The company increased its annual sales volume by 10.6%, reaching 649,857 tonnes. Standalone net revenue rose by 5.6% year-over-year (YoY) to INR 10,632 crore. During the same period, standalone EBITDA and Profit After Tax (PAT) stood at INR 1,103 crore and INR 666 crore, respectively reflecting YoY growth of 10% and 7.6%.
On a consolidated basis, net revenue grew by 6.2% to INR 10,518 crore, consolidated EBITDA reached INR 1,408 crore, and net profit totaled ₹828 crore a significant 26.6% YoY increase. The company’s consolidated net debt stood at INR 3,451 crore, resulting in a net debt-to-equity ratio of 0.18x.
The Board of Directors approved an interim dividend of INR 1 per share (on a face value of INR 2), representing a 50% payout ratio for FY2026. The record date for determining shareholder eligibility is January 29, 2026, with dividend payments to be completed by February 19, 2026 at the latest.
JSL attributed its stable quarterly performance to innovative product offerings, enhanced operational efficiency, and improved customer service. Strong domestic demand from key sectors including automotive, decorative tubes and pipes, railways and metro infrastructure, and white goods combined with infrastructure expansion, efficient vertical logistics, and strengthened transit networks, drove consistent sales momentum.
However, the company highlighted that abuse of Free Trade Agreement (FTA) routes and rising volumes of subsidized, low-priced, and low-quality imports from countries like China and Vietnam (ASEAN members) have distorted the competitive landscape, particularly impacting Indian MSMEs. Despite this, JSL successfully maintained its market share through competitive pricing, a robust distribution network, and customer-centric initiatives such as the Jindal Saathi Seal, QR Code traceability, and loyalty incentives.
On the export front, volumes remained subdued due to global uncertainties and protectionist measures in the U.S. and Europe. Consequently, the company strategically prioritized the domestic market during the quarter, focusing on delivering value-added solutions to long-term global customers.
JSL expanded its Jindal Saathi Seal co-branding initiative initially launched for stainless steel kitchenware and sinks to include 20 partners, and further extended it to the tubes and pipes segment, bringing the total number of partners to 170. The Jindal Saathi Pragati Loyalty Program reached over 5,400 retailers and 39,000 fabricators this quarter, with monthly QR code scans exceeding 400,000 a 400% increase.
Domestic demand from strategic sectors, supported by infrastructure development and efficient logistics, continued to drive steady sales growth. Nevertheless, the company reiterated concerns about heightened competitive pressure on MSMEs due to low quality subsidized imports. JSL preserved its market position through competitive pricing, a strong distribution footprint, and customer-focused programs.
Export volumes remained flat amid global headwinds and trade barriers. The company maintained a strategic focus on the domestic market while continuing to offer high-value solutions to long-term international clients.
Sustainability and ESG Achievements
As of November 26, 2025, Jindal Stainless scored 78 out of 100 in the S&P Global Corporate Sustainability Assessment, placing it in the top 5% globally in the steel sector and securing the 4th position worldwide. It also received an ESG score of 71/100 from NSE Sustainability Ratings and Analytics Limited, making it one of the highest-scoring companies in India’s Iron & Steel sector.
At its Jajpur and Hisar facilities, 56% of total imported electricity now comes from renewable sources. The company published four Environmental Product Declarations (EPDs) in its EPD library and developed high-strength stainless steel applications, including salt transport trailers for sustainable logistics.
Infrastructure and Defense Developments
JSL’s first dedicated stainless steel fabrication unit in Mumbai now supports the production of critical infrastructure components, such as bridge girders. Jindal Defence and Aerospace (JDA) secured an order for specialty alloy plates for India’s first crewed space mission, Gaganyaan, and commissioned its Electroslag Remelting (ESR) facility, strengthening its position in the strategic defense and aerospace sector.
Managing Director Abhyuday Jindal emphasized that the company continues to treat the domestic market as a strategic priority, with a strong focus on innovation and deepening presence in key sectors. He also noted JSL’s advocacy for a stronger regulatory framework to curb unfair imports and expressed cautious optimism regarding export opportunities.
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