Jindal Stainless Q2 FY27 Earnings Call Transcript Released
Jindal Stainless Limited released its Q2 & H1 FY27 earnings call transcript. The company reported strong Q2 recovery with double-digit QoQ growth in sales volume and revenue. Consolidated EBITDA and PAT for H1 FY27 stood at ₹2,762 crore and ₹1,666 crore respectively. JSL revised FY27 volume growth guidance to 4-6% but increased EBITDA per ton guidance to ₹20,000-₹22,000.
The release of an earnings call transcript provides detailed financial performance, revised guidance, and management commentary on market dynamics and future strategies, which are crucial for investor decision-making.
The company reported a strong recovery in Q2 with double-digit growth, increased EBITDA per ton guidance, and reaffirmed long-term volume targets, indicating positive operational and financial performance despite market challenges.
Jindal Stainless Limited (JSL) has released the transcript of its Earnings Conference Call for Q2 and H1 FY27, which was held on October 23, 2026. The call, hosted by ICICI Securities Limited, featured the senior management team including MD Mr. Abhyuday Jindal, CEO Mr. Tarun Kumar Khulbe, and CFO Mr. Kunja l Mehta.
During the call, management highlighted a strong recovery in Q2 FY27 with double-digit quarter-on-quarter growth in sales volume and net revenue, driven by momentum in automotive and ornamental pipe and tube segments. Domestic demand remained healthy across key sectors like automotive, railways, and white goods. Exports also saw significant growth, with JSL expanding its presence in markets such as South Korea, Colombia, South Africa, Brazil, and Japan.
Operationally, industrial gas availability stabilized, and the transition to natural gas strengthened resilience. JSL also focused on expanding its product portfolio, developing new applications, and enhancing technical capabilities through a technical assistance agreement with Japan's JFE Steel for selected ferritic grades. The company's corporate structure was simplified with the board approving the amalgamation of four wholly-owned subsidiaries into JSL. CARE Ratings upgraded JSL's long-term debt credit rating to AA+ Stable.
Financial performance for Q2 FY27 showed a resilient consolidated performance with revenue, EBITDA, and PAT growing around 14%, 8%, and 17% quarter-on-quarter, respectively. Finished goods sales volume rose 14% quarter-on-quarter and 3% year-on-year. For H1 FY27, consolidated EBITDA increased by approximately 2% year-on-year to ₹2,762 crores, and consolidated PAT rose by about 9% year-on-year to ₹1,666 crores.
JSL revised its full-year volume growth guidance to 4% to 6% (from 7% to 9%) and increased its EBITDA per ton guidance to ₹20,000 to ₹22,000 per ton (from ₹18,000 to ₹20,000). The company reaffirmed its commitment to the sales volume target of 3.5 million tons per annum by FY29. Management also addressed concerns regarding import pressure, particularly from China, and the impact of the suspension of the quality control order. The company is actively representing to the government for regulatory measures.
Discussions also covered the JFE Steel collaboration, export market dynamics including the impact of EU quotas, and the commissioning of new downstream capacities. The Maharashtra plant land acquisition is progressing slower than anticipated.
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