India’s Jindal Steel reported consolidated adjusted EBITDA of INR 2,667 crore (USD 277.8 mln) for the first quarter of fiscal year 2026/27, as improved steel realizations, disciplined cost management and a higher share of value-added steel helped offset the impact of planned maintenance shutdowns.
Steel production totaled 2.4 mln tons during the quarter, down 10pct from the previous quarter but up from 2.09 mln tons a year earlier. Steel sales declined to 2.23 mln tons from 2.62 mln tons in the preceding quarter, while increasing from 1.90 mln tons in the corresponding period last year.
Gross revenue reached INR 17,834 crore (USD 1.86 bln), compared with INR 19,399 crore in the previous quarter and INR 14,336 crore a year earlier. The company reported a net profit after tax of INR 844 crore (USD 87.9 mln), down from INR 1,041 crore in the previous quarter and INR 1,496 crore in the year-earlier period.
Jindal Steel said production and sales were affected by planned maintenance shutdowns across key facilities. Despite lower volumes, earnings remained resilient, supported by improved product realizations, tighter cost controls and a continued shift toward value-added steel products, whose share increased to 66pct of total sales from 61pct in the previous quarter. Export shipments accounted for 9pct of total steel sales, up from 5pct in the previous quarter.
The company also announced the appointment of Rajiv Kumar as Chief Operating Officer, effective July 24. Kumar, who previously served as Chief Executive Officer of Vedanta Aluminium and held senior operational roles at Tata Steel, will oversee the company’s steel manufacturing and mining operations.
Jindal Steel Ltd. is a major Indian steel, mining, and infrastructure company operating integrated plants in Angul, Raigarh, and Patratu, producing a broad range of products including sponge iron, rebars, wire rod, plates, HRC, beams, sections, and rails, including head-hardened rails.
1 USD / 95.98 INR