Jindal Stainless has completed the sale of its entire 26% stake in Jindal Coke Limited (JCL).
The company had already started the process last year when it sold a small portion (4.87%) of its stake to JSL Overseas Limited. Later, JCL offered to buy back its shares, allowing Jindal Stainless to sell the remaining 21.13% through this buyback offer. On March 6, 2025, Jindal Stainless confirmed that all its tendered shares had been accepted, completing the full divestment. As a result, JCL is no longer associated with Jindal Stainless.
Investors reacted positively to this development, pushing Jindal Stainless’ stock price up by 5.87% to ₹649.45 per share on the National Stock Exchange. The company’s total market value now stands at ₹53,499.72 crore.
Despite this positive market response, Jindal Stainless faced some challenges in its latest financial results. For the third quarter of the 2024-25 fiscal year, the company reported a decline of 5.35% in net profit, which fell to ₹654.27 crore from ₹691.22 crore in the same period last year.
This drop in profit was mainly due to rising costs and an increase in the dumping of low-quality steel from countries with excess production capacity. However, there were some bright spots in the company’s performance. Its total income for the quarter increased by 9.16% to ₹10,006.41 crore, up from ₹9,166.42 crore a year ago. Revenue also grew by 8.5% to ₹9,907 crore.
At the same time, expenses rose sharply, increasing by 10.16% to ₹9,101.90 crore, compared to ₹8,262.66 crore in the same quarter last year. This impacted its EBITDA, which dropped by 3.1% to ₹1,208 crore from ₹1,246 crore.
While Jindal Stainless has successfully exited its investment in JCL, its financial performance reflects the challenges faced by the steel industry. Rising costs and external competition remain concerns, but the company continues to expand its revenue base, signaling steady growth despite market pressures.