Jindal Stainless Reports 13.11% Dip in Q1FY25 Profit

02 Aug 2024 CW Team

The board of Jindal Stainless has given in-principle approval to raise ?50 billion through equity and/or debt instruments. Managing Director Abhyuday Jindal stated that this resolution is aimed at preparing the company for various growth opportunities, both organic and inorganic.

?The domestic market is expected to expand, with newer sectors anticipated to grow even faster, driving increased demand in the stainless steel industry,? Jindal remarked.

The ongoing Red Sea issue has extended transit times and increased freight costs from India to the US and Europe, the company?s primary markets. ?The bigger impact this quarter was the availability and cost of containers,? Jindal explained during a media interaction post-results. The company is transitioning from container shipping to break-bulk to mitigate these challenges.

To counteract export disruptions, Jindal Stainless has increased sales in Southeast Asia and the Middle East and is exploring entry into the Japanese market. Despite the export challenges, the domestic market has shown steady growth, bolstered by government infrastructure investments. ?We are extremely positive on domestic demand, especially following the Budget outlay on infrastructure, railways, and defence,? Jindal noted.

Sales volumes for the company rose by 5.4% Y-o-Y. Jindal remains optimistic about export recovery, particularly in Europe, although the overall export guidance stays at 10-15%.

Jindal also emphasized the company's interest in partnering with the government on skill development initiatives and is exploring how to leverage government internship schemes for upskilling the stainless steel community.

Jindal Stainless announced a 13.11% year-on-year (Y-o-Y) decline in net profit to ?6.48 billion for the April-to-June quarter (Q1FY25), down from ?7.46 billion in the corresponding period last year. The company's revenue from operations on a consolidated basis stood at ?94.30 billion, marking a 7.4% Y-o-Y decrease. Sequentially, revenue saw a slight dip of 0.3%, while net profit increased by 29.4%. The board of Jindal Stainless has given in-principle approval to raise ?50 billion through equity and/or debt instruments. Managing Director Abhyuday Jindal stated that this resolution is aimed at preparing the company for various growth opportunities, both organic and inorganic. ?The domestic market is expected to expand, with newer sectors anticipated to grow even faster, driving increased demand in the stainless steel industry,? Jindal remarked. The ongoing Red Sea issue has extended transit times and increased freight costs from India to the US and Europe, the company?s primary markets. ?The bigger impact this quarter was the availability and cost of containers,? Jindal explained during a media interaction post-results. The company is transitioning from container shipping to break-bulk to mitigate these challenges. To counteract export disruptions, Jindal Stainless has increased sales in Southeast Asia and the Middle East and is exploring entry into the Japanese market. Despite the export challenges, the domestic market has shown steady growth, bolstered by government infrastructure investments. ?We are extremely positive on domestic demand, especially following the Budget outlay on infrastructure, railways, and defence,? Jindal noted. Sales volumes for the company rose by 5.4% Y-o-Y. Jindal remains optimistic about export recovery, particularly in Europe, although the overall export guidance stays at 10-15%. Jindal also emphasized the company's interest in partnering with the government on skill development initiatives and is exploring how to leverage government internship schemes for upskilling the stainless steel community.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..