JINDAL STEEL LIMITED (JINDALSTEL) — Announcement | 31 July 2026

Jindal Steel Limited's Q1FY27 earnings call on July 25, 2026, highlighted management's focus on value-added steel expansion, capacity utilization targets, and disciplined capex amid industry headwinds. Key updates included a 66% value-added product share (up from 61%), INR 8,500 crore FY27 capex plan, and 13,000 TPD blast furnace capacity by December 2026. Management emphasized cost-saving initiatives like slurry pipelines (INR 700/ton savings) and backward integration (iron ore mix to 40% by year-end), targeting INR 1,000/ton reduction over 2-3 years. Despite volume declines and commodity price pressures, EBITDA per ton rose to INR 11,937 with ASP improvements, while net debt/EBITDA ratio stood at 1.71x. The company avoided debt-funded expansion, prioritizing financial discipline and strategic capacity growth to capture higher-margin opportunities in defense, railways, and export markets post-conflict stabilization.