Q3 2026 Jindal Stainless Ltd Earnings Call Transcript
Key Points
- Sales volume in Q3 FY26 grew by 11% year-on-year, supported by sustained domestic demand.
- Jindal Stainless Ltd (BOM:532508) achieved an S&P Global Corporate Sustainability Assessment score of 78 out of 100, ranking among the top 5% in the steel sector globally.
- Consolidated EBITDA increased by around 17% year-on-year, reflecting strong financial performance.
- The company reported a significant reduction in net debt to INR3,451 crores, with a net debt-to-EBITDA ratio at 0.67.
- Jindal Stainless Ltd (BOM:532508) announced an interim dividend payment for FY26, reflecting strong shareholder returns.
- Global trade sentiment remains subdued due to ongoing uncertainties and protectionist measures in key western markets.
- Subsidized imported materials continue to enter the domestic market, posing challenges for quality-focused domestic industry players.
- The temporary suspension of quality control orders (QCO) is a concern, impacting the domestic industry's competitiveness.
- Export contributions to volume have sharply dropped due to geopolitical factors and uncertainty in international markets.
- The company faces challenges from rising raw material costs, such as nickel and ferrochrome, impacting profitability.
Ladies and gentlemen, good day, and welcome to Jindal Stainless Limited Q3 FY26 earnings call hosted by Prabhudas Lillladher Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Tushar Chaudhari from Prabhudas Lilladhar Private Limited. Thank you, and over to you, sir.
Thank you. Good evening, and a very warm welcome to everyone. On behalf of PL Capital, I am pleased to welcome you all on the Q3 FY26 earnings call of Jindal Stainless Limited.
We are happy to have the senior management of JDSL with us for next 2.5 hours. Management is represented by Mr. Abhyuday Jindal, Managing Director; Mr. Tarun Kumar Khulbe, CEO, CFO and Whole-Time Director; Ms. Shreya Sharma, Head of IR; and other senior management team. So we will begin with the opening remarks from the management, followed by an interactive Q&A session.
With this, I hand over the call to Ms. Shreya. Over to you, Shreya.
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