Jindal Stainless Q2 Net Profit Rises 11% to ₹898 Crore, Revenue Grows 18%

Jindal Stainless Ltd reported an 11% year-on-year increase in net profit to ₹898 crore for the second quarter of the financial year 2026-27, supported by higher sales volumes, stronger exports and sustained demand for value-added stainless steel products.

The company had recorded a net profit of ₹808 crore in the corresponding quarter of the previous financial year. Revenue from operations increased 18% to ₹12,874 crore, compared with ₹10,893 crore a year earlier, reflecting improved business activity during the July-September quarter.

The results indicate a recovery following operational disruptions in the first quarter, which the company attributed to geopolitical developments and constraints in industrial gas availability.

Sales Volumes and Exports Support Growth

Jindal Stainless recorded a 14.4% quarter-on-quarter increase in overall sales volumes, while net revenue grew 14.1% over the preceding quarter. The company said demand was supported by stronger contributions from value-added products and continued activity in the automotive and ornamental pipe and tube segments.

Demand for stainless steel products also remained encouraging across several industrial applications. According to the company, plates and ferritic stainless steel grades gained wider acceptance in global markets, particularly in white goods, lifts and elevators.

Exports provided another source of growth during the quarter. Overseas sales increased 36% year-on-year and 20% quarter-on-quarter, as Jindal Stainless continued to expand its presence in markets including South Korea, Colombia, South Africa, Brazil and Japan.

The wider geographical reach is part of the company’s efforts to diversify export markets while responding to changing international demand conditions.

Import Competition Remains a Concern

Despite the improvement in financial performance, the company highlighted rising import pressure in the domestic stainless steel market since April 2026.

Jindal Stainless stated that imports of stainless steel flat products from China in July 2026 were 2.9 times the average monthly level recorded in the previous financial year. Imports during the first four months of FY27 also accounted for approximately 63% of the total imports from China during the whole of FY26, according to the company.

The company said it had focused on maintaining sales volumes by serving domestic customers and pursuing new export opportunities amid the changing market environment.

Four Subsidiaries to Be Amalgamated

During the quarter, the company’s board approved the amalgamation of Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel and Jindal United Steel into Jindal Stainless Limited.

The proposed consolidation is intended to simplify the group structure, improve operational efficiency and reduce administrative and compliance costs. It is also expected to streamline resource utilisation and strengthen management oversight.

Managing Director Abhyuday Jindal said the company had built on its recovery from the operational challenges experienced in the first quarter, citing resilient domestic demand and improving market conditions.

Jindal Stainless reported a turnover of ₹42,955 crore in the previous financial year and has an annual melt capacity of 4.2 million tonnes. Its manufacturing and processing network includes 16 facilities in India and overseas, including Spain and Indonesia.

With domestic demand, exports and product diversification supporting its latest results, the company’s performance will continue to depend on market conditions, import competition and the cost of key industrial inputs.