Jindal Saw
Jindal Saw Q1 FY27 earnings call: Revenue & Margins
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
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The short version
FY27 volume expected to be flattish compared to FY26 due to geopolitical issues and domestic demand slowdown. Q1 FY27 showed a decline in EBITDA (down ~40%), PBT (down ~53%), and PAT (down ~70%) compared to Q1 FY26 due to geopolitical issues, weak domestic water sector demand, and temporary API license suspension.
From Jindal Saw's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- FY27 volume expected to be flattish compared to FY26 due to geopolitical issues and domestic demand slowdown.
- Near-term recovery in domestic water segment anticipated, driven by state-driven projects.
- Export volumes to Middle East constrained by geopolitical disruption; monthly dispatches to Middle East expected to remain at 10,000-12,000 tons via road transport.
- Overseas market diversification ongoing, focusing on Europe, Southeast Asia, Latin America, and CIS to mitigate regional risks.
- Capacity expansion projects in Middle East (Saudi Arabia, Abu Dhabi) expected to complete in 18-24 months, enabling future volume growth.
- Domestic capacity addition not planned; focus on better utilization of existing plants.
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Profitability & Margins
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Capital Expenditure Plans
- Ongoing capital investments in two key projects in the Middle East:
- Seamless pipe manufacturing facility in Abu Dhabi with a capacity of 300,000 tons, estimated cost USD 300 million; expected commercial operation by FY29.
- LSAW and HSAW pipe mills in Saudi Arabia (300,000 tons per annum each) via a joint venture with 51% stake, financial closure expected in the coming months, commissioning within 18-24 months.
- No domestic capacity additions planned in India; focus is on Middle East expansions.
- Long-term term debt expected to increase from ~INR500 crores currently to ~INR3,500 crores post-project completions to fund these expansions.
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Jindal Saw's total order book stands at 1.78 million tons, with 0.75 million tons comprising export orders.
- Export orders are split approximately 60% from the Middle East and 40% from non-Middle East markets.
- Within exports, around 6.08 lakh tons relate to Helical SAW job work orders; the remaining 1.42 lakh tons include longitudinal (LSAW), seamless, and ductile iron pipes.
- Order book value breakdown: approximately USD 70 million from longitudinal pipes, USD 30 million from seamless, and USD 40 million from ductile iron pipes.
- Shipments to Saudi Arabia (6 lakh tons job work order) are currently on hold due to geopolitical issues affecting the Strait of Hormuz but efforts are ongoing to find alternative solutions.
2 more points from Jindal Saw's call on order book
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Jindal Saw — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹4.6K Cr, net profit ₹124 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Jindal Saw Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Jindal Saw Q1 FY27 results?
FY27 volume expected to be flattish compared to FY26 due to geopolitical issues and domestic demand slowdown. Q1 FY27 showed a decline in EBITDA (down ~40%), PBT (down ~53%), and PAT (down ~70%) compared to Q1 FY26 due to geopolitical issues, weak domestic water sector demand, and temporary API license suspension.
What is Jindal Saw share price analysis?
Jindal Saw currently shows a neutral. The stock trades at a P/E of 28.5 with a market cap of ₹18,651 Cr. Investors should review the full earnings analysis for detailed insights.
Is Jindal Saw planning capital expenditure?
Ongoing capital investments in two key projects in the Middle East: - Seamless pipe manufacturing facility in Abu Dhabi with a capacity of 300,000 tons, estimated cost USD 300 million; expected commercial operation by FY29.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.