Jindal Saw Ltd announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating operational recovery and maintaining a robust order book position. The company reported mixed financial performance with revenue declining year-on-year but showing sequential improvement over the previous quarters.

Financial Performance Overview

The company's consolidated financial performance for Q3FY26 showed total income of ₹49,630.00 million compared to ₹52,933.00 million in Q3FY25, representing a decline of 6.24%. However, this marked a significant improvement from Q2FY26's ₹42,640.00 million, indicating operational recovery.

On a standalone basis, the company achieved an EBITDA margin of 12.70% in Q3FY26 compared to 19.50% in Q3FY25. The consolidated EBITDA margin stood at 12.70% versus 18.20% in the corresponding quarter of the previous year.

Record Order Book Achievement

Jindal Saw achieved a significant milestone with its order book reaching approximately $1,481.00 million, marking an all-time high in terms of volumes at approximately 1.96 million MT. The order book composition demonstrates strong diversification across product segments and geographical markets.

The Iron & Steel Pipes order book includes significant export components, with export orders accounting for approximately 0.72 million MT (37% of total quantity) and constituting 30% of the total order book value. A major export job-work order for 0.62 million MT for the water sector, secured in Q2FY26, is currently under execution and scheduled for completion over the next 15-18 months.

Operational Performance and Production Metrics

The company's operational performance showed marked improvement in Q3FY26 compared to the previous two quarters. Production and sales volumes demonstrated the company's ability to scale operations effectively based on market demand and order book execution requirements.

The new piercing mill in the Seamless plant commenced production during Q3FY26, with the company working towards achieving stable productivity levels. The water pipe business in India, primarily Ductile Iron pipes, continued to face challenges despite maintaining a strong order backlog of over one year.

Debt Management and Financial Position

Jindal Saw demonstrated effective debt management with reductions in both long-term and working capital debt positions. The company's institutional debt decreased across both standalone and consolidated operations.

The company maintained strong credit ratings with CARE Ratings reaffirming "CARE A1+" for short-term debt facilities and "CARE AA (Outlook Stable)" for long-term debt facilities in July 2025. Brickwork Ratings reaffirmed "BWR AA with Stable Outlook" for Non-Convertible Debentures of ₹5,000.00 million in October 2025.

International Expansion and Strategic Initiatives

Jindal Saw continues to expand its international footprint through strategic partnerships and new facility development. The company has established Jindal Seamless Pipe Manufacturing LLC as a wholly-owned step-down subsidiary to develop a seamless pipe manufacturing facility in Abu Dhabi, UAE. Initial equity has been infused, and the company has secured a lease for approximately 4 lakh square meters of land.

In Saudi Arabia, the company formed a joint venture with Buhur Altavision Company for developing a Submerged Arc Welded pipe manufacturing facility, with Jindal Saw holding a 51% stake. Additionally, a joint venture agreement has been signed for establishing a Ductile Iron pipe facility in KSA.

Jindal Saw Gulf LLC in Abu Dhabi delivered approximately 52,000 MT of corrosion-resistant Ductile Iron pipes in Q3FY26 and maintains an independent order book of approximately $235.00 million, ensuring operational stability for the next 9-12 months.

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.