From The Economic Times · Nikita Periwal · · 1m
Jindal Stainless Q2 Profit Rises 11%
Jindal Stainless reports 11% higher Q2 net profit to ₹898 crore amid volume growth cuts.
In brief
Jindal Stainless reports 11% higher Q2 net profit to ₹898 crore amid volume growth cuts. Jindal Stainless' Q2 net profit rose 11% to ₹898 crore as it revised volume growth guidance down to 4-6%. Originally reported by The Economic Times.
Q2 Profit Rises 11%
Jindal Stainless' Q2 net profit rose 11% year-on-year to ₹898 crore.
“The country's largest producer of stainless steel now expects 4-6% volume growth, down from the 7-9% that it had guided for at the start of the year.”
Volume Growth Guidance Cut
Jindal Stainless revised FY27 volume growth guidance to 4-6% from 7-9%.
“Our first quarter was badly disrupted, so we are revising the sales guidance downward.”
Q2 Sales Volume
Q2 sales volume grew 2.5% YoY to 6,64,378 tonnes, with 11% exports.
“Jindal Stainless sold 6,64,378 tonnes of steel during the quarter, up 2.5% compared to the previous year.”
Net Profit Breakdown
₹116.41 crore exceptional gain from tax provision and Indonesian subsidiary.
“Of this, ₹116.41 crore was an exceptional gain, related to a tax provision and an Indonesian subsidiary.”
EBITDA Performance
Q2 EBITDA rose 3% YoY to ₹1,433 crore with ₹21,570 per tonne.
“Earnings before interest, tax, depreciation and amortization for the quarter stood at Rs 1,433 crore, up more than 3% on year.”
Guidance Revision
EBITDA per tonne guidance raised to ₹20,000, 22,000 from ₹18,000, 20,000.
“Jindal Stainless had guided for its EBITDA per tonne in the range of Rs 18,000, 20,000 at the start of the year, which it now sees in the range of Rs 20,000, 22,000.”
Share Price Impact
Shares closed down 3.4% at ₹708.60 on BSE after earnings release.
“The company announced its earnings after market hours on Thursday, and its shares closed at 708.60 rupees on the BSE, down 3.4% from the previous close.”
The one thing
Jindal Stainless' Q2 net profit rose 11% to ₹898 crore as it revised volume growth guidance down to 4-6%.
