Jindal Stainless quarterly results and financials

Jindal Stainless (JSL)₹691.05−1.95%(9 Nov 2026 close)Iron & Steel

Key facts

In the Sep 2026 quarter (consolidated), Jindal Stainless reported sales of ₹12,866 Cr, up 18.1% from Sep 2025, and net profit of ₹896 Cr, up 11.1% year on year. For the year to Mar 2026, sales were ₹42,964 Cr and net profit ₹3,176 Cr.

Sales (Sep 2026): ₹12,866 Cr
Net profit (Sep 2026): ₹896 Cr
Sales (FY Mar 2026): ₹42,964 Cr
Net profit (FY Mar 2026): ₹3,176 Cr
EPS (Sep 2026): ₹10.88
Borrowings (Mar 2026): ₹7,439 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Jindal Stainless quarterly results

₹ crore unless stated; each column is a quarter.

Jindal Stainless Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	9,122	9,454	9,423	9,778	9,906	10,187	10,205	10,893	10,510	11,339	11,277	12,866
Expenses	7,859	8,403	8,196	8,566	8,690	9,150	8,890	9,497	9,083	9,865	9,923	11,428
Operating Profit	1,246	1,035	1,210	1,186	1,193	1,034	1,295	1,374	1,409	1,456	1,329	1,414
OPM %	14.1%	11.1%	13.0%	12.0%	12.0%	10.0%	13.0%	13.0%	13.0%	13.0%	12.0%	11.1%
Other Income	51.92	52.91	50.92	46.98	98.94	86.95	68.96	107	76.90	83.97	153	250
Interest	146	153	143	159	162	151	145	141	134	149	147	166
Depreciation	237	234	233	242	243	241	253	263	270	279	303	300
Profit before tax	913	700	883	831	886	726	965	1,074	1,078	1,107	1,030	1,197
Tax %	25.0%	29.0%	27.0%	27.0%	26.0%	19.0%	26.0%	25.0%	24.0%	25.0%	26.0%	25.0%
Exceptional items	0.00	−0.99	0.00	0.00	0.00	−4.99	0.00	12.98	−22.94	−33.92	0.00	86.86
Net Profit	689	499	644	607	652	588	712	806	826	832	766	896
EPS (Rs)	8.42	6.09	7.88	7.43	7.97	7.19	8.69	9.80	10.06	10.24	9.35	10.88

Jindal Stainless profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Jindal Stainless Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	7,143	9,279	11,637	13,554	12,946	12,177	32,689	35,687	38,563	39,268	42,964	45,991
Expenses	6,550	8,089	10,266	12,354	11,783	10,743	27,595	32,040	33,988	34,788	37,409	40,299
Operating Profit	573	1,165	1,343	1,164	1,132	1,423	5,092	3,584	4,511	4,471	5,484	5,607
OPM %	8.0%	13.1%	12.1%	9.0%	9.0%	12.1%	16.0%	10.0%	12.1%	11.0%	13.0%	12.2%
Other Income	−13.98	62.97	61.93	44.98	43.98	148	171	236	514	438	388	563
Interest	1,033	790	568	639	588	482	345	326	556	614	570	596
Depreciation	317	326	321	353	426	404	761	726	881	958	1,063	1,151
Profit before tax	−785	116	518	221	164	687	4,139	2,761	3,580	3,327	4,224	4,411
Tax %	−29.0%	28.0%	34.0%	35.0%	56.0%	39.0%	25.0%	25.0%	25.0%	25.0%	25.0%	—
Exceptional items	0.00	17.96	0.99	0.00	1.99	62.91	0.00	0.99	79.88	−1.99	−40.90	30.00
Net Profit	−554	82.70	345	145	72.79	418	3,101	2,078	2,683	2,492	3,176	3,320
EPS (Rs)	−24.09	2.05	7.17	2.98	1.47	8.61	58.64	25.71	33.01	30.49	38.79	40.53
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	10.0%	9.0%	9.9%	10.0%	—

Jindal Stainless balance sheet

₹ crore, at each year end.

Jindal Stainless Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	44.86	45.83	79.74	95.71	95.64	96.71	96.66	105	165	164	164	164
Reserves	−214	1,663	1,733	2,365	2,494	2,618	3,103	9,701	11,743	14,183	16,494	19,597
Borrowings	11,246	10,311	5,870	5,002	4,374	3,889	3,218	3,995	3,948	6,033	6,383	7,439
Other Liabilities	2,898	2,794	3,204	3,341	3,724	4,049	4,296	8,710	11,174	10,312	12,802	13,152
Total Liabilities	13,975	14,815	10,886	10,804	10,687	10,654	10,714	22,510	27,030	30,693	35,844	40,353
Fixed Assets	7,536	6,851	6,599	6,327	6,333	6,170	5,847	8,631	9,938	13,237	14,781	18,188
CWIP	144	69.75	28.92	144	28.90	14.94	57.82	523	770	1,108	1,776	1,801
Investments	14.04	394	405	440	455	450	458	628	973	1,250	1,650	1,552
Other Assets	6,281	7,500	3,854	3,893	3,870	4,019	4,351	12,727	15,349	15,097	17,636	18,811
Inventories	1,951	1,908	2,092	2,378	2,409	2,732	2,781	6,762	8,369	7,914	9,670	9,476
Trade receivables	1,089	939	892	910	922	707	937	3,873	3,670	2,845	3,115	3,096
Cash & equivalents	47.80	79.70	50.82	62.79	44.79	68.68	116	255	927	1,979	2,261	2,923
Total Assets	13,975	14,815	10,886	10,804	10,687	10,654	10,714	22,510	27,030	30,693	35,844	40,353

Jindal Stainless cash flow

₹ crore, for each year.

Jindal Stainless Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	556	969	5,132	1,455	1,424	1,184	1,311	1,040	3,105	4,828	4,731	3,406
Cash from investing activity	−1.01	1,055	−30.06	−194	−192	−186	−152	−987	−2,487	−3,234	−3,439	−3,507
Cash from financing activity	−579	−1,969	−5,092	−1,254	−1,234	−989	−1,117	101	−385	−827	−1,877	−112
Net cash flow	−28.08	47.12	−21.07	1.01	−11.03	4.01	37.07	154	230	761	−599	−218
Capex	59.03	173	75.02	202	206	197	168	972	1,658	1,476	1,888	2,662
Free cash flow	555	797	5,051	1,255	1,212	1,005	1,142	69.90	1,445	3,361	2,884	754
CFO / OP %	139.1%	166.1%	441.1%	107.1%	122.1%	104.1%	91.1%	37.1%	107.1%	123.1%	119.1%	80.1%

Jindal Stainless ratios

Working-capital days and returns, by year.

Jindal Stainless Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	58	49	36	29	26	21	29	44	38	28	30	27
Inventory days	148	155	134	117	97	118	131	117	126	109	133	123
Days payable	104	143	119	104	99	113	123	98	117	95	124	106
Cash conversion cycle	101	59	50	41	22	23	35	61	46	41	36	42
Working capital days	30	76	−76	−19	−18	−23	−1	34	31	24	13	6
ROCE %	0.0%	2.0%	9.1%	14.1%	12.1%	11.1%	16.1%	44.0%	21.1%	22.0%	18.0%	19.1%

Jindal Stainless: frequently asked questions

What are the latest quarterly results of Jindal Stainless?

For the Sep 2026 quarter, Jindal Stainless reported sales of ₹12,866 Cr, up 18.1% year on year and net profit of ₹896 Cr, up 11.1% year on year. The operating margin was 11.1%.

What is the annual revenue of Jindal Stainless?

Jindal Stainless' sales for the year to Mar 2026 were ₹42,964 Cr; over the last twelve months they were ₹45,991 Cr.

What is the net profit of Jindal Stainless?

Net profit for the year to Mar 2026 was ₹3,176 Cr, and ₹3,320 Cr over the last twelve months. Earnings per share over the same trailing period were ₹40.53.

How much debt does Jindal Stainless have?

Jindal Stainless reported borrowings of ₹7,439 Cr at Mar 2026, against cash and equivalents of ₹2,923 Cr.

What is the free cash flow of Jindal Stainless?

Cash from operations was ₹3,406 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹754 Cr.

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