Q3 2026 Jindal Steel Ltd Earnings Call Transcript

Jan 31, 2026 / 08:30AM GMT

Transcript

Key Points

Positve

Jindal Steel Ltd (BOM:532286) achieved a 25% increase in total production quarter-on-quarter, reaching 2.51 million tonnes.
The company successfully synchronized and operationalized two SBPP modules, adding a total of 1,050 megawatts to their power capacity.
Jindal Steel Ltd (BOM:532286) reported a 22% increase in sales volume quarter-on-quarter, driven by higher production.
The company has been included in the S&P Global Sustainability Yearbook 2026, highlighting its commitment to ESG practices.
Jindal Steel Ltd (BOM:532286) expects a stronger Q4 FY26, supported by higher opening volumes, improved pricing, and better underlying steel demand.

Negative

The company faced a decline in domestic steel prices due to weak demand and pressure from low-priced Chinese steel exports.
Jindal Steel Ltd (BOM:532286) reported a one-time BF2 start-up cost of INR350 crores, impacting their EBITDA.
The blended steel NSR was down by about INR3,000 per tonne sequentially, affecting overall profitability.
Consolidated net debt increased to INR15,443 crores, reflecting lower EBITDA and CapEx commitments.
The company anticipates a rise in coal consumption costs by $18 to $20 per tonne sequentially in Q4 FY26.

Prateek Singh

IIFL Capital - Moderator

Thank you, ParI. Good afternoon, everyone, and welcome to the third quarter FY26 earnings call of Jindal Steel Limited. Without further ado, I will now hand over the call to Mr. Vishal Chandak, Head, Investor Relations and Strategic Finance, to introduce the management attendees and take it forward. Over to you, Vishal.

Vishal Chandak

Jindal Steel Ltd - Head - Investor Relations

Prateek, thank you very much. Thank you very much, ladies and gentlemen, and appreciate you coming over a weekend. I once again welcome you to the Q3 FY26 earnings briefing of Jindal Steel. We have with us senior management of the company, Mr. Gautam Malhotra, CEO; Mr. Sabyasachi Bandyopadhyay, Whole-Time Director; Mr. Pankaj Malhan, Executive Director, Angul; Mr. Sunil Agarwal, CFO; and Mr. Sushil Pradhan, Head, Flat Products.

I request all the participants to ask questions which are strategic in nature. And for any factual related queries, we are always there to help you out.

Without much ado, I will hand over the floor to

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