Q2 2026 Jindal SAW Ltd Earnings Call Transcript
Key Points
- Jindal Saw Ltd (BOM:500378) reported a consolidated total income increase to INR 4,264 crore in Q2 FY26 from INR 4,103 crore in Q1 FY26.
- The company's order book remains strong with new orders secured across all business segments, indicating robust future demand.
- The Abu Dhabi operations showed improvement with sales increasing to INR 607 crore in Q2 FY26 from INR 525 crore in Q1 FY26.
- The company has a comfortable long-term debt position, with standalone long-term debt at approximately INR 550 crore.
- Jindal Saw Ltd (BOM:500378) is actively pursuing new manufacturing projects in the GCC and Mina regions, which are expected to enhance its competitive position.
- The standalone operations suffered with a significant drop in profit after tax to INR 138 crore in Q2 FY26 from INR 415 crore in Q1 FY26.
- Net debt on a consolidated basis increased to INR 3,856 crore as of September 30, 2025, from INR 3,484 crore as of June 30, 2025.
- The business environment is affected by persistent geopolitical challenges and delays in government funding, impacting predictability.
- There is a backlog in the execution of orders due to liquidity issues, particularly affecting the DI pipe segment.
- The company's margins have been impacted by lower production and sales volumes, leading to reduced profitability.
2 of FY 25.
The for Q2 FY 26 is reported as INR 79 crore as compared to INR 364 in Q1 of FY 26 and INR 477 crore in Q2 of FY 25.
On a consolidated basis, the company recorded total income of INR4,264 Crores as compared to INR4,103 Crores in Q1 FY 26 and INR5,602 Crores of Q2 FY25. The Vista 4 Q2 FY 26 reported as INR 482 Crores as compared to INR 688 crore in Q1 FY 26 and with 944 Crore in Q2 of FY 25. The pad for Q2 FY 26 is reported at INR 138 crore as compared to INR 415 crores in Q1 and of FY 26 and INR 475 Crores in Q2 of FY 25. So, the standalone operations have suffered, but consolidated operations have shown improvement, especially from the U operations.
The net debt of the company on stand on basis has increased to INR 3,310 crore as of 30th September as compared to INR 3,088 crore as of 30th June 2035. The long-term debt is approximately 550 crores only. The net debt of the company and consolidated basis has increased to INR 3,856 crore as the 30th of September 25 as compared to INR 3,484 crore
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