Jindal SAW Q1 Net Profit at ₹415.5 Crore; Revenue Dips 17% YoY

6 Aug 2025 , 11:51 AM

Jindal SAW Ltd reported a slight dip in its net profit for Q1FY26, coming in at ₹415.5 crore. This is down 0.2% from ₹416.4 crore in the same quarter last year.

Revenue from operations declined sharply by 17.3% year-on-year to ₹4,084.7 crore. This is compared to ₹4,939 crore in the corresponding quarter of the previous fiscal. The company’s operating performance also came under pressure. EBITDA dropped 20.2% year-on-year to ₹670 crore. EBITDA margin narrowed to 16.4% from 17% last year.

As of June 30, 2025, Jindal SAW reported a total order book worth around ₹130.5 crore. Of this, iron and steel pipes made up the bulk at ₹129.5 crore, with pellets contributing the remaining ₹1 crore.

Export orders accounted for approximately 32% of the total order book and are expected to be executed over the next 9–12 months. In the UAE, the company had an active order book of about ₹27 crore, covering approximately 2.45 lakh metric tonnes as of the end of the quarter.

Jindal SAW also received a Letter of Intent (LOI) during the quarter for an additional 2.65 lakh metric tonnes of ductile iron (DI) pipes. This new LOI is not included in the current reported order book.

Operations during the quarter were impacted by scheduled maintenance. One of the company’s blast furnaces remained offline for two months and is expected to resume in Q2FY26. Similarly, the pellet plant underwent one month of maintenance and is now back in service.

Export shipments faced delays due to geopolitical unrest in the Middle East and North Africa (MENA) region. This led to a temporary increase in working capital requirements. However, the delayed shipments have now either been dispatched or are en route.

On the domestic front, receivables and inventory levels increased, largely due to financial and logistical challenges faced by customers. The company continues to invest in long-term growth and productivity, with ongoing capital expenditure projects aimed at boosting operational efficiency.

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