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India
Reported ownership for FY2026-Q3 as of 2025-12-31.
As of 06 Nov 2026, 03:30 pm
On October 23, 2026, management revised full-year volume growth guidance downward to 4%-6%, down from the previous 7%-9%. Conversely, EBITDA per ton guidance was raised to INR20,000-INR22,000. This shift reflects a recovery in sales volume and net revenue after Q1 disruptions, despite the lower volume expectations.
JSL upgraded its long-term debt credit rating to AA+ Stable by CARE Ratings. Additionally, the board approved the amalgamation of four wholly owned subsidiaries: Jindal United Steel Limited, Chromeni Steels Limited, JSL Super Steels Limited, and Rabirun Vinimay Private Limited. These actions aim to streamline operations and enhance financial credibility.
On October 28, 2026, JSL completed the acquisition of Ampin C&I Three Private Limited for approximately ₹5.08 crores, bringing the total committed investment to ₹13.83 crores. Ampin holds a 24.21% stake in an SPV developing a 40 MW solar project expected to produce 61.73 million units annually for captive consumption.
As of November 6, 2026, JSL closed at ₹700.0 with a bearish daily supertrend. Immediate resistance lies at ₹708.15 (1.16% above), while support is noted at ₹697.0 (0.43% below). The stock has declined 18.0% year-to-date and is currently in a 19.1% drawdown from its peak.
As of 06 Nov 2026, 03:30 pm
Showing 3 of 6 candles
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹10,893 crore | ₹11,279 crore | PEAK₹12,874 crore |
| Expenses | ₹9,921 crore | ₹10,363 crore | PEAK₹11,923 crore |
| Finance Costs | ₹141 crore | ₹146 crore | PEAK₹165 crore |
| Profit Before Exceptional Items And Tax | ₹1,061 crore | ₹1,034 crore | PEAK₹1,085 crore |
| Profit Before Tax | ₹1,078 crore | ₹1,034 crore | PEAK₹1,201 crore |
| Tax Expense | ₹271 crore | ₹265 crore | PEAK₹303 crore |
| Profit Loss For Period | ₹808 crore | ₹769 crore | PEAK₹898 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹9.8 per share | ₹9.34 per share | PEAK₹10.85 per share |
Jindal Stainless reported consolidated revenue from operations of ₹12,874 crore in Q2 FY2026-27, up 18.2% year on year and 14.1% sequentially. Profit for the period rose 11.1% year on year to ₹898 crore and 16.8% from Q1; the sequential increase included a positive exceptional item of ₹116 crore.
Total income was ₹13,008 crore, up 18.4% from Q2 FY2025-26 and 14.1% from Q1 FY2026-27. Expenses rose 20.2% year on year and 15.0% sequentially to ₹11,923 crore, outpacing revenue growth on both comparisons. Cost of materials consumed was ₹9,708 crore. The reported change in inventories of finished goods, work in progress and stock in trade was negative ₹685 crore.
Revenue and profit advanced year on year, but expenses grew faster than revenue and pre-exceptional profit increased only modestly. The positive exceptional item contributed to stronger reported pre-tax profit, while higher inventories, receivables and borrowings are important balance-sheet developments to monitor.
Disclosed bulk and block transactions involving Jindal Stainless, shown for the latest 90 days.
Exchange disclosures and regulatory announcements for Jindal Stainless.
Jindal Stainless Limited (JSL) filed the transcript of its Q2 and H1 FY27 earnings conference call held on October 23, 2026. The company reported double-digit quarter-on-quarter growth in sales volume and net revenue, driven by a recovery from Q1 disruptions. JSL revised its full-year volume growth guidance downward to 4%-6% (from 7%-9%) but raised EBITDA per ton guidance to INR20,000-INR22,000. Key corporate actions included board approval for the amalgamation of four wholly owned subsidiaries (Jindal United Steel Limited, Chromeni Steels Limited, JSL Super Steels Limited, and Rabirun Vinimay Private Limited) and an upgrade of its long-term debt credit rating to AA+ Stable by CARE Ratings. Management also highlighted a technical assistance agreement with Japan's JFE Steel, new product developments, and ongoing challenges regarding import dumping from China following the suspension of Quality Control Orders.
Jindal Stainless Limited uploaded the transcript of its earnings or quarterly call held on 23 October 2026 to its website on 28 October 2026. The call concluded at 16:00; the transcript was uploaded at 20:30. The filing reports the prior intimation to the Exchange was disclosed on 16 October 2026.
Jindal Stainless Limited (JSL) completed the acquisition of Ampin C&I Three Private Limited (“Ampin”) on October 28, 2026, by investing a balance tranche of approximately ₹5.08 crores in cash. This final investment brings JSL’s total committed investment in the target to approximately ₹13.83 crores. Ampin is a special purpose vehicle incorporated on November 22, 2021, developing a 40 MW intra-state solar group captive renewable energy project intended for JSL’s captive consumption. The acquisition is reported as an arms-length transaction requiring no governmental or regulatory approvals.
On 28 October 2026, Jindal Stainless Limited acquired an additional approximately 7% equity stake in Ampin C&I Three Private Limited, taking its aggregate stake to 24.21%. The company invested approximately ₹5.08 crore in cash, completing its committed investment of approximately ₹13.83 crore. Ampin is an SPV formed with Ampin C&I Private Limited to develop a 40 MW intra-state solar group captive project; the project is expected to produce approximately 61.73 million units annually for captive consumption. The company stated that no approval was required and Ampin is not a related party.
Jindal Stainless Limited submitted a compliance filing to the BSE and NSE on October 23, 2026, providing the audio recording link for its Q2 & H1FY27 Earnings Call held earlier that day at 03:00 P.M. The submission was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following an initial intimation letter dated October 16, 2026.
Jindal Stainless Limited (NSE: JSL, ISIN: INE220G01021) filed an announcement with the NSE on October 23, 2026, disclosing the audio recording of its Analyst/Investor Meet. The call for the audio recording concluded at 16:00:00 on the same day, and the recording was uploaded to the company's website at 19:42:00. Prior intimation of the earnings call was disclosed to the Exchange on October 16, 2026.
On October 22, 2026, Jindal Stainless Limited’s Board approved a draft Composite Scheme of Amalgamation with its wholly owned subsidiaries Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel Limited and Jindal United Steel Limited. The proposed Appointed Date is April 1, 2027; the Scheme remains subject to shareholder, creditor, statutory and regulatory approvals, including approval of the jurisdictional National Company Law Tribunal. The Board also approved unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2026; statutory auditors expressed unmodified conclusions in their limited reviews. Separately, the standalone results report a ₹95.63 crore exceptional gain from writing back excess provision following the Company’s election to settle historic Haryana LADT/Entry Tax demands for ₹101.72 crore, subject to formalities, instalment payments and authority orders, and a ₹20.86 crore exceptional loss from writing off a loan and accrued interest due from a wholly owned subsidiary. The Company also fully redeemed 990 listed, rated, secured redeemable NCDs aggregating ₹99 crore; no NCDs remained outstanding at the reporting date. The results and transaction approvals are substantive developments; the exchange submission and planned newspaper publication are routine disclosure matters.
On October 22, 2026, the Board of Directors of Jindal Stainless Limited approved unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Concurrently, the Board approved a Composite Scheme of Amalgamation under Sections 230 to 232 of the Companies Act, 2013, involving the transferor companies Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel Limited, and Jindal United Steel Limited into the transferee company, Jindal Stainless Limited, with an appointed date of April 1, 2027. The scheme is subject to approvals from shareholders, creditors, and the National Company Law Tribunal (NCLT). Financial highlights include standalone revenue from operations of ₹11,413.28 crore for the quarter and ₹22,089.83 crore for the half-year, with net profits of ₹74.77 crore and ₹156.89 crore respectively. The company also fully redeemed ₹99 crore in listed secured NCDs during the quarter.
Recent market and company developments associated with Jindal Stainless.
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Jindal Stainless has lowered its FY volume growth guidance after a weak first half but increased its EBITDA per tonne outlook as cost controls supported profitability. The company also expects exports to remain resilient despite lower EU quotas and is hopeful of government action on Chinese imports by December.
Jindal Stainless shares have fallen from ₹853.75 to ₹708.60 per share in 2026 on the NSE
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Consolidated net debt of the company stood at ₹3,121 crore with net debt-to-equity ratio at 0.15x.
Tarun Khulbe, CEO, Jindal Stainless, said although fuel supplies improved, fluctuations in fuel prices, container availability and ocean freight rates continue to pose challenges for both imports and exports.
Revenue jumps 18.2% as company recovers from Q1 disruptions; rising Chinese imports pose challenge to domestic industry
From Swiggy narrowing its Q2 net loss to ₹922 crore to Colgate-Palmolive India reporting a 4.1% year-on-year rise in net profit to ₹341.5 crore, here are the stocks to track ahead of Friday’s trading session.
Comprehensive Section Breakdown for Jindal Stainless
Strategic Vision: Manufactures and distributes stainless steel products globally.
• Integrated stainless steel manufacturing and processing operations.
• Extensive global distribution network.
• Focus on sustainable manufacturing processes.
• Diversification into the retail market with specialized products.
Profit before exceptional items and tax was ₹1,085 crore, up 2.2% year on year and 5.0% sequentially. A positive exceptional item of ₹116 crore brought profit before tax to ₹1,201 crore, up 11.4% year on year and 16.2% from Q1, when there was no exceptional item. Tax expense was ₹303 crore, leaving profit for the period at ₹898 crore. Of this, ₹895 crore was attributable to owners of the parent and ₹3 crore to non-controlling interests.
Basic EPS was ₹10.85, up 10.7% from ₹9.80 in Q2 FY2025-26 and 16.2% from ₹9.34 in Q1 FY2026-27.
Management described Q2 as a resilient recovery following Q1 operational disruptions, which it attributed to the geopolitical situation and constraints on industrial gas availability. Finished goods sales volume increased 2.5% year on year to 6,64,378 tonnes. Exports grew 36% year on year and 20% quarter on quarter, representing 11% of total sales. Management said the suspension of Quality Control Orders had led to an influx of substandard stainless-steel imports into India, particularly from China, and that it focused on sustaining volumes in domestic markets while pursuing new export markets. The company reported EBITDA of ₹1,433 crore, up 3.2% year on year.
At 30 September 2026, borrowings comprised ₹4,245 crore of non-current borrowings and ₹2,752 crore of current borrowings, compared with ₹4,059 crore and ₹2,669 crore, respectively, at 30 September 2025. Equity attributable to owners of the parent stood at ₹21,253 crore, up from ₹18,079 crore a year earlier.
Inventories were ₹11,205 crore at 30 September 2026, compared with ₹10,079 crore at 30 September 2025. Current trade receivables rose to ₹3,712 crore from ₹3,051 crore over the same period. These higher working-capital balances are notable alongside the increase in borrowings.
Category: Manufacturing
Operates integrated stainless steel manufacturing and processing facilities, producing slabs, blooms, coils, plates, sheets, and more.
Category: B2B Services
Launched the 'Jindal Infinity' brand to directly target builders and consumers with corrosion-resistant stainless steel rebars.
Key Products & Services: Jindal Infinity
Core Thesis: Expanding from B2B manufacturing to direct retail sales to capture new market segments.
• Integrated Manufacturing: Operates 16 stainless steel manufacturing and processing facilities across multiple countries. • Global Distribution: Distributes products through a worldwide network with sales offices and service centers. • Sustainable Practices: Utilizes electric arc furnaces to reduce emissions and facilitate material recyclability. • Retail Market Entry: Launched 'Jindal Infinity' brand to directly serve builders and consumers.