Jindal Stainless Limited Earnings Summary — Q1 FY2027
Jindal Stainless Reports Consolidated Net Profit of ₹769 Crore Amid Robust Operations
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 0.5% sequentially in Q1 FY2027.
- Revenue of ₹11,279 Cr is 10.5% higher year-on-year.
- Revenue has compounded at 8.2% annualised over the last 10 quarters.
- Net profit of ₹769 Cr is 7.7% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 21.0% annualised across the period.
- Operating margin stands at 11.8% in Q1 FY2027.
- Operating margin compressed by 92 bps year-on-year.
- Over the last two years operating margin has contracted by 105 bps.
- PBT margin is 9.2%.
- Expenses grew 11.7% against revenue growth of 10.5%.
- Operating profit of ₹1,329 Cr is 2.5% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 66/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 11,279 | 11,337 | 10,518 | 10,893 | 10,207 | 10,198 | 9,907 | 9,777 | 9,430 | 9,454 |
| Expenses | Stable | 9,949 | 9,882 | 9,110 | 9,519 | 8,911 | 9,165 | 8,714 | 8,590 | 8,219 | 8,419 |
| Operating Profit | Improving | 1,329 | 1,455 | 1,408 | 1,374 | 1,296 | 1,033 | 1,193 | 1,186 | 1,210 | 1,035 |
| Operating Margin | Stable | 11.8% | 12.8% | 13.4% | 12.6% | 12.7% | 10.1% | 12.0% | 12.1% | 12.8% | 10.9% |
| Other Income | Volatile | 153 | 84 | 77 | 107 | 69 | 87 | 99 | 47 | 51 | 53 |
| Interest | Stable | 146 | 149 | 134 | 141 | 144 | 150 | 161 | 159 | 143 | 153 |
| Depreciation | Stable | 302 | 278 | 269 | 262 | 252 | 241 | 242 | 241 | 232 | 233 |
| Profit Before Tax | Improving | 1,034 | 1,112 | 1,082 | 1,078 | 969 | 729 | 890 | 834 | 886 | 702 |
| Tax | Improving | 265 | 278 | 255 | 271 | 254 | 139 | 236 | 225 | 240 | 201 |
| Net Profit | Improving | 769 | 844 | 829 | 807 | 714 | 591 | 655 | 611 | 648 | 501 |
| Net Margin | Improving | 6.8% | 7.4% | 7.9% | 7.4% | 7.0% | 5.8% | 6.6% | 6.3% | 6.9% | 5.3% |
Key Takeaways
- Consolidated revenue grew by 10.5% YoY to ₹11,278.54 crore, though it remained largely flat compared to the sequential quarter.
- Net profit (Owners of Parent) stood at ₹769.36 crore, reflecting a year-on-year growth of 7.7%, but saw a sequential decline of 8.8% due to higher raw material costs.
- Operating margin compressed to 11.78% from 12.83% in both the prior quarter and the same quarter last year, primarily impacted by rising power, fuel, and material consumption costs.
- The company has fully committed its ₹132 crore investment in the Oyster Green Hybrid One Private Limited renewable energy project to power its plants.
- Management announced a corporate governance shift for Indonesian subsidiary PT Glory Metal Indonesia, which will transition to an associate entity effective July 1, 2026.
- The balance sheet remains healthy with a consolidated Debt-Equity ratio of 0.38, showing a slight increase from 0.35 in the prior year period.
Management Guidance
Management remains focused on value-added series and infrastructure-linked demand; however, the outlook is tempered by unquantifiable risks related to the Supreme Court ruling on State mineral rights taxes.
Sentiment Shift
Stable
Steady year-on-year revenue growth is offset by sequential margin compression and unquantified regulatory risks regarding mineral taxes.
Outlook
JSL maintains a dominant domestic position but faces near-term headwinds from volatile input costs and potential state-level mineral tax liabilities following recent judicial rulings.
From the Annual Report (Key Quotes)
“The constitution Bench of Nine Judges of the Hon'ble Supreme Court... has ruled that the Mines and Minerals (Development & Regulation) Act does not prevent the States from levying tax on mineral rights.”
“Based on preliminary discussions with potential buyers/ external valuation, the management is reasonably confident about the recovery of carrying value of the net assets of the subsidiary [PT Jindal Stainless Indonesia].”
“During the quarter ended 30 June 2026, the Holding Company has further invested ₹23.41 crore in Oyster Green Hybrid One Private Limited... completing its committed investment of ₹132 crore.”
Official Quarterly Documents
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This summary is AI-generated from Jindal Stainless Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.