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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Jindal Saw
Jindal Saw (JINDALSAW) investor relations material
Jindal Saw Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary19 Oct, 2026
Executive summary
Q2 FY27 revenue increased YoY, but lower EBITDA and profit reflected margin pressure and Middle East export disruption; domestic water-pipe challenges also weighed on performance.
H2 FY27 is expected to outperform H1, with export oil-and-gas orders and improved execution supporting volumes and mix; geopolitical and delivery risks remain.
Financial highlights
Consolidated Q2 revenue from operations was ₹4,471.79 crore and total income ₹4,523.1 crore; net profit was ₹35.28 crore versus ₹138.56 crore YoY.
Consolidated Q2 EBITDA was ₹312.3 crore versus ₹481.6 crore YoY; PBT after JV share was ₹1.44 crore versus ₹18.26 crore.
Standalone Q2 total income was ₹3,881.4 crore versus ₹3,409.1 crore YoY; EBITDA was ₹265.4 crore versus ₹334.9 crore, and PAT was ₹70.7 crore versus ₹79.3 crore.
H1 consolidated revenue from operations was ₹8,924.10 crore and total income ₹8,988 crore; net profit after tax was ₹90.79 crore.
Standalone H1 total income was ₹7,637.1 crore versus ₹6,735.9 crore; EBITDA was ₹606.4 crore versus ₹894.4 crore, and PAT was ₹180.5 crore versus ₹443.2 crore.
Outlook and guidance
Pipe volumes for FY27 are expected to exceed FY26, with H2 stronger than H1 and execution improvement anticipated from Q4.
New oil-and-gas export orders are expected to improve product mix from Q3; margins are expected to move toward double digits in Q3/Q4, though volatility limits precise guidance.
Confirmed order book stood at $1.135 billion; LOIs were cited at $625 million, including a new $50 million Southeast Asia LOI. Production and dispatches are expected from February/March.
Pipe order-book execution is projected over 9–12 months; a separate update cited $575 million of LOIs, including $430 million of export business outside MENA.
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Latest events from Jindal Saw
- Revenue up but profits and margins down sharply amid MENA disruptions and legal uncertainty.JINDALSAW
Q1 26/27 - Profitability and revenue fell in FY26 amid MENA disruptions, but order book and CapEx support growth.JINDALSAWQ4 25/26
- Q3 FY26 delivered sequential gains, robust revenue, strong order backlog, and stable financials.JINDALSAWQ3 25/26
- Liquidity challenges led to weak Q2, but strong order book and margins support recovery.JINDALSAWQ2 25/26
- Softer Q1, but strong order book, 16%+ EBITDA margin, share split, and tax refund support outlook.JINDALSAWQ1 25/26
- Profits, margins, and financial strength improved, with growth supported by expansion and amalgamation.JINDALSAWQ2 24/25
- Record Q1 profit and margin growth, with value-add focus and capacity expansion underway.JINDALSAWQ1 24/25
- Q3 FY25 consolidated net profit rose to ₹506.42 Cr with robust margins and new capacity set to drive growth.JINDALSAWQ3 24/25
- Results stable to strong, ₹2 dividend recommended, growth expected from Q2 FY2026.JINDALSAWQ4 24/25
Next Jindal Saw earnings date
Q3 26/2714 Feb, 2027
Jindal Saw
Next Jindal Saw earnings date
Q3 26/2714 Feb, 2027
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Frequently asked questions
Jindal Saw Limited is a globally recognized manufacturer and supplier specializing in iron and steel pipe products, fittings, and accessories. The company serves a diverse clientele, including leading oil and gas companies, engineering firms, and authorities in irrigation and water resources. With manufacturing facilities located in India, the United States, Europe, and the UAE, Jindal Saw Limited offers a wide range of products such as submerged arc welded (SAW) pipes, ductile iron pipes, and various steel pipes and tubes. The company's extensive product line supports industries across energy, water, sewage transportation, and various industrial applications. The company is headquartered in New Delhi, India, and its shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).