Jindal Saw advanced 1.47% to ₹261.70 after the company announced that the American Petroleum Institute (API) reinstated all its API licenses, allowing it to affix the API Monogram on its seamless pipes. According to reports from Business Standard, the license is valid until June 24, 2029, enabling the company to resume manufacturing and supply of certified seamless pipes to global oil and gas majors. The API Monogram certification is crucial for participating in tenders and safeguarding core revenue streams in the oil and gas sector.
The API license restoration enables Jindal Saw to resume its core operations in the iron and steel pipes and pellets manufacturing sector. As reported by Business Standard, the company's ability to manufacture and supply certified seamless pipes to global oil and gas majors is now restored, providing a significant boost to its business prospects. The API Monogram certification is essential for maintaining the company's position in the competitive oil and gas pipeline market.
Despite the positive development on the regulatory front, Jindal Saw reported challenging financial results for Q4 FY26. According to Business Standard, the company's consolidated net profit declined 52.13% year-on-year to ₹139.43 crore in Q4 FY26. Additionally, revenue from operations fell 8.19% year-on-year to ₹4,633.48 crore in the same quarter. The company operates in the manufacturing of iron and steel pipes and pellets sector.
