Jindal Worldwide Q2 profit climbs 56% to Rs 18.58 crore

Jindal Worldwide Limited reported September-quarter consolidated profit attributable to owners of Rs 18.58 crore, 56% above Rs 11.91 crore a year earlier, as revenue from operations increased to Rs 594.88 crore for the quarter ended September 30, 2026. Jindal Worldwide disclosed the unaudited consolidated results on November 5, 2026.

What did Jindal Worldwide report for the September quarter?

Jindal Worldwide reported consolidated profit attributable to owners of Rs 18.58 crore for the quarter ended September 30, 2026, compared with Rs 11.91 crore in the quarter ended September 30, 2025. Consolidated profit for the period was Rs 18.57 crore, while a Rs 0.0015 crore loss attributable to non-controlling interests resulted in the higher amount attributable to the parent’s owners.

Revenue from operations rose to Rs 594.88 crore from Rs 573.34 crore a year earlier. Other income was Rs 0.50 crore, compared with Rs 0.36 crore, taking total income to Rs 595.38 crore from Rs 573.70 crore in the corresponding quarter.

Jindal Worldwide recorded basic and diluted earnings per share of Rs 0.19 in the September 2026 quarter, against Rs 0.12 a year earlier. The consolidated statement shows paid-up equity share capital of Rs 100.26 crore, unchanged across the reported periods.

How did Jindal Worldwide perform in the first half?

Jindal Worldwide’s profit attributable to owners for the half year ended September 30, 2026 rose to Rs 50.97 crore from Rs 29.35 crore in the previous corresponding half year. The Rs 21.62 crore increase in first-half attributable profit was larger than the Rs 6.66 crore year-on-year increase recorded in the September quarter alone.

First-half revenue from operations was Rs 1,176.20 crore, compared with Rs 1,173.24 crore a year earlier. Total income increased to Rs 1,184.94 crore from Rs 1,176.30 crore, while consolidated profit for the period rose to Rs 50.98 crore from Rs 29.35 crore.

Basic and diluted earnings per share for the six months were Rs 0.51, compared with Rs 0.29 in the prior-year period. Jindal Worldwide said the September 2026 quarterly figures are balancing figures between the unaudited half-year results and published June 2026 quarterly figures, which were subject to limited review.

Why did September-quarter profit fall from the June quarter?

Jindal Worldwide’s September-quarter attributable profit of Rs 18.58 crore was below Rs 32.40 crore in the quarter ended June 30, 2026, despite revenue increasing to Rs 594.88 crore from Rs 581.32 crore. The main disclosed difference was other income, which fell to Rs 0.50 crore in September from Rs 18.25 crore in June.

Total expenses were Rs 574.67 crore in the September quarter, compared with Rs 553.29 crore in the preceding quarter. Profit before tax and the share of profit from associates consequently declined to Rs 20.71 crore from Rs 36.27 crore, before the group’s share of associate profit of Rs 3.63 crore in September and Rs 3.45 crore in June.

Material consumed rose to Rs 458.04 crore in the September 2026 quarter from Rs 426.46 crore a year earlier. Finance cost increased to Rs 10.25 crore from Rs 8.01 crore, while employee-benefit expense rose to Rs 17.20 crore from Rs 16.12 crore; depreciation and amortisation declined to Rs 3.80 crore from Rs 4.29 crore.

What do the disclosures show about Jindal Worldwide’s businesses?

Jindal Worldwide identifies Textiles as its sole reportable segment under Indian Accounting Standard 108, which governs operating-segment reporting. Management has nevertheless shown the Electric Vehicles business separately because it believes this gives users of the financial statements useful information, although the supplied segment statement does not provide a complete numerical split.

The group lost control of EV Volt Private Limited on June 30, 2026 after disposing of a 45% equity interest in the former step-down subsidiary. Jindal Worldwide said it derecognised EV Volt’s assets, liabilities and non-controlling interests under Indian Accounting Standard 110, and recognised any retained investment at fair value on the date control was lost.

EV Volt subsequently became an associate of Jindal Worldwide through a subsidiary, with the gain or loss on the June 30 transaction recognised in other income. Evion Mobility Private Limited became a step-down subsidiary from August 11, 2026, while Goodcore Spintex Limited has been treated as an associate since Jindal Worldwide reduced its holding from 100% to 49% on August 6, 2025.

What changed in cash and the review of the results?

Jindal Worldwide ended the half year with cash and cash equivalents of Rs 3.89 crore, down from Rs 37.49 crore at the beginning of the period. The consolidated cash-flow statement recorded a net decrease of Rs 33.60 crore for the six months ended September 30, 2026.

The auditor, R. Choudhary & Associates, conducted a limited review rather than an audit of the interim consolidated results for the quarter and half year ended September 30, 2026. Its report stated that nothing had come to its attention to indicate that the statement failed to make the required disclosures or contained a material misstatement.

The review report also says that interim financial information for four divisions of the parent and four subsidiaries and step-down subsidiaries was reviewed by other auditors. Jindal Worldwide’s consolidated results included those reviewed figures, and the principal auditor’s conclusion on those components relied on the reports of the other auditors and its own review procedures.

Conclusion

Jindal Worldwide’s September-quarter results show profit attributable to owners rising faster than operating revenue, with attributable profit increasing 56% to Rs 18.58 crore while revenue rose to Rs 594.88 crore. For the first half, attributable profit reached Rs 50.97 crore on revenue of Rs 1,176.20 crore, compared with Rs 29.35 crore and Rs 1,173.24 crore respectively a year earlier.

The next disclosures will be relevant for the effect of EV Volt’s move from step-down subsidiary to associate after June 30, 2026, and of Evion Mobility joining the group from August 11, 2026. The filing identifies Textiles and separately presents Electric Vehicles, but does not provide a complete numerical segment split, leaving future segment disclosures as a point to watch.