JSW Steel profit triples and beats estimates
JSW Steel reported Q2 FY27 net profit of ₹5,279 crore, up 225% year on year and above the ₹4,349 crore analyst estimate. Margin expansion, strong demand and approved Sambalpur expansion supported the positive earnings update.
pre-market2 sources ↓machine-written, see hownot a recommendation
- JSWSTEEL close
- ₹1,223
- On the day
- -1.48%
- Futures OI, long unwinding
- -0.1%
- Put-call ratio
- 0.63
- Max pain
- ₹1,220
JSW Steel reported consolidated net profit of ₹5,279 crore for Q2 FY27 on 23 Oct 2026, up 225% from ₹1,623 crore a year earlier. The result exceeded the ₹4,349 crore average estimate of 19 analysts polled by Bloomberg, according to Livemint. Revenue from operations rose 21% to ₹54,486 crore, while EBITDA increased 42% to ₹10,120 crore. Net profit ₹5,279 cr and the earnings beat put the steelmaker’s operating performance ahead of market expectations. 📈
The EBITDA margin expanded to 18.57% from 15.76% in Q2 FY26, an improvement of 281 basis points. Higher volumes supported earnings despite elevated coking coal prices and pressure on realisations. Management said industrial activity, exports and automotive demand remained strong despite global headwinds, while public and private investment continued to support the capital expenditure cycle. It also flagged elevated energy prices and inflationary pressures arising from an uneven monsoon. These factors keep input-cost control and domestic demand important for the Metals sector. 🏭
Key points:
• EBITDA margin 18.57% improved by 281 basis points year on year.
• The board approved capacity expansion at the Sambalpur unit and incorporation of a wholly owned subsidiary in the UAE; the available disclosures did not specify the planned capacity or investment value.
• OI Charts data for 21 Oct 2026, ahead of the results, showed the stock at ₹1,223, down 1.48% on the day, with volume of 1,251,287. It had gained 3.9% over five sessions but remained down 3.6% over 20 sessions, within a 52-week range of ₹1,073 to ₹1,351.
• Futures open interest stood at 44,046,450 shares, down 0.1% and classified as long unwinding. The futures premium was negative at 0.20%, while the put-call ratio was 0.63.
For the 27 Oct 2026 expiry, OI Charts data placed max pain at ₹1,220. The largest call open interest was at ₹1,260 and the largest put open interest at ₹1,180, creating the key near-term levels as the market assesses the earnings beat. The next important disclosure is the Sambalpur project’s capacity and investment details, alongside the company’s commentary on energy costs, realisations and demand. ⚙️
Source: news.google.com and Livemint, 23 Oct 2026; OI Charts data.
Not investment advice. For informational purposes only.