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JSW Steel Limited Q2 FY26 results deck summary

NSE: JSWSTEEL · BSE: 500228

Results deck of 17 Oct 2025, summarised by AI from the filing.

JSW Steel Q2 FY26 revenue ₹45,152 cr, net profit ₹1,646 cr; guides FY26 volumes at 30.5mt production and 29.2mt sales.

Key takeaways

  1. Revenue Revenue from operations ₹45,152 cr in Q2 FY26, up 14% YoY and 5% QoQ.
  2. Guidance Management guides total consolidated volumes for FY26: production 30.5mt and sales 29.2mt.
  3. Volume growth Consolidated crude steel production 7.90mt, up 17% YoY, driven by ramp-up at BPSL and JVML-Vijayanagar.
  4. FX impact Adverse unrealised FX impact of ₹734cr on foreign currency loans due to sharp INR depreciation against USD.

Original filing on BSE

JSW Steel Limited Q1 FY27 results

As filed: Revenue ₹47,364 cr (+10% year on year), EBITDA ₹9,383 cr (+24% year on year), PAT ₹4,696 cr (+113% year on year), EBITDA margin 19.8% (+225 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹51,180 cr (+14% year on year), EBITDA ₹8,634 cr (+35% year on year), PAT ₹19,243 cr (+131% year on year), EBITDA margin 16.9% (+264 bps). Score 77 of 100, Above trend. Revenue, EBITDA and profit before exceptional items growth were well above the company's own trend. EBITDA margin rose 264 bps year on year. Tax rate 14%. Share price after the results: +1.8% in 29 days (Nifty 500: +1.0%).
  • Q3 FY26: Revenue ₹45,991 cr (+11% year on year), EBITDA ₹6,496 cr (+16% year on year), PAT ₹2,410 cr (+65% year on year), EBITDA margin 14.1% (+64 bps). Score 57 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA and profit before exceptional items growth were above it. EBITDA margin rose 64 bps year on year. Tax rate -61%. Consolidated profit +235% but standalone -41%. Profit fell 14% from last quarter. Share price after the results: +6.3% in 28 days (Nifty 500: +1.7%).
  • Q2 FY26: Revenue ₹45,152 cr (+14% year on year), EBITDA ₹7,115 cr (+31% year on year), PAT ₹1,646 cr (+300% year on year), EBITDA margin 15.8% (+206 bps). Score 81 of 100, Above trend. Revenue and profit growth were well above the company's own trend; EBITDA growth was above it. EBITDA margin rose 206 bps year on year. Profit fell 25% from last quarter. Share price after the results: −0.4% in 28 days (Nifty 500: +1.2%).
  • Q1 FY26: Revenue ₹43,147 cr (0% year on year), EBITDA ₹7,576 cr (+38% year on year), PAT ₹2,209 cr (+155% year on year), EBITDA margin 17.6% (+473 bps). Score 68 of 100, Above trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 473 bps year on year. Revenue fell 4% from last quarter. Share price after the results: +1.1% in 27 days (Nifty 500: −3.2%).
  • Q4 FY25: Revenue ₹44,819 cr (−3% year on year), EBITDA ₹6,378 cr (+4% year on year), PAT ₹1,501 cr (+14% year on year), EBITDA margin 14.2% (+99 bps). Score 46 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA and profit growth were in line with it. EBITDA margin rose 99 bps year on year. Tax rate 12%. Share price after the results: −0.3% in 28 days (Nifty 500: +1.1%).
  • Q3 FY25: Revenue ₹41,378 cr (−1% year on year), EBITDA ₹5,579 cr (−22% year on year), PAT ₹719 cr (−71% year on year), EBITDA margin 13.5% (−364 bps). Score 37 of 100, Below trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were below it. EBITDA margin fell 364 bps year on year. Tax rate 39%.
  • Q2 FY25: Revenue ₹39,684 cr (−11% year on year), EBITDA ₹5,437 cr (−31% year on year), PAT ₹404 cr (−70% year on year), EBITDA margin 13.7% (−399 bps). Score 3 of 100, Below trend. EBITDA margin fell 399 bps year on year. Tax rate 45%. Not enough history for a trend yet: scored on growth alone. Revenue fell 8% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

JSW Steel Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.