Jindal Steel (formerly Jindal Steel & Power Ltd) announced its financial results for the quarter ended September 2025 on October 28, 2025, delivering a performance broadly in line with market expectations. The company reported a consolidated net profit of ₹638 crore, marking a 25.9% year-on-year decline from ₹861 crore in the same quarter last year.
Revenue from operations rose 4.2% year-on-year to ₹11,685 crore, supported by steady demand and continued operational ramp-ups across its facilities.
EBITDA for the quarter stood at ₹2,080.5 crore, with an EBITDA margin of 17.8%, closely matching expectations though lower than the 19.6% reported in the year-ago period.
Capacity Expansion at Angul Strengthens Growth Outlook
During the quarter, Jindal Steel made significant progress on its large-scale expansion projects at the Angul plant. The company commissioned the country’s second-largest blast furnace—Bhagavati Subhadrika BF-II—with a rated capacity of 4.6 million tonnes per annum (MTPA). This development more than doubled the site’s hot-metal capacity from 4.25 MTPA to 8.85 MTPA.
Additionally, the company commissioned a 3 MTPA Basic Oxygen Furnace (BOF-II) at Angul, boosting crude steel capacity at the site from 6 MTPA to 9 MTPA. With this, the overall steelmaking capacity increased from 9.6 MTPA to 12.6 MTPA.
With both BF-II and BOF-II now operational, Angul remains on track to reach 12 MTPA, enabling Jindal Steel to achieve its 15.6 MTPA total capacity target by FY26.
The company’s total capital expenditure for the quarter stood at ₹2,699 crore, primarily directed toward these strategic expansion initiatives.
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Leadership Update and Market Response
In a key management development, the board approved the appointment of Gautam Malhotra as Chief Executive Officer and Key Managerial Personnel, effective 28 October 2025. This leadership transition marks a strategic step as the company advances its expansion and capacity enhancement phase.
Ahead of the results, shares of Jindal Steel closed 3.93% higher at ₹1,074.90 on the NSE, reflecting investor confidence in its ongoing growth and execution capabilities.
Conclusion
Jindal Steel’s Q2 FY26 results underscore a steady operational performance supported by revenue growth and continued project execution, despite margin pressures and lower profitability. The commissioning of new production units at Angul signals a major step forward in the company’s long-term capacity expansion strategy.
As Jindal Steel moves towards its 15.6 MTPA target by FY26, its focus on efficiency, leadership strength, and capacity-driven growth positions it well to capitalise on opportunities in India’s dynamic steel sector.
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