Jindal Steel Limited · NSE:JINDALSTEL
Jindal Steel — Q2 FY27 Earnings Presentation
26 slides from Jindal Steel's earnings presentation, Oct 23, 2026
Slide 1: Exchange filing cover letter
October 23, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai-400051 co
Slide 2: Jindal Steel Ltd. Q2FY27 Earnings Presentation
Jindal Steel Ltd. (erstwhile Jindal Steel & Power Ltd.) Q2FY27 Earnings Presentation 23rd Oct 2026
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation may contain certain forward looking statements concerning steel sector, economy and Jindal Steel Limited future business prospects and profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from
Slide 4: Jindal Steel – Building a Nation of our Dreams
Jindal Steel – Building a Nation of our Dreams Growth Focussed Strong Financials Sustainability Driven Industry 4.0 & AI • Scaling up world-class, integrated • Best in class balance sheet • World's first and largest coal • Enterprise AI Transformation — steel production capacity gasification plant f
Slide 5: World class assets – Built across an integrated value chain
World class assets – Built across an integrated value chain Iron Ore Iron Making Liquid Steel Finished Steel 13.61 ✓ # 17.02 15.60 ✓ # 13.75 MTPA MTPA MTPA MTPA 15.02 ✓ # 13.25 ✓ # 10.61 10.42 9.60 7.25 MTPA MTPA MTPA MTPA Iron-ore^ Steel Melting Shop (SMS) Flats Direct Reduce Iron (DRI) 3.11 MTPA 7
Slide 6: Consolidated performance highlights – Q2FY27
Consolidated performance highlights – Q2FY27 INR 19,448 cr 2,504 cr INR 771 cr Performance highlights Gross Revenue Adjusted EBITDA Profit after Tax 2.40 MT 2.38 MT 1.51x Production Sales Net Debt to EBITDA Other key highlights • 18 MTPA Iron ore Slurry pipeline commissioned • Guinness World Record
Slide 7: Jindal Steel Sets a Guinness World Record
Jindal Steel Sets a Guinness World Record Jindal Steel has been awarded the Performance highlights Guinness World Record for the world’s longest road built exclusively with processed steel slag, developed in collaboration with CSIR–CRRI* in Raigarh. 1.85 km Road length The road shows how circularity
Slide 8: Global steel demand outlook - India leads growth through CY27
Global steel demand outlook - India leads growth through CY27 World China India Industry update 1,780 2% 3% 800 -2% -1% 0% 195 8% 12% 0% 8% 8% -2% -7% 180 1,755 775 -5% 6% -2% 165 1,730 750 -10% 0% 150 -7% 1,724 1,752 1,722 1,705 725 -15% -6% 780 796 772 186 160 135 172 1,680 -12% 700 -20% 120 -12%
Slide 9: India steel scenario – Q2FY27
India steel scenario – Q2FY27 Crude Steel Production (mt) Finished Steel Production (mt) Finished Steel Consumption (mt) Industry update +3% +4% +8% +3% 82.5 85.1 +3% +7% 78.7 81.8 84.9 78.9 +2% +2% +4% 41.6 42.1 43.0 40.0 40.6 41.2 41.6 43.4 40.5 Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 Q2FY26 Q1FY27 Q2F
Slide 10: Seasonal weakness and higher coal cost impacted margins
Seasonal weakness and higher coal cost impacted margins HRC: India domestic and Export FOB Coking Coal: Premium HCC (CNF Australia origin) HRC premium to TMT (INR/t) HCC (USD/t) Q2FY26 Q1FY27 Q2FY27 Abs YoY Abs QoQ 10,000 Industry update HRC (INR/t) Q2FY26 Q1FY27 Q2FY27 Abs YoY Abs QoQ Dom Mum 49,52
Slide 11: Operational highlights – Q2FY27
Operational highlights – Q2FY27 Crude Steel Production (mt) Sales (mt) Operational highlights +17% Share of Flats 50% 53% 61% 46% 57% 4.79 +22% +20% 4.09 +27% 4.61 0% +6% 3.78 2.40 2.40 2.00 2.23 2.38 1.87 Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 Domestic Sales (mt) Expo
Slide 12: Diversified product mix supported by a widening distribution network
Diversified product mix supported by a widening distribution network Sector wise Sales distribution TMT Sales Distribution, in ‘000 tonnes Operational highlights Number of 5,003 5,888 6,010 3% 3% 4% dealers 19% 18% 17% 451 528 356 11% 19% 26% 49% 47% 32% 65% 29% 27% 35% 31% 51% 53% 25% 35% Q2FY26 Q1
Slide 13: Supporting India's infrastructure build-out
Supporting India’s infrastructure build-out 7 Operational highlights Adani Connex Data Center Versova Bandra Sea-Link Road Amaravati Secretariat Gujarat Maharashtra Andhra Pradesh Project Varsha Nuclear Power Plant - Gorakhpur High Speed Rail Andhra Pradesh Uttar Pradesh Gujarat & Maharashtra © 2026
Slide 14: AI across People, Processes and Plants
AI across People, Processes and Plants Employee productivity 1 Business execution 2 Plant performance 3 Digital and AI More time for higher-value added Faster, controlled processes Safer, more efficient operations work AI assistants reduce manual effort across the Function-specific agents automate r
Slide 15: Digital priorities powering FY27 performance
Digital priorities powering FY27 performance Digital and AI Production performance Plant and logistics Commercial and functions Workforce and resilience Lean production planning Integrated Smart Port One Intelligent Procurement Jindal Suraksha Kavach Solution Sales-order automation Smart logistics p
Slide 16: ESG in action
ESG in action Sustainability Logistics Circularity Proactive Clean energy Resilience at scale safety innovation A landmark in A world record Smartwatch for SmartFlower takes iron ore logistics built from steel slag real-time safety root at Angul Slurry pipeline Guinness World Suraksha Kavach Intelli
Slide 17: Touching lives across communities
Touching lives across communities CSR Drinking Water & ~1.2 million Sanitation ~ 5.5 lacs No. of Community Members Benefited Beneficiaries Rural Infrastructure Health & Nutrition ~2.1 lacs Beneficiaries 2 lacs+ Beneficiaries Students Supported Artists & Community ~50k through Education 1,000+ Member
Slide 18: Awards & Accolades
Awards & Accolades • Bharat CSR & Sustainability Summit & Awards • Excellence in Stakeholder Engagement and Value Creation • CSR Journal Excellence Award • CSR Universe Award- 2026 for women and child • Golden Peacock CSR development Awards Award • AIBCF CSR & • GEEF Global Water Tech Award 2026 for
Slide 19: Q2FY27 Highlights – Consolidated
Q2FY27 Highlights – Consolidated Financials ₹ 19,448 cr ₹ 2,504 cr ₹ 10,529 ₹ 771 cr Gross revenue* Adjusted EBITDA# Adjusted EBITDA per ton PAT Q1FY27 - ₹ 17,834 cr Q1FY27 - ₹ 2,667 cr Q1FY27 - ₹ 11,937 Q1FY27 - ₹ 844 cr Q2FY26 - ₹ 13,505 cr Q2FY26 - ₹ 1,875 cr Q2FY26 - ₹ 10,010 Q2FY26 - ₹ 635 cr 2
Slide 20: Financial performance – Consolidated
Financial performance – Consolidated INR cr Quarterly Performance Half Yearly Performance Financials Particulars Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Gross Revenue* 19,448 17,834 13,505 37,282 27,841 Net Revenue 16,704 15,501 11,708 32,205 24,033 Adjusted EBITDA** 2,504 2,667 1,875 5,171 4,859 Depreci
Slide 21: Key factors driving the consolidated performance – Q2FY27
Key factors driving the consolidated performance – Q2FY27 All figures in INR Cr Key factors Financials Volumes • Production volume was stable sequentially despite monsoon season • Sales volume increased QoQ, supported by inventory liquidation Revenue / ASP • Net revenue increased QoQ, driven by high
Slide 22: Financial performance – Standalone
Financial performance – Standalone INR cr Quarterly Performance Half Yearly Performance Financials Particulars Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Gross Revenue* 17,721 17,565 14,021 35,286 28,527 Net Revenue 15,289 15,292 12,119 30,581 24,555 Adjusted EBITDA** 1,865 2,227 1,752 4,092 4,610 Depreciat
Slide 23: Q2FY27 Net debt and EBITDA bridge
Q2FY27 Net debt and EBITDA bridge Consolidated Net Debt Movement (INR cr) Financials 15,927 14,786 93 -517 468 -1,185 As at 30th Jun’26 Long term Long term debt Short term loans Change in C&CE As at 30th Sep’26 debt raised repayment Consolidated Adjusted EBITDA Movement (INR cr) 2,667 198 172 -533 2
Slide 24: Scaling through disciplined investment with continuous deleveraging
Scaling through disciplined investment with continuous deleveraging Net Debt (INR cr) Cumulative Capex (INR cr) Financials -59% 35,918 22,146 8,876 6,953 11,203 11,957 16,019 15,927 14,786 1,665 2,515 5,304 11,752 20,269 30,876 40,450 42,409 43,637 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Q1FY27 Q2FY27 FY
Slide 25: Capital allocation framework – status update
Capital allocation framework – status update Our commitment Current status Financials ➢ Continue to invest in steel & ancillary business Scope & area of ➢ Continue to invest - Angul expansion (mines, power, ports) with green-tech primarily operations • Slurry pipeline commissioned in India (organic
Slide 26: Investor Relations Contact
Investor Relations Contact: [email protected] Corporate Office: Jindal Centre 12, Bhikaiji Cama Place, New Delhi Website – www.jindalsteel.in © 2026 Jindal Steel. All rights reserved.