Jindal Steel & Power Limited — PPTs, 12-08-2025: Investor Presentation

**1. Financial Highlights:**

Jindal Steel posted Q1FY26 consolidated gross revenue of ₹14,336 Cr and PAT of ₹1,496 Cr. Adjusted EBITDA surged to ₹2,984 Cr, boosting EBITDA per ton to ₹15,680. Net Debt is ₹14,400 Cr, with Net Debt/EBITDA (TTM) at 1.49x, reflecting strong liquidity despite increased leverage.

**2. Strategic Initiatives & Growth Drivers:**

Key capacity additions include commissioning the Continuous Galvanizing Line (CGL-1), a 3.6 MTPA slab caster, and an Oxygen plant at Angul. Blast Furnace-2 hot metal is expected Q2FY26, and Utkal B1 mining commences, significantly enhancing future production capabilities.

**3. Business Developments:**

The company secured the Roida-I iron ore mine and started exploration at the Saradhapur coal block, strengthening raw material supply. Value-added sales hit a record 72%, supported by new products like "ZINKALUME" and an expanded pan-India distribution network.

**4. Market Position & Competitive Advantage:**

Jindal Steel holds a strong market position with a diversified, value-add product portfolio and "industry-leading" EBITDA per tonne. Its involvement in major infrastructure projects like the Pamban Bridge solidifies its role in national development and scale advantage.

**5. Investor Implications:**

Q1FY26 shows positive growth potential from margin expansion and strategic capacity/mine additions. However, Net Debt/EBITDA is at the upper end of the company's target. Investors should monitor softening steel demand from monsoon and continued high Chinese exports impacting prices.