Jindal Stainless Reports Revenue Growth of 3.68% QoQ in Q2 FY 2025

Jindal Stainless Limited has announced its financial results for Q2 FY 2025, where the consolidated net revenue grew by 3.68% quarter-on-quarter (QoQ). 

The company’s standalone net revenue for the quarter stood at ₹9,746 crore, while standalone EBITDA was recorded at ₹1,007 crore. Standalone profit after tax (PAT) amounted to ₹589 crore. The company’s net debt, excluding Inter Corporate Deposit, was ₹2,580 crore, and the net debt-to-equity ratio improved to less than 0.2. Additionally, the net debt/EBITDA ratio for the quarter improved to 0.7, reflecting Jindal Stainless’ focus on maintaining a healthy balance sheet and reducing leverage.

On a consolidated basis, the company reported net revenue of ₹9,777 crore, reflecting a 3.68% growth QoQ. Consolidated EBITDA stood at ₹1,186 crore, and consolidated PAT was ₹609 crore.

Jindal Stainless also made key developments during the quarter. In August 2024, the company commissioned its Nickel Pig Iron (NPI) smelter facility in Indonesia, located in an industrial park in the Halmahera Islands. The facility was launched eight months ahead of schedule, enhancing the company’s nickel production capabilities. 

Moreover, Jindal Stainless supplied high-strength tempered 301L grade austenitic stainless steel for the Vande Bharat sleeper coaches. The prototype of these sleeper coaches was unveiled by the Minister of Railways, Shri Ashwini Vaishnaw, in Bengaluru, marking another milestone for the company.

Commenting on the performance during the quarter, the Managing Director of Jindal Stainless, Mr Abhyuday Jindal, said, “India’s growth story is the single biggest driver of domestic manufacturing, especially in times of global uncertainties causing continued slowdown in exports. We appreciate the government’s renewed focus to use stainless steel in bridges and infrastructural applications in corrosive environments to prevent loss of life and property.” 

He further added, “The domestic market has always been our focus area, and we expect volume growth to pick up going forward. We also hope for a resolution to the ongoing dumping of subsidised and substandard imports from China and Vietnam, disturbing the level playing field for Indian manufacturers.”

On October 18, 2024, Jindal Stainless Ltd share price opened at ₹750.00, touching the day’s low at ₹730.50, as of 9:34 AM on the NSE.

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