Iron & Steel Products company JTL Industries announced Q2FY26 results Total Revenue: Rs 4,312 million against Rs 4,873 million during Q2FY25, change -11.5%. EBITDA: Rs 346 million against Rs 298 million during Q2FY25, change 16.14%. PAT: Rs 221 million against Rs 263 million during Q2FY25, change -15.9%. Management Commentary: JTL Industries delivered a strong rebound in the second quarter of FY26, with profitability and operational metrics improving sharply over the previous quarter. The Company’s EBITDA increased 48% QoQ, while EBITDA per metric tonne surged 83% to Rs 4,247, reflecting enhanced product mix and cost efficiencies. PAT grew 34% QoQ to Rs 221 million, underscoring a solid recovery in margins driven by higher value-added product contribution andcontinued demand strength across domestic and export markets. The first half of FY26 reflected steady operational momentum for JTL Industries as we continued to build on the foundation laid in the previous quarters. Despite a softer pricing environment, the Company delivered a stable performance with sales volumes rising 3.5% YoY to 182,210 MT, supported by both domestic and export markets.Total income for H1 stood at Rs 9,809 million, maintaining consistency with last year’s level. During this period, wealso advanced our strategic priorities — launching new product lines, optimizing raw material sourcing, andinitiating capacity expansion to enhance future growth. While profitability was temporarily impacted by pricing pressures and expansion-linked costs, margins are expected to recover in the coming quarters as our value-added product portfolio scales up and efficiencies start reflecting. The second quarter of FY26 demonstrated continued momentum for JTL Industries, supported by strong volume performance and strategic product diversification. Total income stood at Rs 4,313 million in Q2FY26, with EBITDA at Rs 346 million (8.5%) and PAT at Rs 222 million (5.1%). Sales volume for the quarter reached 81,593 MT, led by a strong domestic contribution and steady exports. The first half of FY26 closed with cumulative sales of 182,210 MT,marking a 3.5% YoY growth and highlighting resilient demand despite a softer pricing environment. We also achieved a key technological milestone by successfully producing our first batch of 0.04 mm ultra-thin brass foil, marking JTL’s entry into the specialized defence and industrial foil segment through a strategic job-work partnership. In parallel, we announced a major capacity expansion—a new ERW pipe manufacturing line focusedon API-grade, high-thickness pipes catering to the oil & gas, water transmission, and CGD sectors. This expansionstrengthens JTL’s positioning among the few Indian manufacturers capable of producing large-diameter, API compliant ERW pipes. With strong demand visibility, rising value-added contribution, and new capacities underway, JTL Industriesremains well-positioned to deliver sustainable growth and margin improvement in H2FY26, reinforcing its longterm strategy of innovation-driven and diversified growth. Result PDF