- Home
- Results news
- Vedanta Iron and Steel
- Q2 FY27 results
Vedanta Iron and Steel Q2 FY27 results: net loss of ₹324 crore
Vedanta Iron and Steel Limited reported consolidated revenue of ₹2,788 crore and EBITDA of ₹48 crore in Q2 FY27, with an EBITDA margin of 1.7%. The company reported a net loss of ₹324 crore and basic EPS of negative ₹0.80, while the standalone basis showed revenue of ₹1,069 crore and a net loss of ₹3 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹2,788 crore, down 23.9% from Q1 FY27.
- Consolidated Q2 FY27 EBITDA was ₹48 crore, down 90.6% from Q1 FY27, with an EBITDA margin of 1.7% compared with 13.9%.
- The company reported a net loss of ₹324 crore in Q2 FY27, compared with a net profit of ₹121 crore in Q1 FY27.
- Basic EPS was negative ₹0.80 in Q2 FY27, compared with ₹0.31 in Q1 FY27.
- At 30 September 2026, total assets were ₹17,208 crore, total equity was ₹5,971 crore, borrowings were ₹3,611 crore and cash was ₹242 crore.
How did Vedanta Iron and Steel perform in Q2 FY27?
Vedanta Iron and Steel reported consolidated revenue from operations of ₹2,788 crore for Q2 FY27, down 23.9% from ₹3,662 crore in Q1 FY27. EBITDA fell 90.6% to ₹48 crore from ₹508 crore, while the EBITDA margin narrowed to 1.7% from 13.9%. The company reported a net loss of ₹324 crore, compared with a net profit of ₹121 crore, and basic EPS was negative ₹0.80 against ₹0.31.
The consolidated result included other income of ₹58 crore, total expenses of ₹3,129 crore, finance costs of ₹171 crore, depreciation of ₹218 crore and an exceptional charge of ₹37 crore. Loss before tax was ₹320 crore and tax was ₹4 crore. On the standalone basis, revenue was ₹1,069 crore and the company reported a net loss of ₹3 crore. H1 FY27 consolidated revenue was ₹6,450 crore, with a net loss of ₹203 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | QoQ |
|---|---|---|---|
| Revenue from operations | 2,788 | 3,662 | −23.9% |
| Other income | 58 | 89 | −34.8% |
| Total expenses | 3,129 | 3,586 | −12.7% |
| EBITDA | 48 | 508 | −90.6% |
| EBITDA margin | 1.7% | 13.9% | −12.2 pp |
| Profit before tax | −320 | 165 | turned to loss |
| Tax | 4 | 54 | −92.6% |
| Net profit | −324 | 121 | turned to loss |
| EPS (₹) | −0.80 | 0.31 | turned to loss |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹17,208 crore and total equity was ₹5,971 crore. Borrowings stood at ₹3,611 crore and cash was ₹242 crore. Inventories were ₹2,347 crore, trade receivables were ₹212 crore and trade payables were ₹1,377 crore. The available figures do not include a comparison with the previous balance sheet date.
For H1 FY27, consolidated operating cash flow was ₹753 crore, investing cash flow was ₹1,446 crore and financing cash flow was negative ₹3,010 crore. Capital expenditure was ₹331 crore. No year-earlier cash-flow comparison was provided in the available results data.
| ₹ crore | As of 30 September 2026 |
|---|---|
| Total assets | 17,208 |
| Total equity | 5,971 |
| Borrowings | 3,611 |
| Cash and equivalents | 242 |
| Inventories | 2,347 |
| Trade receivables | 212 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 |
|---|---|
| Cash from operations | 753 |
| Cash from investing | 1,446 |
| Cash from financing | −3,010 |
| Capital expenditure | 331 |
Source: Company's results filing (XBRL).
Which businesses drove the quarter?
In Q2 FY27, the Iron Ore segment reported revenue of ₹638 crore, an EBIT loss of ₹72 crore and an EBIT margin of negative 11.3%. The Steel segment reported revenue of ₹2,488 crore, an EBIT loss of ₹63 crore and an EBIT margin of negative 2.5%. The Others segment reported revenue of ₹46 crore and an EBIT margin of 0.0%.
The available segment figures do not include year-ago revenue, EBIT or growth rates, so a year-on-year comparison cannot be stated. The company’s same-day presentation said that seasonal disruptions in iron ore production, planned plant shutdowns and higher input and conversion costs affected quarterly operating profitability.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Iron Ore | 638 | −72 | -11.3% | |
| Steel | 2,488 | −63 | -2.5% | |
| Others | 46 | 0 | 0.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited consolidated and standalone financial results for the second quarter and half year ended 30 September 2026 on 27 October 2026. S.R. Batliboi & Co. LLP issued an unmodified opinion on the limited review of the financial results. The filing stated that disclosures relating to proceeds from public issues, rights issues, preferential issues or qualified institutional placements were not applicable.
The same-day filing enclosed the press release and investor presentation and stated that both would also be available on the company’s website. No dividend, fund-raising or appointment was disclosed in the available same-day filing excerpts. CRISIL assigned the company an AA/Stable credit rating during Q2 FY27 and H1 FY27, according to the press release.
What did Vedanta Iron and Steel's management say?
CEO Pankaj Kumar Sharma said H1 FY27 operating performance improved year-on-year because of improved steel realisations, higher steel volumes and continued efficiency initiatives. He said planned shutdowns at the Bokaro and Goa operations were completed to strengthen asset reliability for the second half. The company also continued growth projects and renewable energy initiatives, while maintaining focus on safety, operational discipline and long-term value creation.
CFO Navin Jaju said H1 FY27 EBITDA increased 54% year-on-year to ₹598 crore and margin expanded by 275 basis points to 9%. He said the company would remain focused on disciplined capital allocation, working capital management and cash generation as it progressed strategic growth investments. The available earnings-call document did not include further guidance, risks or analyst questions.
How did Vedanta Iron and Steel shares react?
VISL closed 5.0% below its pre-results close on the reaction day, and by the next day’s close the stock was down 9.7% from that pre-results close. After the filing appeared, the stock was up 1.1% after 5 minutes, up 0.4% after 15 minutes and up 0.7% after 30 minutes. By the fifth session’s close, it was down 2.6% from the pre-results close.
The Nifty Smallcap 250 was up 0.3% on the reaction day and up 1.0% by the next day’s close. No industry-median reaction figures were available for comparison. Earlier reaction-day moves were negative 0.7% on 29 July 2026 and positive 5.0% on 16 June 2026.
| After the filing | Stock |
|---|---|
| 5 minutes | +1.1% |
| 15 minutes | +0.4% |
| 30 minutes | +0.7% |
| Reaction day | −5.0% |
| Next day | −9.7% |
| 5 days | −2.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 29 July 2026 | −0.7% |
| 16 June 2026 | +5.0% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Vedanta Iron and Steel's revenue in Q2 FY27?
Revenue from operations was ₹2,788 crore (consolidated).
Did Vedanta Iron and Steel make a profit in Q2 FY27?
No. It reported a net loss of ₹324 crore.
What was Vedanta Iron and Steel's EPS in Q2 FY27?
Basic loss per share was ₹0.80.
How did Vedanta Iron and Steel shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.0% from the previous close.
When did Vedanta Iron and Steel announce its Q2 FY27 results?
On 27 October 2026, in a filing to the NSE.
Sources
- Analysts/Institutional Investor Meet/Con. Call Updates (NSE, 22 October 2026) · PDF
- Outcome of Board Meeting (NSE, 27 October 2026) · PDF
- The earnings call (30 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.