Jindal Stainless Reports 18.2% Revenue Growth in Q2 FY27
Jindal Stainless Limited reported an 18.2% year-on-year (YoY) increase in consolidated revenue to ₹12,874 crore for the quarter ended September 30, 2026, driven by a recovery in sales volumes, resilient domestic demand and stronger exports. The company announced its Q2 FY27 financial results on October 22, 2026.
Profit after tax (PAT) rose 11.1% YoY to ₹898 crore, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 3.2% to ₹1,433 crore. Finished goods sales volume reached 6,64,378 tonnes, marking a 2.5% increase compared with the corresponding quarter of the previous financial year.
Exports and Domestic Demand Support Growth
The quarter reflected a recovery from operational disruptions in Q1 FY27, which were attributed to geopolitical developments and constraints in industrial gas availability. Compared with the previous quarter, sales volumes increased 14.4%, while revenue grew 14.1%.
Exports recorded stronger momentum, rising 36% year-on-year and 20% quarter-on-quarter. Jindal Stainless continued to expand its presence in markets including South Korea, Colombia, South Africa, Brazil and Japan. Demand for value-added products also supported performance, particularly in the automotive and ornamental pipe and tube segments.
The company reported consolidated net debt of ₹3,121 crore, with a net debt-to-equity ratio of 0.15x.
Capacity Building and Product Development
During the quarter, Jindal Stainless advanced its product portfolio with developments in 400-series stainless steel grades, including 430HF for appliance applications and EN 1.4003 for the South African market. It also signed a technical assistance agreement with Japan’s JFE Steel for ferritic grades.
Additionally, the company reported a 12% reduction in greenhouse gas emission intensity compared with FY26, reflecting progress in its sustainability initiatives.
The results highlight Jindal Stainless’ focus on strengthening its product mix, expanding export markets and improving operational performance amid rising import pressure in India’s stainless steel market.
