India's Jindal Stainless posts higher quarterly profit on strong demand

Jindal Stainless

10/11/2025 10:18

Nov 10 (Reuters) - India's Jindal Stainless JIST.NS reported a 32.6% rise in second quarter profit on Monday, on strong growth in volumes driven by improved domestic demand conditions.

The O.P. Jindal Group company's consolidated profit after tax rose to 8.08 billion Indian rupees (about $92 million) for the quarter ended September 30, as compared to 6.09 billion rupees last year.

Its net revenue rose 11.4% to 108.93 billion rupees.

KEY CONTEXT

Local demand for stainless steel — used in transport, construction, appliances and industrial goods — stayed firm in the July-September quarter, buoyed by strong manufacturing activity, infrastructure rollout and steady government spending.

The company said in August that the launch of an anti-dumping investigation by the government into cheap stainless steel imports had been delayed due to trade uncertainty stemming from U.S. tariffs on Indian goods.

Analysts said that Jindal Stainless stands to gain the most from a potential anti-dumping duty on cold-rolled stainless steel flat imports from China, Indonesia and Vietnam.

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
17.17
10.91
12.39
23.98
Buy
12
0.93
0.41
Tata Steel
TISC.NS
15.39
7.88
7.05
60.97
Buy
29
1.04
1.98
JSW Steel
JSTL.NS
20.64
10.33
11.63
67.01
Hold
32
1.01
0.24
Steel Authority of India
SAIL.NS
14.70
7.59
7.87
32.44
Hold
13
1.13
1.13

     * 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

JULY-SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 87.8950 Indian rupees

JULY-SEPTEMBER STOCK PERFORMANCE https://tmsnrt.rs/4nSh4WL

 (Reporting by Manvi Pant in Bengaluru; Editing by Ronojoy Mazumdar)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))