JSW Steel Q2 results: net profit rises 225% as shares fall around 3%

JSW Steel reported a 225% year-on-year increase in consolidated net profit to ₹5,279 crore for Q2 FY27 on Friday, while its shares fell around 3% after the results. Revenue from operations rose nearly 21% year on year to ₹54,486 crore. The company also reported record crude steel production and saleable steel sales during the quarter.

EBITDA reaches ₹9,941 crore as steel sales hit 7.46 million tonnes

JSW Steel said consolidated net profit increased from ₹1,623 crore in the corresponding quarter of the previous financial year to ₹5,279 crore in Q2 FY27. Revenue from operations rose from ₹45,152 crore in the year-ago quarter to ₹54,486 crore during the period.

The company’s EBITDA for the quarter under review was at Rs. 9,941 crore (+39% y-o-y). EBITDA for JSW Steel's purposes excludes foreign exchange gains and losses on long-term borrowings net of inter-company receivables.

Crude steel production in Q2 FY27 was 7.27 million tonnes, which JSW Steel described as its highest-ever level. Saleable steel sales reached 7.46 million tonnes, increasing 13% year on year and 19% quarter on quarter, according to the company.

Shares trade at ₹1,182 after the results

NSE data showed that JSW Steel shares fell around 3% and traded at ₹1,182 apiece after the results were released.

Adjusted EBITDA margin stands at 18.3% as coal costs rise
JSW Steel’s adjusted EBITDA margin for Q2 FY27 was 18.3%. Higher volumes had supported the margin but the adverse impact of higher coking coal prices and lower realisation partially mitigated the benefit.

Total expenses rose from ₹43,004 crore in the year-ago quarter to ₹48,168 crore in Q2 FY27, the company said.

Domestic sales reach 6.29 million tonnes; exports account for 13%

JSW Steel said that its domestic sales had increased by 12% year on year and 18% quarter on quarter to a record 6.29 million tonnes.

Exports totalled 9.8 lakh tonnes and contributed 13% of sales from India operations in Q2 FY27. Institutional sales volumes rose 15% year on year to 4.15 million tonnes.

Sales of flats increased 16% year on year, while value-added special products sales rose 11%, according to the company. Sales to the auto sector rose 36% year on year and were at their highest level.