Jindal Stainless Ltd (JSL), India's largest stainless steel producer, reported an 11% rise in profit after tax (PAT) to 898 crore rupees for the quarter ending September 2026. This figure surpasses the 808 crore rupees recorded in the same quarter of the previous fiscal year (2025-26). The company's revenue for this period also increased by 18%, reaching 12,874 crore rupees compared to 10,893 crore rupees last year.
The company noted that this quarter marked a steady recovery following operational disruptions in the first quarter, which were caused by the geopolitical situation and restrictions on industrial gas supply. Quarterly, the company demonstrated a growth in total sales volume of 14.4% and an increase in net revenue of 14.1%.
JSL explained that demand was sustained by the increase in the share of value-added products, as well as growth in the automotive industry and decorative pipes and fittings segments. The company also highlighted that globally, plates and ferritic grades have gained wide adoption, especially in home appliances, elevators, and escalators.
Meanwhile, the domestic market has seen increased import pressure since April 2026. JSL indicated that in July 2026, imports of flat stainless steel products from China reached 2.9 times the average monthly figure for the 2026 fiscal year, and the first four months of the 2027 fiscal year accounted for about 63% of all imports from China in the previous year.
JSL's exports significantly increased during the quarter, rising by 20% quarterly and 36% year-on-year. The company continues to expand its global presence, focusing particularly on developing markets such as South Korea, Colombia, South Africa, Brazil, and Japan.
Furthermore, the company's board of directors approved the merger of Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel, and Jindal United Steel into Jindal Stainless Limited to simplify the group structure. JSL stated that the consolidation of wholly-owned subsidiaries will optimize the use of financial and other resources, enhance operational efficiency, reduce administrative and compliance costs, eliminate intra-group transactions and balances, strengthen corporate governance, and promote better management oversight and decision-making, thereby creating long-term value for all stakeholders.
Commenting on the results, JSL Managing Director Abhiuday Jindal noted that the company achieved growth in the second quarter based on the recovery from the geopolitical crisis that affected operations in the first quarter. This success was driven by stable domestic demand, supported by strong economic growth and increased sensitivity to the life-cycle cost approach. He added that after suspending quality control orders and the subsequent influx of substandard stainless steel imports into India, particularly from China and of Chinese origin, the company focused on maintaining sales volumes by serving growing domestic markets and seeking new export destinations.
