India’s largest stainless steel manufacturer Jindal Stainless Ltd (JSL) posted an 11 per cent increase in profit after tax (PAT) at ₹898 crore for the quarter ended September 30, 2026 (Q2FY27). This compares to ₹808 crore recorded in the corresponding quarter last financial year (FY26).
Revenue jumped 18 per cent to ₹12,874 crore from ₹10,893 crore posted in the same period last year. “The quarter marked a resilient recovery following the operational disruptions in Q1, which had been impacted by geopolitical situation and industrial gas availability constraints,” the company said in a statement.
On a quarter-on-quarter (Q-o-Q) basis, the company saw a 14.4 per cent increase in overall sales volumes and a 14.1 per cent growth in net revenue. The company said demand performance was underpinned by higher contributions from value-added products, along with momentum in the automotive and ornamental pipe and tube segments. “Globally, plates and ferritic grades gained wider acceptance, particularly across white goods, lifts and elevators,” the company said.
It added that the domestic market has been seeing increased import pressure from April 2026. “Imports of stainless steel flat products from China in July 2026 were 2.9 times the level of FY26 monthly average, and the first four months of FY27 alone account for about 63 per cent of the entire previous year’s imports from China,” the company said.
Jindal Stainless’s exports surged during the quarter, with growth expanding 20 per cent Q-o-Q and 36 per cent Y-o-Y. The company continued to diversify its global reach, with a strategic emphasis on growing geographies such as South Korea, Colombia, South Africa, Brazil, and Japan.
During the quarter, the company’s board approved the amalgamation of Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel and Jindal United Steel into Jindal Stainless Limited, in a bid to simplify the group structure.
“The consolidation of wholly-owned subsidiaries would optimise utilisation of financial and other resources, improve operational efficiency, reduce administrative and compliance costs, eliminate inter-company transactions and balances, strengthen corporate governance and facilitate better management oversight and decision making, thereby creating long-term value for all stakeholders,” Jindal Stainless said.
Commenting on the performance, Managing Director Abhyuday Jindal said the company delivered growth in the second quarter building on the recovery from the geopolitical crisis that impacted operations in Q1. Performance was underpinned by resilient domestic demand, supported by robust economic growth and improved sensitivity towards lifecycle costing approach, he said.
“Following the suspension of Quality Control Orders and the resultant influx of substandard stainless steel imports into India, particularly from China and of Chinese-origin, we focused on sustaining sales volumes by catering to growing domestic markets and pursuing new export markets, wherever feasible. Going ahead, we will continue expanding our market outreach initiatives and focussing on an improved product mix to cater to domestic and global markets,” he said.
JSL recorded turnover of ₹42,955 crore last financial year and an annual melt capacity of 4.2 million tonne. The company operates 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia.