JSW Steel raises Q2 output 5 percent: JSW Steel stock sits 13.74 percent below its yearly high

Published on 10/09/2026 at 12:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half output reached 13.86 million tonnes, up 4 percent year on year. The October 23 results will test JSW Steel stock after 88 percent utilization.

Key points in brief

JSW Steel reported Q2 FY27 crude steel output of 7.27 million tonnes, up 5 percent year on year.
First-half output reached 13.86 million tonnes, up 4 percent year on year.
JSW Steel stock was last at INR 1,165.50 on NSE on October 9, 2026, 13.74 percent below its 52-week high.
The company is scheduled to review Q2 financial results on October 23, 2026.

JSW Steel, INE019A01038, Illustration mit AI erstellt.

JSW Steel (INE019A01038) raised consolidated crude steel production by 5 percent year on year to 7.27 million tonnes in the second quarter of fiscal 2026-27, according to SteelOrbis on October 9, 2026. The output increase gives the company a tangible operating marker ahead of its next financial update.

Production reaches 13.86 million tonnes

Consolidated production for the first half of fiscal 2026-27 reached 13.86 million tonnes, up 4 percent from 13.32 million tonnes a year earlier, Upstox reported on October 9, 2026. Indian operations produced 7.07 million tonnes in the quarter, also up 5 percent year on year and 11 percent quarter on quarter.

Indian capacity utilization stood at 88 percent in the second quarter and reached 90 percent in September 2026 as Blast Furnace 3 at Vijayanagar ramped up after its capacity upgrade, according to Upstox.

What does production mean for earnings?

The operating data arrive after JSW Steel reported INR 466.62 billion in revenue and INR 46.51 billion in net profit for the first quarter of fiscal 2026-27. Revenue was up from INR 431.47 billion a year earlier, while net profit exceeded the prior-year INR 21.84 billion, according to Markets Insider on October 6, 2026.

The comparison matters because production growth must eventually translate into revenue and profit growth. The first-quarter result also included a high comparison base from the preceding quarter, when an exceptional gain affected reported profit.

October 23 results set the next test

JSW Steel is scheduled to consider unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, on October 23, 2026, according to NDTV Profit. The release will show whether the higher tonnage was accompanied by stronger margins and earnings.

J.P. Morgan maintained a Buy rating and set an INR 1,560.00 price target on October 6, 2026, as reported by Markets Insider. The target sits 33.85 percent above the INR 1,165.50 NSE price used for that comparison.

Stock remains below its yearly high

JSW Steel was last at INR 1,165.50 on the NSE on October 9, 2026 at 3:15 p.m. IST, versus a prior close of INR 1,175.20. The price stood 13.74 percent below its 52-week high of INR 1,351.00 and above its 52-week low of INR 1,073.20.