Jindal Steel commissions 5 MTPA blast furnace at Angul plant; shares slip 2%

Following the development, shares of Jindal Steel settled 1.97% lower at ₹1,030.95 apiece on the National Stock Exchange (NSE).

The blast furnace with 5,499 m2 (cubic meters) of inner volume is one of the largest in India, Jindal Steel said in a statement.

The commissioning will help the company double its steel production at the Angul plant to 12 MTPA from the current 6 MTPA at an estimated investment of over ₹20,000 crore.

Commenting on the development, Naveen Jindal, Chairman, Jindal Steel said, "Commissioning the Bhagavati Subhadrika Blast Furnace at Angul is a proud moment for Jindal Steel and for India. By doubling Angul's capacity to 12 MTPA, we are strengthening our global competitiveness and reaffirming our commitment to Atmanirbhar Bharat. Rooted in Odisha’s culture and powered by cutting-edge technology, this furnace represents our vision to unite tradition with innovation."

Over the last five trading sessions, Jindal Steel shares declined 1.44%. On the other hand, shares advanced 5.51% over the past month. Similarly, the scrip gained 14.57% over the past six months, while it further zoomed 9.90% on a year-to-date basis.

The stock touched its 52-week high of ₹1,069.70 on September 23, 2025 and its 52-week low of ₹723.35 on January 31, 2025. The company’s market capitalisation stands at ₹1,05,165.98 crore as recorded on September 26.

Jindal Steel Q1 results

Jindal Steel reported an 11.49% year-on-year (YoY) surge in its consolidated net profit to ₹1,494 crore in the first quarter of the 2025-26 financial year (Q1FY26), compared to a profit of ₹1,340 crore in the corresponding quarter last year.

Its revenue from operations stood at ₹12,294 crore during the quarter under review, marking a 92.79% YoY increase from ₹6,377 crore in the first quarter of FY25.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation) rose 5.4% YoY to ₹2,984 crore during the June quarter of FY26, as against ₹2,831 crore in the year-ago period. Its crude steel production rose 2% YoY to 2.09 million tonnes (MT) during the reporting quarter, in contrast to 2.05 MT it produced in Q4FY25.