JSW Steel Limited reported consolidated net profit of Rs 5,359 crore for the quarter ended 30 September 2026 (Q2 FY27), against Rs 1,646 crore as reported in Q2 FY26 and Rs 4,696 crore in Q1 FY27. For the half year to 30 September 2026 (H1 FY27), consolidated net profit was Rs 10,055 crore, against Rs 3,855 crore as reported in H1 FY26. The board approved the standalone and consolidated results on 23 October 2026. Both are unaudited: statutory auditor S R B C & CO LLP carried out a limited review, which its review reports describe as "substantially less in scope than an audit", and it does not express an audit opinion.
- Net profit, consolidated · Q2 FY27 (July to September 2026)5,359 Rs crore Rs 1,646 crore in Q2 FY26 (reported)
- Revenue from operations, consolidated · Q2 FY2754,486 Rs crore Rs 45,152 crore in Q2 FY26 (reported)
- Net profit, consolidated, first half · H1 FY27 (April to September 2026)10,055 Rs crore Rs 3,855 crore in H1 FY26 (reported)
- Net profit, standalone · Q2 FY273,396 Rs crore Rs 2,417 crore in Q2 FY26 (restated)
- Net debt, as stated by the company · 30 September 202644,482 Rs crore Rs 1,675 crore below 30 June 2026
| Measure | Q2 FY27 | Q1 FY27 | Q2 FY26 | H1 FY27 | H1 FY26 |
|---|---|---|---|---|---|
| Consolidated revenue from operations | 54,486 | 47,364 | 45,152 | 1,01,850 | 88,299 |
| Consolidated net profit | 5,359 | 4,696 | 1,646 | 10,055 | 3,855 |
| Standalone net profit | 3,396 | 5,750 | 2,417 | 9,146 | 4,682 |
Source: JSW Steel Limited, unaudited standalone and consolidated results and press release for the quarter and half year ended 30 September 2026 (NSE filing), Quarter and half year ended 30 September 2026. Standalone Q1 FY27, Q2 FY26 and H1 FY26 figures are restated for amalgamations; consolidated Q2 FY26 and H1 FY26 are as reported and include BPSL. Indian digit grouping: 1,01,850 crore = 101,850 crore.
In the press release, JSW Steel said adjusted EBITDA rose 6% from Q1 FY27 on higher volumes, partly offset by higher coking coal prices and lower realisations.
In the consolidated statement, revenue from operations was Rs 54,486 crore, the share of profit of joint ventures and associates was Rs 292 crore, against losses of Rs 98 crore in Q1 FY27 and Rs 88 crore as reported in Q2 FY26, and finance costs were Rs 1,602 crore, against Rs 2,413 crore as reported in Q2 FY26, which included BPSL.
On a standalone basis, net profit was Rs 3,396 crore in Q2 FY27, against restated figures of Rs 5,750 crore in Q1 FY27 and Rs 2,417 crore in Q2 FY26. Standalone other income was Rs 413 crore, against a restated Rs 3,358 crore in Q1 FY27.
The company put net debt at Rs 44,482 crore on 30 September 2026, Rs 1,675 crore lower than on 30 June 2026. It gave net debt to equity of 0.39x, against 0.42x at the end of Q1 FY27, and net debt to EBITDA of 1.28x, against 1.46x. Consolidated capex was Rs 6,266 crore in Q2 FY27, which it called its highest ever for a quarter, and Rs 11,136 crore in H1 FY27; it expects FY27 capex of Rs 22,000-24,000 crore. On 23 October 2026 the board approved new steelmaking, downstream and mining projects, including a 5 MTPA Phase-II at JSW Utkal in Odisha with a capital outlay of Rs 16,150 crore, targeted for Q1 FY31.
- JSW Steel Limited, unaudited standalone and consolidated results and press release for the quarter and half year ended 30 September 2026 (NSE filing), 23 Oct 2026, 11:23 CEST