Result Update
Jindal Steel Ltd
Metals & Mining
Buy
Current Price 1074
Target Price 1400
October 29, 2025
Weak prices and high CoP hit earnings
Jindal Steel (JINDALST) reported weak, but in-line Q2FY26 consolidated adjusted EBITDA of INR18.75bn (Nuvama estimate: INR19.37bn), down 37% QoQ, and adjusted EBITDA/t of INR10,027/t, down INR5,652/t QoQ, owing to lower