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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 Stainless
Jindal Stainless (JSL) investor relations material
Jindal Stainless Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary23 Oct, 2026
Executive summary
Q2 FY27 rebounded from Q1 disruptions: revenue rose 18% YoY to ₹12,873.86 crore, volume increased 3% to 664 KT, EBITDA grew 3% to ₹1,433 crore and PAT rose 11% to ₹897.75 crore.
H1 FY27 revenue rose 14% YoY to ₹24,152.40 crore; deliveries fell 2% to 1,245 KT, while EBITDA increased 2% to ₹2,762 crore and PAT rose 9% to ₹1,666.41 crore.
Domestic demand remained resilient, supported by economic growth and greater focus on lifecycle costing.
Financial highlights
Q2 consolidated revenue was ₹12,873.86 crore, up 18% YoY and 14% QoQ; EBITDA was ₹1,433 crore, up 3% YoY and 8% QoQ.
Q2 PAT was ₹897.75 crore, up 11% YoY and 17% QoQ; diluted EPS was ₹10.84 versus ₹9.78 a year earlier.
Q2 finished-goods sales volume rose 14% QoQ and 3% YoY; average realization declined 6.5% QoQ, reflecting product mix, raw-material movements and market sentiment.
Q2 raw-material costs reflected a lagged impact from higher Q1 nickel prices.
Standalone Q2 revenue was ₹11,413.28 crore and net profit ₹785.50 crore; H1 revenue was ₹22,089.83 crore and net profit ₹1,391.39 crore.
Outlook and guidance
FY27 volume growth guidance reduced to 4%-6% from 7%-9%; EBITDA-per-ton guidance increased to ₹20,000-₹22,000 from ₹18,000-₹20,000.
FY27 CapEx guidance remains ₹2,400-₹2,600 crore and net debt guidance ₹2,500-₹2,800 crore; the FY29 target of 3.5 million tons annual sales volume remains intact.
Downstream capacity ramp-up is expected to support H2 volume growth, barring unforeseen disruptions; some cold-rolling mills are commissioning and HRAP commissioning is expected by year-end or early next year.
FY27 demand outlook is positive across lifts and elevators, white goods, automotive, chemicals and fertilizers, hydroelectric projects, dairy and thermal power.
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Latest events from Jindal Stainless
- FY24 earnings grew strongly, while falling nickel and weak exports weighed on Q4 margins.JSL
Q4 23/24 - Revenue and profit rose year-over-year, with improved leverage and strong margins.JSLQ1 26/27
- FY26 revenue and EBITDA rose, margins improved, and FY27 guidance remains strong.JSLQ4 25/26
- Q3 FY26 delivered 11% sales growth, record PAT, and strategic expansion for future growth.JSLQ3 25/26
- Q2 FY26 delivered strong growth in volumes, revenue, and profit, with improved leverage and expansion.JSLQ2 25/26
- Q1 FY26 delivered 8% revenue growth, higher margins, and major investments in capacity and renewables.JSLQ1 25/26
- Q2 FY25 saw revenue of ₹9,746 crore, net profit of ₹609 crore, and capacity expansion via acquisitions.JSLQ2 24/25
- Record Q1 sales, strong profit growth, and major expansion moves with ₹5,000 crore fundraise approved.JSLQ1 24/25
- Record Q3 sales, strong domestic growth, and global expansion amid margin pressures.JSLQ3 24/25
Next Jindal Stainless earnings date
Q3 26/2714 Feb, 2027
Jindal Stainless
Next Jindal Stainless earnings date
Q3 26/2714 Feb, 2027
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Frequently asked questions
Jindal Stainless Limited (JSL) is an Indian stainless steel manufacturer, recognized as a key player in the industry with a significant presence both domestically and internationally. Founded in 1970 and headquartered in New Delhi, JSL is part of the OP Jindal Group. The company's robust manufacturing capabilities are showcased through its comprehensive product range, including stainless steel slabs, coin blanks, precision strips, blade steel for razor and surgical blades, as well as hot rolled and cold rolled coils. The company's shares are listed on the NSE.