Jindal Steel Ltd delivered a remarkable financial turnaround in Q4FY26, posting a consolidated net profit of ₹1,045 crore compared with a loss of ₹339 crore in the same period last year. According to reports from ET Now, the company's consolidated revenue rose 23% year-on-year to ₹16,218 crore. The board has recommended a final dividend of ₹2 per share for FY26, reflecting the company's improved financial position.
The company demonstrated strong operational metrics with sales volumes increasing 15% sequentially to 2.62 million tonnes and production rising 6% quarter-on-quarter to 2.65 million tonnes. As reported by ET Now, adjusted EBITDA for the quarter stood at ₹2,647 crore. The robust performance was driven by strong volume growth, improved realisations, and margin expansion that helped the firm surpass market expectations.
Multiple brokerages have issued bullish recommendations following the results. Morgan Stanley maintains an 'Overweight' rating with a target price of ₹1,250, noting that Q4 EBITDA beat estimates by 25% with EBITDA per tonne at ₹11,200 versus estimate of ₹9,600. Elara Capital maintains an 'Accumulate' rating with a target price of ₹1,279, citing Q4 EBITDA rise of 66% quarter-on-quarter and improved EBITDA per tonne to ₹10,103 from ₹6,986.
Management has provided optimistic guidance for FY27, with sales guidance at 10.5-11 million tonnes implying over 20% growth. According to ET Now, the company expects slurry pipeline commissioning in Q1FY27 to aid ₹750-1,000 per tonne cost savings. Goldman Sachs maintains a 'Neutral' rating with a revised target price of ₹1,355, raising FY27E and FY28E EBITDA estimates by 6% and 1% respectively based on higher earnings estimates and capacity ramp-up visibility.
