Jindal Steel Reports Q1 Profit Drop and Restructures Leadership

Jindal Steel reported a consolidated net profit of ₹843.80 crore for the first quarter of FY27, marking a 43.6% year-on-year decline from ₹1,495.97 crore. Although consolidated revenue from operations rose 25.9% year-on-year to ₹15,482.13 crore, it fell sequentially from ₹16,217.93 crore in the previous quarter. The company credited tighter cost controls and a higher proportion of value-added steel in its sales mix for an adjusted EBITDA of ₹2,667 crore, while attributing softer volumes to planned maintenance shutdowns.

On July 24, 2026, the company implemented a comprehensive leadership restructuring following the exit of CEO Gautam Malhotra. Vidya Rattan Sharma was appointed as additional director and managing director for a two-year term. Other key executive appointments include Sandeep Modi as Chief Financial Officer, Rajiv Kumar as Chief Operating Officer, and Sukhjit S. Pasricha as Head of Human Resources. Additionally, the company appointed S S Kothari Mehta & Co. LLP as statutory auditors for a five-year term.