Jindal Saw declares ₹2 dividend, approves ₹14,000 crore related party deals
Jindal Saw declared a ₹2 dividend for FY26 and approved ₹14,000 crore in related party transactions with JWIL Infra, JSW Steel, and Jindal Steel for FY 2027-28. Shareholders also authorized raising ₹1,000 crore via private placement debentures and ratified cost auditor remuneration.
*this image is generated using AI for illustrative purposes only.
Jindal Saw declared a dividend of ₹2 per equity share for the financial year ended March 31, 2026, during its 41st Annual General Meeting held on May 29, 2026. The company faced significant operational disruptions during the year due to geopolitical tensions in the Middle East and a liquidity crisis affecting public infrastructure projects under the Jal Jeevan Mission. Despite these headwinds, the company maintained its credit rating in the AA category for long-term indebtedness.
Shareholders approved the audited standalone and consolidated financial statements for FY26. The meeting also saw the re-appointment of Ms. Shraddha Prithvi RJ and Shri Neeraj Kumar as Directors liable to retire by rotation. Additionally, Dr. Ashutosh Karnatak was appointed as an Independent Director for a five-year term effective from April 27, 2026.
Key Approvals and Transactions
The AGM granted approval for material related party transactions to be entered during FY 2027-28. The aggregate value of these transactions with three related parties totals ₹14,000 crore.
| Related Party | Aggregate Transaction Limit (₹) | Financial Year |
|---|---|---|
| JWIL Infra Limited | 3,000 crores | 2027-28 |
| JSW Steel Limited | 6,000 crores | 2027-28 |
| Jindal Steel Limited | 5,000 crores | 2027-28 |
Shareholders ratified the remuneration for M/s R. J. Goel & Co., Cost Auditors, for the financial year 2026-27, subject to a ceiling of ₹15,00,000 per annum plus out-of-pocket expenses. The company also secured approval to raise funds by issuing secured or unsecured, redeemable, non-convertible debentures aggregating up to ₹1,000 crores on a private placement basis.
Voting Results
All resolutions put to vote were passed. The declaration of dividend and the adoption of financial statements received over 99.99% approval. The resolution for the re-appointment of Ms. Shraddha Prithvi RJ received 87.50% votes in favour, while the continuation of directorship for Shri Prithavi Raj Jindal upon attaining the age of 75 years was approved with 89.10% votes in favour.
Historical Stock Returns for Jindal SAW
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.72% | -0.33% | +8.76% | +54.93% | +1.55% | +346.94% |
How will the newly approved ₹1,000 crore debenture issue impact Jindal Saw's leverage ratios given the existing liquidity constraints?
What specific operational strategies will the company employ to mitigate further disruptions from Middle East geopolitical tensions in FY27?
How will the substantial ₹14,000 crore in related party transactions, particularly with JSW Steel and Jindal Steel, influence revenue visibility for FY 2027-28?
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