Jindal Stainless Q4 net profit up 18% at Rs 591 cr on higher volumes

Jindal Stainless reported an 18 per cent rise in Q4 net profit to Rs 590.99 crore on higher sales volume and is optimistic about export growth amid new US tariff rules

Jindal Stainless on Thursday reported an 18.02 per cent year-on-year (Y-o-Y) increase in consolidated net profit in the fourth quarter of the financial year 2024-25 (Q4FY25) to ₹590.99 crore on the back of higher sales volume.

 

Net profit in the year-ago period had stood at ₹500.74 crore.

 

Revenue from operations on a consolidated basis was up 7.87 per cent Y-o-Y at ₹10,198 crore than ₹9,454.02 crore in the year-ago period. Sequentially, net profit was down by 9.8 per cent even as revenues were higher by 2.9 per cent.

 

Abhyuday Jindal, Managing Director of Jindal Stainless, said that (sales) volume growth for the financial year (FY25) was 9 to 10 per cent. For FY26 too, the company was expecting a 9-10 per cent volume growth.

 

For FY25, the company’s revenue from operations on a consolidated basis was at ₹39,312.21 crore, up 1.9 per cent Y-o-Y. Net profit at ₹2,505.20 crore, was down by 7.7 per cent Y-o-Y.

 

However, the company was optimistic about growth export volumes and eyeing a 30 per cent increase over last year. 

 

Jindal explained that the 25 per cent tariff announced on steel imports into the US would create a level playing field. The 25 per cent duty was already there on imports from India and China since 2018, he pointed out. “But now it’s a blanket duty on everybody.”

 

“A lot of enquiries were coming in. Customers we had lost out in 2018 are coming back. New customers are also interested in buying from us as they see India as a stable economy and source of high quality steel,” he added.

 

Jindal also said that Europe was also showing signs of recovery. The company expects the US and Europe to account for about 70-75 per cent of its export volume.

 

In FY25 exports accounted for 9 per cent of sales volume compared to 13 per cent in FY24.

 

Jindal Stainless recently signed a non-binding memorandum of understanding with the Maharashtra government with a possibility of an investment of ₹40,000 crore for setting up a stainless steel manufacturing facility. The facility is proposed to be developed over the next 10 years and is expected to create more than 15,000 jobs.

 

Jindal said, “We are very bullish on the domestic growth of stainless steel. As a company we want to maintain our leadership position.”

  On the issue of low-priced stainless steel, Jindal said that a dialogue was on with the government for an anti-dumping duty on stainless steel imports.