Half Year 2026 Jindal Steel Ltd Earnings Call Transcript

Oct 29, 2025 / 09:30AM GMT

Release Date Price: ₹1070.6 (-0.27%)

Transcript

Key Points

Positve

Jindal Steel Ltd (BOM:532286) successfully commissioned two major plants, significantly increasing their hot metal and crude steel making capacities.
The company has made substantial progress in AI adoption, enhancing operational efficiency and safety.
Despite industry challenges, Jindal Steel Ltd maintained a high value-added sales component, reaching 73% of total sales, which helped stabilize realizations.
The company achieved a reduction in net debt, showcasing effective working capital management.
Jindal Steel Ltd remains on track to achieve its target of 15.6 million tons of steelmaking capacity by the end of the fiscal year.

Negative

Production and sales volumes declined in Q2 FY26 due to prolonged monsoon and planned shutdowns.
The company faced increased operating expenses and raw material costs, impacting profitability.
Jindal Steel Ltd continues to be a net importer of steel, with imports increasing significantly despite safeguard duties.
There is a mismatch between liquid steel and finished steel capacities, indicating potential bottlenecks.
The company's international operations, particularly in Australia, continue to incur losses, with substantial accumulated losses on the books.

Operator

Ladies and gentlemen, good day and welcome to Jindal Steel Q2 & H1 FY26 earnings conference call hosted by ICICI Securities Limited.

(Operator Instructions)

I now hand the conference over to Vikas Singh from ICICI Securities Limited. Thank you and over to you sir.

Vikas Singh

- ICICI Securities Limited

Good afternoon, everyone.

Welcome everyone on the Q2 FY26 Jindal Steel concall. Without taking any much time, I'll hand it over to Vishal Chandra, who is the head II for the team. Over to you, Vishal.

Vishal Chandra

Thank you very much Vikas hosting us.

Ladies and gentlemen, good afternoon and welcome to the Q2 FY26 earnings, briefing for Jindal Steel Limited.

We have with us, senior management of Jindal Steel.

We have, Mr Sabyasachi Bandyopadhyay, whole time director, Mr Pankaj Malhan, executive director, Mr. Sunil Agrawal, CFO.

We, I am, also happy to introduce to, everyone our new CEO. So please join me in welcoming, Mr. Gautam Malhotra, who has

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