Stories
Jindal Saw Q2 Profit Tumbles 69% Despite Revenue Growth
- •Jindal Saw reported a 69.03% year-on-year decline in consolidated net profit to ₹47.04 crore for the September quarter due to higher expenses.
- •Consolidated revenue from operations rose 5.63% year on year to ₹4,471.79 crore, while total expenses increased by 10.13% to ₹4,505.22 crore.
- •EBITDA fell 42% year on year to ₹261 crore, with the EBITDA margin contracting sharply from 10.7% to 5.8%.
- •Brickwork Ratings recently reaffirmed its BWR AA/Stable rating for Jindal Saw's ₹500 crore non-convertible debenture issue.
- •Company shares closed at ₹301.60 on October 16, marking a 0.80% increase during the trading session.
Key Questions Answered
For the September quarter of the financial year 2026-27, Jindal Saw reported a 69.03% year-on-year decline in consolidated net profit to ₹47.04 crore. Meanwhile, consolidated revenue from operations rose 5.63% year on year to ₹4,471.79 crore, while total expenses increased by 10.13% to ₹4,505.22 crore.
The decline in net profit was driven by higher total expenses, which increased by 10.13% to ₹4,505.22 crore. This cost pressure caused earnings before interest, tax, depreciation, and amortisation (EBITDA) to fall 42% and sharply contracted the EBITDA margin.
Brickwork Ratings reaffirmed its 'BWR AA/Stable' rating for Jindal Saw's ₹500 crore non-convertible debenture (NCD) issue. The rating agency noted that the instruments carry a high degree of safety regarding timely financial obligations and very low credit risk.
