New Delhi: JSW Steel on Friday posted fourfold jump in consolidated net profit to Rs 1,646 crore for Q2 FY26, as improved sales led to rise in revenues. It had clocked a net profit of Rs 404 crore in Q2 FY25, the JSW Group entity said in an exchange filing.
The consolidated capex spend during Q2 FY26 was Rs 3,135 crore, and Rs 6,535 crore during H1 FY26. JSW Steel said it expects to spend Rs 20,000 crore during FY26.
InQ2 FY26, the company registered a 14 per cent y-o-y rise in revenues from operations to Rs 45,152 crore from Rs 39,684 crore in Q2 FY25. JSW Steel posted sales of 7.34 million tonne (MT), up 20 per cent from 6.13 MT in the Q2 FY25.
Production of crude steel was at 7.90 MT, higher 17 per cent over 6.77 MT in Q2 FY25, driven by the Dolvi plant operating at optimum capacity post planned maintenance shutdown in Q1 FY26 and ramp up of JVML (JSW Vijayanagar Metallics Ltd) and BPSL (Bhushan Power & Steel Ltd) expansions.
The adjusted EBITDA increased by 39 per cent YoY, driven primarily by higher volumes and lower iron ore, coking coal and power costs, partly offset by a decrease in realisations. Reported EBITDA was Rs 7,115 crore during the quarter.
On BPSL acquisition, JSW Steel said the Supreme Court, in its judgement dated September 26, 2025, dismissed the appeals filed by the erstwhile promoters and certain operational creditors, and upheld the National Company Law Appellate Tribunal order of 2020 approving its resolution plan for the asset. The Supreme Court also noted the substantial efforts of JSW Steel in resolving and turning around BPSL as a profit-making company.
During the quarter, BPSL registered a crude steel production of 0.96 million tonne and sales volume of 0.83 million tonne. Revenue from Operations and adjusted EBITDA for Q2 FY26 stood at Rs 5,162 crore and Rs 724 crore, respectively. BPSL reported a PAT of Rs 166 crore for the quarter. In the US, The EAF-based steel manufacturing facility in Ohio, USA, produced 266,519 net tonne of slabs during the quarter. Capacity utilization was 74 per cent. The Plate & Pipe Mill based in Texas, USA produced 142,767 net tonne of plates and 18,851 net tonne of pipes, reporting a capacity utilization of 55 per cent and 14 per cent, respectively, during the quarter.
Italy-based long products manufacturing facility produced 72,082 tonne and sold 79,214 tonne of rolled products and grinding balls during the quarter. It reported an EBITDA of 5.61 million euros for the quarter, higher QoQ mainly due to higher sales volume of rail products.