Transcripts of the Q2FY27 Earnings Conference Call conducted after the meeting of Board of Directors

AI summary - Q2 FY27 consolidated revenue Rs.54,486 Cr, EBITDA Rs.9,941 Cr (18% margin), PAT Rs.5,359 Cr - Domestic steel demand expected to grow 7-8% in FY27; JSW sales up 14% YoY - Capex guidance Rs.22,000-24,000 Cr for FY27; total 5-6 year capex plan Rs.1.48 lakh Cr - New projects: Utkal Phase-2 (5 mn t by Q1 FY31), JVML pellet plant (8 mn t), Dolvi Phase-3 upgrades - Coking coal cost to rise $25 in Q3; iron ore costs marginally higher; focus on raw material security - Net debt Rs.44,482 Cr; leverage improved to 1.28x; strong balance sheet supports growth - Value-added steel sales 4.11 mn t (+11% YoY); auto sector sales +36% YoY - Multiple analyst queries on capex execution and raw material integration; mgmt confident on execution and balance sheet strength - Sustainability: net carbon-neutral by 2050 target; 134 electric buses deployed; awarded for clean steel production