Jindal Stainless Reports Strong Q2 Results, Outlines Growth Strategy

Jindal Stainless Limited (JSL) has announced robust financial results for the second quarter, demonstrating significant growth across key metrics. The company's performance reflects its resilience in a challenging market environment, marked by strong domestic demand and concerns over cheap imports. Additionally, JSL has outlined its growth strategy focused on domestic recovery and export optimization.

Financial Highlights

JSL reported impressive year-on-year growth in its Q2 results:

Metric	Q2 FY26	Q2 FY25	YoY Change
Sales Volume	648,050	564,627	14.80%
Net Revenue	10,881.00	9,746.00	11.60%
EBITDA	1,060.00	1,007.00	5.30%
PAT	644.00	589.00	9.30%

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

Net revenue increased by 11.4% to ₹10,893 crore
EBITDA grew by 17% to ₹1,388 crore
PAT surged by 32.6% to ₹808 crore

Operational Performance

JSL maintained a healthy domestic to export sales ratio of 91:9 in Q2, consistent with the previous quarter. This balance reflects the company's strategic focus on the robust domestic market while maintaining its global presence.

Market Dynamics and Challenges

Despite the strong financial performance, JSL expressed concerns about the anticipated increase in low-quality, cheap imports entering the Indian market. The company noted that imports from China and Vietnam continue to flood the market through misuse of the FTA route, potentially distorting the level playing field for Indian producers, especially MSMEs.

Segment-wise Performance

The company witnessed consistent demand across key segments such as industrial pipes and tubes, lifts and elevators, metro, railway coaches, and wagons. The white goods segment also gained traction, driven by festive-season demand.

Strategic Initiatives

JSL has been strengthening its customer-centric initiatives to uphold product authenticity, excellence, and trust. The company's co-branding scheme 'Jindal Saathi Seal' in pipes and tubes, kitchenware, and sinks segments has boosted partner confidence. Additionally, initiatives like the QR Code Loyalty Program have enhanced customer engagement and operational agility.

Growth Strategy

Jindal Stainless has outlined its growth strategy centered on domestic demand recovery and export mix optimization. The company plans to:

Strengthen its value-added stainless portfolio and specialty grades
Expand downstream facilities to enhance margin contribution
Improve efficiency through digitization and renewable energy integration
Target long-term EBITDA margin stability

Outlook

With sustained domestic demand momentum, JSL remains well-positioned for consistent growth in the coming quarters. However, the company remains vigilant about the challenges posed by cheap imports and global trade uncertainties.

Abhyuday Jindal, Managing Director of Jindal Stainless, commented on the results, saying, "Our efforts are driven by a vision to make India the global benchmark in stainless steel manufacturing. As we navigate a complex global environment, our priority remains serving critical sectors with the strength of stainless steel while ensuring the highest quality benchmarks."

Jindal also expressed concern about the temporary suspension of the Quality Control Order (QCO), stating it was "discouraging for the entire domestic industry" and could lead to an increased influx of sub-standard and cheap imports into the country.

As Jindal Stainless continues to navigate these challenges, its focus on operational efficiency, strategic market positioning, and commitment to quality positions it well for future growth in the dynamic stainless steel industry.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.24%	+1.36%	-4.31%	+13.73%	+9.01%	+1,105.46%

Jindal Stainless Limited (JSL) has announced the re-appointment of Dr. Rajeev Uberoi as an Independent Director for a second term, showcasing the company's commitment to maintaining strong corporate governance.

Key Details of the Re-Appointment

Aspect	Details
Director Name	Dr. Rajeev Uberoi
Position	Independent Director
Term	Second term of three consecutive years
Effective Date	November 2, 2025
Approval Process	Resolution by circulation on October 28, 2025
Recommending Body	Nomination and Remuneration Committee

About Dr. Rajeev Uberoi

Dr. Uberoi brings a wealth of experience to his role at Jindal Stainless Limited:

Expertise: Specializes in Governance, Legal, Compliance, and Control
Previous Roles:
- CEO of IDFC Holding Finance Co. Ltd.
- General Counsel and Group Head Audit at IDFC Bank Ltd.
- Group Senior President, Governance and Control at Yes Bank
Other Experience: Worked with Standard Chartered Bank, Union Bank of India, State Bank of India, and Reserve Bank of India
Education:
- Ph.D. in Economics
- Masters from McMaster University (Canadian Commonwealth Scholar)
- Post Graduate Diploma in Business Administration from MDI

Compliance and Disclosure

JSL has confirmed that Dr. Uberoi is not debarred from holding the office of director by any regulatory authority. The company has made the necessary disclosures in compliance with SEBI regulations, demonstrating its adherence to transparency and regulatory requirements.

Implications for Jindal Stainless Limited

The re-appointment of Dr. Uberoi suggests that JSL values his contributions and expertise. His extensive background in banking, governance, and compliance is likely to continue benefiting the company's strategic decision-making and corporate governance practices.

This move aligns with best practices in corporate governance, ensuring continuity in board composition while maintaining the independence and diverse expertise necessary for effective oversight.

Investors and stakeholders may view this re-appointment positively, as it indicates stability in the company's leadership and a continued focus on strong governance structures.