JSW Steel Q2 Profit at ₹5,359 Cr; CG Power, CSB Bank Post Gains

JSW Steel Limited announced its financial results for the second quarter ending September 30, 2026, reporting a consolidated net profit after tax of ₹5,359 crore. This strong showing accompanies the company reaching its highest-ever crude steel production level of 7.27 million tonnes, marking a 5 percent increase compared to the same quarter last year and a 10 percent rise from the previous quarter.

The company’s revenue from operations rose to ₹54,486 crore for the quarter, reflecting a 31 percent year-on-year increase on a proforma basis. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹9,941 crore, delivering a margin of 18.3 percent. Reported EBITDA was slightly higher at ₹10,120 crore. The quarterly growth in EBITDA by 6 percent from the previous quarter was driven primarily by increased volumes, although these gains were partially offset by elevated coking coal prices and reduced realisations.

Sales of saleable steel reached a record 7.46 million tonnes, up 13 percent year-on-year and 19 percent quarter-on-quarter. Domestic sales contributed significantly with a record 6.29 million tonnes. The company also improved its net debt-to-equity ratio to 0.39 times from 0.42 times in the prior quarter, with net debt totaling ₹44,482 crore.

Looking ahead, the JSW Steel Board approved major capital investments, including a 5 million tonnes per annum Phase-II expansion at the Utkal plant in Odisha, with a projected capital expenditure of ₹16,150 crore. This expansion aims for completion by the first quarter of fiscal year 2031. The overall capital expenditure guidance for FY27 stands between ₹22,000 crore and ₹24,000 crore.

Other notable quarterly updates include CG Power and Industrial Solutions, which reported an uptick in earnings, reflecting improved operational efficiencies and market conditions. Meanwhile, CSB Bank posted a 14 percent year-on-year jump in profit, supported by steady growth in net interest income and a rising asset base.

Mahindra Logistics also recorded a turnaround by becoming profitable in this quarter, highlighting its operational improvements and business expansion efforts. On the other hand, Shree Digvijay Cement faced challenges leading to a swing into losses, indicative of sectoral pressures and competitive market dynamics.

Atul, a chemical manufacturing company, announced a significant ₹90 crore share buyback program, signaling confidence in its financial health and commitment to enhancing shareholder value.

These results come amid a mixed landscape in the Indian industrial and financial sectors, where companies are navigating inflationary pressures, supply chain disruptions, and fluctuating commodity prices. JSW Steel’s strong performance aligns with the broader trend of industrial revival supported by government infrastructure projects and robust domestic demand. The steel sector remains a barometer for the country’s manufacturing health, and JSW’s record production and sales figures underscore ongoing capacity expansions and market capture strategies.

Financial institutions like CSB Bank and Jana Small Finance Bank are benefiting from improving credit demand and a focus on asset quality, as indicated by their rising profits and healthy capital adequacy ratios. Jana Small Finance Bank, for example, recorded its highest-ever quarterly profit before tax of ₹170 crore, doubling its profit year-on-year and raising its full-year profit guidance based on strong first-half performance.

As these companies report their quarterly earnings, investors and analysts are closely watching operational metrics alongside strategic initiatives such as capacity expansions, mergers, and buyback announcements. The data provides insights into sectoral recovery patterns and potential investment opportunities within the Indian market.