Jindal Stain.
Jindal Stain. Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Jindal Stainless expects continued growth driven by rising domestic demand and infrastructure expansion. Jindal Stainless Limited expects steady growth with no revisions to EBITDA per ton guidance for FY26 and FY27, maintaining original projections amid market uncertainties like CBAM and QCO.
From Jindal Stain.'s Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Jindal Stainless expects continued growth driven by rising domestic demand and infrastructure expansion.
- Q2 FY26 deliveries increased ~15% YoY, with full-year volume growth guidance maintained at 9%-10%.
- Despite strong H1 volume growth (~11%), the company is cautious and holds to original volume guidance due to external uncertainties like CBAM and QCO.
- Expansion projects, including melt shop in Indonesia, cold rolling capacity, NPI plant, and Maharashtra facility (starting FY28), are on track, supporting volume growth in coming years.
- Stainless steel rebar demand is rising, and the company plans to increase its share in rebar production.
- Export growth is expected to remain subdued short-term until clarity on CBAM arises.
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Profitability & Margins
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Capital Expenditure Plans
- Major CAPEX for Maharashtra expansion expected from FY28 onwards, with plans for four phases of 1 million ton each.
- FY26 CAPEX guidance of INR 2,700 crores, with ~INR 1,260 crores spent in H1 FY26, on track to meet full-year guidance.
- Ongoing expansions include SMS project in Indonesia (to start early FY27), NPI operations operating at ~90% utilization, and cold rolling capacity expansions scheduled by end FY27.
- Plans to consolidate subsidiaries and related assets over the next 1-2 years for structural simplification.
- Commissioning of a green hydrogen plant at Jajpur facility (capacity 600 NMQ/hr) planned by mid-next year as part of sustainability initiatives.
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Fundraising & Capital Structure
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Order Book & Pipeline
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Jindal Stain. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹11.3K Cr, net profit ₹834 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Jindal Stainless Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Jindal Stain. Q2 FY26 results?
Jindal Stainless expects continued growth driven by rising domestic demand and infrastructure expansion. Jindal Stainless Limited expects steady growth with no revisions to EBITDA per ton guidance for FY26 and FY27, maintaining original projections amid market uncertainties like CBAM and QCO.
What is Jindal Stain. share price analysis?
Jindal Stain. currently shows a neutral. The stock trades at a P/E of 18.5 with a market cap of ₹60,723 Cr. Investors should review the full earnings analysis for detailed insights.
Is Jindal Stain. planning capital expenditure?
Major CAPEX for Maharashtra expansion expected from FY28 onwards, with plans for four phases of 1 million ton each. - FY26 CAPEX guidance of INR 2,700 crores, with ~INR 1,260 crores spent in H1 FY26, on track to meet full-year guidance. - Ongoing expansions include SMS project in Indonesia (to start early FY27), NPI operations operating at ~90% utilization, and cold rolling capacity expansions scheduled by end FY27. - Plans to consolidate subsidiaries and related assets over the next 1-2 years for structural simplification. - Commissioning of a green hydrogen plant at Jajpur facility (capacity 600 NMQ/hr) planned by mid-next year as part of sustainability initiatives. - New stainless steel fabrication facility under Jindal Stainless Steelway Ltd.
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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.