Jayaswal Neco Industries (522285) Q2 26/27 earnings summary

Executive summary

• Q2FY27 set quarterly records with net sales of ₹2,194.46 crore and EBITDA of ₹446.59 crore; H1FY27 net sales were ₹4,301.02 crore and EBITDA ₹854 crore.

• H1FY27 net profit rose to ₹42,373 lakh from ₹19,815 lakh YoY; secured debt outstanding was ₹1,517.51 crore at 30 Sep and ₹1,419.35 crore on 16 Oct 2026.

Financial highlights

• Q2FY27 revenue from operations rose to ₹219,446 lakh from ₹178,100 lakh YoY; EBITDA increased 35.0% to ₹447 crore, with a 20% margin versus 19%.

• Q2FY27 PBT was ₹30,745 lakh versus ₹14,271 lakh, net profit ₹22,981 lakh versus ₹10,513 lakh, and cash profit rose 76.6% to ₹386 crore.

• H1FY27 revenue from operations was ₹430,102 lakh; EBITDA rose 31.3% to ₹854 crore, with a 20% margin versus 19%.

• H1FY27 PBT was ₹57,242 lakh versus ₹26,810 lakh, net profit ₹42,373 lakh versus ₹19,815 lakh, and cash profit ₹727 crore versus ₹418 crore; finance costs fell to ₹12,710 lakh from ₹23,170 lakh.

• H1FY27 operating cash flow increased to ₹968 crore from ₹670 crore; investing and financing cash outflows were ₹200 crore and ₹652 crore, respectively.

Outlook and guidance

• A 1.50 MnTPA straight-grate pellet plant, 2.0 MnTPA wet grinding system and related facilities are planned at Siltara; budgeted cost is ₹720 crore, financial closure is achieved and construction has commenced.

• Procurement of 104 MWAC renewable power under a group-captive model is planned; definitive documentation for 50 MWAC is in process to support power-cost savings and reduce grid-tariff exposure.

• Mid-term priorities include another 1.5 MnTPA pellet project, steelmaking enhancements, debottlenecking, value-added steel grades, lower-cost capital and improved external credit ratings.