Mint reported Oct. 22 that Jindal Stainless CEO Tarun Khulbe lowered the company’s FY27 volume-growth target to 4%–6% from 7%–9%, citing disruption to first-quarter operations. The reported revision was not included in the company’s results release or earnings presentation issued the same day, so the new range rests on Mint’s account of Khulbe’s comments.
The company’s May 5 call carried the original 7%–9% goal from Managing Director Abhyuday Jindal. On Aug. 4, he told investors the figure remained in place, with a possible update later in the fiscal year if needed.
Jindal Stainless sold 664,378 tonnes in the second quarter, up 14.4% from the prior quarter and 2.5% from a year earlier. First-half volume totaled 1,245,183 tonnes, down 2.3% from 1,274,302 tonnes in the same period a year earlier.
The company said geopolitical conditions and limited industrial-gas availability constrained first-quarter operations. Abhyuday Jindal said the company posted growth in Q2 after geopolitical turmoil disrupted operations in the prior quarter. Mint also reported Khulbe cited fluctuating fuel prices and shipping conditions as ongoing uncertainties, and said the company planned to pass higher costs on gradually.
Jindal Stainless also highlighted imports of stainless-steel flat products from China. It reported July imports of 53,271 metric tonnes, compared with an FY26 monthly average of 18,576 tonnes. The company said imports in the first four months of FY27 amounted to about 63% of the prior fiscal year’s total, and linked the rise in import pressure after April to the suspension of Quality Control Orders.
Second-quarter revenue rose 18.2% year over year to ₹12,874 crore. EBITDA increased 3.2% to ₹1,433 crore, and profit after tax rose 11.1% to ₹898 crore. The financial figures were higher year over year even as first-half volume remained below the year-earlier level.
The company scheduled its Q2 and H1 FY27 results call for 5:30 a.m. EDT (9:30 UTC) Friday, Oct. 23.
