Jindal Stainless, Japan’s JFE Steel Sign Technical Agreement to Improve Ferritic Steel Production

Jindal Stainless has entered into a Technical Assistance Agreement with Japan-based JFE Steel Corporation, seeking to strengthen its manufacturing capabilities for selected ferritic stainless steel grades as demand for specialised steel products grows across key industrial sectors.

The collaboration is focused on improving product quality, manufacturing processes and operational efficiency. The upgraded grades are expected to address requirements from sectors including automotive, railways, process industries and infrastructure, where stainless steel performance and consistency are increasingly important.

The agreement comes as Jindal Stainless continues to move towards higher-value products and expand its downstream capabilities. Technology sharing with JFE Steel is expected to support the company’s efforts to improve product specifications while enhancing manufacturing efficiency.

Strong Q1 Performance

Jindal Stainless reported consolidated net revenue of ₹11,279 crore for the first quarter of Financial Year 2026–27, compared with ₹10,207 crore in the corresponding quarter of the previous year.

Consolidated Profit After Tax stood at ₹769 crore, up from ₹715 crore in Q1 of Financial Year 2025–26. The company reported consolidated EBITDA of ₹1,329 crore during the quarter.

Net debt stood at ₹2,950 crore, with a net debt-to-equity ratio of 0.14x, indicating a relatively comfortable balance-sheet position.

However, finished goods sales volume declined to 580,805 tonnes from 626,252 tonnes a year earlier. The decline was attributed to temporary gas shortages linked to the West Asia conflict.

Jindal Stainless has also transitioned its Odisha facility to piped natural gas, helping reduce the impact of fuel supply disruptions and supporting the normalisation of operations.

Focus on Higher-Value Stainless Steel

The technical partnership with JFE Steel comes alongside Jindal Stainless’ broader investment programme. The company is working to expand cold rolling capacity at its Hisar and Kharagpur facilities, with investments of around ₹900 crore aimed at taking capacity to 2.67 million tonnes per annum by Financial Year 2027–28.

The company is also evaluating a site in Maharashtra for its proposed ₹40,000 crore, 4-million-tonnes-per-annum manufacturing facility.

For Jindal Stainless, the latest agreement represents another step towards building a stronger portfolio of specialised stainless steel products, while improving its ability to serve demanding industrial applications in India and overseas markets.