Jindal Steel Q1 PAT drops 44% YoY to Rs 844 crore

Total income, however, rose 25.76% year-on-year (YoY) to Rs 15,501 crore in Q1 FY27.

Production during the quarter increased 14.83% YoY to 2.40 million tonnes (MT), while sales rose 17.36% YoY to 2.23 MT. The company said production and sales were impacted by planned maintenance shutdowns across key facilities during the quarter.

Consolidated net debt stood at Rs 15,927 crore as of 30 June 2026, compared with Rs 16,019 crore a year ago. Net debt-to-EBITDA stood at 1.71x in Q1 FY27, against 1.66x in Q1 FY26. The company reported capital expenditure of Rs 42,409 crore during the quarter.

Alongside the results, the board approved the appointment of Vidya Rattan Sharma as additional director and managing director for a two-year term effective 24 July 2026, subject to shareholders' approval. It also appointed Sandeep Modi as chief financial officer (CFO), Rajiv Kumar as chief operating officer (COO), and Sukhjit S. Pasricha as head of human resources, all with effect from 24 July 2026. The board further approved the appointment of S S Kothari Mehta & Co. LLP as statutory auditors for a five-year term from the conclusion of the company's 47th annual general meeting (AGM) until the conclusion of its 52nd AGM, subject to shareholders' approval.

Following Modi's appointment, Sunil Agrawal will step down as interim CFO and continue to oversee the company's finance function. The company also confirmed that Sharma is not debarred from holding the office of managing director by any order of SEBI or any other authority.

Jindal Steel is the flagship company of the Jindal Group, with interests spanning steel, power, mining and infrastructure.

The scrip rose 2.90% to currently traded at Rs 1,066 on the BSE.

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