Q2 margins fall; confirmed and tentative orders near INR 17,000 crore
JINDALSAW · price
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On the reaction day the stock moved 3.4 pts less than Nifty Smallcap 250 and 3.5 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 standalone revenue rose 14% year on year to INR 3,881 crore, but EBITDA and profit after tax fell year on year to INR 265 crore and INR 71 crore. Confirmed orders worth USD 1.135 billion plus USD 625 million of letters of intent could lift the stated order book to near INR 17,000 crore. Management expects better H2 margins, while net debt fell to INR 2,245 crore; MENA delays, input costs and low plant use remain risks.
Large orders and lower net debt support recovery, but weak Q2 profits and MENA execution risks may keep near-term sentiment volatile.