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Jindal Saw Ltd on Friday, January 16, reported a sharp decline in its December quarter performance on a year-on-year basis, with profit, revenue and margins all coming under pressure. The company's net profit for the quarter fell 49% to ₹258 crore, compared with ₹506 crore in the same period last year.
Revenue from operations declined 6.2% to ₹4,943 crore from ₹5,271 crore a year ago, while EBITDA dropped 34.8% to ₹612.9 crore from ₹939.6 crore.
EBITDA margin contracted to 12.4% from 17.8% in the year-ago quarter.
The company said the group has only one reportable business segment—Iron & Steel Products—and accordingly no segment-wise information has been disclosed. It also noted that the current tax expense for the nine months ended December 31, 2025, is net of a tax refund receivable of ₹133.55 crore, arising from additional claims pertaining to earlier years that were adjudicated in favour of the holding company by the appellate authority.
In a regulatory filing, Jindal Saw further disclosed that Jindal ITF Limited (JITF), a subsidiary, is in appeal before the divisional bench of the Delhi High Court against a single-judge order that set aside an arbitral award of ₹1,891.08 crore plus interest and applicable taxes in its favour. Based on advice received after due consideration and consultation with a reputed independent legal counsel, the management said it believes it has an extremely strong case with the likelihood of an ultimately favourable outcome.
The company added that the subsidiary will be able to meet all its liabilities, monetise its assets at carrying values and continue to operate as a going concern, and therefore no adjustments have been made to the consolidated financial results for the quarter and nine months ended December 31, 2025.
