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Jindal Stainless
Jindal Stainless (JSL) investor relations material
Jindal Stainless Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary22 Jan, 2026
Executive summary
Q3 FY26 sales volume grew 11% year-on-year to 650,000 MT, driven by strong domestic demand across automotive, railways, metro, and white goods sectors, while export volumes declined due to global uncertainties and protectionist measures.
Consolidated net revenue for Q3 FY26 was ₹10,518 crore, up 6% year-over-year, with consolidated EBITDA rising 17% to ₹1,408 crore and PAT increasing 27% to ₹828 crore.
Initiatives like Jindal Saathi and QR code programs enhanced product authenticity and customer engagement.
Sustainability achievements include an S&P Global Corporate Sustainability Assessment score of 78/100, ranking in the top 5% globally in the steel sector.
Board approved unaudited standalone and consolidated financial results, declared an interim dividend of ₹1 per share, and re-appointed three Independent Directors.
Financial highlights
Q3 FY26 deliveries reached 0.65 million tons, up 11% year-on-year, with consolidated revenue at ₹10,517.55 crore and PAT at ₹827.78 crore.
Nine-month FY26 consolidated revenue was ₹31,617.47 crore, EBITDA at ₹4,106 crore (+14% YoY), and PAT at ₹2,350.36 crore (+23% YoY).
Standalone revenue for Q3 FY26 was ₹10,632.35 crore, with net profit of ₹665.85 crore; nine-month standalone revenue was ₹31,853.75 crore, with net profit of ₹1,951.38 crore.
Interim dividend of ₹1 per share, totaling approximately ₹82.44 crore, was declared.
Exceptional loss of ₹30 crore recorded in Q3 FY26 consolidated results.
Outlook and guidance
Guidance for FY26 EBITDA per ton remains at INR 19,000–21,000, with nine-month average at INR 21,300.
Management is confident of meeting volume growth and EBITDA per ton guidance despite geopolitical and regulatory uncertainties.
Melting capacity to increase from 3 MTPA to 4.2 MTPA with new Indonesian joint venture.
Credit rating outlook revised to 'IND AA, Positive' for long-term borrowings post quarter-end.
Further clarity on FY27 volume growth and downstream expansion plans expected next quarter.
Indonesia JV capacity expansion strategy
Future impact of new Labour Codes on costs?
Reason for credit rating outlook upgrade?
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Next Jindal Stainless earnings date
Q4 25/268 May, 2026
Jindal Stainless
Next Jindal Stainless earnings date
Q4 25/268 May, 2026
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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.
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