Jindal Saw's Q1 FY27 saw consolidated PAT drop 78% to INR91 Cr, with EBITDA down 39%, despite revenue growth.

Performance was impacted by MENA geopolitical issues, domestic water project delays, and a temporary API license suspension (now reinstated). Management expects H1 FY27 to remain soft but anticipates H2 improvements, aiming for FY26-level volumes.

Strategic multi-crore MENA projects (Abu Dhabi seamless, Saudi SAW pipe JV) are on track for FY29 commissioning.

The company is actively diversifying its order book beyond MENA.

This quarter highlights short-term headwinds but underscores long-term strategic growth initiatives.