Indian company Jindal SAW Limited expects consolidated net profit to fall by 75 percent in the first quarter of fiscal year 2026-2027

According to the company's statement released on Wednesday, July 15, the Indian company Jindal SAW Limited achieved a consolidated net profit of 1.04 billion Indian rupees (10.81 million US dollars) in the first quarter (April-June) of the 2026-27 fiscal year, which is 75.47 percent less than in the corresponding quarter of the previous year.

The company's total operating income amounted to INR. 44.52 billion (462.91 million US dollars), an increase of 9 percent

. The Abu Dhabi division's operations were also impacted by the closure of key shipping routes in the MENA region, resulting in supply chain disruptions and operational restrictions, which impacted the division's financial performance, the statement said.

The company said it has established a joint venture with Buhur Investment Company in Saudi Arabia to establish production lines for the production of pipes welded by spiral submerged arc welding (HSAW) and longitudinal submerged arc welding (LSAW).

The installed capacity will be 3,000,000 tons per year for HSAW and LSAW pipes, the report says.

The company also announced that a joint venture agreement has been signed for its high-strength cast iron pipe manufacturing plant in Saudi Arabia, and other corporate actions are in progress.

Jindal SAW Limited is a leading manufacturer of LSAW and HSAW pipes, DI pipes, seamless pipes and iron ore pellets.