Jindal Stainless

“So if all that happens, no unforeseen disruption comes. So we believe that we should be meeting these numbers.”

“And we are very clear of whatever guidance, the long-term guidance, or at least the mid-term guidance, FY29, what we have provided, we are just working on that, and that don't get impacted by these movements or this quarterly movements of the numbers.”

“Now, in IMIP, yes, we have our investment in the steel melt shop. Now, steel melt shop part now commercially it is going to now start, and then the numbers will also be we'll be reporting accordingly.”

“So, we'll be needing maybe another quarter or two before we come out with clear Maharashtra plans. But we are working on the land piece. The process is on, but it is slower than what we had expected.”

“we had informed that we are investing into the cold rolling equipments over there, and okay, next year they will be operational.”

“Let me tell you one thing, that whatever these short-term disruptions happening that is one aspect of the story, but our long-term growth plans are intact. All the actions, they are all our projects, all our capex, everything is intact.”

“So, some of the cold rolling mills are now under commissioning. The commissioning process has started. HAPL line will start commissioning by the end of this year or the beginning of the next year.”

“In addition, Jindal Lifestyle commissioned a new powder coating facility at Pathredi to cater to metro and infrastructure applications.”

“And the investments facilities, some of them are now getting commissioned, and they these new facilities which we have invested in should help us in increasing our volumes then whatever we have hit so far.”

“So sometimes I'm able to create more value by going for the grade or for going for the thicknesses, which may not be as productive as that. But that does not mean that I'm not using my facility, or I'm not using my capacity.”

“Exports also registered a strong growth of 20% on quarter-on-quarter and 36% on year-on-year terms, accounting for 11% of total volumes in Q2 FY27.”

“On in through all these markets, we are able to compensate whatever volume we had lost in Europe.”

“So we hope -- we believe that exports we should be able to maintain the levels at which we are doing, hopefully.”

“Now your question on the that what do we export, mainly it is not that only 300 series, depending upon market-to-market, but basically 400 and 300 series are the major ones.”

“We are expanding our presence across markets, including South Korea, Colombia, South Africa, Brazil, and Japan as we continue to pursue value-added opportunities globally.”

“Domestic demand remained robust across key end-use segments, with the domestic market growing 14% quarter-on-quarter, highlighting strong demand momentum in the country.”

“Turning to market demand, domestic demand remained healthy across our key end-user segments, including automotive, railways, metros, lifts, elevators, and white goods.”

“Ritesh order part or demand part is not something what we ever see as a challenge.”

“Emerging themes such as energy crisis , climate change and self-reliance carry strong tailwinds that boost new stainless steel applications in sectors such as like nuclear, semiconductor, ethanol, desalination plant and green energy.”

“No, not demand-driven. I won't say demand-driven is not the case -- not at all. And demand, I will not put the reason. It is then if at all you have to say, then it is a whatever we have supplied is that much. But here onwards, we hope that we will be able to improve it further.”

“So raw material, whatever the contracts you do, it also comes with a lag of time.”

“Amidst this, our transition to natural gas has strengthened operational resilience, supporting uninterrupted operations.”

“So see if you look at the movement of the pricing, this is also true that the nickel was highest in quarter 1 in the recent quarters if we see. And then in quarter 2 it has dropped.”

“See, NSR are direct reflection of the prices, obviously, but then the prices of 200, 300, and 400, all series is are different, and the mix also impacts, number one. The raw material prices movement also impacts, and ultimately, the sentiment of the markets also impacts.”

“Yes, that's what we believe. That's why we have provided the guidance.”

“At the end of September 2026, our consolidated net debt stood at INR3,121 crores, with a net debt-to-EBITDA ratio of 0.55x, comfortably below 1.”

“Further, CARE Ratings upgraded our long-term debt credit rating to AA+ Stable.”

“Inventory, we don't keep. We don't plan by building any stocks or anything, because in our kind of business, it doesn't make much sense.”

“we have announced a scheme of amalgamation that will bring Jindal United Steel Limited, Chromeni Steels Limited, JSL Super Steels Limited and Rabirun Vinimay Private Limited into the parent entity.”

“So, there are certain brought forward losses in those companies in the range of around INR400 crores to INR500-odd crores, which translate to close to around INR100 cores, INR125-odd crores from an actual tax benefits there.”

“Key achievements include the development of India's first high-aluminum stainless steel grade for catalytic converters and development of two new 400 series grades, one of which has opened up a new market in South Africa.”

“This will optimize utilization of financial and other resources, improve operational efficiency, reduce administrative and compliance costs, eliminate intercompany transactions and balances and facilitate better management oversight and decision-making.”

“that is why we are merging all the entities together, because we believe that looking at them separately and analyzing them may not be a very right thing to do.”

“Since April 2026 following the suspension of the quality control order, imports of substandard products, particularly from China and of Chinese origin, have increased significantly.”

“Chinese origin imports during the first 4 months of the current fiscal year alone were equivalent to nearly two-thirds of the total imports recorded during the previous fiscal year.”

“Basically, the increase in the import essentially is in 200 series.”

“But we believe that by 31st of December, some decision should come into that.”

“So far as our ADD application is concerned, for that the timeline has been extended by DGTR.”

“On a quarter-on-quarter basis, revenue, EBITDA and PAT grew around 14%, 8%, and 17%, respectively as operations normalized from the industrial gas and logistics disruptions of the previous quarter.”

“Our finished goods sales volume rose 14% quarter-on-quarter and 3% year-on-year. For H1 FY27, our deliveries stood at 1.25 million tons, reflecting a marginal decline of 2% year-on-year.”

“Consolidated EBITDA increased by around 2% year-on-year to INR2,762 crores, while consolidated PAT rose by approximately 9% year-on-year to INR 1,666 crores.”

“Additionally, we entered into a technical assistance agreement with Japan's JFE Steel for selected ferritic grades, further strengthening our technical capabilities.”

“In Q2 27, going in the order of 200, 300, and 400, it was 37%, 47%, and 16%.”