Jindal Stainless , a prominent player in the stainless steel industry, has seen a significant change in its shareholding pattern as JSL Overseas, a co-promoter of the company, increased its stake through open market purchases.

Key Highlights

• JSL Overseas acquired 1.2 million shares of Jindal Stainless from the open market.
• The transaction resulted in an increase in the promoter group's shareholding.
• The purchase was made in two tranches on September 3 and 4, 2025.

Transaction Details

According to the disclosure made under Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, JSL Overseas Holding Limited, a part of the promoter group, executed the following purchases:

Impact on Shareholding

The acquisition has led to a notable increase in the promoter group's stake in Jindal Stainless:

• Before the acquisition, JSL Overseas held 133,266,100 shares, representing 16.16% of the total share capital.
• After the purchase, their holding increased to 134,431,593 shares, now accounting for 16.30% of the total share capital.

This move represents a 0.14% increase in the promoter group's shareholding through market purchases.

Company Overview

Jindal Stainless Limited maintains a total equity share capital of ₹1,648,839,176, divided into 824,419,588 equity shares of ₹2 each.

The transaction underscores the promoter group's confidence in Jindal Stainless and may be seen as a positive signal by the market. However, investors should conduct their own research and consider various factors before making investment decisions based on this development.

Jindal Stainless Limited (JSL) has reported robust financial results for the first quarter, demonstrating solid growth across key metrics. The company's performance was driven by enhanced product mix, increased value-added products, and strong domestic demand.

Financial Highlights

JSL delivered an impressive 8% year-on-year growth in sales volume, reaching 626,252 metric tons. The company's EBITDA surged by 23% quarter-on-quarter and 8% year-on-year to Rs. 1,310.00 crores. Profit After Tax (PAT) also saw a significant increase, rising 21% quarter-on-quarter and 11% year-on-year to Rs. 715.00 crores.

Improved Product Mix and Market Penetration

The company's strong performance can be attributed to its focus on value-added products and special grades. JSL reported increased volumes in key sectors such as auto, lift elevators, railways, and white goods. The company's Special Product division played a crucial role in supporting this momentum across various applications.

Financial Position

JSL's balance sheet showed improvement, with net debt reducing to Rs. 3,869.00 crores as of June 30. The company maintains a comfortable leverage position, with a net debt-to-EBITDA ratio of 0.81 and a net debt-to-equity ratio of 0.22.

Subsidiary Performance

Chromeni, a subsidiary of JSL, reached 60-65% capacity utilization and turned EBITDA positive during the quarter. The company expects Chromeni to reach 80-85% capacity utilization by the second half of the fiscal year.

Future Outlook

JSL has maintained its volume growth guidance of 9-10% for the fiscal year. The company remains confident in achieving its EBITDA guidance of Rs. 19,000-21,000 per ton. Management has announced a CAPEX plan of Rs. 2,700.00 crores, focusing on enhancing downstream capacities and improving logistics infrastructure.

Market Initiatives

The company has extended its successful co-branding initiative, 'Jindal Saathi', to the kitchenware and sink categories, building on its success in the pipe and tube sector. This move is expected to reinforce JSL's commitment to quality and lead to enhanced business opportunities.

Industry Developments

The Indian Stainless Steel Development Association has filed an application with the Directorate General of Trade Remedies (DGTR) seeking action on certain cold-rolled stainless steel flat products from China, Vietnam, and Indonesia. This move aims to address potential injury to the domestic industry from imports.

Sustainability Efforts

JSL continues to make progress in its sustainability initiatives, achieving a 14% reduction in Scope 1 and Scope 2 GHG emissions. The company has also received LEED Platinum Certification, the highest level under the LEED Green Building Rating System.

Abhyuday Jindal, Managing Director of Jindal Stainless Limited, commented on the results, stating, "Amid persistent global volatility, we continue to reinforce our market leadership through a strong customer focus, consistent innovation, and operational excellence. With our focus on value-added products tailored for specific applications and strengthened market relationships, we are well-positioned to sustain momentum across markets."

As Jindal Stainless Limited continues to navigate global uncertainties, its strong domestic focus and strategic initiatives appear to be paying off, setting a positive tone for the remainder of the fiscal year.