Jindal Stainless Limited · NSE:JSL
Jindal Stainless — Q3 FY26 Earnings Presentation
18 slides from Jindal Stainless's earnings presentation, Jan 21, 2026
Slide 1: Stock exchange intimation letter, Regulation 30
21st January, 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, Bandra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai-400051 Ph.
Slide 2: Jindal Stainless Ltd Q3 & 9M FY26 Earnings Presentation
JINDAL STAINLESS LTD Q3 & 9M FY26 Earnings Presentation January 21, 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: Operational and Financial Performance
Operational and Financial 3 Performance
Slide 5: Key Financials Highlights
Key Financials Highlights Sales Composition – Q3 FY26 Export 5% Sales Volume (‘000 MT*) 1,924 1,730 Domestic 95% 588 648 650 Sales Composition – 9M FY26 Export 8% Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Shift (%) QoQ: 0% YoY: 11% YoY: 11% Domestic 92% Note: Standalone Sales Volume 4 MT- Metric Ton
Slide 6: Key Financials Highlights-Consolidated
Key Financials Highlights-Consolidated Net Revenue 31,617 EBITDA 4,106 29,114 3,606 9,907 10,893 10,518 1,208 1,388 1,408 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 H1 FY25 H1 FY26 Shift (%) QoQ: -3% YoY: 6% YoY: 9% Shift (%) QoQ: 1% YoY: 17% YoY: 14% PAT 2,350 1,910 808 828 654
Slide 7: Key Financials Highlights-Standalone
Key Financials Highlights-Standalone Net Revenue 31,854 EBITDA 29,396 3,211 3,015 10,066 10,881 10,632 1,003 1,060 1,103 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 H1 FY25 H1 FY26 Shift (%) QoQ: -2% YoY: 6% YoY: 8% Shift (%) QoQ: 4% YoY: 10% YoY: 7% PAT 1,951 1,786 619 644 666 Q
Slide 8: External Debt & Key Ratios
External Debt & Key Ratios As on As on As on Mar'25 Dec'25 Borrowings Dec. March March (Consolidated) 0.86 2025 2025 2024 Debt 0.67 Long term debt 4,827 5,169 5,222 Short term debt 1,211 1,107 704 0.24 0.18 Total Debt 6,039 6,275 5,926 Cash & Bank balances 2,587 2,284 1,992 Net Debt 3,451 3,991 3,93
Slide 9: JUSL Performance
JUSL Performance EBITDA 587 Interest Cost 536 132 131 191 205 190 44 44 44 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 PAT Net Debt 261 220 1,731 1,715 1,450 84 93 86 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Mar'24 Mar'25 Dec'25 All figures in INR. crore unless sta
Slide 10: Market Update
Market Update Railways – wagons, coaches Infrastructure metros • Stainless steel usage in infrastructure— • Healthy coach demand in Q3 FY26, particularly in flyovers, ROBs, and FOBs Process Industry driven by Vande Bharat sleeper trainsets, Metro and Indian Railways' is on the rise, supporting deman
Slide 11: Key Raw Materials- Price trend
Key Raw Materials- Price trend Nickel (USD/MT) 22,308 20,401 17,288 18,413 16,589 16,259 16,038 15,571 15,166 15,015 14,892 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Note: Average quarterly prices; Source: LME Ferrochrome (INR/MT) 1,16,715 1,14,881 1,10,
Slide 12: Q3 & 9M FY26 Earnings call
Q3 & 9M FY26 Earnings call CONCALL INVITE Jindal Stainless Limited Q3 & 9M FY26 Results conference call on Thursday, 22nd January 2026 at 16:30 hrs IST Represented by Senior Management of Jindal Stainless Limited Diamond Pass registration link: Copy this URL in your browser: Link Copy this URL in yo
Slide 13: Annexure
Annexure 12
Slide 14: Abridged P&L Statement (Consolidated)
Abridged P&L Statement (Consolidated) YoY QoQ YoY Particular (Rs. Crore) Q3FY26 Q3FY25 Q2FY26 9M FY26 9M FY25 Change (%) Change (%) Change (%) Revenue from operations 10,518 9,907 6% 10,893 (3%) 31,617 29,114 9% Total Expenditure 9,110 8,700 5% 9,505 (4%) 27,512 25,508 8% EBITDA 1,408 1,208 17% 1,38
Slide 15: Abridged P&L Statement (Standalone)
Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. Crore) Q3FY26 Q3FY25 Q2FY26 9M FY26 9M FY25 Change (%) Change (%) Change (%) Revenue from operations 10,632 10,066 6% 10,881 (2%) 31,854 29,396 8% Total Expenditure 9,529 9,062 5% 9,821 (3%) 28,643 26,381 9% EBITDA 1,103 1,003 10% 1,060
Slide 16: Shareholding Pattern
Shareholding Pattern Floating Stock % FII 21.5% Promoters Other 61.2% 38.8% Retails & others 10.0% DII 7.2% 15 Shareholding pattern for the period ended 31st December 2025
Slide 17: Contact Us
Contact Us About Us: India’s leading stainless steel manufacturer, Jindal Stainless, had an annual turnover of INR 40,182 crore (USD 4.75 billion) in FY25 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27. It has 16 stainless steel manufacturing and process
Slide 18: Thank You
Thank You 17