{"id":171675,"date":"2025-10-21T05:54:11","date_gmt":"2025-10-21T09:54:11","guid":{"rendered":"https:\/\/44.250.171.167\/?p=171675"},"modified":"2025-10-21T05:54:11","modified_gmt":"2025-10-21T09:54:11","slug":"jindal-saw-q2-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/jindal-saw-q2-fy26-earnings-results\/","title":{"rendered":"JINDAL SAW Q2 FY26 Earnings Results"},"content":{"rendered":"<p>Jindal Saw Ltd, one of India\u2019s leading pipe manufacturers, operates across a wide range of product categories including LSAW pipes, HSAW pipes, ductile iron (DI) pipes, seamless pipes, and pellets. The company supplies critical infrastructure materials to the oil, gas, water, and industrial sectors across global markets.<\/p>\n<h2><strong>Q2 FY26 Earnings Summary <\/strong><\/h2>\n<p>Consolidated revenue stood at \u20b94,234 crore, down 24.01% year on year from \u20b95,572 crore.<br \/>\nTotal expenses declined 17.64% to \u20b94,091 crore from \u20b94,967 crore year on year.<br \/>\nConsolidated Net <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachHis\/293f154e-fe56-4ee1-bce6-32fc8a02b6c8.pdf\" target=\"_blank\" rel=\"noopener\">Profit<\/a> fell sharply by 70.74% to \u20b9139 crore from \u20b9475 crore in the same quarter last year.<br \/>\nEarnings Per Share (EPS) dropped 69.53% to \u20b92.38 from \u20b97.81 year on year.<br \/>\nEBITDA declined over 50% to \u20b9450 crore, with margins compressing to 10.7% from 16.4% in Q2 FY25.<\/p>\n<h2><strong>Operational and Business Highlights<\/strong><\/h2>\n<p>The quarter reflected weaker market sentiment across the steel and pipe manufacturing value chain, with subdued demand in both domestic and export markets. Lower realizations, rising competition, and unfavorable commodity trends weighed on revenue performance.<br \/>\nDespite the challenging environment, Jindal Saw maintained its leadership in large-diameter SAW pipes and continued strengthening its presence in overseas markets. The company\u2019s order book reached an all-time high of approximately USD 1.45 billion, supported by healthy demand in water and energy infrastructure sectors.<br \/>\nJindal Saw also commenced a trial run of its new piercing mill at the seamless pipes facility, expected to improve high-margin product mix starting next fiscal year.<\/p>\n<h2><strong>Financial Position and Outlook<\/strong><\/h2>\n<p>While profitability declined sharply, the company remains financially stable with a moderate debt-to-equity ratio of 0.56 and continued focus on deleveraging. Operational efficiency efforts, improved cost management, and completion of upcoming projects are expected to support recovery in profitability.<br \/>\nManagement remains optimistic about medium-term demand recovery through infrastructure investments and government-led pipeline expansion programs.<br \/>\nAlthough near-term earnings are likely to remain under pressure due to raw material volatility and subdued margins, Jindal Saw\u2019s strong order pipeline and diversification across product segments position it well for a rebound in FY26 and beyond.<\/p>\n<p>Explore the company\u2019s past earnings and latest concall transcripts, <a href=\"https:\/\/alphahttps:\/alphastreet.com\/india\/symbol\/jindalsaw\/\">click here<\/a> to visit the AlphaStreet India News Channel.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-171676\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW.png\" alt=\"Q2 FY26\" width=\"1489\" height=\"1817\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW.png 1489w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW-1259x1536.png 1259w\" sizes=\"auto, (max-width: 1489px) 100vw, 1489px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jindal Saw Ltd, one of India\u2019s leading pipe manufacturers, operates across a wide range of product categories including LSAW pipes, HSAW pipes, ductile iron (DI) pipes, seamless pipes, and pellets. The company supplies critical infrastructure materials to the oil, gas, water, and industrial sectors across global markets. Q2 FY26 Earnings Summary Consolidated revenue stood at [&hellip;]<\/p>\n","protected":false},"author":1932,"featured_media":171676,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392],"tags":[11698],"class_list":["post-171675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","tag-pipe-manufacturing"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/JINDSAW.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":177352,"url":"https:\/\/alphastreet.com\/india\/jindal-saw-q3-fy26-earnings-results\/","url_meta":{"origin":171675,"position":0},"title":"Jindal Saw Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"January 23, 2026","format":false,"excerpt":"Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets. Financial Results Jindal Saw Ltd reported Revenues for Q3FY26 of \u20b94,943.00 Crores down from \u20b95,271.00 Crore year on year, a fall of 6.22%. Total Expenses for Q3FY26 of \u20b94,619.00 Crores down from \u20b94,656.00 Crores year on\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/JIND.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/JIND.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/JIND.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/JIND.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/JIND.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/JIND.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171918,"url":"https:\/\/alphastreet.com\/india\/jindal-steel-q2-fy26-earnings-results\/","url_meta":{"origin":171675,"position":1},"title":"Jindal Steel\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"October 29, 2025","format":false,"excerpt":"Jindal Steel & Power Ltd, one of India's leading steel producers with global subsidiaries, reported Q2 FY26 results with: Revenues of \u20b911,686 crore, up 4.22% from \u20b911,213 crore year on year. Total expenses increased 6.89% to \u20b910,726 crore from \u20b910,035 crore. Consolidated net profit declined 26.16% to \u20b9635 crore from\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/ST.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/ST.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/ST.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/ST.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/ST.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/ST.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":172048,"url":"https:\/\/alphastreet.com\/india\/welspun-corp-q2-fy26-earnings-results\/","url_meta":{"origin":171675,"position":2},"title":"Welspun Corp Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"November 3, 2025","format":false,"excerpt":"WCL is one of the largest manufacturers of large diameter pipes globally. The company also manufactures BIS-certified Steel Billets, TMT (Thermo-Mechanically Treated) Rebars, Ductile Iron (DI) Pipes, Stainless Steel Pipes, and Tubes & Bars. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Welspun Corp Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Welspun-Corp-Q2-FY26-Earings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Welspun-Corp-Q2-FY26-Earings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Welspun-Corp-Q2-FY26-Earings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Welspun-Corp-Q2-FY26-Earings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Welspun-Corp-Q2-FY26-Earings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Welspun-Corp-Q2-FY26-Earings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":166619,"url":"https:\/\/alphastreet.com\/india\/jindal-saw-ltd-q3fy25-6-fall-in-profits\/","url_meta":{"origin":171675,"position":3},"title":"Jindal Saw Ltd Q3FY25; 6% fall in Profits","author":"Chirag Gupta","date":"February 3, 2025","format":false,"excerpt":"Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets. Financial Results: Jindal Saw Ltd reported Revenues for Q3FY25 of \u20b95,271.00 Crores down from \u20b95,656.00 Crore year on year, a fall of 6.81%. Total Expenses for Q3FY25 of \u20b94,656.00 Crores down from \u20b94,997.00 Crores year on\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":172634,"url":"https:\/\/alphastreet.com\/india\/venus-pipes-q2-fy26-earnings-results\/","url_meta":{"origin":171675,"position":4},"title":"Venus Pipes Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"November 21, 2025","format":false,"excerpt":"Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes\/pipes and welded tubes\/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Venus Pipes Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Venus-Pipes-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Venus-Pipes-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Venus-Pipes-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Venus-Pipes-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Venus-Pipes-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/Venus-Pipes-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":161119,"url":"https:\/\/alphastreet.com\/india\/jindal-saw-ltd-q4fy24-48-rise-in-profits\/","url_meta":{"origin":171675,"position":5},"title":"Jindal Saw Ltd Q4FY24; 48% rise in Profits","author":"Divyansh_Kasana","date":"May 14, 2024","format":false,"excerpt":"Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets. Financial Results: Jindal Saw Ltd reported Revenues for Q4FY24 of \u20b94,919.00 Crores up from \u20b94,520.00 Crore year on year, a rise of 8.83%. Total Expenses for Q4FY24 of \u20b94,297.00 Crores up from \u20b94,232.00 Crores year on\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-98.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-98.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-98.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-98.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-98.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-98.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/171675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1932"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=171675"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/171675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/171676"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=171675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=171675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=171675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}