Jindal Saw shares edged up 0.8% to ₹301.60 on Friday, October 16, following the release of its September‑quarter results that saw net profit plunge 69% YoY to ₹47.04 crore, even as revenue climbed 5.6% to ₹4,471.79 crore.
The company’s EBITDA slipped 42% year‑on‑year to ₹261 crore from ₹451 crore, with the margin contracting from 10.7% to 5.8%. Total expenses rose 10.1% to ₹4,505.22 crore from ₹4,090.90 crore, squeezing profitability across the board.
On a sequential basis, net profit fell 54.8% from ₹104.17 crore in the June quarter to ₹47.04 crore, while EPS dropped from ₹2.38 to ₹0.74. Revenue, however, was virtually flat, up only 0.4% QoQ, and total expenses rose 4.1% QoQ.
Brickwork Ratings reaffirmed its ‘BWR AA/Stable’ rating for Jindal Saw’s ₹500 crore non‑convertible debenture, citing a high degree of safety in servicing obligations; the rating remains valid until October 7, 2027. The debenture carries an 8.25% coupon, payable semi‑annually, and matures March 31, 2031.
Market reaction has been muted: the stock’s YTD gain sits at 79.6%, with a modest 0.8% uptick on the day despite the earnings dip. Investors will be watching the company’s next filing for guidance, as no forward outlook was issued in this quarter’s report.