Board approves unaudited results for quarter and half year ended 30 September 2026; emphasis of matter noted
Board meeting of 16 October 2026 approved the unaudited results for the quarter and half year ended 30 September 2026, with the auditors' Limited Review Report; the conclusion is not modified.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 219446 | 178100 | +23.2% | 210656 | +4.2% |
| Total income | 220094 | 178476 | +23.3% | 211830 | +3.9% |
| Profit before tax | 30745 | 14271 | +115% | 26497 | +16% |
| Profit after tax | 22981 | 10513 | +119% | 19392 | +18.5% |
| Total comprehensive income | 23048 | 10503 | +119% | 19459 | +18.4% |
| Basic EPS | 2.37* | 1.08* | — | 2.00* | — |
- Total Income YoY Change
- +23.3%
- Period
- QUARTER ENDED 30.09.2026
Auditor's review
Conclusion: Unmodified
- Emphasis of Matter: ED attached Company properties to the extent of Rs. 30,758 Lakhs; AT set aside attachments; SC directed ED to approach Delhi HC and CBI Court to keep release application pending. Conclusion not modified.
Notes to the results
- ED had provisionally attached properties, plant and machinery at Dagori and Siltara for Rs. 30758 Lakhs; AT set aside attachments; matter pending before Delhi High Court, next hearing 28th October 2026.
- During the quarter, on Put option by Maa Usha Urja Pvt Ltd, the Company redeemed 28,08,766 zero coupon NCDs of Rs. 100 each aggregating Rs. 2808 Lakhs from internal accruals.
- On 1st October 2026, the Company allotted 2,24,39,134 warrants at Rs. 89.13 each aggregating Rs 20000 Lakhs to M/s. Vibrant Enterprises on preferential basis, after receipt of 25% i.e. Rs. 5000 Lakhs.
- The Company jointly holds equity of associate Maa Usha Urja Pvt Ltd without beneficial interest; hence not required to prepare Consolidated Financial Statements.
Board meeting outcome, 16 October 2026
The Board approved the Company's Unaudited Financial Results for the quarter and half year ended 30 September 2026, along with the Limited Review Report of the statutory auditors, Chaturvedi & Shah LLP. The Company states that, as it jointly holds the equity share capital of Maa Usha Urja Private Limited, an associate, without any beneficial interest, it is not required to prepare consolidated financial statements; the figures below are therefore the Company's standalone numbers.
What the auditor's review says
- The review conclusion states that nothing has come to the auditors' attention that causes them to believe that the statement has not disclosed the information required to be disclosed, or that it contains any material misstatement. The conclusion is not modified.
- Emphasis of Matter: the Enforcement Directorate had, by two separate orders, provisionally attached certain properties, plant and machinery of the Company to the extent of Rs. 30,758 Lakhs, in a coal-block matter.
- The Company contested this, including by an appeal to the PMLA Appellate Tribunal, which allowed the appeals and set aside the provisional attachment orders.
- The Court of Special Judge, New Delhi (CBI Court) discharged the Company under the Prevention of Money Laundering Act, holding that there was no offence of money laundering in the absence of any charge of cheating in securing the allocation of the coal block.
- The ED challenged the CBI Court order in the Supreme Court. The Supreme Court disposed of the Special Leave Petition and directed the ED to approach the Delhi High Court; it also directed the CBI Court to keep the Company's application for release of the frozen assets pending until the revision petition is decided by the Delhi High Court.
Other decisions and disclosures
- Debentures: on exercise of a put option by Maa Usha Urja Private Limited, the Company redeemed 28.08.766 zero coupon, unlisted, unsecured, redeemable, non-convertible debentures aggregating to Rs. 2808 Lakhs, from its internal accruals.
- Warrants: on 1 October 2026, the Company allotted 2,24,39,134 warrants, each carrying a right to subscribe to one equity share, to M/s. Vibrant Enterprises by preferential allotment on a private placement basis, consequent to receipt of Rs. 5000 Lakhs. The warrants aggregate to Rs. 20000 Lakhs and may be exercised and converted in one or more tranches.
Results snapshot (standalone, ₹ in Lakhs)
- Revenue from operations, half year ended 30 September 2026: 430102
- Profit for the period, quarter ended 30 September 2026: 22981
Segments
The Company reports Steel (pellets, pig iron, sponge iron, billets and rolled products, including captive power plants) and Iron & Steel Castings (engineering, construction and automotive castings) as its reportable segments, and operates only in India.
What this means in simple terms
- The results and the auditor's review cover the July-September 2026 quarter and the April-September 2026 half year.
- The warrant allotment is a way of raising equity: the Company has received Rs. 5000 Lakhs against the warrants, which can be converted into equity shares on exercise.
- The debenture redemption of Rs. 2808 Lakhs was made from internal accruals, as stated in the notes.
- The Emphasis of Matter keeps an old legal case visible: the attachments were set aside, but the matter is to be decided by the Delhi High Court, and the Company's application on the frozen assets stays pending until then.
Also from Jayaswal Neco Industries
Press release on unaudited results for the quarter and half year ended 30 September 2026
16 Oct 2026
Board meeting on October 16, 2026 to consider and approve unaudited results for Q2/H1
8 Oct 2026
Jayaswal Neco Industries Ltd promoter buys 2.26% stake
6 Oct 2026
More numbers
- ED provisional attachment of Company properties (Emphasis of Matter)Rs. 30,758 Lakhs
- Warrants allotted on 1 October 20262,24,39,134
- Warrants aggregating toRs. 20000 Lakhs
- Amount received against warrants during the quarterRs. 5000 Lakhs
- Non-convertible debentures redeemed28.08.766
- Value of debentures redeemedRs. 2808 Lakhs
- Revenue from operations, half year ended 30.09.2026 (₹ in Lakhs)430102
- Total income, latest quarter220094 (₹ in Lakhs)
- Total income, year-ago quarter178476 (₹ in Lakhs)
- Total income, previous quarter211830 (₹ in Lakhs)
- Total comprehensive income, latest quarter23048 (₹ in Lakhs)
- Total comprehensive income, year-ago quarter10503 (₹ in Lakhs)
- Total comprehensive income, previous quarter19459 (₹ in Lakhs)
- Profit after tax, latest quarter22981 (₹ in Lakhs)
- Profit after tax, year-ago quarter10513 (₹ in Lakhs)
- Profit after tax, previous quarter19392 (₹ in Lakhs)
- Revenue from operations, latest quarter219446 (₹ in Lakhs)
- Revenue from operations, year-ago quarter178100 (₹ in Lakhs)
- Revenue from operations, previous quarter210656 (₹ in Lakhs)
- Profit before tax, latest quarter30745 (₹ in Lakhs)
- Profit before tax, year-ago quarter14271 (₹ in Lakhs)
- Profit before tax, previous quarter26497 (₹ in Lakhs)
- Basic EPS, latest quarter2.37*
- Basic EPS, year-ago quarter1.08*
- Basic EPS, previous quarter2.00*
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