Jindal SAW , a leading manufacturer of large diameter submerged arc welded (SAW) pipes, has reported a substantial decline in its financial performance for the second quarter of the fiscal year 2026. The company's latest financial results reveal a notable downturn across key metrics, signaling potential challenges in the market environment.

Financial Highlights

The company experienced a significant 24.1% year-over-year decrease in revenue, dropping from ₹55.72 billion in Q2 FY25 to ₹42.30 billion in Q2 FY26. This substantial reduction in top-line performance may indicate challenging market conditions or a potential slowdown in demand for the company's products.

Jindal SAW's profitability took an even sharper hit, with consolidated net profit plummeting by 69.6% to ₹1.52 billion, compared to ₹5.00 billion in the same quarter of the previous year. This steep decline in net profit suggests that the company may be facing pressures on multiple fronts, including potentially higher costs or reduced operational efficiency.

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a significant decrease, falling by 50.8% to ₹4.50 billion from ₹9.14 billion in the corresponding quarter of the previous year. This decline in EBITDA indicates a substantial reduction in the company's operational profitability.

Moreover, Jindal SAW's EBITDA margin compressed by 5.71 percentage points, dropping from 16.41% in Q2 FY25 to 10.7% in Q2 FY26. This margin contraction suggests that the company may be facing challenges in maintaining its operational efficiency or experiencing increased pressure on its cost structure.

Investor Communication

In light of these results, Jindal SAW has announced an upcoming conference call for analysts and investors. According to the company's notice to the stock exchanges, ICICI Securities Limited will be organizing this call on Thursday, October 23, 2025, at 16:00 hours IST. The call will provide an opportunity for stakeholders to discuss the Q2 FY26 results with key company representatives, including:

• Mr. Narendra Mantri, Chief Operating and Financial Officer
• Mr. Vinay Kumar, President and Head Treasury
• Mr. Rajeev Goyal, Sr. Vice President, Corporate Finance

This investor meet demonstrates Jindal SAW's commitment to transparency and open communication with its stakeholders, especially during a period of financial challenges.

As the company navigates through this period of reduced financial performance, investors and analysts will likely be keen to understand the factors contributing to the decline and any strategies Jindal SAW plans to implement to address these challenges in the coming quarters.

Jindal SAW , a prominent player in the Indian steel industry, has reported that officials from the Competition Commission of India (CCI) visited their Delhi offices as part of an ongoing investigation. The visit, which took place on September 15-16, drew attention to the company's operations and market practices.

Investigation Details

According to a regulatory filing by Jindal SAW, the CCI officials conducted their investigation over a two-day period. The company stated that it has "extended full cooperation to the authorities during the course of their investigation." This proactive approach demonstrates Jindal SAW's commitment to transparency and compliance with regulatory procedures.

Company's Response

In line with its obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Jindal SAW promptly informed the stock exchanges about the CCI visit. The company's Company Secretary, Sunil K Jain, signed the official intimation, assuring stakeholders of the company's cooperation and transparency.

Jindal SAW has pledged to keep the stock exchanges updated on any further developments regarding this matter. This commitment to open communication is crucial for maintaining investor confidence and adhering to regulatory requirements.

Media Coverage

The investigation has not gone unnoticed by the media. Various news channels and media outlets have reported on the CCI's visit to Jindal SAW's offices, bringing the matter into the public eye. This media attention underscores the significance of the investigation and its potential implications for the company and the industry at large.

Implications and Next Steps

While the specific nature and scope of the CCI investigation remain undisclosed, such inquiries typically focus on ensuring fair competition and preventing anti-competitive practices in the market. As the investigation unfolds, stakeholders and industry observers will be keenly watching for any outcomes or further actions by the regulatory body.

Jindal SAW's stock performance and market position may be influenced by the ongoing investigation and its results. Investors and market analysts are likely to monitor the situation closely for any potential impact on the company's operations or market standing.

As this situation develops, Jindal SAW's commitment to keeping the stock exchanges and stakeholders informed will be crucial. The company's transparency and cooperation during this process will be key factors in maintaining trust and stability in its market position.

Note: This article is based on the latest available information as of September 16. Further updates may be provided as the investigation progresses.