India · Delayed Price · Currency is INR Jindal Stainless Earnings Call Transcripts
Fiscal Year 2026
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Sales and profitability grew strongly in FY 2026, with EBITDA up 19% and PAT up 27% year-over-year. FY 2027 guidance targets 7–9% volume growth and INR 18,000–20,000 EBITDA per ton, despite cost pressures and regulatory headwinds.
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Q3 FY26 saw 11% year-on-year sales volume growth and strong domestic demand, offsetting export declines due to global uncertainties. EBITDA and PAT rose 17% and 23% year-on-year, with robust financial ratios and ongoing sustainability achievements.
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Q2 FY26 saw 15% year-on-year delivery growth, strong EBITDA and PAT gains, and robust demand across key sectors. Guidance remains unchanged amid global and regulatory uncertainties, with continued focus on sustainability and disciplined financial management.
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Q1 FY26 saw 8% YoY sales volume growth and 8% YoY EBITDA increase, driven by strong domestic demand and value-added product mix. CapEx guidance is INR 2,700 crores for FY26, with robust sustainability progress and a focus on domestic markets amid global trade volatility.
Fiscal Year 2025
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Record sales and robust domestic demand drove FY 2025 growth, with EBITDA at INR 4,667 crore and net debt stable despite significant CapEx. FY 2026 guidance targets INR 19,000-21,000 crore EBITDA, 9-10% volume growth, and continued export recovery.
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Q3 FY25 saw record sales and 15% YoY volume growth, driven by strong domestic demand and value-added products, while exports remained subdued due to weak global markets. Financials were robust with stable EBITDA, low leverage, and continued investment in capacity and sustainability.
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Stable domestic growth offset weak exports, with Q2 sales volume up 4% YoY and revenue up 2% QoQ. Volume guidance was revised to 10%-15% due to global headwinds, while EBITDA per ton is maintained at INR 18,000. Chromeni ramp-up and prudent capital management remain key priorities.
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Q1 FY25 saw record sales volume and strong financial growth, with EBITDA and PAT up ~20% QoQ. Management maintains 20% volume growth and INR 18,000–20,000 EBITDA/ton guidance for FY25, supported by robust domestic demand, new capacity, and export initiatives.