New Delhi, Nov 10: Jindal Stainless on Monday reported an over 32 per cent year-on-year rise in consolidated net profit to Rs 808 crore in the September quarter, as increased sales led to a rise in revenues.
It had clocked a net profit of Rs 609 crore in the second quarter of FY25, the company said in a statement.
Revenue and Sales Growth
The company saw its income increase 12 per cent to Rs 10,982.46 crore from Rs 9,823.88 crore in the July-September period a year ago. Sales registered around 15 per cent growth to 6,48,050 tonnes from 5,64,627 tonnes in the year-ago quarter.
Strong Demand Across Key Segments
The company said it witnessed consistent demand across key segments, such as industrial pipes and tubes, lifts and elevators, metro, railway coaches, and wagons during the quarter. The white goods segment also gained traction, driven by festive-season demand.
Managing Director’s Statement
In a virtual media interaction, Jindal Stainless Managing Director Abhyuday Jindal said, "We maintained our market share by leveraging competitive pricing and improved services, despite headwinds."
Imports from China and Vietnam continued to flood the market, distorting the level-playing field for Indian producers, especially MSMEs, he said.
Concerns Over Import and Quality Control Suspension
Jindal said, "The temporary suspension of the QCO (quality control orders) is concerning and discouraging for the entire domestic industry. Amid the prevailing geopolitical complexities, we foresee an increased influx of sub-standard and cheap imports."
New Product Development and Defence Order
During the quarter, the company developed high strength stainless steel rebars for application in the bullet train project.
In the defence space, its arm Jindal Defence and Aerospace (JDA) secured an order from L&T for the supply of High Nitrogen Steel plates for the Anti-Tank Guided Missile (ATGM) launcher system.
Green Hydrogen Project Partnership
Jindal Stainless partnered with Greenzo Energy India to commission a green hydrogen plant at its Jajpur facility in Odisha, with a capacity of 600 Nm3/hr, targeted for completion by mid-2026.
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Future Outlook and Expansion Plans
India's leading stainless steel manufacturer, Jindal Stainless, had an annual turnover of Rs 40,182 crore (USD 4.75 billion) in FY25 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
