India's Jindal Stainless posts quarterly profit jump on strong domestic demand

Jindal Stainless

04/05/2026 11:35

May 4 - India's Jindal Stainless JIST.NS posted a 42.7% jump in fourth-quarter profit on Monday, helped by strong domestic demand for its products.

The company's consolidated quarterly profit after tax rose to 8.44 billion rupees ($88.78 million) for the quarter ended March 31, from 5.90 billion rupees a year earlier.

Net revenue rose 11.2% to 113.37 billion rupees, from 102.92 billion previously.

Analysts at brokerage HSBC say the steel sector is in a "sweet spot", situated between demand visibility and import curbs, but added capacity growth has been lagging demand.

India imposed a three-year safeguard duty on select steel imports in December after a surge in shipments from China hurt domestic producers.

The company cited "robust domestic demand and rising stainless steel adoption across sectors" for its "healthy volume growth".

In March, Jindal Stainless said its plants ran at reduced capacity due to fuel shortages from Middle East war disruptions, while shipping delays pressured supply chains and margins.

The company, India's biggest stainless-steel producer, has been expanding its facilities as it targets an annual melt capacity of 4.2 million metric tons by FY27.

It operates 16 stainless-steel facilities across India, Spain and Indonesia, with a network spanning 12 countries, as of March 2025.

($1 = 95.0687 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru; Editing by Janane Venkatraman)

 ((abhinav.Parmar@thomsonreuters.com;))