Jindal Saw Limited Latest Updates

Q3 FY26 Financial Results The Board of Directors approved the results for the quarter ended December 31, 2025, in a meeting held today, January 16, 2026. The company reported a consolidated Net Profit of ₹258 crore, a 49% year-on-year decline compared to ₹506 crore in the same period last year. Consolidated revenue also slipped 6.2% to ₹4,943 crore. Despite the annual dip, the results showed a sequential recovery from the previous quarter (Q2 FY26), indicating a stabilization in operations. Record Order Book & Export Momentum Jindal Saw has achieved its highest-ever order book, reaching approximately $1.48 billion (approx. ₹12,300 crore) as of December 31, 2025. This includes a significant export component, notably a major contract for helical pipes for water infrastructure projects in Saudi Arabia. Management anticipates that the execution of these high-value export orders will drive progressive financial improvement throughout the second half of the 2026 fiscal year. Debt Reduction and Credit Strength The company has successfully continued its deleveraging strategy, reducing its consolidated total debt to ₹3,345.6 crore as of December 31, 2025 (down from ₹3,856.4 crore in September 2025). Standalone long-term debt has also been trimmed to approximately ₹534 crore. Reflecting this prudent financial management, CARE Ratings recently reaffirmed its "AA" (Stable) rating for long-term facilities and "A1+" for short-term debt. Legal & Regulatory Updates The company is actively pursuing a legal appeal before the Delhi High Court regarding an arbitral award of ₹1,891 crore plus interest involving its subsidiary, Jindal ITF Limited. While a single-judge order had previously overturned the award, management remains confident of a favorable outcome based on independent legal counsel. Separately, the company is cooperating with the Competition Commission of India (CCI) following an investigation at its Delhi offices in late 2025.