Jindal Steel Ltd
Jindal Steel Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Jindal Steel aims to ramp up new capacities, with the second blast furnace and BOF 2 at Angul commissioned, strengthening growth prospects. Expectation of margin improvement driven by increased share of value-added products and higher flat product mix, as per S.K.
From Jindal Steel Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Jindal Steel aims to ramp up new capacities, with the second blast furnace and BOF 2 at Angul commissioned, strengthening growth prospects.
- Volume offtake expected to increase, with a target of about 60% annualized capacity utilization of the new 4.6 million tonne blast furnace in H2 FY26.
- Confident to exceed 2 million tonnes of sales per quarter in Q3 and Q4 FY26, supported by new capacities coming online and strong seasonal demand.
- Flat product share expected to grow from 49% to around 55-60% in H2 FY26, targeting segments like construction and engineering while auto sector uptake will gradually improve.
- FY26 is seen as a landmark year with operational milestones reinforcing Angul as a world-class steel hub.
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Profitability & Margins
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Capital Expenditure Plans
- The company has a remaining capex guidance of approximately INR47,043 crores, with INR30,849 crores already spent so far.
- Second half capex is expected to be similar to the first half, around INR7,000 to 9,000 crores.
- A new 3 million tonne capacity expansion is ongoing, with commissioning expected in Q4; incremental capex funding largely from internal accruals.
- Current projects like slurry pipeline are 90% complete and on track for completion.
- Utkal B1 coal mine commissioning is expected by end of Q3, with production ramp-up from Q4.
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Top-ranked in Ferrous Metals
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 Steel Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹16.2K Cr, net profit ₹1.0K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Jindal Steel's management said in earlier quarters
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Frequently Asked Questions
What were Jindal Steel Ltd Q2 FY26 results?
Jindal Steel aims to ramp up new capacities, with the second blast furnace and BOF 2 at Angul commissioned, strengthening growth prospects. Expectation of margin improvement driven by increased share of value-added products and higher flat product mix, as per S.K.
What is Jindal Steel Ltd share price analysis?
Jindal Steel Ltd currently shows a neutral. The stock trades at a P/E of 34.5 with a market cap of ₹106,620 Cr. Investors should review the full earnings analysis for detailed insights.
Is Jindal Steel Ltd planning capital expenditure?
The company has a remaining capex guidance of approximately INR47,043 crores, with INR30,849 crores already spent so far.
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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.