THEBUSINESSBYTES BUREAU

NEW DELHI, OCTOBER 23, 2026

Jindal Steel on Friday reported a 21 per cent year-on-year increase in consolidated net profit to ₹771 crore for the September quarter of FY27, buoyed by a sharp rise in sales volumes and improved realisations.

The Naveen Jindal-owned steelmaker had reported a net profit of ₹1,646 crore in the corresponding quarter of the previous fiscal, according to its exchange filing.

The company's total income rose 26 per cent to ₹15,289.20 crore in the July-September quarter, compared with ₹12,119.03 crore a year earlier. Gross revenue, including GST and other income, surged 44 per cent year-on-year to ₹19,448 crore from ₹13,505 crore in the year-ago period.

Revenue also gained 9 per cent sequentially, supported by higher sales volumes and improved blended realisations. Average selling prices strengthened quarter-on-quarter, aided by a higher share of flat steel products in the overall sales mix and lower sales of thermo-mechanically treated (TMT) bars within the long products segment, the company said. Domestic sales accounted for 92 per cent of total sales during the quarter.

Operational performance remained robust, with crude steel production holding steady at 2.40 million tonnes (MT) sequentially despite the monsoon season, marking a 20 per cent increase from 2 MT in the year-ago quarter. Sales volumes climbed 27 per cent year-on-year to 2.38 MT from 1.87 MT, supported by inventory liquidation.

The company also strengthened its balance sheet during the quarter. Consolidated net debt declined to ₹14,786 crore as of September-end from ₹15,927 crore at the end of June. The net debt-to-EBITDA ratio improved to 1.51 times from 1.71 times over the same period. Capital expenditure during the quarter stood at ₹1,228 crore.

On the infrastructure front, Jindal Steel commissioned the 192-km Barbil-Angul slurry pipeline, backed by an iron ore slurry-making and pumping complex with a capacity of 18 million tonnes per annum. The integrated system is expected to improve raw-material transportation efficiency while reducing road congestion, fuel consumption and associated emissions.

The company also entered the Guinness World Records for the world's longest road built exclusively using processed steel slag. The 1.85-km, four-lane road in Raigarh, Chhattisgarh, developed in collaboration with the CSIR-Central Road Research Institute, highlights the potential use of steelmaking by-products in road infrastructure and supports the company's circularity initiatives.