Jindal Saw Limited faced a significant 52% year-on-year decrease in its financial performance for the fourth quarter of FY26, with net profit dropping to Rs 139.4 crore from Rs 291 crore in the same period the previous year. The company’s revenue from operations also fell by 8% to Rs 4,633.5 crore from Rs 5,046.6 crore a year ago, as per its stock exchange filing.
Earnings before interest, tax, depreciation, and amortization (EBITDA) experienced a sharper decline of 34.7% to Rs 480.9 crore, down from Rs 736.1 crore in the corresponding quarter of the previous fiscal year. The company’s profitability margins were under strain during the quarter, with the EBITDA margin contracting to 10.4% from 14.6% a year earlier.
Despite the challenging earnings, Jindal Saw Limited’s board has proposed a dividend of Rs 2 per equity share of face value Rs 1 for FY26, subject to shareholder approval, amounting to approximately Rs 127.9 crore. The company also announced key board-level and audit-related appointments, including the addition of Ashutosh Karnatak as an additional independent director and the appointment of RJ Goel & Co as cost auditors and Deloitte Haskins and Sells LLP as internal auditors for FY27.
Moreover, the board has given initial approval to divest its wholly-owned subsidiary, Raleal Holdings Limited, Cyprus, which may occur through a sale or liquidation. However, the company clarified that the specifics of the transaction, including the timeline and agreement, are yet to be finalized. Prior to the earnings disclosure, Jindal Saw’s shares closed at Rs 245.50 on the National Stock Exchange on Monday, marking a 2.41% increase during the day.
