Bajaj Steel Industries (BAJAJST) Q2 26/27 earnings summary

Executive summary

• Q2FY27 consolidated revenue was ₹15,521.09 lakh, down 11% YoY; net profit was ₹769.96 lakh versus ₹2,127.53 lakh in Q2FY26.

• Q2FY27 EBITDA margin improved 313 bps QoQ to 8.0%, while EBITDA fell 61% YoY to ₹12.4 Cr.

• The order book was ₹560 Cr as of Nov. 6, 2026, including ₹350 Cr in Cotton Ginning Machinery and ₹210 Cr across Other Businesses.

Financial highlights

• Consolidated Q2FY27 total income was ₹15,817.01 lakh and profit before tax was ₹887.86 lakh, versus ₹2,827.59 lakh PBT in Q2FY26.

• H1FY27 consolidated revenue was ₹27,556.37 lakh and net profit was ₹743.10 lakh; standalone revenue was ₹25,365.74 lakh and net profit was ₹109.62 lakh.

• Q2FY27 standalone total income was ₹14,753.88 lakh and PBT was ₹518.31 lakh, versus ₹1,982.26 lakh PBT in Q2FY26.

• H1FY27 consolidated PBT was ₹975.47 lakh versus ₹3,820.42 lakh; standalone PBT was ₹146.48 lakh versus ₹2,647.71 lakh.

• H1FY27 consolidated revenue declined 2.3% YoY to ₹275.6 Cr; EBITDA was ₹18.3 Cr, down 59.6% YoY, and PAT was ₹7.4 Cr versus ₹28.7 Cr.

Segment performance

• Other Businesses generated ₹64.7 Cr in Q2FY27, up 19% YoY and contributing 42% of revenue, partly offsetting weaker Cotton Ginning Machinery performance.

• H1FY27 Infrastructure revenue grew ~30% YoY, while Heavy Engineering revenue declined 44% YoY.

• Multiple Engineering Products was the only reportable segment.