Jindal Stainless Limited (JSL), India's leading stainless steel manufacturer, has reported robust financial results for the first quarter, while outlining ambitious growth plans for the future.

Strong Q1 Performance

JSL's consolidated performance for Q1 showed significant year-on-year improvements:

The company's sales volume for the quarter stood at 6,26,252 tonnes, up by 8.3% compared to the same period last year.

Expansion Plans and Strategic Focus

Jindal Stainless has set its sights on significant capacity expansion, targeting a production capacity of 4.2 million tonnes by FY27. This growth strategy includes:

1. Melt Shop in Indonesia: The company is setting up a joint venture in Indonesia to develop a stainless steel melt shop, which will increase JSL's melting capacity from 3 million tonnes per annum (MTPA) to 4.2 MTPA.

2. Focus on High-Value Sectors: JSL is emphasizing growth in high-value sectors, particularly in defense and clean energy alloys.

3. Digital Manufacturing Initiatives: The company is enhancing operational efficiency through digital manufacturing initiatives, such as Project Pragati at its Hisar plant, which aims to revolutionize production planning and execution processes.

Key Developments

• Renewable Energy Investment: JSL has acquired a 33.64% stake in Oyster Green Hybrid One Private Limited to develop a 282 MW hybrid renewable energy project for its plant power requirements.

• Product Innovation: The company has successfully manufactured and dispatched its first commercial batch of 9Cr1Mo plate, produced for the first time in India, to Bharat Heavy Electricals Limited (BHEL) for steam generator applications.

• Sustainability Achievements: JSL's corporate office in Gurugram received Platinum Certification under LEED v4.1 Operations and Maintenance: Existing Buildings by the U.S. Green Building Council.

Market Position and Outlook

Abhyuday Jindal, Managing Director of Jindal Stainless, commented on the company's performance: "Despite continued volatility in the global landscape, Jindal Stainless has reinforced its market leadership underpinned by our customer-centric approach, sustained product and special grades innovation, and continued operational efficiency."

The company is advancing its presence across high-impact sectors such as railways, automotive, and infrastructure, while also exploring new opportunities through strategic partnerships and application-driven offerings.

With its strong financial performance, ambitious expansion plans, and focus on innovation and sustainability, Jindal Stainless appears well-positioned for continued growth in the stainless steel industry.

Jindal Stainless Limited (JSL), one of India's leading stainless steel manufacturers, has reported a robust financial performance for the first quarter, with significant growth in both revenue and profit.

Financial Highlights

JSL's standalone net revenue for Q1 reached ₹10,340.51 crore, marking an 8% increase from ₹9,584.90 crore in the same quarter last year. The company's profit after tax (PAT) saw an impressive growth of 11%, rising to ₹641.64 crore from ₹578.32 crore year-over-year.

On a consolidated basis, the company's performance was equally strong:

Operational Performance

The company reported a sales volume of 626,252 tonnes for the quarter, representing an 8.3% increase year-on-year. This growth in volume contributed significantly to the overall revenue increase.

Key Financial Metrics

• Earnings per share (EPS) improved to ₹7.79 on a standalone basis and ₹8.67 on a consolidated basis
• The company maintained a healthy debt-to-equity ratio of 0.35
• Interest service coverage ratio stood at 9.57, indicating strong ability to meet interest obligations

Strategic Developments

1. Renewable Energy Investment: JSL has acquired a 33.64% stake in Oyster Green Hybrid One Private Limited for ₹79.20 crore, to develop a 282 MW hybrid renewable energy project. This move aligns with the company's commitment to sustainable operations.

2. Debt Reduction: The company redeemed the remaining Non-Convertible Debentures worth ₹187.50 crore during the quarter, strengthening its balance sheet.

3. Expansion Plans: JSL is set to increase its melting capacity from 3 million tonnes per annum (MTPA) to 4.2 MTPA through a joint venture in Indonesia.

4. Product Innovation: The company successfully manufactured and dispatched its first commercial batch of 9Cr1Mo plate, produced for the first time in India, to Bharat Heavy Electricals Limited (BHEL) for steam generator applications.

Market Performance

JSL's domestic market demonstrated steady growth, supported by robust demand from key sectors such as automotive, metro, white goods, and lifts and elevators. The company's 'Jindal Saathi Seal' co-branding scheme has strengthened partner confidence and was extended to the kitchenware and sinks category.

Sustainability Initiatives

The company's corporate office in Gurugram was awarded the Platinum Certification under the LEED v4.1 Operations and Maintenance: Existing Buildings by the U.S. Green Building Council (USGBC), reaffirming its commitment to sustainability and green operations.

Management Commentary

Abhyuday Jindal, Managing Director of Jindal Stainless, commented on the results: "Despite continued volatility in the global landscape, Jindal Stainless has reinforced its market leadership underpinned by our customer-centric approach, sustained product and special grades innovation, and continued operational efficiency. We are advancing our presence across high-impact sectors such as railways, automotive, and infrastructure, while unlocking new opportunities through strategic partnerships and application-driven offerings."

The strong Q1 results demonstrate Jindal Stainless Limited's resilience and strategic focus on growth, innovation, and sustainability in the stainless steel industry.