TARUN KHULBE of JINDAL STAINLESS

Dumping of cheap stainless steel is harming India's domestic industry Dumping of stainless steel is under investigation; DGTR typically takes -12 months to analyse data Expect DGTR to recommend imposing duties on imported stainless steel EU and US markets are important for exports, but dependence is lower; reduced exports to these regions won't affect consolidated volumes FY26 EBITDA/ton guidance maintained at 19,000-21,000 Started supplying the defence sector; volumes currently modest, but sector seen as very promising FY26 capex guidance of ₹2,700 crore; all plans on track Working on land acquisition for expansion in Maharashtra Planning a phased 4 MnT plant in Maharashtra, adding 1 MnT per phase