Savitri Devi Jindal Reduces Stake in Jindal Steel & Power Limited Through Gift Transfer

Jindal Steel & Power Limited (JSPL) has reported a significant change in its promoter shareholding. Savitri Devi Jindal, a member of the promoter group, has transferred a substantial portion of her stake in the company through an off-market gift transaction.

Transaction Details

The transfer, which took place on October 7, 2022, involved 1,12,68,000 equity shares of JSPL. This move has resulted in a notable reduction in Savitri Devi Jindal's shareholding in the company.

Aspect	Before Transfer	After Transfer	Change
Shares Held	1,23,84,540	11,16,540	-1,12,68,000
Shareholding Percentage	1.21%	0.11%	-1.10%

Regulatory Compliance

The company has made this disclosure in compliance with the Securities and Exchange Board of India (SEBI) regulations concerning substantial acquisition of shares and takeovers. Such disclosures are crucial for maintaining transparency in the stock market and keeping investors informed about significant changes in company ownership.

Company Overview

Jindal Steel & Power Limited is a major player in the Indian steel industry. The company's equity structure consists of:

Total equity share capital: Rs. 1,02,00,88,097
Number of equity shares: 1,02,00,88,097
Face value per share: Re. 1

Market Implications

While the transfer of shares was conducted as a gift and off-market transaction, it represents a substantial reduction in the promoter's direct holding. Such movements in promoter shareholding are often closely watched by market participants as they can sometimes signal changes in company control or strategy.

However, as this was a gift transaction within the promoter group, it may not necessarily indicate a change in the overall promoter holding or company direction. Investors and market analysts will likely monitor for any further disclosures or changes in the company's ownership structure in the coming days.

The company has not provided any additional commentary on the reasons behind this share transfer or its potential impact on the company's operations or governance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.32%	+5.81%	+0.29%	+19.11%	+15.89%	+459.12%

Jindal Steel , a leading player in India's steel sector, has reaffirmed its sales volume target of approximately 2.5 million tonnes per quarter for FY'26, demonstrating confidence in its growth trajectory despite current market challenges. The company has also outlined ambitious expansion plans, including a significant capital expenditure allocation of INR 4,925.00 crores for the second half of FY'26.

Expansion and Production Targets

Jindal Steel aims to achieve a steel production capacity of 15.6 million tonnes by FY'26, underlining its commitment to long-term growth. This expansion aligns with India's position as a key driver of global steel demand, with the World Steel Association projecting that India will account for over 60% of incremental global steel demand in CY26.

Financial Performance

The company's Q2FY26 financial results reflect the impact of seasonal weakness in the steel market:

Metric	Q2FY26	Q1FY26	YoY Change	QoQ Change
Gross Revenue	13,505.00	14,336.00	3.70%	-5.80%
Adjusted EBITDA	1,875.00	2,984.00	-11.70%	-37.20%
Profit After Tax	635.00	1,496.00	-26.20%	-57.60%
Steel Production	2.00	2.09	1.50%	-4.30%
Steel Sales	1.87	1.90	1.10%	-1.60%

The company's performance was influenced by planned shutdowns and seasonal market dynamics, leading to a decrease in production and sales volumes compared to the previous quarter.

Market Dynamics and Pricing

Management expects coal costs to increase by $3-5 per tonne in Q3 FY'26, while iron ore costs are projected to remain steady. Domestic steel prices are currently 2-3% lower than Q2 levels, reflecting broader market trends. The company has observed a correction in steel prices during Q2FY26, with Hot Rolled Coil (HRC) prices staying weak due to softening Chinese steel prices.

Value-Added Products and Export Performance

Jindal Steel has maintained a strong focus on value-added products, with the share of value-added sales reaching a record 73% in Q2FY26. The company's export performance improved, with exports increasing to 10% of total sales volume in Q2FY26, up from 7% in Q1FY26.

Operational Highlights

The company has made significant progress in its expansion projects:

Commissioned a 4.6 MTPA Blast Furnace-2 and a 3 MTPA Basic Oxygen Furnace-2 at Angul
Achieved first-ever Continuous Galvanizing Line (CGL) dispatch
Initiated first-ever Cold Rolled (CR) products exports

Future Outlook

While maintaining its sales target, Jindal Steel remains cautious about near-term market challenges. The company's volume projections for FY'26-27 will be disclosed during the Q4 earnings call, providing stakeholders with a clearer picture of its long-term strategy.

As Jindal Steel navigates through market fluctuations, its focus on capacity expansion, value-added products, and strategic capital allocation positions it to capitalize on India's growing steel demand. However, the company will need to carefully manage costs and market dynamics to achieve its ambitious targets in the evolving steel industry landscape.