Vedanta Iron and Steel Limited · NSE:VISL
Vedanta Iron and Steel — Q2 FY27 Earnings Presentation
29 slides from Vedanta Iron and Steel's earnings presentation, Oct 27, 2026
Slide 1: Exchange intimation letter: outcome of board meeting
VISL/SEC./SE/2026-27/52 October 27, 2026 To To BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block – G, Dalal Street, Fort Bandra Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai – 400 051 BSE Scrip Code: 544784 NSE Scrip Code: VISL Sub: Outc
Slide 2: H1 EBITDA Surges 54%; Margins Expand 275 bps
Vedanta Iron And Steel Limited’s H1 EBITDA Surges54%; Margins Expand 275 bps H1 Revenue Rises 8% to ₹6,450 Crore| Steel Production Grows 4% | CRISIL Assigns AA/Stable Rating Panjim, Goa: Vedanta Iron And Steel Limited (VISL), an integrated iron ore and steel company with operations across India & Af
Slide 3: CEO and CFO Comments; ESG Highlights; Awards
CEO's Comment: Mr Pankaj Kumar Sharma, CEO, VISL, said: "VISL delivered a stronger year-on-year operating performance in H1 FY27, supported by improved steel realisations, higher steel volumes and continued efficiency initiatives. During the quarter, we completed planned shutdowns at our Bokaro and
Slide 4: Outlook
Outlook India's infrastructure development, manufacturing expansion and growing demand for steel provide a long-term opportunity for the sector. VISL's integrated business model and operating capabilities positions it to participate in this opportunity. The Company's focus remains on strengthening o
Slide 5: Vedanta Iron & Steel Limited Q2 & H1 FY27
Vedanta Iron & Steel Limited EARNINGS PRESENTATION Q2 & H1 FY27 Strengthening Foundations Building Nations
Slide 6: Table of Contents
Highlights 1 Quarterly & Half Yearly Highlights Business Performance 2 Steel | Iron Ore | Project Updates Table of Contents 3 CSR 4 Financial Update Snapshot | EBITDA | Net Debt 5 Appendix
Slide 7: Highlights Q2 & H1 FY27
ep >>> Highlights Q2 & H1 FY27 vedanta iron & steel
Slide 8: Highlights – Q2 & H1 FY27
I Highlights – Q2 & H1 FY27 Revenue EBITDA EBITDA Margin PAT Q2 FY27 Q2 FY27 Q2 FY27 Q2 FY27 ₹2788 crore ₹83 crore 3% -₹324 crore -2% YoY +56% YoY +112 bps YoY Vs -₹477 Cr in Q2 FY26 H1 FY27 H1 FY27 H1 FY27 H1 FY27 ₹6450 crore ₹598 crore 9% -₹203 crore +8% YoY +54% YoY +275 bps YoY Vs -₹622 Cr in H1
Slide 9: Business Performance
Business Performance Q2 & H1 FY27
Slide 10: Steel
I Steel Saleable Production Sales Margin Margin (KT) (KT) (INR/MT) (%) +4% YoY +3% YoY +198% YoY +475 bps YoY 1,114 1,104 3,709 8% 1,074 1,071 1,246 3% H1'26 H1'27 H1'26 H1'27 H1'26 H1'27 H1'26 H1'27 Quarterly Quarterly Quarterly Quarterly Q2'26 Q1'27 Q2'27 Q2'26 Q1'27 Q2'27 Q2'26 Q1'27 Q2'27 Q2'26
Slide 11: Iron Ore
I Iron Ore Saleable Production Sales Margin 1 (Mn DMT) (Mn DMT) (INR/MT) -3% YoY -13% YoY -1% YoY Merchant Captive 967 4.3 4.2 3.2 960 2.8 0.5 0.8 2.6 2.0 H1'26 H1'27 H1'26 H1'27 H1'26 H1'27 Quarterly Quarterly Quarterly Q2'26 Q1'27 Q2'27 Q2'26 Q1'27 Q2'27 Q2'26 Q1'27 Q2'27 1.8 2.6 1.5 1.3 2.0 0.8 9
Slide 12: Project Updates
I Project Updates Capex in Progress (In INR Cr) Approved Capex Capex in Q2 FY27 Capex up to Q2 FY27 Balance as on 30th Sept 2026 Ductile Iron Pipe – Goa 722 111 453 269 ESL Phase 1A 2975 120 2343 632 Total 3,697 231 2,796 901 FY27 FY28 • Bicholim Mine (Goa) Expansion from 3 – 3.6 MTPA Iron Ore1 • Ja
Slide 13: People, Community & Environment
People, Community & Environment
Slide 14: Empowering Communities with Strategic Investment
I Empowering Communities with Strategic Investment Q2 +39.8 K Updates Beneficiaries Human Capital 7 Initiatives ( Healthcare, children’s Well-being & Education) 22.13 K Social inclusion 8 Initiatives (Women empowerment, Achieved the prestigious AIFF 3-Star 6.67 K Skilling & Livelihoods) Rating for t
Slide 15: Financial Update
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Slide 16: Q2FY27 & H1FY27 Financial Snapshot
I Q2FY27 & H1FY27 Financial Snapshot REVENUE EBITDA EBITDA Margin Profit after tax ₹ 2,788 crore ₹ 83 crore 3% - ₹ 324 crore Q2 FY27 2% y-o-y 56% y-o-y 112 bps y-o-y Vs -477 Cr in Q2 FY26 ₹ 6,450 crore - ₹ 203 crore H1 FY27 ₹ 598 crore 9% 8% y-o-y 54% y-o-y 275 bps y-o-y Vs -622 Cr in H1 FY26 Cash &
Slide 17: EBITDA Bridge (H1FY27 vs. H1FY26)
I EBITDA BRIDGE (H1FY27 vs. H1FY26) (In ₹ crore) 632 55 26 598 -416 -88 389 H1 FY 26 NSR Input Commodity Cost Mines Volume Steel Volume H1 FY 27 Key Drivers NSR: Driven by improved steel and iron ore realizations. Input Commodity: Impacted by higher coking coal costs. Cost: Driven by improved coke y
Slide 18: EBITDA Bridge (Q2FY27 vs. Q2FY26)
I EBITDA BRIDGE (Q2FY27 vs. Q2FY26) 298 (In ₹ crore) 14 -200 83 -83 54 Q2 FY 26 NSR Input Commodity Cost Mines Volume Q2 FY 27 Key Drivers NSR: Benefited from stronger steel realizations. Input Commodity: Impacted by elevated freight and raw material costs, particularly coking coal and fuel. Cost: D
Slide 19: EBITDA Bridge (Q2FY27 vs. Q1FY27)
I EBITDA BRIDGE (Q2FY27 vs. Q1FY27) (In ₹ crore) 515 -135 -71 -69 83 -147 -10 Q1 FY 27 NSR Input Commodity Cost Mines Volume Steel Volume Q2 FY 27 Key Drivers NSR: Impacted by weaker steel realizations, lower iron ore index and higher discounts during the quarter. Input Commodity: Impacted by higher
Slide 20: Net Debt Walk Q2FY27
I Net Debt Walk Q2FY27 (In ₹ crore) Debt Breakdown Gross Debt Jun'26 Sep'26 Term Debt 943 623 92 Short Term Borrowing 1,220 1,378 2,733 129 2,763 Working Capital 629 636 -191 Total Consolidated Debt 2,792 2,637 Cash and Cash Equivalents 1,0181 8471 Net Debt (External) 1,773 1,790 Inter Company Debt
Slide 21: Recognitions towards our commitment to excellence
I Recognitions towards our commitment to excellence Recognized by New ESL Bokaro recognised with Mangalore Port Authority Iron Ore Karnataka GreenPro Certified Steel with Gold Export Excellence Recognised with Hindalco- Portfolio Award’26 for all Steel Award for FY 2025-26 for Aditya Birla Award for
Slide 22: Appendix
ep >>> Appendix
Slide 23: Summary of Income Statement
I Summary of Income Statement (In ₹ Crore) Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 ▪ EBITDA o On YoY basis, Q2FY27 EBITDA increased by 56 %, on Revenue from operations 2742 3612 2790 6354 5823 account of better steel realisation along with operational Other operating income 46 50 68 96 130 excellence and
Slide 24: Net Debt Walk H1FY27
I Net Debt Walk H1FY27 12,296 (In ₹ crore) Debt Breakdown Gross Debt Mar'26 Sep'26 Term Debt 1,161 623 Short Term Borrowing 2,919 1,378 300 2,763 Working Capital 598 636 Total Consolidated Debt 4,678 2,637 2,508 193 Cash and Cash Equivalents 1,8161 8471 -9,788 Net Debt (External) 2,862 1,790 -237 In
Slide 25: Segment Summary – Iron Ore
I Segment Summary – Iron Ore Quarter Half-Yearly Production (In million dry metric tonnes, or as stated) Q2FY27 Q2FY26 % YoY Q1FY27 H1FY27 H1FY26 % YoY Production of Saleable Ore 1.5 1.8 -13% 2.6 4.2 4.3 -3% Goa 0.1 0.1 22% 0.6 0.7 0.3 130% Karnataka 0.5 1.0 -49% 0.9 1.4 2.6 -47% Odisha 0.9 0.7 34%
Slide 26: Segment Summary - Steel
I Segment Summary - Steel Quarter Half-Yearly Production (In ‘000 tonnes, or as stated) Q2FY27 Q2FY26 % YoY Q1FY27 H1FY27 H1FY26 % YoY Hot Metal 552 533 3% 601 1,153 1,116 3% Goa 236 238 -1% 238 474 451 5% Bokaro 315 295 7% 363 679 665 2% Saleable Production 532 512 4% 582 1,114 1,074 4% Pig Iron 27
Slide 27: Sales Summary
I Sales Summary Quarter Half-Yearly Sales volume Q2FY27 Q2FY26 Q1FY27 H1FY27 H1FY26 Iron ore sales* Goa (mn dmt) 0.1 0.1 0.6 0.6 0.4 Karnataka (mn dmt) 0.0 0.6 0.5 0.5 1.3 Odisha (mn dmt) 0.7 0.6 0.9 1.6 1.5 Total (mn dmt) 0.8 1.3 2.0 2.8 3.2 Steel sales (kt) 532 545 572 1,104 1,071 Pig Iron - Goa 2
Slide 28: Earnings Call Details
I Earnings Call Details Event Telephone Number +91 22 6280 1114 Universal Dial-In +91 22 7115 8015 India National Toll Free 1 800 120 1221 Earnings conference call on October Canada 01180014243444 27, 2026, from 5:00 PM to 5:30 PM Hong Kong 800964448 (IST) Japan 00531161110 Netherlands 08000229808 I
Slide 29: Forward Looking Statement
I Forward Looking Statement The views expressed here may contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information. Any forward-looki
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