Jayaswal Neco Industries (522285) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 revenue from operations rose 44.8% YoY to ₹178,100 lakh; net profit was ₹10,513 lakh versus a ₹3,421 lakh loss in Q2 FY25. H1 net profit was ₹19,815 lakh versus a ₹6,589 lakh loss.

• Q2 EBITDA rose 92.7% YoY to Rs 331 crore; H1 EBITDA reached Rs 650 crore, up 90.6%. Steel dispatch and several production units set quarterly records.

• Steel was the largest segment by revenue and segment result; NCD refinancing and ongoing ED-related proceedings remained key developments.

Financial highlights

• Q2 revenue from operations was ₹178,100 lakh versus ₹123,006 lakh YoY; H1 revenue was ₹343,035 lakh versus ₹266,762 lakh.

• Q2 profit before tax was ₹14,271 lakh versus a ₹4,510 lakh loss; H1 PBT was ₹26,810 lakh versus an ₹8,601 lakh loss.

• Q2 net profit was ₹10,513 lakh versus a ₹3,421 lakh loss; H1 net profit was ₹19,815 lakh versus a ₹6,589 lakh loss.

• Q2 revenue rose 7.9% QoQ to Rs 1,781 crore, EBITDA increased 3.5% to Rs 331 crore and PAT rose 13.0% to Rs 105 crore.

• H1 FY26 net sales were Rs 3,430 crore, up 28.6% YoY; cash profit was Rs 418 crore versus Rs 50 crore.

Outlook and guidance

• Mid-term priorities include a 1.5 MnTPA pellet project at Raipur, raising iron ore mining capacity to 7 MnTPA, facility debottlenecking and developing higher-value steel grades.

• Strategic goals include lowest-cost steel production, improved external credit ratings, lower-cost capital and expanded IT, safety, quality and ESG initiatives.