India’s Jindal Saw reported robust net profit growth for the quarter ending September 30, 2024. The company’s net consolidated profit rose 33.6pct YoY to INR 4.75 bln (USD 56.5 mln), while revenue increased by 12.1pct to INR 56 bln (USD 666.5 mln).
Steel pipe output fell 3pct YoY to 425,000 tons, while pellet production grew by 7pct to 418,000 tons. Pipe sales increased by 1pct to 426,000 tons, but iron ore pellet sales dipped 1pct to 396,000 tons.
Jindal Saw Limited currently has a standalone order book of USD 1.573 bln for steel pipes and USD 45 mln for pellets.
The company’s UAE unit, Jindal Saw Gulf LLC, achieved sales of 60,600 tons of rust-free pipes in Q2 FY25, up from 36,800 tons in Q1 FY25. As of September 30, 2024, Jindal Saw Gulf LLC holds an order book of USD 225 mln (193,000 tons), ensuring operational visibility for the next 9-12 months. This is in addition to the previously mentioned order book of USD 1.62 bln.
Jindal Saw, a global manufacturer of steel pipe products and fittings, operates facilities in India, the USA, Europe, and the UAE. It specializes in SAW and spiral pipes for energy transport, carbon, alloy, and seamless pipes for industrial use, and ductile iron pipes for water and wastewater. The company also runs a low-grade iron ore mine and beneficiation plant in Rajasthan, India.
1 USD / 84 INR
