Jindal Saw Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The company reported a standalone total income of ₹41,570 million (₹4,157 crore) for Q3 FY26, a decrease from ₹45,209 million (₹4,520.9 crore) in the same quarter last year. Standalone EBITDA stood at ₹5,271 million (₹527.1 crore) for Q3 FY26, down from ₹8,821 million (₹882.1 crore) in Q3 FY25. Profit After Tax (PAT) on a standalone basis was ₹2,268 million (₹226.8 crore) for the quarter, compared to ₹4,772 million (₹477.2 crore) in the prior year's comparable quarter.

For the nine months ended December 31, 2025, standalone total income was ₹1,08,928 million (₹10,892.8 crore), down from ₹1,37,282 million (₹13,728.2 crore) in the corresponding period last year. Standalone EBITDA for the nine months was ₹14,215 million (₹1,421.5 crore), a decrease from ₹25,994 million (₹2,599.4 crore) in the previous year. Standalone PAT for the nine months ended December 31, 2025, was ₹6,700 million (₹670 crore), compared to ₹14,002 million (₹1,400.2 crore) in the same period last year.

The company's order book for Pipes and Pellets stands at approximately US$ 1,481 million. The Iron & Steel Pipes segment has an all-time high order book volume of approximately 1.96 million MT, with export orders accounting for about 37% of the total pipe order book volume. The execution of the outstanding order book is projected to span the next 9-12 months. The UAE entity has a separate order book of approximately USD 235 million (~215,000 MT).

Operationally, the company's performance in Q3 FY26 showed improvement over the past two quarters. The Iron & Steel Pipe business reported a rise in its total order book volume. However, the water pipe business in India faced challenges. The new piercing mill in the Seamless plant commenced production in Q3 FY26.

On a consolidated basis, total income for Q3 FY26 was ₹49,630 million (₹4,963 crore), down from ₹52,933 million (₹5,293.3 crore) in Q3 FY25. Consolidated EBITDA was ₹6,322 million (₹632.2 crore), a decrease from ₹9,614 million (₹961.4 crore) in the prior year. Consolidated PAT for the quarter was ₹2,476 million (₹247.6 crore), compared to ₹4,794 million (₹479.4 crore) in Q3 FY25.

Consolidated total income for the nine months ended December 31, 2025, was ₹1,33,300 million (₹13,330 crore), down from ₹1,58,804 million (₹15,880.4 crore) in the same period last year. Consolidated EBITDA for the nine months was ₹18,022 million (₹1,802.2 crore), a decrease from ₹27,912 million (₹2,791.2 crore) in the prior year. Consolidated PAT for the nine months was ₹8,017 million (₹801.7 crore), compared to ₹13,711 million (₹1,371.1 crore) in the same period last year.

Debt reduction has been observed, with long-term debt decreasing on both standalone and consolidated bases. In July 2025, CARE Ratings reaffirmed its ratings for short-term and long-term debt, and in October 2025, Brickwork Ratings reaffirmed its rating for Non-Convertible Debentures. Corporate updates include the performance of Jindal Hunting Energy Services Limited (a joint venture) and steady operations of Jindal Saw Gulf LLC in Abu Dhabi. A legal dispute between Jindal ITF and NTPC is ongoing, with the next hearing scheduled for February 2, 2026. The company is also establishing new seamless pipe manufacturing facilities in Abu Dhabi (UAE) and a SAW pipe manufacturing facility in Saudi Arabia (KSA), along with a Ductile Iron (DI) Pipe Facility in KSA.