Jindal Steel Q2 Net Profit Climbs 21% to ₹771 Crore on Strong Sales

Jindal Steel and Power Limited reported a significant increase in consolidated net profit for the second quarter of the current fiscal year, reaching ₹771 crore, reflecting a 21 percent rise compared to the same period last year. The company attributed this growth primarily to an uptick in sales volumes during the three months ending September 30, 2026.

In its official filing to the stock exchange on Friday, the steel producer, owned by Naveen Jindal, detailed that its consolidated net profit had been ₹1,646 crore in the corresponding quarter of the previous fiscal year. This year, despite a lower net profit figure, the percentage growth marked a positive performance against the backdrop of the company's operational metrics.

The July to September quarter saw Jindal Steel's total income climb to ₹15,289.20 crore, up 26 percent from ₹12,119.03 crore in Q2 FY26. This increase was supported by higher sales volume and improved pricing. The company also disclosed that its gross revenue, which factors in goods and services tax (GST) and other income streams, surged 44 percent year-on-year to ₹19,448 crore from ₹13,505 crore in the same quarter last year.

Jindal Steel noted a 9 percent quarter-on-quarter rise in gross revenue, driven by a combination of increased sales volume and a better mix of product pricing. The firm highlighted that the average selling price improved sequentially due to a higher proportion of flat steel products in the overall sales portfolio, alongside a reduction in the share of TMT bars within the long steel segment.

Domestic sales played a crucial role in this performance, accounting for 92 percent of the total sales, underscoring the company's strong foothold in the Indian market. Production volumes remained consistent at 2.40 million tonnes for the quarter, maintaining stability despite challenges such as the monsoon season. When compared year-on-year, production grew by 20 percent from 2 million tonnes in Q2 FY26.

Sales volumes increased substantially to 2.38 million tonnes, a 27 percent jump from 1.87 million tonnes in the same quarter last year. This growth was supported in part by inventory liquidation, which helped optimize stock levels and meet demand more effectively.

On the financial front, the company’s consolidated net debt stood at ₹14,786 crore at the end of September, improving from ₹15,927 crore recorded in June. Correspondingly, the net debt-to-EBITDA ratio improved to 1.51 times from 1.71 times in the previous quarter, indicating better leverage management. Capital expenditure for the quarter amounted to ₹1,228 crore, reflecting ongoing investment in capacity and infrastructure.

In infrastructure developments, Jindal Steel commissioned a 192-kilometer slurry pipeline connecting Barbil to Angul. This project, supported by India’s largest iron ore slurry-making and pumping facility with an 18 million tonnes per annum capacity, aims to enhance raw material logistics by enabling efficient iron ore transportation. The pipeline is expected to reduce road congestion, lower fuel consumption, and decrease associated emissions, aligning with the company’s sustainability initiatives.

Further demonstrating its commitment to innovation and environmental responsibility, Jindal Steel earned a Guinness World Record for constructing the world’s longest road made exclusively from processed steel slag. This 1.85-kilometer, four-lane road in Raigarh, Chhattisgarh, was developed in collaboration with the CSIR-Central Road Research Institute (CSIR-CRRI). The project exemplifies the productive reuse of steel slag in infrastructure, supporting circular economy principles within the steel industry.

Jindal Steel’s performance during this quarter highlights its steady growth in a competitive market, driven by strategic product mix, operational efficiency, and sustainable practices. These factors contribute to its strong position in India’s steel sector, which continues to be a critical component of the country’s industrial development and infrastructure expansion.