Jindal Saw

Jindal Saw's Q4 FY26 consolidated results missed expectations, with revenue of ₹4,657 croreCurrent reported value: ₹4,657 crore. No comparable prior figure is available in the source record. (down 6% YoY) and PAT of ₹124 croreCurrent reported value: ₹124 crore. No comparable prior figure is available in the source record. (down 50% YoY). The miss was driven by a sharp decline in the ductile iron pipe segment due to sluggish Jal Jeevan Mission execution, suspension of all export shipments to the Mina region from March 2026 following the military conflict, and a ₹48 croreCurrent reported value: ₹48 crore. No comparable prior figure is available in the source record. forex loss from rupee depreciation. EBITDA margin contracted ~190bps YoY to ~10.8Current 10.8 crore vs previous available quarter 12.7 crore.%. Management noted that the Mina conflict has also disrupted Abu Dhabi operations, with sales restricted to trucking range. The order book remains healthy at ~$180 millionCurrent $180 million. Reported change: ~9 months visibility. for the subsidiary, but near-term visibility is poor. Guidance is absent; management explicitly called the environment 'unprecedented' and unpredictable. Key risk: prolonged Mina disruption could further defer high-margin export revenues and strain working capital.