Jindal Saw Ltd.Revenue +14%, EBITDA ₹265 Cr, order book ₹17,000 Cr

Jindal Saw's Q2 FY27 call, held on 19 October 2026, reported standalone gross revenue of ₹3,881 crore, up 14%, but EBITDA fell to ₹265 crore from ₹335 crore a year ago and profit after tax to ₹71 crore.

Consolidated profit after tax was ₹35 crore against ₹139 crore. Management blamed the West Asia war, which has delayed a 6 lakh ton Saudi job-work order and curbed the Abu Dhabi ductile plant, together with higher logistics and coking coal costs, weak domestic water demand and a poorer pellet mine. The order book is about ₹17,000 crore including $625 million of letters of intent from outside the Middle East, with production starting around February or March.

Management expects H2 to be better than H1 and margins to move toward double digits from Q3 or Q4. The $330 million Abu Dhabi seamless plant and a Saudi joint venture are on track for FY28-29. It gave no margin for the new orders and no date for the Saudi order.