JSW Steel Q2 Results: Profit Surges 223%, Revenue Reaches ₹54,486 Crore As Steel Sales Hit Record High; Shares Fall 2.83%
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JSW Steel reported a sharp rise in consolidated profit for the September quarter, supported by stronger steel realisations and higher sales volumes. Record production, lower debt and fresh expansion projects also featured in its second-quarter performance. Rising coking coal and input costs remained a challenge.
JSW Steel’s Q2 FY27 results, for the quarter ended 30 September 2026, reflected stronger operations and improved consolidated earnings. Higher realisations, increased sales volumes and lower borrowing costs supported the performance.
Revenue from operations grew 31% year-on-year (YoY), while profit after tax rose sharply against the year-earlier period. Crude steel production and consolidated steel sales reached record quarterly highs, signalling stronger output and market demand.
Higher coking coal and other input costs, however, continued to put pressure on operating expenses at its Indian operations.
JSW Steel Q2 FY27 Results: Key Financial Highlights
Particulars | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
Revenue from operations | ₹54,486 crore | ₹41,469 crore | +31% |
Reported EBITDA | ₹10,120 crore | ₹6,395 crore | +58% |
Adjusted EBITDA | ₹9,941 crore | ₹7,129 crore | +39% |
Net profit | ₹5,359 crore | ₹1,662 crore | +223% |
Crude steel production | 7.27 million tonnes | 6.95 million tonnes | +5% |
Steel sales | 7.46 million tonnes | 6.62 million tonnes | +13% |
Q2 FY26 figures are on a pro forma basis, excluding Bhushan Power and Steel Limited (BPSL), for comparability. EBITDA stands for earnings before interest, tax, depreciation and amortisation.
JSW Steel Share Price Falls 2.83% To ₹1,185.50
JSW Steel Limited shares closed at ₹1,185.50 on 23 October 2026, down ₹34.50, or 2.83%, from the previous close of ₹1,220. The stock opened at ₹1,220 and traded between ₹1,181.90 and ₹1,223.70 during the session. The volume-weighted average price (VWAP) stood at ₹1,196.95. The decline came as the company reported its second-quarter financial results.
Record Sales And Expansion Drive Operations
Domestic demand remained a key contributor to the quarter’s performance. Sales to the automotive sector increased, while appliances and renewable energy applications also recorded growth. Value-added and special product sales reached a quarterly high, although their share of total sales declined compared with the year-earlier period.
JSW Steel’s blast furnace upgrade at Vijayanagar reached around 90% utilisation during the quarter. The company is also progressing with expansion projects at Dolvi and Utkal, alongside additional downstream manufacturing facilities.
Debt Reduction And Costs Remain In Focus
Net debt contracted to ₹44,482 crore at September-end, lending greater resilience to JSW Steel’s financial position. Interest costs followed suit, declining year-on-year amid lower debt and borrowing rates.
But the pressure points remain. Raw material costs are elevated, and global energy-price movements remain difficult to predict. JSW Steel plans to continue expanding capacity, backed by a FY27 capital expenditure outlay of ₹22,000 crore to ₹24,000 crore.
Also Read - Adani Power Q2 FY27 Results: Profit Rises 142% To ₹7,019 Crore, But Shares Slip 1.6% On Results Day
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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