Jindal Stainless Q2 net profit rises 11% to Rs 898 crore
Benchmarks Nifty22,742.8055.15FEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.69 % Invest NowFEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.25 % Invest NowEnter search…
Jindal Stainless has revised its FY27 volume growth outlook to 4-6%, down from the previous 7-9% forecast, due to declining sales. Despite the downturn, the company reported an 11% rise in profits during the September quarter, driven by over 664,000 tonnes of steel sold, with exports comprising 11%. This adjustment reflects ongoing challenges in the market affecting their overall performance.
Listen to this article in summarized format
Loading...×Mumbai: Jindal Stainless has cut its FY27 volume growth guidance to reflect the impact of the West Asian crisis but expects profitability to be higher than earlier estimates.The country's largest producer of stainless steel now expects 4-6% volume growth, down from the 7-9% that it had guided for at the start of the year.
This is likely to be the lowest volume growth for the company in at least five years.
"Our first quarter was badly disrupted, so we are revising the sales guidance downward," chief executive officer Tarun Khulbe said on a call.
Read more: Ahead of Market: 10 things that will decide stock market action on Friday
Live Events
In the June quarter, Jindal Stainless' sales volume had seen an over 7% YoY decline.
The New Delhi-based company saw an 11% year-on-year rise in its consolidated net profit to ₹898 crore for the September quarter. Of this, ₹116.41 crore was an exceptional gain, related to a tax provision and an Indonesian subsidiary.
Net revenue for the quarter grew more than 18% on-year to ₹12,874 crore. Jindal Stainless sold 6,64,378 tonnes of steel during the quarter, up 2.5% compared to the previous year. Of this, 11% were exports.
“The quarter marked a resilient recovery following the operational disruptions in Q1, which had been impacted by geopolitical situation and industrial gas availability constraints,” the company said in a statement. “Demand performance was underpinned by higher contributions from value-added products, along with momentum in the automotive and ornamental pipe & tube segments,” it said.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter stood at Rs 1,433 crore, up more than 3% on year, while the EBITDA made on each tonne of stainless steel was Rs 21,570.
Read more: Jio leverage play pops up at SBI as India brokers lure IPO bets
Jindal Stainless had guided for its EBITDA per tonne in the range of Rs 18,000 – 20,000 at the start of the year, which it now sees in the range of Rs 20,000 – 22,000.
The company announced its earnings after market hours on Thursday, and its shares closed at 708.60 rupees on the BSE, down 3.4% from the previous close.
INSET
The company’s board has approved the amalgamation of Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel Limited and Jindal United Steel Limited into itself, with the objective of simplifying the group structure.Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onjindal stainlessJindal Stainless Q2 Net ProfitJindal Stainless Volume Growth GuidanceJindal Stainless Earnings ReportQ2 Financial Performance Jindal StainlessJindal Stainlesssbijsl
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onjindal stainlessJindal Stainless Q2 Net ProfitJindal Stainless Volume Growth GuidanceJindal Stainless Earnings ReportQ2 Financial Performance Jindal StainlessJindal Stainlesssbijsl
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...morelessPrime ExclusivesInvestment IdeasStock Report PlusePaperWealth EditionKYB and KYC: Business behind the wealth creator called “Divi’s Lab” – Part 1
The global business of promising more
One company, 2 words. Bond yield and CDS: Will they decide the fate of global markets?
Business of Odd Things: Inside an industry that farms fish that nobody is meant to eat
War's second-order effects are becoming visible in critical sectors
US mid-term elections – Part 2: What does it mean for Trump to lose control of Congress?
- 1
- 2
- 3
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET
Unlock Access to All Exclusives with ETPrime FREE TRIAL
15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers
Trial offer expiring in00 : 05 : 00
I'd rather pay ₹2599 nowUh-oh! This is an exclusive story available for selected readers only.
Worry not. You’re just a step away.
Prime Account Detected!
It seems like you're already an ETPrime member with
Login using your ET Prime credentials to enjoy all member benefits
Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.
Unlock ETPrime's Exclusive Stories Today!
Big Price Drop! Flat 40% Off
Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In nowOffer Exclusively For You
Save up to Rs. 700/-
ON ET PRIME MEMBERSHIP
Avail OfferOffer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail OfferOffer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail OfferOffer Exclusively For You
Get Flat 40% Off
Then ₹ 1749 for 1 year
Avail OfferOffer Exclusively For You
ET Prime at ₹ 49 for 1 month
Then ₹ 1749 for 1 year
Avail OfferSpecial Offer
Get flat 40% off on ETPrime
Avail OfferAvail OfferClaim NowAlready a Member? Sign In nowNeed Assistance?
Connect with an ETPrime expert for personalized support and guidance
+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '' + h3 + '
' + h4 + '
- ' + listing + '
What’s Included with
ETPrime Membership
1Exclusive Insights That Matter
Uncover the truth with our investigative stories
Make strategic moves using the real-world case studies
Read industry-specific stories to identify emerging trends
Spot opportunities with in-depth insights that matter
Trump temper on H-1B visas is forcing Indians to do these things to stay put in US
What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.
Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?
The problem with lab grown diamonds
Why a falling rupee is a better option for the economy
A list of top 20 momentum stocks that have delivered massive returns in one year
2Invest Wisely With Smart Market Tools & Investment Ideas
Alpha Trade
Get daily trade ideas from SEBI-registered research analysts.
Investment Ideas
Grow your wealth with stock ideas & sectoral trends.
Stock Reports Plus
All-in-one stock research with Stock Score, peer comparison & key signals.
BigBull Portfolio
Get to know where the market bulls are investing to identify the right stocks.
Stock Analyzer
Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.
Market Mood
Analyze the market sentiments & identify the trend reversal for strategic decisions.
Stock Talk Live at 9 AM Daily
Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.
3Stay informed anytime, anywhere with ET ePaper
ePaper - Print View
Read the PDF version of ET newspaper. Download & access it offline anytime.
ePaper - Digital View
Read your daily newspaper in Digital View & get it delivered to your inbox everyday.
Wealth Edition
Manage your money efficiently with this weekly money management guide.
TOI ePaper
Read the PDF version of TOI newspaper. Download & access it offline anytime.
Deep Explainers
Explore the In-depth explanation of complex topics for everyday life decisions.
Health+ Stories
Get fitter with daily health insights committed to your well-being.
Personal Finance+ Stories
Manage your wealth better with in-depth insights & updates on finance.
5Enjoy Complimentary Subscriptions From Top Brands
Stream new documentaries from all across the world every day.
Stories you might be interested in
Figures reflect the source report and its stated period. This article is for information and is not investment advice.
