Jindal Steel Limited · NSE:JINDALSTEL
Jindal Steel — Q1 FY2026 Earnings Presentation
34 slides from Jindal Steel's earnings presentation, Aug 12, 2025
Slide 1: Jindal Steel Ltd. Q1FY26 Earnings Presentation
Jindal Steel Ltd. (erstwhile Jindal Steel & Power Ltd.) Q1FY26 Earnings Presentation 12th August 2025
Slide 2: 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 business profitability, which are subject to a number of risks and uncertainties and the actual results could materially dif
Slide 3: Building a Nation of Our Dreams
BUILDING A NATION OF OUR DREAMS Over 3 Decades Of Excellence
Slide 4: Jindal Steel – Building a Nation of our Dreams
Jindal Steel – Building a Nation of our Dreams Growth Focussed Strong Financials Sustainability Driven • Scaling up world-class, integrated • Best in class balance sheet • World's first and largest coal steel production capacity gasification plant for steel-making • Most diversified product portfoli
Slide 5: World class assets – On the cusp of transformative expansion
World class assets – On the cusp of transformative expansion Iron Ore Iron Making Liquid Steel Finished Steel 13.61 17.02 15.60 13.75 MTPA MTPA MTPA MTPA 10.61 10.42 9.6 7.25 MTPA MTPA MTPA MTPA Iron-ore Flats Direct Reduce Iron (DRI) Steel Melting Shop (SMS) 3.11 MTPA 7.5 MTPA 3 MTPA 2.5 3.0 MTPA T
Slide 6: Diversified across Strategic locations
Diversified across Strategic locations Angul (Odisha) Raigarh (Chhattisgarh) Patratu (Jharkhand) Barbil (Odisha) BF 4.25 MTPA 8.85 MTPA BF 3.05 MTPA Wire Rod Mill 0.60 MTPA Pellet Plant 9 MTPA DRI 1.8 MTPA 3.8 MTPA DRI 1.32 MTPA Bar Rod Mill 1.0 MTPA SMS 6 MTPA 12.0 MTPA SMS 3.6 MTPA Plate Mill 1.5
Slide 7: Agenda
Agenda Performance Highlights Industry Update Operational Highlights CSR Financials Projects Update © 2025 Jindal Steel. All rights reserved.
Slide 8: Performance Highlights
JinvaL? STEEL Ls 44 Performance Highlights cS ar G44 [Al
Slide 9: Consolidated performance highlights – Q1FY26
Consolidated performance highlights – Q1FY26 INR 14,336 cr INR 2,984 cr INR 1,496 cr Gross Revenue Adjusted EBITDA Profit after Tax 2.09 MT 1.90 MT 1.49x Production Sales Net Debt to EBITDA Other key highlights • The following key facilities were commissioned at Angul : − Continuous Galvanizing Line
Slide 10: Industry Update
Ls 44 cS ar G44 [Al Industry Update
Slide 11: India at the forefront of Global Steel growth
India at the forefront of Global Steel growth World China India 160 15% 20% 1780 20% 900 20% 8% 8% 150 1770 10% 10% -1% -1% 1% 10% 880 140 1760 -3% -3% -1% 0% 0% 130 0% 1750 1,767 120 1,772 -10% 860 1,751 1740 -10% -10% 860 869 896 110 156 143 133 1730 -20% 840 -20% 100 -20% CY23 CY24E CY25E CY23 CY
Slide 12: China steel exports near record high amid weak domestic demand
China steel exports near record high amid weak domestic demand Crude Steel Production Steel Demand (Apparent Steel Consumption) 1,200 8% 7% 6% 9% 1200 9% 8% 9% 18% 1,000 4% 4% -3% 0% -1% -2% 1% 1000 1% 8% -1% -4% -3% -3% -2% -3% -6% 800 -1% 800 -2% 869 873 862 928 993 1,054 1,031 1,016 1,024 991 761
Slide 13: India Steel: Scaling capacity, sustaining demand momentum
India Steel: Scaling capacity, sustaining demand momentum Crude Steel Capacity and Utilisation % Crude Steel Production Finished Steel Consumption 155 20% 210 85% 155 13% 14% 15% 16% 11% 12% 83% 13% 15% 80% 135 135 9% 10% 190 81% 8% 79% 78% 79% 9% 6% 10% 77% 115 115 5% 170 77% 5% 6% 5% 3% 75% 75% 74
Slide 14: Early monsoon softened demand in Q1FY26
Early monsoon softened demand in Q1FY26 Crude Steel Production (mt) Finished Steel Consumption (mt) India remains net importer in Q1FY26 • During Q1FY26, While Crude steel +9% +10% production was up 1% QoQ, finished steel 80.7 production was down 2% in the same 74.1 78.6 +11% +8% 71.8 period. Flat/L
Slide 15: Safeguard duty supported steel prices in Q1FY26
Safeguard duty supported steel prices in Q1FY26 HRC: India domestic and Export FOB Coking Coal: Premium HCC (CNF Australia origin) • Domestic HRC and TMT prices HRC (INR/t) Q1FY25 Q4FY25 Q1FY26 Abs YoY Abs QoQ HCC (USD/t) Q1FY25 Q4FY25 Q1FY26 Abs YoY Abs QoQ have shown mixed trends during Dom Mum 53
Slide 16: Operational Highlights
JinvaL? STEEL Ls 44 Operational Highlights cS ar G44 [Al
Slide 17: Production remained stable in Q1FY26
Production remained stable in Q1FY26 Crude Steel Production (mt) Sales (mt) +2% Flats as a % of -1% total sales volume 43% 42% 44% 2.05 2.11 2.09 -9% -10% 2.09 2.13 1.90 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Domestic Sales (mt) Exports (mt) -9% Export as a % of 7% 3% 7% -14% total sales volume 2
Slide 18: Best in class product portfolio with high share of value-add sales
Best in class product portfolio with high share of value-add sales Sector wise Sales distribution TMT Sales Distribution, in ‘000 tonnes Share of Number of 58% 64% 72% 3,384 4,912 5,081 VAS dealers 3% 4% 3% 563 598 534 14% 14% 14% 9% 12% 11% 51% 52% 52% 35% 34% 33% 39% 36% 40% 49% 48% 48% Q1FY25 Q4F
Slide 19: Powering India's landmark infrastructure
Powering India’s landmark infrastructure Pamban Bridge Delhi Mumbai Expressway Noida International Airport Ganga Expressway Jindal Global University Sports Complex Chenab Bridge Partnering in nation-building; aligned with the “Viksit Bharat” vision Image Source - Google Slide 19 © 2025 Jindal Steel.
Slide 20: CSR
Ls 44 cS ar G44 [Al CSR
Slide 21: Empowering communities – Q1FY26 progress
Empowering communities – Q1FY26 progress Environment and agriculture Health & Nutrition Sustainable livelihood & Sports women empowerment • Natural Farming: Supported • Facilitated Health Care for • Empowered 4,908 women and • 783 athletes trained across 2,128 farmers in adopting 51,108 mothers and
Slide 22: Awards and Recognitions
Awards and Recognitions • Greentech Award for Excellence 2025 in 2 Categories in Agriculture Promotion and in Welfare of Elder Persons • CSR Times Award 2025 for Nourishing Sports Talent of Rural and Tribal Youth • 7th ICC CSR Impact Award 2025 in two categories: Winners Trophy for Jindal Asha; Spec
Slide 23: Financials
Ls 44 cS ar G44 [Al Financials
Slide 24: Q1FY26 Highlights – Consolidated
Q1FY26 Highlights – Consolidated ₹ 14,336 cr ₹ 2,984 cr ₹ 15,680 ₹ 1,496 cr Gross revenue* Q1FY26 Adjusted EBITDA# Q1FY26 Adjusted EBITDA per ton Q1FY26 PAT Q1FY26 Q4FY25 - ₹ 15,525 cr Q4FY25 - ₹ 2,482 cr Q4FY25 - ₹ 11,651 Q4FY25^ - ₹ 1,099 cr Q1FY25 - ₹ 15,788 cr Q1FY25 - ₹ 2,831 cr Q1FY25 - ₹ 13,5
Slide 25: Q1FY26 Net Debt and EBITDA bridge
Q1FY26 Net Debt and EBITDA bridge Consolidated Net Debt Movement (INR cr) 14,400 11,957 707 483 -443 1,696 As at 31st Mar’25 Long term Short term loans Long term debt Change in C&CE As at 30th Jun’25 debt raised repayment Consolidated Adjusted EBITDA Movement (INR cr) 2,984 2,482 249 26 -232 459 Q4F
Slide 26: Best in class Balance Sheet to drive Sustainable growth
FY20 35,918 FY21 22,146 FY22 8,876 Net Debt (INR cr) FY23 6,953 Slide 26 FY24 11,203 Q1FY25 10,462 -60% Q2FY25 12,464 Q3FY25 13,551 Q4FY25 11,957 Q1FY26 14,400 © 2025 Jindal Steel. All rights reserved. FY20 4.56 FY21 1.53 FY22 0.57 FY23 0.70 Net Debt/EBITDA (x) FY24 0.70 -67% Q1FY25 1.00 Q2FY25 1.21
Slide 27: Capital allocation framework – status update
Capital allocation framework – status update Our commitment Current status • Continue to invest in steel & ancillary business ✓ Continue to invest - Angul expansion Scope & area of (mines, power, ports) with green-tech • CGL - 1 commissioned operations • Primarily in India (organic + inorganic) • Ro
Slide 28: Financial performance – Consolidated
Financial performance – Consolidated INR cr Quarterly Performance Particulars Q1FY26 Q4FY25 Q1FY25 Gross Revenue* 14,336 15,525 15,788 Net Revenue 12,325 13,255 13,652 Adjusted EBITDA** 2,984 2,482 2,831 Depreciation + Amortization 722 691 683 Finance Cost (net) 297 342 332 PBT (before exceptional)
Slide 29: Financial performance – Standalone
Financial performance – Standalone INR cr Quarterly Performance Particulars Q1FY26 Q4FY25 Q1FY25 Gross Revenue* 14,506 15,267 14,929 Net Revenue 12,436 13,087 12,865 Adjusted EBITDA** 2,859 2,416 2,694 Depreciation + Amortization 578 564 564 Finance Cost (net) 97 137 183 PBT (before exceptional) 2,1
Slide 30: Key factors influencing the Consolidated performance – Q1FY26
Key factors influencing the Consolidated performance – Q1FY26 All figures in INR Cr Key factors • Production volume stable QoQ Volumes • Sales volume down 10% QoQ on account of replenishment of inventory after excessive drawdown in Q4FY25, a seasonally strong quarter Revenue / NSR • Net Revenue decl
Slide 31: Projects Update
Ls 44 cS ar G44 [Al Projects Update
Slide 32: Angul Expansion update (1/2)
Angul Expansion update … (1/2) Blast Furnace - 2 Basic Oxygen Furnace – 2 • Gas stoves heating completed • Furnace is undergoing pre-commissioning tests • First Hot Metal tapping expected in Q2FY26 Slide 32 © 2025 Jindal Steel. All rights reserved.
Slide 33: Angul Expansion update (2/2)
Angul Expansion update … (2/2) SBPP Coal pipe conveyor CRM complex 1st module of 525MW ready; CTO awaited 90% civil work completed CGL - 1 commissioned 2nd module commissioning in progress 75% structural work completed Progressive commissioning of various other lines in FY26 Utkal B1 1,710 TPD Slurr
Slide 34: Investor Relations Contact
Investor Relations Contact: ir@jindalsteel.com © 2025 Jindal Steel. All rights reserved.