JINDALSTEL
Jindal Steel share price & financials
- Price
- ₹1,137.7
- Market cap
- ₹1.1L Cr
- Sector
- Metals & Mining
- Calls analysed
- 7
Jindal Steel Limited Q1 FY27
What went well
- Consolidated adjusted EBITDA stood at INR 2,667 crores.
- Consolidated adjusted EBITDA per ton increased by INR 1,843 to INR 11,937.
- Share of value-added products increased from 61% in Q4FY26 to 66% in Q1FY27.
What to watch
- Consolidated revenue sequentially declined 8%.
- Sales volume declined 15% sequentially due to plant maintenance shutdown.
What Jindal Steel Limited does
Jindal Steel Limited (formerly Jindal Steel & Power) is an integrated steel producer that runs the full value chain from mining iron ore and coal to making iron, crude steel and finished steel products. It operates integrated steel plants at Angul (Odisha), Raigarh (Chhattisgarh) and Patratu (Jharkhand), backed by captive iron-ore and coal mines, pellet plants and captive power. It sells long, flat and semi-finished steel to construction, infrastructure, railways, defence, automotive and energy sectors across domestic and export markets.
Segments
- Long products
- Flat products
- Semi-finished steel
- Mining / raw materials
- Captive power
- Installed steelmaking capacity
- 15.6 MTPA
- Integrated steel plants in India
- 3 — Angul (Odisha), Raigarh (Chhattisgarh), Patratu (Jharkhand)
- Raigarh sponge-iron plant
- World's largest coal-based sponge iron (DRI) facility
- Pellet production capacity
- 15 MTPA (plants at Barbil and Angul)
- Captive iron-ore production capacity
- 10.61 MTPA (mines at Tensa and Kasia)
- Coal production capacity
- 20.4 MTPA non-coking and 2.4 MTPA coking
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 4 delivered 1 missed 13 open- Blast Furnace 2 Commissioning delivered said Q3 FY25 Promised: We expect the blast furnace to have commissioning done within this quarter (Q4 FY25). Q1 FY27: Already achieved
- DRI 2 and PP2 Commissioning went quiet said Q4 FY26 Promised: towards the end of the year [FY27] Q1 FY27: Not mentioned this quarter
- Slurry Pipeline Commissioning delayed said Q3 FY25 Promised: quarter 1 of FY26, we should be able to deliver that. Q1 FY27: Trials ongoing, commissioning expected in H1 August (Q2 FY27)
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 25.9%, net profit down 43.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11,213 | 11,751 | 13,183 | 12,294 | 11,686 +4% | 13,027 +11% | 16,218 +23% | 15,482 +26% |
| EBITDA | 2,200 | 2,184 | 2,262 | 3,006 | 2,081 −5% | 1,629 −25% | 2,929 +29% | 2,660 −12% |
| Net profit | 860 | 951 | -304 | 1,496 | 635 −26% | 189 −80% | 1,041 +442% | 844 −44% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +7.8% 1Y
1Y: ₹1,039.6 on 10 Sept 2025 → ₹1,120.5. High ₹1,288.8 (21 Apr 2026), low ₹986 (18 Dec 2025).
How the price took the results
close before → close after
- Q1 FY27
- +2.9%
- 25 Jul
- Q4 FY26
- +3.1%
- 2 May
- Q3 FY26
- −2.7%
- 31 Jan
- Q2 FY26
- −0.3%
- 29 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 0.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 18.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹52.7k Cr | ₹50.0k Cr | ₹49.8k Cr | ₹53.2k Cr |
| Operating profit | ₹9.9k Cr | ₹10.2k Cr | ₹9.5k Cr | ₹9.6k Cr |
| Operating margin | 18.8% | 20.4% | 19.1% | 18.1% |
| Interest | ₹1.4k Cr | ₹1.3k Cr | ₹1.3k Cr | ₹1.5k Cr |
| Depreciation | ₹2.7k Cr | ₹2.8k Cr | ₹2.8k Cr | ₹3.2k Cr |
| Net profit | ₹4.0k Cr | ₹5.9k Cr | ₹2.8k Cr | ₹3.4k Cr |
| Net margin | 7.5% | 11.9% | 5.7% | 6.3% |
| ROCE | 14.0% | 13.0% | 11.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹102 Cr | ₹101 Cr | ₹100 Cr | ₹100 Cr | ₹102 Cr | ₹102 Cr |
| Reserves | ₹31.7k Cr | ₹35.5k Cr | ₹38.6k Cr | ₹44.2k Cr | ₹49.5k Cr | ₹50.8k Cr |
| Borrowings | ₹29.9k Cr | ₹13.5k Cr | ₹13.0k Cr | ₹16.5k Cr | ₹19.2k Cr | ₹22.6k Cr |
| Other liabilities | ₹16.1k Cr | ₹27.5k Cr | ₹17.7k Cr | ₹17.9k Cr | ₹23.0k Cr | ₹24.1k Cr |
| Total liabilities | ₹77.8k Cr | ₹76.6k Cr | ₹69.4k Cr | ₹78.7k Cr | ₹91.7k Cr | ₹97.6k Cr |
| Fixed assets | ₹54.4k Cr | ₹45.5k Cr | ₹43.5k Cr | ₹48.4k Cr | ₹57.7k Cr | ₹64.1k Cr |
| Capital work in progress | ₹1.7k Cr | ₹2.5k Cr | ₹7.9k Cr | ₹9.6k Cr | ₹12.2k Cr | ₹8.4k Cr |
| Investments | ₹1.2k Cr | ₹470 Cr | ₹907 Cr | ₹819 Cr | ₹1.8k Cr | ₹3.2k Cr |
| Other assets | ₹20.6k Cr | ₹28.1k Cr | ₹17.1k Cr | ₹19.9k Cr | ₹20.0k Cr | ₹22.0k Cr |
| Total assets | ₹77.8k Cr | ₹76.6k Cr | ₹69.4k Cr | ₹78.7k Cr | ₹91.7k Cr | ₹97.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +1.43 pp while FIIs trimmed −0.92 pp. The shareholder count shrank 8% to 2,76,544.
- Promoters
- 62.7%
- FIIs
- 8.8%
- DIIs
- 19.5%
- Public
- 8.7%
- Others
- 0.2%
Since Jun 2025
- DIIs +1.43 pp
- FIIs −0.92 pp
- Public −0.81 pp
How it drifted, 12 quarters
Over this window DIIs went from 15.2% to 19.5% — +4.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 61.2%, FIIs 12.2%, DIIs 15.2%, Public 9.9%, Others 1.5%.Dec '23: Promoters 61.2%, FIIs 11.8%, DIIs 15.3%, Public 10.0%, Others 1.7%.Mar '24: Promoters 61.2%, FIIs 11.9%, DIIs 14.7%, Public 10.4%, Others 1.7%.Jun '24: Promoters 61.2%, FIIs 12.6%, DIIs 15.3%, Public 10.0%, Others 0.8%.Sep '24: Promoters 61.2%, FIIs 12.2%, DIIs 16.1%, Public 9.8%, Others 0.8%.Dec '24: Promoters 61.2%, FIIs 11.0%, DIIs 17.3%, Public 9.8%, Others 0.8%.Mar '25: Promoters 62.2%, FIIs 9.6%, DIIs 17.7%, Public 9.7%, Others 0.8%.Jun '25: Promoters 62.4%, FIIs 9.8%, DIIs 18.1%, Public 9.5%, Others 0.3%.Sep '25: Promoters 62.4%, FIIs 9.4%, DIIs 18.7%, Public 9.2%, Others 0.3%.Dec '25: Promoters 62.7%, FIIs 9.0%, DIIs 19.1%, Public 8.9%, Others 0.3%.Mar '26: Promoters 62.7%, FIIs 9.2%, DIIs 19.1%, Public 8.7%, Others 0.3%.Jun '26: Promoters 62.7%, FIIs 8.8%, DIIs 19.5%, Public 8.7%, Others 0.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- ICICI Prudential Large & Mid Cap Fund Mutual fund newly disclosed 1.93% held
- Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund newly disclosed 1.32% held
- Prj Family Management Company Private Limited newly disclosed 0.43% held
- SBI Large & Midcap Fund Mutual fund +0.15 pp 1.60% held
- Kotak Flexicap Fund Mutual fund +0.13 pp 3.54% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Jindal Steel Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| OPJ Trading Private Limited | 18.47% | unchanged |
| Opelina Sustainable Services Private Limited | 14.42% | unchanged |
| Siddeshwari Tradex Private Limited | 7.69% | unchanged |
| Virtuous Tradecorp Private Limited | 6.31% | unchanged |
| Skyhigh Sustainable Limited | 4.87% | unchanged |
| Kotak Flexicap Fund Mutual fund | 3.54% | +0.13 pp |
| HDFC Mutual Fund - HDFC Mid-Cap Fund Mutual fund | 2.24% | −0.07 pp |
| ICICI Prudential Large & Mid Cap Fund Mutual fund | 1.93% | newly disclosed |
| SBI Large & Midcap Fund Mutual fund | 1.60% | +0.15 pp |
| NPS Trust- A/C SBI Pension Fund Scheme - State Govt Pension / PF | 1.39% | unchanged |
| Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund | 1.32% | newly disclosed |
| Jindal Power Limited | 1.18% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in JINDALSTEL
Filings to Aug 2026
0 new, 9 added, 3 trimmed, 0 sold out — net −5.38 L shares (−1.9%).
- Held by funds
- ₹3.3k Cr
- 23 schemes
- Biggest holder
- SBI Aggressive Hybrid Fund
- ₹835 Cr · 0.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Aggressive Hybrid Fund SBI Mutual Fund | ₹835 Cr | held | Jul '25 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹775 Cr | −6.22 L | Apr '22 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹466 Cr | held | Nov '23 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹209 Cr | held | Dec '22 |
| Nippon India Flexi Cap Fund Nippon India Mutual Fund | ₹161 Cr | held | Oct '22 |
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹156 Cr | +0.42 L | Jul '23 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹145 Cr | held | Apr '21 |
| Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund | ₹90 Cr | held | Aug '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
9 added, 3 trimmed — net −5.38 L shares (−1.9%)
- Funds are sitting on
- +27%
- vs est. average cost
- Held by funds
- ₹3.3k Cr
- 23 schemes · ≈ 2.9% of the company
- Biggest holder
- SBI Aggressive Hybrid Fund
- ₹835 Cr · 0.9% of that fund
- Longest holder
- Nippon India Value Fund
- 5y 5m · since Apr '21
Shares held by these funds −19%
Aug '23 2.90 cr shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Jindal Steel Limited
Guides on how to read this kind of business and the numbers that matter.