Jindal Saw reported a 78% decline in its consolidated net profit to ₹908 crore for the quarter ended June 30, 2026, down from ₹4,155 crore in the same quarter of the previous year. The sharp drop in profitability was driven by a significant contraction in EBITDA margins to 9.4% from 16.8% year-on-year, as the company faced severe logistical constraints and supply chain disruptions due to the ongoing Middle East conflict. Revenue from operations rose to ₹4,476 crore compared to ₹4,103 crore in the corresponding quarter of the prior year.

Q1 Financial Performance at a Glance

The company's consolidated EBITDA declined to ₹4,204 crore from ₹6,883 crore in the year-ago period. The margin compression reflects the impact of geopolitical instability on export operations, which constitute approximately 30% of the order book, with a majority destined for the MENA region. The unaudited financial results were reviewed by Price Waterhouse Chartered Accountants LLP, Statutory Auditors.

The following table summarises the key financial metrics for Q1 on a consolidated basis:

Operational Highlights and Order Book

Jindal Saw's standalone order book stands at approximately $1,171 million, comprising $1,164 million for Iron & Steel Pipes and $7 million for Pellets. The Abu Dhabi operations, a key subsidiary, delivered approximately 34,000 MT of pipes in Q1 FY27 compared to 48,000 MT in the previous quarter, with its independent order book at $188 million. The company has invoked Force Majeure clauses due to the conflict.

Production volumes for Iron & Steel Pipes stood at 3,71,000 MT, while sales reached 3,62,000 MT. Pellets production was 2,90,000 MT with sales of 2,82,000 MT. The company noted that the water pipe business in India continued to face challenges despite a backlog of orders.

Strategic and Corporate Updates

The American Petroleum Institute (API) license for seamless pipes, which was temporarily restricted in January 2026, was reinstated in June 2026. This reinstatement is expected to normalize operations at the Nashik facility. Meanwhile, the company is advancing its expansion projects in UAE and KSA, including a seamless pipe facility in Abu Dhabi and HSAW/LSAW pipe facilities in Saudi Arabia, both scheduled for commercial production in FY 2028-29.

CARE Ratings reaffirmed “CARE A1+” for short-term debt and “CARE AA” with a stable outlook for long-term debt facilities in June 2026.

Jindal Saw Ltd announced that Ajit Kumar Hazarika will cease to be an Independent Director of the company effective the close of business hours on July 11, 2026. This transition follows the completion of his second consecutive term of five years in the role. The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company confirmed that the cessation is due solely to the completion of the stipulated tenure. No further appointments or reappointments were detailed in the filing regarding this specific position. The information was submitted by Sunil K. Jain, Company Secretary, on behalf of Jindal Saw Ltd.

Details of the Change

The filing provided specific particulars regarding the director's cessation as required under the relevant regulations and the SEBI Master Circular dated January 30, 2026.

The regulatory filing was addressed to BSE Limited and the National Stock Exchange of India Limited to ensure formal record of the board-level change.