Updates

October 16, 2026 BSE Limited National Stock Exchange of India Limited, Corporate Relation Department Listing Department, 1st Floor, New Trading Ring Exchange Plaza, Rotunga Building Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Bandra (East) Mumbai - 400 001 Mumbai – 400 051 Stock code: 500378 Stock code: JINDALSAW Sub. : Financial / Operational Highlights - Quarter/half year Financial Results – Regulation 30 of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015 Dear Sirs, The Board of Directors of the Company has approved Unaudited (Standalone and Consolidated) Financial Results for the quarter/half year ended 30th September, 2026. The highlights of financial and operational performance which will be circulated to the investors’ community and other stakeholders is attached for your reference. This is for your information and record. Thanking you, Yours faithfully, for JINDAL SAW LTD., SUNIL K. JAIN COMPANY SECRETARY FCS : 3056 Encl. : As above GOALS FOR A BETTER FUTURE Financial Highlights Q2 FY27 Results October 16, 2026 Disclaimer Statements made during today’s discussion and those contained in this document could constitute “forward looking statements” including, without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that we have indicated could adversely affect our business and financial performance. Jindal Saw undertakes no obligation to publicly revise any forward looking statements to reflect future events or circumstances. Q2 FY27 Standalone Results Highlights Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Particulars (Rs in Million) (Rs in Million) (Rs in Million) (Rs in Million) (Rs in Million) (Rs in Million) Unaudited Unaudited Unaudited Unaudited Unaudited Audited Total Income (#) 38,814 37,557 34,091 76,371 67,359 1,47,445 EBITDA 2,654 3,410 3,349 6,064 8,944 18,346 Financial Costs (#) 920 707 1,084 1,627 2,394 4,702 Depreciation 1,294 1,253 1,217 2,547 2,433 4,944 Profit before Tax (PBT) 440 1,450 1,048 1,890 4,117 8,700 Provision for Tax* (267)* 352 255 85* (315) 860 Profit after Tax (PAT) 707 1,098 793 1,805 4,432 7,840 Ratios: EBITDA to total income 6.8% 9.1% 9.8% 7.9% 13.3% 12.4% PBT to total income 1.1% 3.9% 3.1% 2.5% 6.1% 5.9% PAT to total income 1.8% 2.9% 2.3% 2.4% 6.6% 5.3% Note : (#) Total Income and Financial Costs are net of the impact of foreign exchange fluctuations. The Company follows a policy and strategy of natural hedging of foreign exchange exposures. (*) Current tax expense for the quarter and half year ended September 30, 2026 is net of tax adjustments of ₹ 266.7 Million towards additional claims pertaining to earlier years adjudicated in favour of the Company by the Appellate Authority. Quarterly Financial Performance Trends – Standalone (Rs. In Mio.) Revenue EBITDA* EBITDA Margin (%) ** 12.7 41,570 38,517 37,557 38,814 10.7 34,091 5,271 4,131 3,349 3,410 2,654 30 Sep '25 31 Dec '25 31 Mar '26 30 Jun '26 30 Sep '26 30 Sep '25 31 Dec '25 31 Mar '26 30 Jun '26 30 Sep '26 *EBITDA: Earnings Before Interest, Tax, Depreciation & Amortization **Margin (%) rounded off to one decimal Term Debt-Institutional Working Capital Debt-Institutional # 5,536 5,339 5,293 5,257 5,220 27,568 26,199 19,239 18,199 17,226 30 Sep '25 31 Dec '25 31 Mar '26 30 Jun '26 30 Sep '26 30 Sep '25 31 Dec '25 31 Mar '26 30 Jun '26 30 Sep '26 # working capital debt is net of cash/cash equivalent balances Order Book Position (Standalone) The current order book for Pipes and Pellets is ~ US$ 1,135 Million & LOIs of ~USD$ 575 Million Iron & Steel Pipes For Q2 FY27, the Company reported order book of ~ $ 1,135 million for Iron & Steel Pipes and Pellets. Iron & Steel Pipes account for ~ $ 1,122 million and Pellets for ~ $ 13 million ~ $ 1,122 mn ❑ Highlights of order book for Iron & Steel Pipes: Order Book ➢ Order book is ~1.8 million MT. ~ $ 1,135 ➢ Export orders in term of volumes is ~0.74 million MT (~41% of total quantity of pipe order book). ➢ Export orders constitute ~28% of the total order book (in terms of value). mn Pellets ➢ Execution of export orders to the Middle East are on hold due to Middle East conflict. ➢ Execution of balance order book is projected to span the next 9–12 months. ~ $ 13 mn ➢ The above order book does not include the LOIs of USD 575 Million (~5 Lacs MT) including export business of ~USD 430 Million from other than MENA region. ➢ Apart from the above order book, UAE Entity has an order book of ~USD 195 million (~ 1,77,000 Pellets (~MT) Iron & Steel Pipe (~ MT) 19,64,000 3,25,000 19,25,000 19,00,000 2,90,000 1,81,000 17,80,000 17,26,000 90,000 60,000 Sep'25 Dec'25 Mar'26 Jun'26 Sep'26 Sep'25 Dec'25 Mar'26 Jun'26 Sep'26 *Including the export order of ~ 6,08,000 MT of pipe supply on job work basis Operational Highlights - Standalone Q2 FY27 Production Q2 FY27 Q1 FY27 Q2 FY26 6M FY 27 6M FY26 FY26 Iron & Steel Pipes* 3,30,000 3,71,000 2,93,000 7,01,000 6,81,000 14,91,000 Pellets 3,13,000 2,90,000 4,07,000 6,03,000 7,28,000 14,58,000 Sales Q2 FY27 Q1 FY27 Q4 FY26 6M FY 27 6M FY26 FY26 Iron & Steel Pipes* 3,70,000 3,62,000 2,93,000 7,32,000 6,19,000 13,76,000 Pellets 3,21,000 2,82,000 3,56,000 6,03,000 5,78,000 14,56,000 *Include Pig Iron and Job Work ❑Effective March 26, regional instability forced a halt on all exports to the MENA market, continuing through Q2 FY27 impacted the capacity utilization and revenue recognition. ❑The Indian water pipe business continued to face sustained headwinds in Q2 FY27 from persistent domestic oversupply and cash flow constraints arising from delays in JJM-related payments. ❑Capex investments are made to address operational bottlenecks to unlock gradual, long-term efficiency and productivity gains. Q2 FY27 Consolidated Results Highlights Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Particulars (Rs in Million) (Rs in Million) (Rs in Million) (Rs in Million) (Rs in Million) (Rs in Million) Unaudited Unaudited Unaudited Unaudited Unaudited Audited Total Income (#) 45,231 44,760 42,640 89,991 83,670 1,79,869 EBITDA 3,123 4,204 4,816 7,327 11,699 23,063 Financial Costs (#) 1,255 1,084 1,529 2,339 3,241 6,195 Depreciation 1,690 1,637 1,555 3,327 3,088 6,304 Profit before Tax (PBT) 178 1,483 1,732 1,661 5,370 10,564 Share of profit/(loss) of JVs (34) (54) 94 (88) 198 193 Profit before Tax (PBT) after Share of 144 1,429 1,826 1,573 5,568 10,757 profit/(loss) of JVs Provision for Tax* (209)* 521 440 312* 28 1,504 PAT 353 908 1,386 1,261 5,540 9,253 Note : (#) Total Income, Other Expenses and Finance Costs are net of the impact of foreign exchange fluctuations. The Company follows a policy and strategy of natural hedging of foreign exchange exposures. (*) Current tax expense for the quarter and half year ended September 30, 2026 is net of tax adjustments of ₹ 266.7 Million towards additional claims pertaining to earlier years adjudicated in favour of the Company by the Appellate Authority. Quarterly Financial Performance Trends – Consolidated (Rs. In Mio.) Revenue EBITDA* EBITDA Margin (%)** 49,630 12.7 11.3 10.8 46,569 9.4 44,760 45,231 42,640 6,322 4,816 5,042 4,204 3,123 30 Sep '25 31 Dec '25 31 Mar '26 30 Jun '26 30 Sep '26 30 Sep '25 31 Dec '25 31 Mar '26 30 Jun '26 30 Sep'26 * EBITDA: Earnings Before Interest, Tax, Depreciation & [Showing first 8,000 characters — download PDF for full document]