Vedanta Iron And Steel Q2 FY27 Results: Loss Narrows As EBITDA Rises 56% And Steel Operations Improve

Vedanta Iron and Steel Limited (VISL) reported revenue of ₹2,788 crore in Q2 FY27, down around 2.4% from ₹2,858 crore a year earlier. The consolidated loss after tax narrowed to ₹324 crore from ₹477 crore in Q2 FY26.

The Vedanta Iron and Steel Q2 results showed better operating earnings, but quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) were lower than expectations. EBITDA stood at ₹83 crore with a margin of just 3%.

The Vedanta Iron and Steel share price closed at ₹27.95 on 27 October 2026, a jump of 5% on the National Stock Exchange (NSE).

What Do The Half-Year Numbers Show?

For H1 FY27, revenue increased 8% to ₹6,450 crore, and EBITDA rose 54% to ₹598 crore. The EBITDA margin expanded by 275 basis points to 9%. The half-year loss narrowed to ₹203 crore from ₹622 crore a year earlier.

The improvement reflects better realisations and efficiency measures, although higher coking coal costs continued to affect profitability.

VISL Q2 Results: Steel And Iron Ore Operations

Steel production increased 4% YoY to 532,000 tonnes in Q2, while steel sales stood at 532,000 tonnes. Iron ore production fell to 1.5 million dry metric tonnes, from 1.8 million tonnes a year earlier. Iron ore sales declined to 0.8 million tonnes from 1.3 million tonnes.

The company attributed pressure on quarterly earnings to higher freight, coking coal and fuel costs, partly offset by stronger steel realisations and operational efficiencies.

In H1, the company recorded its highest ever pig iron production of 568 kilo tonnes and iron ore production of 4.2 million tonnes.

What Did Management Say?

Chief Executive Officer Pankaj Sharma highlighted improved steel realisations, production volumes and efficiency initiatives. Chief Financial Officer Navin Jaju said H1 profitability improved, with a focus on capital allocation, working capital and cash generation.

Net debt stood at ₹2,763 crore, with net debt-to-EBITDA at 1.3 times, excluding inter-company loans from the ratio. Capital expenditure on the Goa ductile iron pipe project and ESL Phase 1A totalled ₹2,796 crore cumulatively by September-end, against ₹3,697 crore approved.

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