Jindal Steel Share Price Today Surge, Despite 25% Decline In Profit; Should You Buy or Sell?

Jindal Steel Share Price Today: Jindal Steel share price surged by nearly 1.76% on Wednesday a day after the company announced an annual decline in its net consolidated profit for the September quarter of financial year 2025-26.

Jindal Steel share price was trading 1.2% higher on BSE at Rs 1086.05 per share on BSE with a market capitalisation of Rs 1,10,786.67 crore. The stock remained under pressure during the pre-opening session, but later recovered after the stock market opening.

Jindal Steel Share Price Recommendation

Jindal Steel reported a strong quarterly result despite weak realisation. The company had posted a net revenue of Rs 117 billion, against Motilal Oswal's estimate of Rs 107 billion. The brokerage has given a buy rating for Jindal Steel stock. Jindal Steel's conference call will be held on Wednesday at 3 pm, and the share price target may be revised post conference call.

Jindal Steel's adjusted EBITDA stood at Rs 20.8 billion, which witnessed a 5% YoY and 31% QoQ decline. "APAT for the quarter stood at INR6.6b (-24% YoY and -56% QoQ) against our est. of INR3.7b. In 1HFY26, revenue and EBITDA came in at INR240b (-3% YoY) and INR51b (flat YoY), while Adj. PAT fell by 2% YoY to INR21b," noted the brokerage in its report on Wednesday.

Jindal Steel Q2 Result Recap

Jindal Steel posted a net consolidated profit (attributable to shareholders of the company) to Rs 638.3 crore in the September quarter of financial year 2025-26. The net profit was down 25.86% from Rs 860.9 crore reported in the year ago period. Company's consolidated net revenue stood at Rs 11,685.88 crore against Rs 11,213.31 crore reported in Q2FY25. While the net revenue jumped on an annual basis, there was a sequential decline in net revenue from Rs 12.294.48 crore reported in Q1FY26.

The Naveen Jindal Group entity's total income rose to Rs 11,707.82 crore from Rs 11,248.14 crore in the second quarter a year ago.

Jindal Steel Q2 Highlights

The company's production and sales for the quarter under review stood at 2 MT and 1.87 MT. Consolidated gross revenue for the quarter came at INR 13,505 Cr (-6% QoQ). Share of exports increased to 10% in Q2FY26 from 7% in Q1FY26. Adjusted EBITDA stood at INR 1,875 Cr (-37% QoQ).

Jindal Steel's capex expansion during the September quarter was driven by projects at Angul. Jindal Steel commissioned the country's second largest blast furnace, Bhagavati Subhadrika BF-II at Angul (rated capacity 4.6 MTPA; useful volume 5,499 m³), more than doubling the site's hot-metal capacity from 4.25 to 8.85 MTPA, as per the company exchange filing.