SAIL Q2 FY27: Profit Up 315%, EBITDA Margin Expands

📊 Steel Authority of India

reported its Q2 FY27 standalone numbers on 27 Oct 2026, and the jump in profitability stands out among PSU metal names this results season. Key numbers from the quarter (standalone, YoY): ✅ Revenue from operations: ₹31,998 Cr vs ₹26,704 Cr, up about 20% ✅ Net profit: ₹1,774 Cr vs ₹427 Cr, up about 315% ✅ EBITDA: ₹4,561 Cr vs ₹2,829 Cr, margin about 14.4% vs 10.7% ✅ H1 FY27 net profit: ₹3,410 Cr vs ₹1,112 Cr in H1 FY26 ✅ H1 crude steel production 9.6 MT vs 9.5 MT, so most of the gain came from realisations and costs, not volume What to track from here: ✅ Whether steel prices and import trends support these margins in H2 ✅ Coking coal cost movement and its impact on EBITDA per tonne ✅ Progress on capacity expansion and capex funding ✅ Domestic demand: India steel consumption grew about 8% while China output fell A low base flatters the percentage growth, so the real test is whether margins hold over the next few quarters. What is your view: is this the start of a cyclical upturn for Indian steel makers, or a one-quarter spike? Share your thoughts in the comments. 📲 For daily market notes, search "Neha Gupta SEBI RA" on Telegram and join the FREE channel. Neha Gupta | SEBI Registered Research Analyst | Reg. No. INH000016542 ⚠️ Disclaimer: This content is for educational purposes only and is not investment advice or a buy/sell recommendation. Investments in the securities market are subject to market risks. Read all related documents carefully before investing.