Jindal Saw posted  dull set of numbers for Q3FY16. On a 40% (YoY) drop in net sales at Rs.1055 crore, the company ended the quarter with a 37% drop in net profit at Rs.39 crore. Raw material costs dropped 41% and this helped shore up the EBITDA a bit though it was a degrowth – down 14% at Rs.235 crore. Margins on the other hand were the only thing which showed an improvement – up from 15.39% to 22.28%.

The company had an exceptional expense of Rs. 15 crores on account of dilution in value of investments made in overseas subsidiaries. Interest outgo stands at Rs.84 crore, up 20%. Debt currently stands at Rs.4807 crore, of which working capital loans is to the tune of Rs.2434 crore.  Its order book is currently at $900 million, with 35% comprising of exports – mainly to Middle East, Gulf region, South East Asia and Far East.