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 FY2026 saw 15% year-on-year delivery growth, strong EBITDA and PAT gains, and robust demand across key sectors. Expansion projects and sustainability initiatives progressed, while guidance remains unchanged amid regulatory and global trade uncertainties.
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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 revenue up 2% QoQ and net debt down 11%. Volume guidance was revised to 10%-15% due to global headwinds, while Chromeni ramp-up and infrastructure demand are expected to drive future growth.
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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.