Mumbai, April 27 (IANS) Jindal Saw Limited on Monday reported a sharp 52 per cent year-on-year decline in its financial performance for the fourth quarter (Q4) of FY26, with net profit falling to Rs 139.4 crore, compared to Rs 291 crore in the same period previous financial year (Q4 FY25).

According to an exchange filing, the company’s revenue from operations also slipped 8 per cent to Rs 4,633.5 crore from Rs 5,046.6 crore a year ago, according to its stock exchange filing.

Earnings before interest, tax, depreciation and amortisation (EBITDA) saw a steeper drop of 34.7 per cent to Rs 480.9 crore, down from Rs 736.1 crore in the corresponding quarter of the previous fiscal.

Profitability margins came under pressure during the quarter, with EBITDA margin contracting to 10.4 per cent from 14.6 per cent a year earlier.

Despite the subdued earnings, the company’s board has recommended a dividend of Rs 2 per equity share of face value Rs 1 for FY26.

The proposed payout, subject to shareholder approval, is estimated at around Rs 127.9 crore.

In a separate regulatory filing, Jindal Saw announced key board-level and audit-related appointments.

The company has named Ashutosh Karnatak as an additional independent director with effect from April 27, 2026.

It has also appointed RJ Goel & Co as cost auditors and Deloitte Haskins and Sells LLP as internal auditors for the financial year FY27.

The board has further approved an in-principle decision to divest its wholly-owned subsidiary, Raleal Holdings Limited, Cyprus.

The divestment may take place either through a sale or liquidation, although the company clarified that the timeline and agreement for the transaction are yet to be finalised.

Ahead of the earnings announcement, shares of Jindal Saw settled at Rs 245.50 on the National Stock Exchange on Monday, registering a gain of 2.41 per cent during the day.

–IANS

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