JSW Steel Q2 FY26 Net Profit Surges 270% to ₹1,623 Crore on Record Production and Strong Exports

JSW Steel reported a robust performance in Q2 FY26, posting a consolidated net profit of ₹1,623 crore, marking a remarkable 270% year-on-year increase. The surge reflects strong operational efficiency, higher production volumes, and healthy demand both domestically and internationally. Sequentially, net profit moderated 25% from ₹2,184 crore in Q1 FY26.

Consolidated revenue rose 13.8% year-on-year to ₹45,152 crore, up from ₹39,684 crore in the same quarter last year. On a quarter-on-quarter basis, revenue grew 4.6% from ₹43,147 crore. The company’s Adjusted EBITDA climbed 39% YoY, aided by lower input costs for iron ore, coking coal, and power, despite some moderation in realizations. Reported EBITDA for the quarter stood at ₹7,115 crore.

Steel production reached an all-time high of 7.90 million tonnes, driven by full-capacity operations at the Dolvi plant after Q1 maintenance and expansion ramp-ups at JVML and BPSL. Consolidated sales totaled 7.34 million tonnes, with domestic sales at 6.33 million tonnes, reflecting 14% YoY growth, while exports soared 89% YoY, accounting for 10% of Indian operations’ sales. Retail volumes grew 26% YoY.

JSW Steel also highlighted sustainability initiatives, including the launch of India’s first 25 MW Green Hydrogen Electrolyser at Vijayanagar DRI, producing 3,800 tonnes of green hydrogen annually. The company has board approval to develop 2.5 GW of renewable energy and 320 MWh battery storage, with 885 MW already operational.

Looking ahead, JSW Steel noted global economic resilience in 2025 but flagged cautious expectations for 2026 due to geopolitical uncertainties and elevated tariffs. In India, improved rural demand, strong infrastructure activity, and new residential launches are expected to support growth.

JSW Steel’s Q2 results underscore its operational strength, market adaptability, and commitment to sustainability, positioning the company for continued growth in the domestic and global steel sectors.