India's Jindal Stainless posts higher quarterly profit driven by strong volumes

Jindal Stainless

21/01/2026 10:56

Jan 21 (Reuters) - India's Jindal Stainless JIST.NS posted a 26.6% rise in third-quarter profit on Wednesday, due to strong volume growth even as steel prices were tepid.

The O.P. Jindal Group-company's consolidated profit after tax rose to 8.28 billion rupees ($90.3 million) for the quarter ended December 31, from 6.54 billion rupees last year.

Its net revenue rose 6.2% to 105.18 billion rupees.

For further results highlights, nP8N3XT056

KEY CONTEXT

A rebound in steel prices since December, underpinned by the safeguard duty, is likely to support the sector in the near term, analysts at Centrum said.

Last month, the government imposed a three-year import tariff, locally known as a safeguard duty, on select steel products to curb shipments from China.

Last April, it had implemented a temporary 12% duty for 200 days. While that shorter duration caused investor uncertainty, the new three-year window provides long-term protection for local players, Sunny Agrawal, head of fundamental equity research at SBICAPS Securities, told Reuters.

Jindal Stainless' sales volume rose 10.6% to 649,857 tonnes, helping cushion the company's margins.

PEER COMPARISON

Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Revenue growth (%)
Profit growth (%)
Mean rating*
No. of analysts
Stock to price target**
Div yield (%)
Jindal Stainless
JIST.NS
16.85
10.79
12.06
24.30
Buy
11
0.91
0.39
Tata Steel
TISC.NS
14.41
7.78
7.21
54.34
Buy
29
0.98
1.96
JSW Steel
JSTL.NS
19.72
10.19
11.71
58.93
Buy
31
0.98
0.24
Steel Authority of India
SAIL.NS
14.93
7.07
6.06
40.45
Hold
14
1.13
1.10

     * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 91.7300 Indian rupees

Jindal Stainless Oct-Dec https://tmsnrt.rs/4qzf4Vx

 (Reporting by Anuran Sadhu in Bengaluru; Editing by Eileen Soreng)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))