Jindal Stainless Q4 FY26 profit seen at ₹853 cr

What brokerages are pencilling in for Q4 FY26

Jindal Stainless’ standalone net profit for the March quarter is estimated at ₹8.53 billion, based on the average of estimates from seven brokerages. The estimate implies profit is up more than 10% year-on-year and up 23% quarter-on-quarter, as per the compiled projections. The highest profit estimate cited is ₹10.78 billion from Batlivala & Karani Securities India Pvt. Ltd. The lowest profit estimate is ₹7.66 billion from Motilal Oswal Financial Services Ltd.

On revenue, brokerages estimate Jindal Stainless’ standalone revenue at ₹108.08 billion for the March quarter. That revenue estimate is described as flat year-on-year and up nearly 2% quarter-on-quarter. The highest revenue estimate is ₹113.70 billion from Prabhudas Lilladher Pvt. Ltd. The lowest is ₹104.01 billion from Nuvama Wealth Management Ltd.

ICICI Securities’ snapshot for Jindal Stainless

In a separate set of expectations, ICICI Securities projected Jindal Stainless’ January to March 2026 quarter net profit at ₹8.347 billion, describing it as up 41.3% year-on-year and up 0.7% quarter-on-quarter. Net sales were forecast at ₹108.355 billion, up 6.2% year-on-year and 3% quarter-on-quarter, according to the brokerage. ICICI Securities also projected EBITDA of ₹14.417 billion, up 35.9% year-on-year and 2.4% quarter-on-quarter. The note also cited a market value of around ₹640 billion, with the stock trading near ₹770.

A recent reported quarter: profit and revenue vs estimates

The provided information also references a quarter in which Jindal Stainless reported net profit of ₹5.91 billion, described as up 18% and above a Bloomberg consensus estimate of ₹5.26 billion. Revenue in that quarter was reported at ₹101.98 billion, up 8%, compared with ₹94.54 billion in the previous quarter. EBITDA was stated at ₹10.61 billion, up 2.5%, with a margin of 10.4% versus 11%.

Why steel earnings matter this season

The estimates for Jindal Stainless are arriving in a broader results season where investors are also tracking operating performance and volume trends across steel producers. The same compilation notes an upbeat view for India’s Metal and Mining sector, linked to government infrastructure spending and domestic steel demand. Domestic steel demand is referenced as expected to grow 9-10%, alongside higher steel prices since late 2025 supporting profitability.

Jindal Steel Q4 FY26: a sharp sequential turnaround

Separately, Jindal Steel reported a sharp sequential rise in consolidated net profit for the quarter ended March 2026. Consolidated net profit rose to ₹10.41 billion in Q4 FY26, compared with ₹1.89 billion in Q3 FY26, described as a surge of over 451%. Revenue increased to ₹193.99 billion in Q4 FY26 from ₹151.72 billion in Q3 FY26.

The audited results cited gross revenue of ₹193.99 billion in Q4 FY26, compared with ₹151.72 billion in Q3 FY26 and ₹155.25 billion in Q4 FY25. EBITDA increased to ₹26.47 billion from ₹15.93 billion, reflecting a 66% jump quarter-on-quarter. Profit before tax rose to ₹10.74 billion from ₹3.39 billion in Q3 FY26. The company attributed the performance to higher revenues supported by “record sales,” as referenced in the provided text.

Context from Jindal Stainless’ earlier quarter disclosure

For the quarter ended December 31, 2025, Jindal Stainless reported sales volume of 649,857 tonnes, up 10.6% year-on-year. Standalone net revenue for that quarter was ₹106.32 billion, up 5.6% year-on-year. These operational and revenue datapoints provide recent context for how volumes and pricing may have shaped the run-rate into the March quarter.

Key numbers at a glance

Jindal Stainless: Q4 FY26 preview (standalone)

Jindal Steel: Q4 FY26 reported (consolidated)

Market impact: what investors will likely track

For Jindal Stainless, the immediate focus is on whether standalone profit lands closer to the broker consensus (₹8.53 billion) or toward the wider range flagged by estimates (₹7.66 billion to ₹10.78 billion). The revenue consensus (₹108.08 billion) is described as flat year-on-year, so attention typically shifts to profitability drivers such as operating leverage and costs when topline growth is limited. In parallel, Jindal Steel’s Q4 FY26 print shows how quickly earnings can swing quarter-to-quarter when revenues and EBITDA improve sharply.

Why the story matters

Taken together, the numbers show two distinct narratives within listed Indian metals. Jindal Stainless is heading into the March quarter with expectations of steady revenue and improved profit, with brokers differing meaningfully on where the bottom line settles. Jindal Steel’s reported Q4 FY26 outcome highlights the sensitivity of profits to sequential changes in sales and operating metrics, with EBITDA and profit before tax rising sharply from Q3. Investors tracking the sector will likely compare these prints and estimates against broader demand indicators and price trends referenced in the outlook for domestic steel consumption.

Conclusion

Brokerage expectations place Jindal Stainless’ Q4 FY26 standalone profit at ₹8.53 billion on revenue of ₹108.08 billion, with a wide estimate range across houses. Separately, Jindal Steel has already reported a steep sequential jump in Q4 FY26 profit alongside higher revenue and EBITDA. The next clear catalyst for Jindal Stainless will be the company’s reported quarterly numbers, which will allow a direct comparison against the consensus and the highest and lowest brokerage forecasts.