Jindal Saw Surges 18% on Strong Q3 Profit Beat

INDUSTRIAL-GOODSSERVICES

Overview

Jindal Saw shares surged nearly 18% on Monday, reaching an intraday high of ₹182 on the NSE. The significant jump followed the company's announcement of strong quarter-on-quarter (QoQ) improvements in its financial results for Q3 FY26. Profit after tax (PAT) leaped 78.7% to ₹247.6 crore, while revenue also saw a 16.4% QoQ increase.

Sequential Recovery Fuels Stock Surge

The market reaction highlighted investor optimism over the sequential recovery in performance, overriding concerns about a year-on-year contraction. While Profit After Tax (PAT) declined 48.4% from the previous year to ₹247.6 crore, the substantial quarter-on-quarter growth from ₹138.6 crore in Q2 FY26 signaled a turnaround. Similarly, revenue climbed 16.40% sequentially to ₹4,963 crore, despite a 6.20% year-on-year dip.

Operational Gains and Future Investments

Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) also reflected this sequential strength, rising 31.30% QoQ to ₹632.2 crore. This improvement was partly driven by the iron and steel pipe business, which saw its total order book volume expand slightly to 1.96 million MT by December 2025. However, the company noted persistent challenges in its water pipe business in India.

Management pointed to ongoing capital investments aimed at enhancing operational efficiency and productivity. The new piercing mill in the seamless plant commenced production in Q3 FY26, with efforts now focused on achieving stable output. These strategic investments are expected to bolster profitability over the coming periods.

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