Jindal Stainless Limited · NSE:JSL
Jindal Stainless — H1 FY27 Earnings Presentation
19 slides from Jindal Stainless's earnings presentation, Oct 22, 2026
Slide 1: Regulation 30 intimation to BSE and NSE
22nd October, 2026 BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot no. C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai – 400 001 Mumbai-400051 Ema
Slide 2: Q2 & H1 FY27 Earnings Presentation
JINDAL STAINLESS LTD Q2 & H1 FY27 Earnings Presentation October 22, 2026
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which has been prepared by Jindal Stainless Limited (referred to “respective company (ies)”) for this joint earning presentation, are purely for information purposes only and is not, and is not intended to be, an offer, o
Slide 4: Q2 & H1 FY27 at a Glance
Q2 & H1 FY27 at a Glance Q2FY27 Revenue EBITDA PAT 12,874 Cr. ▲ 18% YoY 1,433 Cr. ▲ 3% YoY 898 Cr. ▲ 11% YoY “ We delivered growth in Q2, building on the recovery from Sales volume (KT) the geopolitical crisis that 664k impacted operations in Q1. ▲ 3% YoY Performance was underpinned by resilient dom
Slide 5: Business Highlights
Business Highlights • CARE upgraded rating on the long-term borrowings to AA+ (Stable) from AA; reaffirmed rating on • short-term borrowings at A1+ • Developed India's first high-aluminium stainless steel grade, for catalytic converters • Technical Assistance Agreement with JFE Steel, Japan to stren
Slide 6: Sales Volume Distribution
Sales Volume Distribution Sales Volume (KT) Geography Mix Domestic Export +3% +14% 91% 95% 93% 89% 89% 648 650 642 664 581 9% 5% 7% 11% 11% Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Series Mix 34% 38% 38% 35% 37% 49% 45% 43% 47% 47% 17% 17% 19% 18% 17% Q2FY26 Q3FY26 Q4FY2
Slide 7: Financial Performance
Financial Performance Revenue & Avg. Realizations/t EBITDA & EBITDA/t 194.2k 193.8k 21.4k 21.7k 22.7k 22.9k 21.6k 168.1k 176.7k 161.8k 11,337 11,279 12,874 1,388 1,408 1,455 1,329 1,433 10,893 10,518 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 PAT +11% +17% 808 828 834 769
Slide 8: Robust Financial Position
Robust Financial Position Net Worth & Net Debt Net Debt Ratios Net Worth* Net Debt# Net Debt#/ EBITDA Net Debt#/Equity 0.86x 21,281 19,882 16,708 0.55x 0.55x 0.24x 3,991 3,040 3,121 0.15x 0.15x Mar’25 Mar’26 Sep’26 Mar’25 Mar’26 Sep’26 ROE 16% 17% 17% Mar’25 Mar’26 Sep’26 7 Note: #Net debt includes
Slide 9: Market Update
Market Update Infrastructure • Stainless steel usage in infrastructure— Process Industry Railways – wagons, coaches metros particularly in flyovers, ROBs, and FOBs is on the rise, supporting demand • The Oil & Gas, and Power segment to see some • Healthy demand from Metro projects in Q2 growth. The
Slide 10: Q2 & H1 FY27 Earnings call
Q2 & H1 FY27 Earnings call CONCALL INVITE Jindal Stainless Limited Q2 & H1 FY27 Results conference call on Friday, 23rd October 2026 at 15:00 hrs IST Represented by Senior Management of Jindal Stainless Limited Diamond Pass registration link: Copy this URL in your browser: Link Universal Dial-in Num
Slide 11: Annexures
Annexures
Slide 12: Abridged P&L Statement
Abridged P&L Statement YoY QoQ YoY Particular (Rs. Crore) Q2FY27 Q2FY26 Q1FY27 H1 FY27 H1 FY26 Change (%) Change (%) Change (%) Revenue from operations 12,874 10,893 18% 11,279 14% 24,152 21,100 14% Total Expenditure 11,441 9,505 9,949 21,390 18,402 EBITDA 1,433 1,388 3% 1,329 8% 2,762 2,698 2% Othe
Slide 13: External Debt & Key Ratios
External Debt & Key Ratios As on As on As on Sep’26 Mar’26 Borrowings September March March 2026 2026 2025 0.55 0.55 Debt Long term debt 4,839 4,776 5,169 Short term debt 2,135 1,466 1,107 0.15 0.15 Total Debt 6,975 6,242 6,275 Cash & Bank balances 3,854 3,203 2,284 Net Debt 3,121 3,040 3,991 Net De
Slide 14: Scheme of Amalgamation - Overview
Scheme of Amalgamation - Overview Jindal United Steel Stainless steel hot rolling (3.2 MTPA) and cold rolling The Scheme aims to: Limited (JUSL) (0.2MTPA) in Jajpur, Odisha ▪ Simplify the Group structure through consolidation of wholly owned subsidiaries Chromeni Steels ▪ Eliminate inter-company 0.6
Slide 15: Scheme of Amalgamation - Structure
Scheme of Amalgamation - Structure Current Structure Post-Restructuring Structure 100% JSL Evergreat Singapore JSL 54% India 100% 100% 100% 46% Overseas 100% RVPL JSL SSL JUSL CSL Evergreat Singapore Amalgamating companies – to merge into JSL 14
Slide 16: Key Raw Materials - Price trend
Key Raw Materials- Price trend Nickel (USD/t) 1.9% +10.4% 22,308 20,401 17,288 16,589 18,413 16,259 16,038 17,356 18,131 16,573 15,571 15,166 15,015 14,892 -8.6% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Note: Average quarterly prices; Source:
Slide 17: Shareholding Pattern
Shareholding Pattern FII 20.1% Promoters Other 62.6% 37.4% Retails & others 9.6% DII 7.7% 16 Note: Shareholding pattern for the period ended 30th September 2026
Slide 18: Contact Us
Contact Us About Us: India’s leading stainless-steel manufacturer, Jindal Stainless, had an annual turnover of INR 42,955 crore (USD 4.86 billion) in FY26 and an annual melt capacity of 4.2 million tonnes. It has 16 stainless steel manufacturing and processing facilities in India and abroad, includi
Slide 19: Thank You
Thank You 18