Jindal Stainless has provided guidance for 7-9% volume growth this fiscal, despite bracing for the impact of the West Asia crisis on demand. According to reports from The Economic Times, the country's largest stainless steel producer will revise this target at the end of the first half if needed. The company is likely to produce 2.75-2.80 million tonnes of stainless steel this fiscal, up from 2.56 million tonnes in the previous fiscal when it saw a year-on-year volume growth of 8.1%. Chief Executive Officer Tarun Khulbe noted that without the war impact, volume growth would have been 9.3-9.5%. The company had previously guided for 10% volume growth for fiscal 2026.
Jindal Stainless plans to spend ₹2,600 crore on capital expenditure in the current fiscal, as reported by The Economic Times. Despite global demand remaining soft, the company expects about 10% of its sales to come from exports this fiscal. In the March quarter, 7% of Jindal Stainless' sales came from exports, while for fiscal 2026, they stood at 8%. The company is getting "substantial" traction from markets of Brazil, South Korea, Japan, and the Middle East, according to management statements.
The company's guidance reflects the challenging market conditions created by the West Asia crisis, which is expected to impact demand. As reported by The Economic Times, Jindal Stainless' management acknowledged the war's effect on their growth projections, with CEO Khulbe specifically mentioning the impact of the conflict on their volume growth potential. The company's decision to revise its growth target mid-year demonstrates a cautious approach to market conditions.
