Jindal Saw Limited — Investor Meet, 11-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Jindal Saw's Q1 FY26 results were softer due to EPC cash flow issues impacting water sector sales, geopolitical export deferrals (20,000 tons), and planned maintenance on a DI blast furnace (2 months) & pellet plant (1 month). Despite this, consolidated EBITDA reached INR 688 Cr (16%+ margin). The company boasts a robust order book of ~ $1.5 billion total (1.6 million tons confirmed, 265,000 tons LOIs for domestic ductile) and a $270 million UAE order book. Long-term debt is down. Management expects short-term funding challenges but a better outlook post-government disbursements, supported by new strategic projects in GCC/MENA for diversification and cost optimization efforts.