JSW Steel triples quarterly profit: what coal costs mean for JSW Steel stock

Published on 10/25/2026 at 02:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Net profit reached INR 52.79 billion in the second quarter of fiscal 2027. For JSW Steel stock, coking coal may cost USD 25 more per ton in the third quarter.

Earnings and cost pressure

Net profit reached INR 52.79 billion in the second quarter of fiscal 2027 on October 23, 2026.
Revenue rose 20.7 percent year over year to INR 544.86 billion in the second quarter of fiscal 2027.
JSW Steel held an INR 2.9 trillion market capitalization as of October 23, 2026.

JSW Steel, INE019A01038, Illustration mit AI erstellt.

JSW Steel (ISIN INE019A01038) more than tripled consolidated net profit to INR 52.79 billion in the second quarter of fiscal 2027 ended September 30, 2026. As MarketScreener reported on October 23, 2026, management also warned that coking coal prices could rise USD 25 per ton in the third quarter.

Profit growth beats revenue growth

Revenue from operations increased 20.7 percent year over year to INR 544.86 billion in the second quarter, from INR 451.52 billion a year earlier. Net profit rose 225.3 percent from INR 16.23 billion, showing that earnings growth outpaced sales growth by 204.6 percentage points.

Business Standard reported that adjusted earnings before interest, taxes, depreciation, and amortization reached INR 99.41 billion, with an adjusted margin of 18.3 percent. The same report said quarterly capital spending reached INR 62.66 billion, while first-half fiscal 2027 capital spending totaled INR 111.36 billion.

What does coal pressure mean for margins?

The cost warning is the main counterweight to the results. The Reuters report carried by MarketScreener said operating margin was 18.57 percent in the second quarter, compared with 15.76 percent a year earlier. Raw-material costs increased 12.5 percent, giving investors a measurable test for the next quarter.

Three dates changed the picture

On October 7, 2026, JSW Steel fully redeemed USD 500 million of notes due in 2027, according to MarketScreener. On October 8, 2026, the company reported second-quarter crude steel production of 7.27 million tonnes, and on October 23, 2026, it reported net profit of INR 52.79 billion for the quarter.

The operating scale was also visible in sales of 7.46 million tonnes, up 13 percent year over year and 19 percent sequentially, according to EquityBulls. The board also approved a 5 million tonne annual expansion at JSW Utkal with a capital outlay of INR 161.50 billion, targeted for commissioning in the first quarter of fiscal 2031.

Stock valuation after the results

The NSE close was INR 1,185.50 on October 23, 2026 at 4:00 p.m. IST, while the company had a market capitalization of INR 2.9 trillion and a 52-week range of INR 1,073.20 to INR 1,351.00. The closing level sat 12.25 percent below the 52-week high, leaving operating margins and coal costs as the key figures for the next earnings cycle.