JSW Steel’s net profit leapt 225.5% year‑on‑year to ₹5,359 crore, eclipsing the CNBC‑TV18 poll estimate of ₹4,752 crore and tripling the ₹1,646 crore of the same quarter last year.
Revenue rose 20.7% YoY to ₹54,486 crore, surpassing the ₹54,110 crore estimate, and EBITDA surged 42.2% to ₹10,120 crore, outpacing the ₹9,845 crore forecast. The EBITDA margin expanded to 18.6% from 15.8% a year ago, a 280‑basis‑point lift that also beat the 18.2% consensus.
The company’s record‐breaking production of 7.27 million tonnes of crude steel and 7.46 million tonnes of sales, up 5% and 13% YoY respectively, underscore the robust demand. Domestic sales hit 6.29 million tonnes, a 12% rise, while institutional volumes climbed 15% to 4.15 million tonnes.
On the balance sheet, net gearing fell to 0.39 from 0.42, and net debt to EBITDA dropped to 1.28 from 1.46. Net debt stood at ₹44,482 crore, a reduction of ₹1,675 crore from the June‑30 figure.
The board’s green light for a 5 million‑tonne expansion at JJSL, a 50:50 JV with JFE Steel, and a ₹7,500‑crore equity injection signal confidence in the medium‑term outlook. Implementation is slated to begin in April 2027, pending approvals.
Looking ahead, JSW Steel will release Q3 FY27 figures on 30 November. Analysts anticipate a 10‑12% revenue uptick, tempered by higher coking‑coal costs, but the firm’s strengthened margins and expanded capacity should sustain investor enthusiasm.