Jindal Steel Q2 Results: Profit More Than Halves, Revenue Declines 5%

Jindal Steel Ltd.'s net profit for the second quarter of FY26 dipped 57% sequentially, as per the financial results announced by the company on Tuesday.

The company reported a consolidated bottom line of Rs 638.23 crore against Rs 1,493.97 crore in the previous quarter, according to an exchange filing.

Revenue also saw a 5% decline to Rs 11,685.88 crore from Rs 12,294.48 crore in quarter ended June 30.

Earnings before interest tax depreciation and amortisation stood at Rs 2,081.03 crore, down 31% from Rs 3,005.63 crore while margins contracted to 17.8% from 24.4%.

Jindal Steel also informed that it has appointed Gautam Malhotra as the Chief Executive Officer and Key Managerial Personnel of the Company.

Production and sales for the quarter stood at 2.00 MT, down 5% from the previous quarter, and 1.87 MT down 2% from Q1, FY26, respectively.

Consolidated net debt stood at Rs 14,156 crore as of quarter ended Sept. 30 compared to Rs 14,400 crore as of June 25, 2025.

During the quarter, Jindal Steel commissioned the country’s second largest blast furnace — Bhagavati Subhadrika BF-II at Angul along with a 3 MTPA Basic Oxygen Furnace. This has more than doubled the site’s hot-metal capacity from 4.25 to 8.85 MTPA, as per the filing.

• Revenue down 5% to Rs 11,685.88 crore versus Rs 12,294.48 crore

• Net profit down 57% to Rs 638.23 crore versus Rs 1,493.97 crore

• Ebitda down 31% to Rs 2,081.03 crore versus Rs 3,005.63 crore

• Margin narrows to 17.8% versus 24.4%

Shares of Jindal Steel ended 2.92% higher at Rs 1,184 apiece on the NSE, compared to a 0.11% decline in the Nifty index. The stock has risen 31.36% year-to-date and 22.43% in the last 12 months.