Jindal Steel's shares have gained 2.95% year-to-date, significantly outperforming the benchmark Nifty 50, which fell 6.90% over the same period. The stock was trading at ₹1,125.40, reflecting a 2.03% gain over its previous close as of 2:18 pm on Monday. According to reports from Moneycontrol, the stock is a constituent of the Nifty Next 50 index, with analysis indicating a bullish sentiment for the stock as of August 3, 2026.
Jindal Steel, led by billionaire Naveen Jindal, plans to expand its steelmaking capacity to 21 million tonnes (mt) by 2032 as newly appointed managing director and chief executive V.R. Sharma looks to bring greater leadership stability at the company. Currently, the Jindal brothers—Naveen Jindal and Sajjan Jindal—hold 51 million tonnes (mt) of installed capacity, giving them just under a fourth of India's 220 mt installed capacity. By 2030, the two brothers aim to reach a combined annual capacity of at least 100 mt, accounting for a third of the country's planned 300 mt target. Sajjan Jindal-led JSW Steel is targeting 80 mt within this timeframe, while Jindal Steel is eyeing a more measured 20-21 mt expansion.
Sharma emphasized that the company is not looking to chase volume for its own sake, considering 20–21 mt an adequate scale for its operations. The company has 15.6 million tonnes per annum (mtpa) of total steelmaking capacity, of which around 12 mt is currently operational. Jindal Steel has been working on developing specialized steel grades for about a year, engaging with IITs, research scientists and overseas professionals to build the required capabilities. The specialized steel capacity will come up at the company's Angul plant in Odisha, with the company focusing on specialized steel used in sectors such as nuclear power plants and shipping.
The company reported consolidated revenue of ₹15,482.13 crore for the quarter-ending June 2026, marking a decrease of approximately 4.5% from ₹16,217.93 crore in the quarter-ending March 2026, but representing a substantial increase of approximately 25.9% compared to ₹12,294.48 crore in the quarter-ending June 2025. Net Profit for the June 2026 quarter was ₹844.18 crore, reflecting a decrease of approximately 19.7% from ₹1,051.60 crore in March 2026, but showing a significant increase of over 336% compared to ₹193.30 crore reported in December 2025. Earnings Per Share (EPS) for June 2026 was 8.30.
Sharma, who has returned to the company as managing director and CEO, is also looking to build a more stable leadership pipeline following several senior-level changes in recent years. The company has identified around 2,000 employees from AGM to vice-president level as its core leadership pool, from which it plans to develop 20 people for top leadership roles and around 200 for middle management. "We'll give them a chance first," Sharma said, referring to long-serving employees who have spent 17-20 years at the company. The company is taking a cautious, flexible approach to acquiring captive mines amid steep auction premiums, currently relying on state-run Odisha Mining Corporation (OMC) and National Mineral Development Corporation (NMDC) for 70% of its raw materials, with the remaining 30% coming from its own mines.
