Jindal Saw Ltd is scheduled to hold a virtual investor meet with ICICI Prudential MF on July 28, 2026, at 03:00 PM IST. The meeting aims to discuss the company's performance and outlook based on publicly available information, ensuring no unpublished price sensitive information (UPSI) is shared during the interaction.

The disclosure was made to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that changes to the schedule may occur due to exigencies on the part of the participants or the company.

Meeting Details

The following table outlines the specifics of the scheduled interaction:

The company secretary, Sunil K. Jain, signed the regulatory filing on July 23, 2026.

Jindal Saw reported a 78% decline in its consolidated net profit to ₹91 crore for the quarter ended June 30, 2026, down from ₹415 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. Management has indicated that Q2 FY27 margins are likely to remain similar to Q1 levels, though better results are expected in H2 FY27 compared to H1, given the persistence of geopolitical and domestic water industry challenges.

Q1 Financial Performance at a Glance

The company's consolidated EBITDA declined to ₹421 crore from ₹688 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.

Seamless Pipe Business and API License Impact

The seamless pipe business faced significant setbacks following the suspension of the American Petroleum Institute (API) license from January 2026 to mid-June 2026. This suspension affected the company's ability to compete for certified oil and gas orders during the period and had a notable impact on Jindal Hunting's results. The API license was reinstated in June 2026, which is expected to normalize operations at the Nashik facility going forward.

Strategic and Corporate Updates

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.