Jindal Saw LimitedQ1 FY27 Results & Financial Update
Jindal Saw Limited: Q1 FY27 consolidated results and company financials – revenue ₹4,452.31 Cr, PAT ₹90.79 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Jindal Saw Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Jindal Saw Limited reported consolidated revenue from operations of INR 4,452.31 crores for the first quarter of fiscal year 2027, accompanied by total income of INR 4,475.98 crores.
Consolidated profit before share of profit/loss of joint ventures and tax stood at INR 148.24 crores, with joint ventures contributing a share of loss amounting to INR 5.37 crores, resulting in a profit before tax of INR 148.24 crores.
Total tax expense for the quarter was recorded at INR 52.08 crores, comprising a current tax charge of INR 41.96 crores and a deferred tax expense of INR 10.12 crores.
Consolidated net profit after tax for the period reached INR 90.79 crores, out of which INR 104.17 crores was attributable to owners of the holding company, while non-controlling interests absorbed INR 13.39 crores.
Basic and diluted earnings per equity share of face value INR 1 each stood at INR 1.63 for the quarter on a non-annualised basis.
Other comprehensive income reflected a net loss of INR 3.73 crores, largely driven by exchange differences on translating financial statements of foreign operations amounting to INR 75.27 crores offset by re-measurement losses on defined benefit plans, bringing total comprehensive income to INR 87.06 crores.
Profit after tax was ₹90.79 Cr for the reported quarter. EPS was ₹1.63 for the reported quarter.
01 · Business model
What does Jindal Saw do?
Jindal Saw Limited operates primarily in the iron and steel products manufacturing sector, providing diverse piping solutions and related industrial goods for infrastructure, water, oil, and gas applications.
The company's consolidated operations span multiple domestic and international entities across subsidiaries and joint ventures, encompassing specialized tube technologies, logistics, shipyards, and metal processing operations.
The business model integrates large-scale manufacturing facilities with global distribution channels, addressing critical utility, energy, and transportation infrastructure requirements globally.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹4,452.31 Cr |
| Total income | ₹4,475.98 Cr |
| Profit before tax | ₹148.24 Cr |
| Profit after tax | ₹90.79 Cr |
| EPS | ₹1.63 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 2.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 3.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹23.67 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Reported consolidated revenue from operations of INR 4,452.31 crores for the quarter ended June 30, 2026.
Generated INR 23.67 crores in other income, contributing to a total consolidated income of INR 4,475.98 crores.
What drove margins
Cost of materials consumed stood at INR 2,711.26 crores alongside stock-in-trade purchases of INR 0.72 crores and inventory changes of INR (23.16) crores.
Employee benefits expense was reported at INR 427.61 crores, while other expenses accounted for INR 942.28 crores.
Finance costs were controlled at INR 108.43 crores, and depreciation and amortisation expenses amounted to INR 163.70 crores for the quarter.
The consolidated operating margin for the quarter was reported at 5.34%, with a net profit margin of 2.03%.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The Group operates with only one reportable business segment, namely 'Iron & Steel products', as indicated in the consolidated financial notes.
05 · Pressure points & risks
What is not going smoothly
Jindal ITF Limited (JITF), a subsidiary, is involved in ongoing appellate proceedings before the divisional bench of the Delhi High Court concerning an arbitral award of INR 1,891.08 crores plus interest and taxes.
06 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
The consolidated debt-equity ratio stood at 0.29, with total debts to total assets reported at 0.17 for the quarter ended June 30, 2026.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Going Concern Assessment
Management believes JITF has an extremely strong case for an ultimate favorable outcome and will be able to monetize assets at carrying values to meet all liabilities, ensuring its status as a going concern.
08 · Key Q&A
The quarter, answered directly
What does Jindal Saw do?
Jindal Saw Limited operates primarily in the iron and steel products manufacturing sector, providing diverse piping solutions and related industrial goods for infrastructure, water, oil, and gas applications.
What is the clearest takeaway from Q1 FY27?
Jindal Saw Limited reported consolidated revenue from operations of INR 4,452.31 crores for the first quarter of fiscal year 2027, accompanied by total income of INR 4,475.98 crores.
What drove revenue or demand?
Reported consolidated revenue from operations of INR 4,452.31 crores for the quarter ended June 30, 2026.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 2,711.26 crores alongside stock-in-trade purchases of INR 0.72 crores and inventory changes of INR (23.16) crores.
What changed operationally beyond the headline numbers?
Management believes JITF has an extremely strong case for an ultimate favorable outcome and will be able to monetize assets at carrying values to meet all liabilities, ensuring its status as a going concern.
What are the main pressure points disclosed for the quarter?
Jindal ITF Limited (JITF), a subsidiary, is involved in ongoing appellate proceedings before the divisional bench of the Delhi High Court concerning an arbitral award of INR 1,891.08 crores plus interest and taxes.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Legal Proceedings: Final verdict from the divisional bench of the Delhi High Court on the JITF arbitral award appeal.
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