India's Jindal Steel jumps on Q4 profit swing, strong volume growth

Jindal Steel

04/05/2026 05:42

** Shares of India's Jindal Steel JINT.NS jump as much as 4.56% to 1,278.90 rupees; last up 3.18%

** Steelmaker's Q4 consolidated revenue from operations rises 23% y/y to 162.18 billion rupees ($1.71 billion), helped by ramp-up of new capacities

** Co swings to a profit of 10.45 billion rupees vs loss year-ago

** Fourth-quarter steel production rises ~25.6% y/y, sales volumes grow ~23%

** Prabhudas Lilladher raises PT by 24 rupees to 1,289 rupees; cuts FY27 EBITDA estimates by 2% and raises FY28 by 3%, citing near-term margin pressure during capacity ramp-up

** Brokerage expects EBITDA to grow over 40% annually from FY26

** YTD, stock up ~20.5%

($1 = 94.8425 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

((Bipasha.Dey@thomsonreuters.com;))