This article first appeared on GuruFocus .

• Steelmaking Capacity:Increased from 9.6 million tonnes per annum to 15.6 million tonnes per annum.

• FY26 Production Volume:9.25 million tonnes, a 14% increase.

• FY26 Sales Volume:8.68 million tonnes, a 9% increase.

• Q4 FY26 Production Volume:2.65 million tonnes, 6% quarter-on-quarter growth and 26% year-on-year growth.

• Q4 FY26 Sales Volume:2.62 million tonnes, 15% quarter-on-quarter growth and 23% year-on-year growth.

• FY26 Consolidated Gross Revenue:INR62,412 crores, an 8% increase from FY25.

• FY26 Consolidated Adjusted EBITDA:INR9,099 crores.

• FY26 Profit After Tax:INR3,361 crores, an 18% growth.

• Q4 FY26 Consolidated Gross Revenue:INR19,399 crores, a 28% increase from Q3 FY26.

• Q4 FY26 Consolidated Adjusted EBITDA:INR2,647 crores.

• Q4 FY26 Profit After Tax:INR1,041 crores.

• Net Debt as of March 31, 2026:INR16,019 crores.

• Net Debt to EBITDA Ratio:1.66.

• Debt to Equity Ratio:0.43x.

• FY26 CapEx Investment:INR9,574 crores out of a total planned INR47,043 crores.

• Remaining CapEx Program:INR11,545 crores.

• Warning! GuruFocus has detected 9 Warning Signs with BOM:532286.

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Release Date: May 02, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript .

Positive Points

• Jindal Steel Ltd ( BOM:532286 ) increased its steelmaking capacity from 9.6 million tonnes per annum to 15.6 million tonnes per annum, marking significant progress in its expansion projects.

• The company reported a consolidated gross revenue of INR62,412 crores for FY26, an increase of 8% compared to FY25.

• Profit after tax for FY26 grew by 18% to INR3,361 crores, with a corresponding earnings per share of INR33.

• Jindal Steel Ltd ( BOM:532286 ) achieved a balanced sales mix across product categories, focusing on higher value-added products to optimize realizations.

• The company is making strong progress on its AI and digital transformation journey, aiming to become a truly intelligent enterprise with initiatives like the Jarvis platform.

Negative Points

• The company recognized an impairment of INR1,433 crores related to its Australian assets, impacting its consolidated results.

• Despite the increase in capacity, the adjusted EBITDA per tonne decreased from INR11,712 in FY25 to INR10,482 in FY26.

• The Middle East conflict has tempered near-term regional demand, affecting the broader global outlook.

• Coking coal prices increased, partially offsetting the benefits of recovered HRP and TMT PA prices during the quarter.

• The company faces challenges in ramping up its facilities, with a focus on achieving capacity utilization before optimizing the product mix towards higher value-added products.