{"id":178954,"date":"2026-02-02T06:08:38","date_gmt":"2026-02-02T11:08:38","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=178954"},"modified":"2026-02-02T06:08:38","modified_gmt":"2026-02-02T11:08:38","slug":"jindal-steel-power-hits-q3-revenue-milestone-as-angul-expansion-nears-completion","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/jindal-steel-power-hits-q3-revenue-milestone-as-angul-expansion-nears-completion\/","title":{"rendered":"Jindal Steel & Power Hits Q3 Revenue Milestone as Angul Expansion Nears Completion"},"content":{"rendered":"\n

Jindal Steel & Power Limited (NSE: JINDALSTEL, BSE: 532286)<\/strong> shares closed at INR 942.50<\/strong> on Monday, representing a 1.24% increase<\/strong> from the previous session’s close. The company\u2019s market capitalization stands at approximately INR 961.45 billion<\/strong> (USD 11.52 billion) as of the market close on February 2, 2026.<\/p>\n\n\n\n

Latest Quarterly Results<\/strong><\/h2>\n\n\n\n

For the third quarter of fiscal year 2026, Jindal Steel & Power (JSPL) reported consolidated revenue from operations of INR 142.10 billion<\/strong>, a 5.8% increase<\/strong> compared to the same period in the previous fiscal year. Consolidated net profit for the quarter was recorded at INR 16.25 billion<\/strong>, reflecting a YoY growth of 9.2%<\/strong>.<\/p>\n\n\n\n

Segment performance highlights for the quarter include:<\/p>\n\n\n\n

    \n
  • Steel:<\/strong> Revenue of INR 131.40 billion; production volumes increased by 4% YoY.<\/li>\n\n\n\n
  • Power:<\/strong> Revenue of INR 9.80 billion; generation levels maintained in line with seasonal averages.<\/li>\n\n\n\n
  • Mining:<\/strong> Captive coal operations provided 85% of thermal coal requirements for domestic plants.<\/li>\n\n\n\n
  • International:<\/strong> Contributions from Australian and African mining assets remained stable relative to Q2 FY26.<\/li>\n<\/ul>\n\n\n\n
    \n\n\n\n

    FINANCIAL TRENDS<\/strong><\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n
    \"\"<\/figure>\n\n\n\n
    \n\n\n\n

    Business & Operations Update<\/strong><\/h2>\n\n\n\n

    The company confirmed the commissioning of the hot strip mill at its Angul plant, adding 6 million tonnes per annum (MTPA) to its processing capacity. Regulatory filings indicate the company has secured additional iron ore linkages through successful bids in recent state auctions. Operational restructuring continues within the overseas subsidiaries to streamline debt obligations.<\/p>\n\n\n\n

    Strategy Analysis<\/h3>\n\n\n\n

    The company\u2019s strategic shift is centered on three pillars: logistics efficiency<\/strong>, raw material security<\/strong>, and product premiumization<\/strong>.<\/p>\n\n\n\n

    The commissioning of the 200 km slurry pipeline<\/strong> is expected to be the single largest contributor to cost-competitiveness in FY27, as it eliminates rail and road freight for iron ore fines. Additionally, the full synchronization of the 1,050 MW power plant<\/strong> provides energy self-sufficiency, insulating margins from volatile grid power pricing.<\/p>\n\n\n\n

    Q&A Focal Points: Q3 FY26<\/h3>\n\n\n\n

    During the post-earnings investor call, management addressed several key operational and financial concerns:<\/p>\n\n\n\n

      \n
    • Margin Compression & Cost Overruns:<\/strong> Management attributed the sharp decline in EBITDA per tonne to higher operational expenditures, specifically the INR 3.5 billion<\/strong> impact of external coke purchases and initial teething issues during the ramp-up of the BF2 furnace at Angul.<\/li>\n\n\n\n
    • Capacity Ramp-up Schedule:<\/strong> Analysts questioned the timeline for the 3 MTPA Basic Oxygen Furnace (BOF-III)<\/strong> and the slurry pipeline. The company confirmed both remain on track for commissioning by the end of Q4 FY26, which is expected to deliver cost savings of INR 750\u2013850 per tonne<\/strong>.<\/li>\n\n\n\n
    • Pricing Realizations:<\/strong> The Q&A highlighted a 7.2% sequential decline<\/strong> in average Net Sales Realization (NSR), driven by a higher volume of lower-margin flat products. Management indicated that pricing dynamics have improved since December 2025, with domestic steel prices rising by INR 3,000\u20133,500 per tonne<\/strong> in January 2026.<\/li>\n<\/ul>\n\n\n\n

      Debt and Capex Outlook<\/strong> <\/h2>\n\n\n\n

      With net debt rising to INR 154.43 billion<\/strong>, management clarified that the leverage increase is temporary and linked to the intensive INR 20.76 billion<\/strong> quarterly capital expenditure. They reiterated their commitment to the long-term goal of reaching a 15.6 MTPA<\/strong> capacity.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Jindal Steel & Power Limited (NSE: JINDALSTEL, BSE: 532286) shares closed at INR 942.50 on Monday, representing a 1.24% increase from the previous session’s close. The company\u2019s market capitalization stands at approximately INR 961.45 billion (USD 11.52 billion) as of the market close on February 2, 2026. Latest Quarterly Results For the third quarter of […]<\/p>\n","protected":false},"author":2392,"featured_media":125416,"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":[5,1941,392,5753],"tags":[10169,14492,9858],"class_list":["post-178954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-stock-analysis","category-earnings","category-industrials","tag-earnings","tag-financial-results","tag-jindalstel"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":136552,"url":"https:\/\/alphastreet.com\/india\/infographic-jindal-steel-and-power-ltd-nse-jindalstel-q2-results-released-expenses-up-24-35-yoy\/","url_meta":{"origin":178954,"position":0},"title":"Infographic : Jindal Steel and Power Ltd. (NSE : JINDALSTEL) | Q2 Results Released! | Expenses UP 24.35% YoY","author":"Divyansh_Kasana","date":"November 11, 2022","format":false,"excerpt":"Jindal Steel and Power Limited (JINDALSTEL) is an India-based steel producer. The Company's segments include Iron & Steel, Power and Other. The Other segment consists of aviation services and machinery division. The Company's product portfolio consists of steel product mix, construction solutions, and construction material and solutions. Its steel product\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"GABRIEL","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1320950393.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1320950393.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1320950393.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1320950393.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":178523,"url":"https:\/\/alphastreet.com\/india\/jindal-drilling-net-profit-climbs-20-as-offshore-demand-firms\/","url_meta":{"origin":178954,"position":1},"title":"Jindal Drilling Net Profit Climbs 20% as Offshore Demand Firms","author":"Staff Correspondent","date":"January 30, 2026","format":false,"excerpt":"Jindal Drilling And Industries Limited (NSE: JINDRILL \/ BSE: 500231) closed at INR 642.15 on January 30, 2026, representing a 1.45% increase from the previous session's close. The offshore drilling services provider saw its shares fluctuate between an intraday low of INR 631.00 and an intraday high of INR 648.50.\u2026","rel":"","context":"In "LATEST"","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":139595,"url":"https:\/\/alphastreet.com\/india\/jindal-steel-consolidated-pat-down-to-%e2%82%b9518-crore\/","url_meta":{"origin":178954,"position":2},"title":"Jindal Steel & Power Limited Q3 FY23; Consolidated PAT Down To \u20b9518 Crore","author":"Hardik Bhandare","date":"January 31, 2023","format":false,"excerpt":"Jindal Steel & Power Limited (NSE: JINDALSTEL) reported a Revenue from Operations of \u20b912,632.44 Crores, a flat growth of 1% from the previous year. The Consolidated Net Profit for the business declined by -72% year over year, to \u20b9518.27 Crore from \u20b91,866.08 Crore. Earnings per Share is \u20b95.16 for this\u2026","rel":"","context":"In "AlphaGraphs"","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\/2023\/01\/be1561f1-0515-429e-80e0-fd5b3f9188c6-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be1561f1-0515-429e-80e0-fd5b3f9188c6-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be1561f1-0515-429e-80e0-fd5b3f9188c6-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be1561f1-0515-429e-80e0-fd5b3f9188c6-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be1561f1-0515-429e-80e0-fd5b3f9188c6-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/be1561f1-0515-429e-80e0-fd5b3f9188c6-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":128242,"url":"https:\/\/alphastreet.com\/india\/jindal-steel-power-limited-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":178954,"position":3},"title":"Jindal Steel & Power Limited Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"March 14, 2022","format":false,"excerpt":"https:\/\/youtu.be\/VEdT6Iw9YGo Key highlights from Jindal Steel & Power Limited (JINDALSTEL) Q3 FY22 Earnings Concall Management Update: JINDALSTEL commented that it will be ending up FY22 by producing 118 million tonnes steel in the country. And out of that, about 12 million tonnes will be exports, and 102 million to 104\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":128391,"url":"https:\/\/alphastreet.com\/india\/jindal-steel-power-research-tear-sheet-q3-fy-2022\/","url_meta":{"origin":178954,"position":4},"title":"Jindal Steel & Power Research Tear Sheet Q3 FY 2022","author":"sreerupa","date":"April 1, 2022","format":false,"excerpt":"Jindal Steel and Power Limited\u00a0is an Indian\u00a0steel\u00a0and\u00a0energy\u00a0company. The company has its headquarter in New Delhi, India. The company has its operation worldwide. The Founder of JSP is \u00a0O P Jindal. It mainly deals with the following products Steel,\u00a0Iron,\u00a0Electricity generation\u00a0and\u00a0distribution. JSPL has six major subsidiaries. Jindal Tamnar Thermal Power Plant, Jindal\u2026","rel":"","context":"In "Research Summary"","block_context":{"text":"Research Summary","link":"https:\/\/alphastreet.com\/india\/category\/research-summary\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":143022,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-jindal-steel-power-limited-for-q3-fy23\/","url_meta":{"origin":178954,"position":5},"title":"Earnings Summary Of Jindal Steel & Power Limited For Q3 FY23","author":"Hardik Bhandare","date":"February 28, 2023","format":false,"excerpt":"Jindal Steel & Power (NSE: JINDALSTEL) is an Indian steel and energy company founded in 1952 by O.P. Jindal. The company has a significant presence in steel, power, mining, and infrastructure sectors in India. JSPL's products include a wide range of steel products such as rails, plates, bars, angles, and\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/178954","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\/2392"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=178954"}],"version-history":[{"count":2,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/178954\/revisions"}],"predecessor-version":[{"id":178959,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/178954\/revisions\/178959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=178954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=178954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=178954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}