Jindal Steel Limited · NSE:JINDALSTEL
Jindal Steel — Q1 FY2027 Earnings Presentation
27 slides from Jindal Steel's earnings presentation, Jul 24, 2026
Slide 1: Exchange filing cover letter
July 24, 2026 BSE Limited National Stock Exchange of India Limited 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, Bandra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai-400051 corp.
Slide 2: Jindal Steel Ltd. Q1FY27 Earnings Presentation
Jindal Steel Ltd. (erstwhile Jindal Steel & Power Ltd.) Q1FY27 Earnings Presentation 24th July 2026
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation may contain certain forward looking statements concerning steel sector, economy and Jindal Steel Limited future business prospects and profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from
Slide 4: Jindal Steel – Building a Nation of our Dreams
Jindal Steel – Building a Nation of our Dreams Growth Focussed Strong Financials Sustainability Driven Industry 4.0 & AI • Scaling up world-class, integrated • Best in class balance sheet • World's first and largest coal • Enterprise AI Transformation — steel production capacity gasification plant f
Slide 5: World class assets – Built across an integrated value chain
World class assets – Built across an integrated value chain Iron Ore Iron Making Liquid Steel Finished Steel 13.61 ✓ # 17.02 15.60 ✓ # 13.75 MTPA MTPA MTPA MTPA 15.02 ✓ # 13.25 ✓ # 10.61 10.42 9.60 7.25 MTPA MTPA MTPA MTPA Iron-ore^ Steel Melting Shop (SMS) Flats Direct Reduce Iron (DRI) 3.11 MTPA 7
Slide 6: Consolidated performance highlights – Q1FY27
Consolidated performance highlights – Q1FY27 INR 17,834 cr 2,667 cr INR 844 cr Performance highlights Gross Revenue Adjusted EBITDA Profit after Tax 2.40 MT 2.23 MT 1.71x Production Sales Net Debt to EBITDA Other key highlights • CARE ratings upgraded the long-term credit rating from AA/stable to AA
Slide 7: CY26 demand outlook – India remains the strongest growth market
CY26 demand outlook – India remains the strongest growth market World China India Industry update 1,780 2% 3% 800 -1% 0% 0% 195 9% 12% 0% 8% 7% -2% -7% 180 1,755 775 -5% 6% -2% 165 1,730 750 -10% 0% 150 -7% 1,762 1,724 1,718 1,705 725 -15% -6% 784 784 796 160 135 187 172 1,680 -12% 700 -20% 120 -12%
Slide 8: China's supply discipline strengthens, but demand continues to weaken
China's supply discipline strengthens, but demand continues to weaken Crude Steel Production Steel Demand (Apparent Steel Consumption) Industry update 8% 7% 7% 7% 1,100 10% 1200 18% 9% 8% 9% 1,000 0% -3% 1% 5% 4% -2% -3% -5% 1000 1% -3% 8% 900 0% -4% -3% -5% -9% -6% -7% 800 -2% 800 -5% 761 767 794 8
Slide 9: India steel scenario – Q1FY27
India steel scenario – Q1FY27 Crude Steel Production (mt) Finished Steel Consumption (mt) • Crude steel production declined 6% QoQ to 42.0 MT in Q1FY27, though 3% Industry update +11% +8% higher YoY. 169.2 152.0 152.0 164.2 • Finished steel consumption was also +3% +8% lower 7% QoQ to 41.5 MT in Q1F
Slide 10: Resilient HRC prices supported spreads amidst rising input costs
Resilient HRC prices supported spreads amidst rising input costs HRC: India domestic and Export FOB Coking Coal: Premium HCC (CNF Australia origin) HRC premium to TMT (INR/t) HCC (USD/t) Q1FY26 Q4FY26 Q1FY27 Abs YoY Abs QoQ 8,000 7,050 Industry update HRC (INR/t) Q1FY26 Q4FY26 Q1FY27 Abs YoY Abs QoQ
Slide 11: Operational highlights – Q1FY27
Operational highlights – Q1FY27 Crude Steel Production (mt) Sales (mt) Operational highlights Flats as a % of +14% 44% 52% 53% 43% 49% total sales volume 9.25 +9% 8.12 8.68 7.97 +14% +17% -10% -15% 2.65 2.40 2.62 2.09 1.90 2.23 Q1FY26 Q4FY26 Q1FY27 FY25 FY26 Q1FY26 Q4FY26 Q1FY27 FY25 FY26 Domestic S
Slide 12: Diversified product portfolio with strong value-added mix
Diversified product portfolio with strong value-added mix Sector wise Sales distribution TMT Sales Distribution, in ‘000 tonnes Operational highlights Number of 4,835 5,702 5,888 3% 2% 3% dealers 14% 21% 18% 534 621 528 11% 11% 19% 33% 46% 47% 35% 29% 68% 40% 31% 31% 54% 53% 32% Q1FY26 Q4FY26 Q1FY27
Slide 13: Supporting India's infrastructure build-out
Supporting India’s infrastructure build-out 7 Operational highlights HPCL Refinery IOCL Gujarat Refinery Amazon Data Centre Rajasthan Gujarat Telangana Jewar Airport RVNL Tunnel Jodhpur Airport Uttar Pradesh Uttarakhand Rajasthan © 2026 Jindal Steel. All rights reserved.
Slide 14: Steel products: End use applications
Steel products: End use applications 7 Operational highlights Defense (Tank Body Structural Beams Automotive Application) Yellow Goods Shipbuilding Coal Gasifier Equipment Slide 13 © 2026 Jindal Steel. All rights reserved.
Slide 15: AI driven transformation
AI driven transformation AI agents going live across multiple areas: spanning people, processes and plants Digital and AI Personal AI Functional AI Industrial AI Transforming how work gets Empowering every individual Intelligence on the plant floor done Department agents that speed decisions Physica
Slide 16: Digital transformation
Digital transformation Building an intelligent, connected and integrated steel enterprise Digital and AI Plant Automation Smart Plant & Logistics Intelligent Functions Connected Workforce AI Based Prediction Models Integrated Terminal Customer Self Service portal JARVIS: Jindal’s Virtual AI for Blas
Slide 17: ESG achievements and plan
ESG achievements and plan • Expanded syngas deployment from the coal gasification based DRI route to galvanising, colour coating and blast furnace applications Sustainability Syngas Integration • Improved fuel flexibility by reducing dependence on imported natural gas, LPG and coking coal • Strength
Slide 18: Social impact across key themes
Social impact across key themes 6,62,464 3,23,604 2,00,580 34,100 10,437 No. of Community Provided With Clean Community Members Women and Children Animals provided with CSR Members Benefited Water Benefited Catered Coverage 10,000 7,576 6,297 5,870 4,762 Members Provided with Elderly Individuals Stu
Slide 19: Awards & Accolades
Awards & Accolades • Bharat CSR & Sustainability Summit & Awards • Zero Harm Safety Culture Award • CSR Journal • Energy Management System ISO 50001 – 2018 • Golden Peacock CSR Excellence Award Certification Awards Award • AIBCF CSR & • NAMC Gold Award 2025-26 • National CSR Award Sustainability Awa
Slide 20: Q1FY27 Highlights – Consolidated
Q1FY27 Highlights – Consolidated Financials ₹ 17,834 cr ₹ 2,667 cr ₹ 11,937 ₹ 844 cr Gross revenue* Adjusted EBITDA# Adjusted EBITDA per ton PAT Q4FY26 - ₹ 19,399 cr Q4FY26 - ₹ 2,647 cr Q4FY26 - ₹ 10,093 Q4FY26 - ₹ 1,041 cr Q1FY26 - ₹ 14,336 cr Q1FY26 - ₹ 2,984 cr Q1FY26 - ₹ 15,680 Q1FY26 - ₹ 1,496
Slide 21: Financial performance – Consolidated
Financial performance – Consolidated INR cr Quarterly Performance Financials Particulars Q1FY27 Q4FY26 Q1FY26 Gross Revenue* 17,834 19,399 14,336 Net Revenue 15,501 16,484 12,325 Adjusted EBITDA** 2,667 2,647 2,984 Depreciation & Amortization 926 862 722 Finance Cost (net) 548 442 297 Profit before
Slide 22: Key factors influencing the consolidated performance – Q1FY27
Key factors influencing the consolidated performance – Q1FY27 All figures in INR Cr Key factors Financials Volumes • Production volume was down sequentially due to planned maintenance shutdown • Sales volume declined QoQ commensurate with production Revenue / NSR • Net Revenue was lower QoQ driven b
Slide 23: Financial performance – Standalone
Financial performance – Standalone INR cr Quarterly Performance Financials Particulars Q1FY27 Q4FY26 Q1FY26 Gross Revenue* 17,565 18,803 14,506 Net Revenue 15,292 16,200 12,436 Adjusted EBITDA** 2,227 1,705 2,859 Depreciation & Amortization 620 606 578 Finance Cost (net) 147 441 97 Profit before tax
Slide 24: Q1FY27 Net debt and EBITDA bridge
Q1FY27 Net debt and EBITDA bridge Consolidated Net Debt Movement (INR cr) Financials 16,019 1,125 -1,119 15,927 -268 170 As at 31st Mar’26 Long term Long term debt Short term loans Change in C&CE As at 30th Jun’26 debt raised repayment Consolidated Adjusted EBITDA Movement (INR cr) 80 -393 2,647 1,3
Slide 25: Prudent capital investment, primarily funded through internal accruals
Prudent capital investment, primarily funded through internal accruals Net Debt (INR cr) Cumulative Capex (INR cr) Financials -56% 35,918 22,146 8,876 6,953 11,203 11,957 16,019 15,927 1,665 2,515 5,304 11,752 20,269 30,876 40,450 42,409 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Q1FY27 FY20 FY21 FY22 FY23
Slide 26: Capital allocation framework – status update
Capital allocation framework – status update Our commitment Current status Financials ➢ Continue to invest in steel & ancillary business ➢ Continue to invest - Angul expansion Scope & area of (mines, power, ports) with green-tech primarily • Angul expansion to 12 MT completed operations in India (or
Slide 27: Investor Relations Contact
Investor Relations Contact: ir@jindalsteel.in Corporate Office: Jindal Centre 12, Bhikaiji Cama Place, New Delhi Website – www.jindalsteel.in © 2026 Jindal Steel. All rights reserved.