore sequentially, reversing a loss in the year-ago period. The improvement was supported by higher volumes and better operating performance.
Sequential Growth Builds
Quarter-on-quarter growth was driven by a strong rise in EBITDA, which increased to Rupees 2,647 crore from Rupees 1,593 crore, reflecting a 66 percent jump. Profit before tax climbed to Rupees 1,074 crore from Rupees 339 crore in Q3. Revenue growth of nearly Rupees 4,227 crore sequentially highlights improved sales volumes and realizations. The sharp profit expansion indicates operating leverage benefits and better cost absorption during the quarter.
Key Drivers
Operationally, the company reported production of 2.65 million tonnes and sales of 2.62 million tonnes in Q4 FY26, up 6 percent and 15 percent, respectively, on a sequential basis (page 23). Domestic sales contribution increased to 95 percent, aiding margins. Adjusted EBITDA improvement also reflects a stronger pricing environment and a higher share of value-added steel, which stood at 61 percent during the quarter.
Full-Year Performance
For FY26, Jindal Steel reported consolidated gross revenue of Rupees 62,412 crore and PAT of Rupees 3,361 crore. Production rose 14 percent YoY to 9.25 MT, while sales grew 9 percent to 8.68 MT. The company also reported net debt of Rupees 16,019 crore with a Net Debt/EBITDA ratio of 1.66x, indicating stable leverage levels. The Board recommended a final dividend of Rupees 2 per share.