Jindal SAW Limited reported a sharp decline in its December quarter performance, with profit, revenue and margins all coming under significant pressure. The company's net profit for the quarter fell 49% year-on-year, while EBITDA margins contracted substantially due to operational challenges.

Financial Performance Overview

The company's Q3 financial performance showed declining profitability with compressed margins across key metrics:

Margin Analysis and Operational Metrics

The company experienced significant margin compression with EBITDA margin declining to 12.4% from 17.8% in the previous year. The substantial contraction in margins reflects operational pressures and challenging market conditions affecting the company's profitability metrics.

Business Segment and Tax Developments

The company operates with only one reportable business segment—Iron & Steel Products—and accordingly no segment-wise information has been disclosed. Current tax expense for the nine months ended December 31, 2025, is net of a tax refund receivable of ₹133.55 crores, arising from additional claims pertaining to earlier years that were adjudicated in favor of the holding company by the appellate authority.

Legal and Subsidiary Matters

Jindal ITF Limited (JITF), a subsidiary, is in appeal before the divisional bench of the Delhi High Court against a single-judge order that set aside an arbitral award of ₹1,891.08 crores plus interest and applicable taxes in its favor. Based on advice received after due consideration and consultation with reputed independent legal counsel, management believes it has an extremely strong case with the likelihood of an ultimately favorable outcome.

The company stated that the subsidiary will be able to meet all its liabilities, monetize its assets at carrying values and continue to operate as a going concern. Therefore, no adjustments have been made to the consolidated financial results for the quarter and nine months ended December 31, 2025.

Market Performance

Shares of Jindal SAW Limited ended lower by 3.64% at ₹154.14 on the NSE, reflecting investor concerns over the declining financial performance and margin pressures faced by the company during the quarter.

Jindal Saw Limited has announced a conference call to discuss its Q3FY26 financial results, scheduled for January 19, 2026. The company informed stock exchanges on January 13, 2026, about this investor meeting organized by ICICI Securities Limited.

Conference Call Details

The earnings call is scheduled to commence at 17:00 hrs IST on Monday, January 19, 2026. The session will provide analysts and investors an opportunity to discuss the company's third quarter performance for fiscal year 2026.

Management Participation

The conference call will be represented by senior management officials from Jindal Saw Limited. The company has designated three key executives to participate in the investor interaction.

Access Information

The company has provided comprehensive access details for participants, including universal access numbers and international toll-free options. Participants can join the call using the universal access numbers +91 22 6280 1144 or +91 22 7115 8045.

International Access Numbers

Regulatory Compliance

The announcement was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Sunil K. Jain signed the notice digitally on January 13, 2026, ensuring compliance with regulatory requirements.

The company has emphasized that discussions will be based on publicly available information only. No unpublished price sensitive information (UPSI) is intended to be discussed during the meeting. The management has also noted that changes may occur due to exigencies on the part of participants or the company.

Coordination Support

ICICI Securities has assigned multiple coordinators to facilitate the conference call, with Mr. Jaideep Goswami serving as Head of Equities and primary coordinator. Additional support staff including Mr. Vikash Singh, Mr. Pritish Urumkar, Mr. Rushad Kapadia, Ms. Seema Sehgal, and Ms. Minali Ginwala have been designated for participant assistance and clarifications.