Jindal Stainless Limited · NSE:JSL
Jindal Stainless — H1 FY26 Earnings Presentation
18 slides from Jindal Stainless's earnings presentation, Nov 10, 2025
Slide 1: Exchange intimation letter under Regulation 30
10h November, 2025 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: Q2 & H1 FY26 Earnings Presentation
JINDAL STAINLESS LTD Q2 & H1 FY26 Earnings Presentation November 10, 2025
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 – Q2 FY26 Export 9% Sales Volume (‘000 MT*) 1,274 1,143 Domestic 91% 626 648 565 Sales Composition – H1 FY26 Export 9% Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Domestic Shift (%) QoQ: 3% YoY: 15% YoY: 12% 91% Note: Standalone Sales Volume 4 MT- Metric Ton
Slide 6: Key Financials Highlights-Consolidated
Key Financials Highlights-Consolidated Net Revenue EBITDA 2,698 21,100 2,398 19,207 1,310 1,388 9,777 10,207 10,893 1,186 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Shift (%) QoQ: 7% YoY: 11% YoY: 10% Shift (%) QoQ: 6% YoY: 17% YoY: 12% PAT 1,523 1,255 808 609 71
Slide 7: Key Financials Highlights-Standalone
Key Financials Highlights-Standalone Net Revenue EBITDA 2,011 2,108 21,221 19,331 10,881 1,007 1,048 1,060 9,746 10,341 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Shift (%) QoQ: 5% YoY: 12% YoY: 10% Shift (%) QoQ: 1% YoY: 5% YoY: 5% PAT 1,286 1,168 642 644 589 Q2
Slide 8: External Debt & Key Ratios
External Debt & Key Ratios As on As on As on Mar'25 Sep'25 Borrowings Sept March March (Consolidated) 0.9 2025 2025 2024 0.7 Debt Long term debt 4,891 5,169 5,222 Short term debt 1,301 1,107 704 0.2 0.2 Total Debt 6,192 6,275 5,926 Cash & Bank balances 2,545 2,284 1,992 Net Debt 3,646 3,991 3,934 Ne
Slide 9: JUSL Performance
JUSL Performance EBITDA 397 Interest Cost 345 88 87 192 205 173 44 43 44 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 PAT Net Debt 175 1,731 1,743 136 1,450 82 93 70 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Mar'24 Mar'25 Sep'25 All figures in INR. crore unless state
Slide 10: Market Update
Market Update Railways – wagons, coaches metros Infrastructure • Healthy coach demand in Q2 FY26, Process Industry driven by Vande Bharat sleeper • Stainless steel usage in infrastructure— trainsets, Metro and Indian Railways' particularly in flyovers, ROBs, and FOBs shift from ferritic to austeniti
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 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Note: Average quarterly prices; Source: LME Ferrochrome (INR/MT) 1,16,715 1,10,071 1,09,588 1,08,223 1,
Slide 12: Q2 & H1 FY26 Earnings call
Q2 & H1 FY26 Earnings call CONCALL INVITE Jindal Stainless Limited Q2 & H1 FY26 Results conference call on Tuesday, 11th November 2025 at 16:00 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) Q2FY26 Q2FY25 Q1FY26 H1 FY26 H1 FY25 Change (%) Change (%) Change (%) Revenue from operations 10,893 9,777 11% 10,207 7% 21,100 19,207 10% Total Expenditure 9,505 8,590 11% 8,897 7% 18,402 16,808 9% EBITDA 1,388 1,186 17% 1,310
Slide 15: Abridged P&L Statement (Standalone)
Abridged P&L Statement (Standalone) YoY QoQ YoY Particular (Rs. crore) Q2FY26 Q2FY25 Q1FY26 H1 FY26 H1 FY25 Change (%) Change (%) Change (%) Revenue from operations 10,881 9,746 12% 10,341 5% 21,221 19,331 10% Total Expenditure 9,821 8,739 12% 9,293 6% 19,114 17,319 10% EBITDA 1,060 1,007 5% 1,048 1
Slide 16: Shareholding Pattern
Shareholding Pattern Floating Stock % FII 21.4% Promoters Other 61.2% 38.8% Retails & others 10.3% DII 7.1% 15 Shareholding pattern for the period ended 30th September 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