JSW Steel Q2 Results: Management ‘cautious’ for 2026; margins expand

JSW Steel Ltd. announced its September quarter results just before the close of trade on Friday, October 17, where all parameters were higher on a year-on-year basis.Net profit for the period stood at ₹1,646 crore from ₹404 crore during the same quarter last year.

Revenue for the quarter showing a growth of 11.3% to ₹45,152 crore from ₹39,684 crore last year.
JSW Steel’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹7,115 crore, which is a 31% growth from ₹5,437 crore in the same quarter last year.Margins have also expanded by 210 basis points to 15.80% from 15.35% last year.

The management said that global growth in 2025 has remained resilient, supported by front-loaded trade flows and consumption ahead of tariff changes.

However, the outlook for 2026 is more cautious, with continued geopolitical uncertainty and elevated tariffs likely to weigh on momentum, despite some easing following recent trade agreements.

Shares of JSW Steel are trading 0.55% lower on Friday at ₹1,165.70. The stock is up 30% in 2025 so far.