BSE Metal Sector Regulatory Filings — October 31, 2026

31-10-2026

SAIL reported Q2 FY27 sales turnover of INR31,766 crore, up 20% YoY and 22% QoQ, driven by a 24% QoQ jump in sales volume to 5.2 million tons. EBITDA rose to INR4,561 crore, while PBT and PAT surged to INR2,356 crore and INR1,774 crore respectively, versus INR553 crore and INR427 crore in Q2 FY26. However, imported coking coal costs rose to INR22,930 per ton in Q2 from INR21,300 in Q1, pressuring margins, and full-year sales volume guidance was trimmed to ~21 million tons from 22 million tons.

• · Q2 FY27 crude steel production was 4.85 million tons, up 2% QoQ and 4% YoY.
• · H1 FY27 crude steel production was 9.6 million tons and sales volume was 9.33 million tons.
• · H1 FY27 EBITDA, PBT and PAT were INR8,917 crore, INR4,515 crore and INR3,410 crore respectively, versus INR5,754 crore, INR1,443 crore and INR1,112 crore in H1 FY26.
• · Borrowings reduced to INR20,583 crore as of Sep 30, 2026 from INR21,729 crore as of Jun 30, 2026 and INR21,663 crore as of Mar 31, 2026.
• · Cost of borrowings improved to 6.34% in H1 FY27 from 6.42% in H1 FY26.
• · Steel inventory stood at 1.59 million tons as of Sep 30, 2026, down from 2.15 million tons as of Jun 30, 2026 and 1.8 million tons as of Mar 31, 2026.
• · Iron ore fines sales were 2.5 million tons in H1 FY27 versus 0.9 million tons in H1 FY26, generating a profit of INR388 crore versus INR124 crore.
• · Imported coking coal cost rose to INR22,930 per ton in Q2 FY27 from INR21,300 per ton in Q1 FY27; October cost was INR24,100 per ton.
• · Labor code related expense was INR198 crore in Q2 FY27 and INR350 crore in H1 FY27.
• · FY27 capex guidance is INR15,000 crore, with H1 at INR5,500 crore and Q3+Q4 expected at INR9,000-10,000 crore.
• · Total capex planned over FY27-FY31 is INR1,20,000 crore, with internal accruals of INR40,000-50,000 crore expected.
• · Sales volume guidance for FY27 trimmed to ~21 million tons from 22 million tons.
• · RINL sales volume was 88,000 tons in Q2 FY27 and 184,000 tons in H1 FY27; full-year estimate is 500,000 tons.
• · Employee count is expected to reduce to 46,000 by end-FY27 and 26,000 by 2031.
• · Tasra coking coal mines are on track to start production from January 2027.
• · Rowghat iron ore mines have EC clearance for 3 million tons, with a phased ramp-up to 14 million tons over 3-4 years.
• · Gua ore mines capacity is planned to increase from 4 million tons to 10 million tons via an MDO.
• · The 2 MTPA pellet plant at RSP is on course and in advanced stages.
• · Iron ore production target for FY27 is 56 million tons, but expected achievement is 48-50 million tons.
• · Long-term aspiration is 100 million tons of iron ore production by FY31, excluding Chiria mines.
• · Q2 FY27 EBITDA per ton was INR8,170; H1 FY27 EBITDA per ton was INR9,561.
• · Net sales realization in Q2 FY27 was INR54,400 per ton for longs and INR57,000 per ton for flats; in October 2026, longs were INR58,700 per ton and flats INR61,700 per ton.
• · Rail products accounted for 8% of production volume and bar and rod for 22%.
• · The company consumes 85% imported coking coal and 15% indigenous coal, with a total coal basket of around 19 million tons.
• · No coke is purchased externally; the company is fully captive in coke production.

31-10-2026

JSL Overseas Holding Limited, part of the Jindal Stainless promoter group, acquired 6,77,316 equity shares (0.08% of voting capital) of Jindal Stainless Limited through open market purchases on 28-29 October 2026. The acquisition raised the acquirer's holding from 14,53,48,931 shares (17.63%) to 14,60,26,247 shares (17.71%), a modest 0.08 percentage point increase. The transaction was disclosed under Regulation 29(2) of the SEBI SAST Regulations, 2011, with total voting capital unchanged at 82,44,19,588 equity shares of Rs.2 each.

• · Acquisition executed in two tranches: 345000 shares on 28.10.2026 and 332316 shares on 29.10.2026
• · Mode of acquisition was open market purchase
• · No shares are encumbered by pledge/lien/non-disposal undertaking before or after the transaction
• · Acquirer holds no warrants, convertible securities, or voting rights otherwise than by shares
• · Equity share capital and total voting capital remained unchanged at Rs. 1648839176 divided into 824419588 equity shares of Rs.2 each before and after the acquisition
• · Disclosure made under Regulation 29(2) of SEBI (SAST) Regulations, 2011; scrip code 532508 on BSE