Key Financial Highlights (Q3 FY25 vs Q3 FY24)
- Revenue from Operations: ₹10,065.60 crore, up from ₹9,087.57 crore (+10.8%)
- Total Income: ₹10,202.75 crore (+9.5%)
- EBITDA: Not explicitly stated
- Profit Before Tax (PBT): ₹831.52 crore (-14.7%)
- Profit After Tax (PAT): ₹618.64 crore (-20.6%)
- Earnings Per Share (EPS): ₹7.51 (Q3 FY24: ₹9.46)
- Interim Dividend: ₹1 per share (50% payout, face value ₹2 per share)
Segment-Wise Performance
Stainless Steel Business
- Cost of materials consumed: ₹6,928.03 crore (+5.2%)
- Purchases of stock-in-trade: ₹80.22 crore (+11.7%)
- Changes in inventories of finished goods, stock-in-trade, and work-in-progress showed a decline of ₹162.60 crore, indicating improved efficiency in inventory management.
- Depreciation and amortization expenses increased 3.7% to ₹189.27 crore.
Expenses & Profitability
- Employee benefits expense: ₹185.56 crore, up from ₹133.66 crore (+38.8%)
- Finance costs: ₹119.76 crore, up from ₹93.41 crore (+28.2%)
- Power & Fuel Costs: ₹585.19 crore, up from ₹562.21 crore (+4.1%)
- Other expenses: ₹962.88 crore, up from ₹856.34 crore (+12.5%)
Nine-Month Performance (9M FY25 vs 9M FY24)
- Revenue: ₹29,396.15 crore (+2% YoY)
- Profit After Tax (PAT): ₹1,786.25 crore (-13.0%)
- Total expenses: ₹27,263.31 crore (+3.1%)
- Net Worth: ₹15,348.98 crore (+15.9%)
Debt & Financial Ratios
- Debt-to-equity ratio: 0.33 (Q3 FY24: 0.32)
- Interest service coverage ratio: 9.52x (Q3 FY24: 13.39x)
- Operating margin: 9.97% (Q3 FY24: 11.23%)
- Net profit margin: 6.15% (Q3 FY24: 8.58%)
Corporate Developments
- Investment in Captive Power Plant: JSL has invested ₹68.75 crore in Renew Green (MHS ONE) Pvt. Ltd. to set up a captive power plant for its Jajpur facility.
- ESOP Implementation: JSL granted 1.24 million employee stock options (ESOPs) in December 2024 as part of its long-term employee retention program.
- Joint Ventures & Expansion: The company is in the process of setting up a stainless steel melt shop (SMS) in Indonesia, increasing its capacity from 3 MTPA to 4.2 MTPA.
Outlook & Future Strategy
Managing Director Abhyuday Jindal remains optimistic, citing strong demand from infrastructure, automotive, and industrial sectors. However, he highlighted rising input costs and currency volatility as potential challenges. The company continues to focus on sustainability, operational efficiencies, and global expansion.Jindal Stainless Limited continues to strengthen its position as India’s leading stainless steel manufacturer, maintaining a positive outlook for the remainder of FY25.