JTL Industries Q2FY27: revenue up 43.0% to ₹61,379.11 lakh, EBITDA margin broadly stable at 8.3%, H1 PAT up 66.2% (NSE: JTLIND)
On 2 November 2026, JTL Industries (NSE: JTLIND; BSE: 534600) filed its Q2FY27 consolidated results: revenue of ₹61,379.11 lakh, up 43.0% year on year, with EBITDA margin broadly stable at 8.3% as material costs rose faster than sales. H1 PAT was ₹6,433.25 lakh, up 66.2%, per the same filing.
On 2 November 2026, JTL Industries (NSE: JTLIND; BSE: 534600) filed its Q2FY27 consolidated results: revenue of ₹61,379.11 lakh, up 43.0% year on year, with EBITDA margin broadly stable at 8.3% as material costs rose faster than sales. H1 PAT was ₹6,433.25 lakh, up 66.2%, per the same filing.
The detail behind those two numbers is where the quarter gets interesting — revenue grew faster than profit, and the filings name the reason.
A second Q2FY27 filing the same day, on the profit line
A separate JTL Industries filing dated 2 November 2026 reports the quarter as revenue of ₹6,138 million and EBITDA of ₹508 million, up 46.5%, with PAT growth of 30.7% — held back, the filing states, by ₹27.8 million of additional non-cash depreciation. The same filing describes the quarter as volume-led, with planned H2 capacity.
So the two 2 November 2026 documents describe the same quarter from opposite ends: one leads with a 43.0% revenue increase and a broadly stable 8.3% EBITDA margin, the other with a 30.7% PAT increase trimmed by a non-cash charge. Both are company filings; neither contradicts the other.
The 2 November 2026 investor presentation adds the volume line and the capacity line: record H1FY27 sales volume of 2,18,997 MT, and plans for approximately 7,00,000 MT of incremental capacity in Maharashtra in H2FY27.
Volume grew 25.3% in Q2FY27 — per the 1 October release
JTL Industries published sales volume ahead of the results. Its 1 October 2026 release reported the highest ever half-yearly sales volume of 2,20,806 MT in H1FY27, up 21.2% YoY, with Q2FY27 volume at 1,02,255 MT, up 25.3% YoY. The same release said the company expects 7,00,000 MT of incremental capacity in Maharashtra to come on stream in H2FY27, focused on value-added products.
One discrepancy is worth flagging for anyone tracking the series: the 2 November 2026 investor presentation states record H1FY27 sales volume of 2,18,997 MT, while the 1 October 2026 release stated 2,20,806 MT. Both are filed figures. The next volume disclosure is where they should reconcile.
The Q1FY27 base: revenue up 32.7%, margin reported two ways
The August filings set up the comparison. On 5 August 2026, JTL Industries reported Q1FY27 revenue of ₹7,216 million, up 32.7% YoY on 17.8% volume growth, with EBITDA of ₹587 million, up 151.2%, and margin at 8.1%.
Two other filings dated 5 August 2026 carry a different margin for the same quarter. One states Q1FY27 consolidated revenue of ₹72,160.74 lakh, up 32.7%, EBITDA margin of 8.8% (a 344 bps expansion, as filed), and attributable PAT of ₹3,255.21 lakh, up 99.4% YoY — while noting PAT declined 5.4% sequentially as depreciation increased sharply, attributed in the filing to revalued assets. A third filing that day puts revenue at ₹722 Cr, margin at 8.8% and attributable PAT at ₹32.6 Cr.
The transcript filed 10 August 2026 for the call held 5 August 2026 reports revenue of ₹722 crore, EBITDA of ₹59 crore at an 8.1% margin, PAT of ₹35 crore, and sales volume of 1,18,513 metric tons, up 17.8% YoY.
₹15 crore to double narrow-width HR coil capacity, targeted for Q4FY27
On 24 August 2026, JTL Industries disclosed that subsidiary JTL Engineering plans to invest approximately ₹15 crore to expand narrow-width HR coil manufacturing capacity from 5,000 MT per month to 10,000 MT per month. The expansion also raises maximum coil width from 9 inches to 11 inches. The filing states the expanded facility is expected to be commissioned in Q4FY27.
A Canada order for 5,000 MT, valued at USD 3.4 million
Two filings dated 5 October 2026 cover the same export order. One states an order from Canada for approximately 5,000 metric tons of Black Welded Hollow Sections; the other states the order is valued at approximately USD 3.4 million and is scheduled for execution within the current quarter. (The value is stated in the filing in USD; no rupee equivalent is given there.)
On 13 October 2026, JTL Industries filed notice of a further order/contract, with value and scope not detailed in the filing.
What the filings put a date on
- Q4FY27 — expected commissioning of the JTL Engineering narrow-width HR coil expansion (filing, 24 August 2026).
- H2FY27 — approximately 7,00,000 MT of incremental capacity in Maharashtra (1 October 2026 release; repeated in the 2 November 2026 presentation).
- Depreciation — the Q1FY27 filing attributes elevated depreciation to revalued assets; the 2 November 2026 filing cites ₹27.8 million of additional non-cash depreciation in Q2FY27.
- Routine — the board meeting of 31 August 2026 took note of the re-appointment of two whole-time directors as liable to retire by rotation, fixed 25 September 2026 as the AGM date and 11 September 2026 as the record date for dividend, per that filing.
No view is offered here on what any of it means for the price of the stock. The filings are above, with dates and document types, for the reader to work through.
Alpha Inflection is research infrastructure, not investment advice. We are not SEBI-registered investment advisers. Everything above is compiled from public corporate filings, with sources cited. Do your own research.
The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 5 Aug 2026 | Q1FY27 revenue reached a record ₹7,216 million, up 32.7% YoY on 17.8% volume growth, while EBITDA rose 151.2% to ₹587 million and margin expanded to 8.1%, sustaining the recent value-added product and operating recovery. | filing | |
| 5 Aug 2026 | JTL Industries Q1FY27 consolidated revenue jumps 32.7% YoY to ₹722 Cr, EBITDA margin expands 344bps to 8.8%, PAT attributable to owners rises 99.4% to ₹32.6 Cr, but sequential decline from Q4FY26's peak and elevated depreciation due to revalued assets temper the picture. | filing | |
| 2 Nov 2026 | Q2FY27 consolidated revenue rose 43.0% YoY to ₹61379.11 lakh, but EBITDA margin was broadly stable at 8.3% as material costs rose faster than sales; H1 PAT was up 66.2% to ₹6433.25 lakh. | filing | |
| 2 Nov 2026 | Q2 FY27 revenue rose 43.0% YoY to ₹6,138 million and EBITDA 46.5% to ₹508 million, but PAT growth lagged at 30.7% because of ₹27.8 million of additional non-cash depreciation; volume-led growth and planned H2 capacity remain the trajectory. | filing | |
| 5 Aug 2026 | Q1FY27 consolidated revenue was ₹72,160.74 lakh, up 32.7% YoY, while EBITDA margin improved to 8.8% and attributable PAT rose 99.4% YoY to ₹3,255.21 lakh, although PAT declined 5.4% sequentially as depreciation increased sharply. | filing | |
| 10 Aug 2026 | JTL Industries releases Q1 FY27 earnings call transcript, reporting record revenue of ₹722 crore and EBITDA of ₹59 crore, with management reiterating volume growth and margin guidance. | JTL Industries published the transcript of its Q1 FY27 earnings conference call held on August 5, 2026, detailing record quarterly revenue of ₹722 crore, EBITDA of ₹59 crore (8.1% margin), PAT of ₹35 crore, and sales volume of 1,18,513 metric tons (17.8% YoY growth). Management discussed operational performance, capacity utilization, export challenges, capex plans, and guidance. | filing |
| 24 Aug 2026 | JTL Industries subsidiary JTL Engineering announces ₹15 crore capex to double narrow-width HR coil capacity to 10,000 MT per month by Q4 FY27 | JTL Engineering, a subsidiary of JTL Industries, plans to invest approximately ₹15 crore to expand its narrow-width HR coil manufacturing capacity from 5,000 MT per month to 10,000 MT per month. The expansion will also increase the maximum coil width from 9 inches to 11 inches, broadening the product range. The expanded facility is expected to be commissioned in Q4 FY27. | filing |
| 31 Aug 2026 | JTL Industries board approves routine re-appointment of two whole-time directors, fixes AGM date and record date for dividend. | The Board of Directors of JTL Industries at its meeting on August 31, 2026, took note of the re-appointment of Mr. Rakesh Garg and Mr. Sanjeev Gupta as whole-time directors (liable to retire by rotation), fixed September 25, 2026 as the date for the 35th Annual General Meeting, set September 11, 2026 as the record date for dividend, and approved the notice, agenda, director's report, and appointment of a scrutinizer for e-voting. | filing |
| 1 Oct 2026 | JTL Industries reports highest ever half-yearly sales volume of 2,20,806 MT in H1 FY27, up 21.2% YoY, with Q2 volume growing 25.3%. | JTL Industries achieved its highest ever half-yearly sales volume of 2,20,806 MT in H1 FY27, a 21.2% YoY increase. Q2 FY27 volume stood at 1,02,255 MT, up 25.3% YoY. The company expects 7,00,000 MT of incremental capacity in Maharashtra to come on stream in H2 FY27, focused on value-added products. | filing |
| 5 Oct 2026 | JTL Industries receives export order from Canada for 5,000 metric tons of Black Welded Hollow Sections. | JTL Industries announced receipt of an export order from Canada for approximately 5,000 metric tons of Black Welded Hollow Sections. | filing |
| 5 Oct 2026 | JTL Industries secures USD 3.4 million export order from Canada for 5,000 metric tons of Black Welded Hollow Sections. | JTL Industries announced an export order from Canada for 5,000 MT of Black Welded Hollow Sections valued at approximately USD 3.4 million, scheduled for execution within the current quarter. | filing |
| 13 Oct 2026 | JTL Industries receives new order win, boosting its order book amid strong FY27 growth guidance. | JTL Industries announced receipt of a new order/contract, the value and scope of which are not detailed in the filing. | filing |
| 2 Nov 2026 | JTL Industries reports record H1 FY27 sales volume of 2,18,997 MT and plans ~7,00,000 MT incremental capacity addition in Maharashtra in H2 FY27. | filing |
Quick answers
- What did JTL Industries disclose?
- On 2 November 2026, JTL Industries (NSE: JTLIND; BSE: 534600) filed its Q2FY27 consolidated results: revenue of ₹61,379.11 lakh, up 43.0% year on year, with EBITDA margin broadly stable at 8.3% as material costs rose faster than sales. H1 PAT was ₹6,433.25 lakh, up 66.2%, per the same filing.
- What are the key numbers?
- A separate JTL Industries filing dated 2 November 2026 reports the quarter as revenue of ₹6,138 million and EBITDA of ₹508 million, up 46.5%, with PAT growth of 30.7% — held back, the filing states, by ₹27.8 million of additional non-cash depreciation. The same filing describes the quarter as volume-led, with planned H2 capacity.
- What does JTL Industries say comes next?
- On 24 August 2026, JTL Industries disclosed that subsidiary JTL Engineering plans to invest approximately ₹15 crore to expand narrow-width HR coil manufacturing capacity from 5,000 MT per month to 10,000 MT per month. The expansion also raises maximum coil width from 9 inches to 11 inches.
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