JSW Steel Ltd

Net profit of JSW Steel rose 158.46% to Rs 2184.00 crore in the quarter ended June 2025 as against Rs 845.00 crore during the previous quarter ended June 2024. Sales rose 0.29% to Rs 42460.00 crore in the quarter ended June 2025 as against Rs 42337.00 crore during the previous quarter ended June 2024. ParticularsQuarter EndedJun. 2025Jun. 2024% Var. Sales42460.0042337.00 0 OPM %17.6112.99 - PBDT5609.003589.00 56 PBT3072.001380.00 123 NP2184.00845.00 158 Powered by Capital Market - Live

Revenue from operation rose 0.47% year on year to Rs 43,147 crore in the quarter ended 30 June 2025. Profit before tax stood at Rs 3,072 crore in Q1 FY26, zoomed 122.60% as against Rs 1,380 crore in Q1 FY25. The company's operating EBITDA of Rs 7,576 crore, with an EBITDA margin of 17.6% during the quarter. The EBITDA increased by 37% YoY, driven primarily by higher volumes and lower coking coal costs. Consolidated crude steel production for the quarter stood at 7.26 million tonnes, registering a 14% year-on-year (YoY) increase. Capacity utilisation at the Indian operations was at 87% during the quarter, compared to 93% in Q4 FY25, primarily impacted by planned maintenance shutdowns. Steel sales for the quarter stood at 6.69 million tonnes, marking a 9% year-on-year (YoY) growth. Both institutional and retail sales volumes rose by 12% YoY. Domestic sales came in at 5.96 million tonnes, also up 12% YoY. However, exports declined 20% YoY, accounting for 7% of sales from the Indian operations in Q1 FY26. The company's net gearing (net debt-to-equity ratio) stood at 0.95x at the end of the quarter, compared to 0.94x at the end of Q4 FY25. Net debt-to-EBITDA improved to 3.20x, from 3.34x in the previous quarter. Net debt as of 30 June 2025 stood at Rs 79,850 crore, up by Rs 3,287 crore from 31 March 2025, primarily due to increased investment in working capital. Crude steel production at the Indian operations for the quarter stood at 7.02 million tonnes, registering a 15% year-on-year (YoY) increase. Steel sales during the same period were at 6.43 million tonnes, marking a 9% YoY growth. During the quarter, Bhushan Power & Steel (BPSL) wholly owned subsidiary reported crude steel production of 0.88 million tonnes and sales volume of 0.78 million tonnes. Revenue from operations stood at Rs 4,998 crore, while operating EBITDA came in at Rs 760 crore, up 13% year-on-year (YoY), primarily driven by higher volumes and lower coking coal costs. Profit after tax (PAT) for the quarter stood at Rs 331 crore. On its outlook, the company stated economy has shown resilience despite ongoing geopolitical tensions and tariff-related disruptions. However, the World Bank revised its global growth forecast downward to 2.9% in June 2025, from 3.2% in January, indicating a more cautious outlook. In the U.S., economic growth remains strong with inflation under control, but tariff uncertainty and a gradually easing labour market have made the Federal Reserve cautious on rate cuts. Weak consumer sentiment continues to weigh on the overall outlook. In China, the interim trade deal with the U.S. has helped stabilise economic sentiment. Consumption recovery, particularly in the auto sector, is being supported by government subsidies. While manufacturing and infrastructure investment are growing, the real estate sector remains subdued. However, capacity rationalisation across sectors is emerging as a long-term positive. In the Eurozone, inflation has neared target levels, allowing the ECB to initiate sharp rate cuts. Manufacturing is recovering, and increased medium-term spending on defence and infrastructure is expected to support further growth. India continues to stand out as a bright spot in the global economy, with the RBI maintaining its GDP growth forecast at 6.5% for FY26, unchanged from FY25. Inflation has remained benign, enabling the central bank to front-load rate cuts in the first half of 2025. The rural economy has been performing well and is likely to gain further momentum from favourable kharif sowing. Urban demand, particularly in residential real estate, is being bolstered by lower interest rates, adequate liquidity, and tax incentives announced in the recent budget. Government capital expenditure remains robust, with a budgeted outlay of Rs 11.2 trillion for FY26 and strong spending trends in April'May 2025. While domestic auto sales (excluding tractors) have been muted, production has remained resilient, driven by healthy exports. Overall, India's macroeconomic fundamentals remain solid, supported by low inflation, strong foreign exchange reserves, and continued fiscal consolidation, positioning the economy well for sustained growth despite global headwinds. JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India's leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital.Powered by Capital Market - Live

Steel production was lower by 5% QoQ primarily due to planned maintenance shutdowns of blast furnaces during the quarter. Indian operations produced 7.02 million tonnes of steel in Q1 FY26, up 15% YoY. The steel production of JSW Steel USA ' Ohio, however, increased by 4.34% YoY to 0.24 million tonnes during the period under review. Capacity utilisation for Q1 FY26 at Indian operations was at 87%. JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India's leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital. On a consolidated basis, net profit of JSW Steel rose 15.70% to Rs 1503 crore while gross sales declined 2.86% to Rs 44341 crore in Q4 March 2025 over Q4 March 2024. Shares of JSW Steel shed 0.23% to Rs 1,041.95 on the BSE. Powered by Capital Market - Live

JSW Steel reported consolidated Crude Steel production for the first quarter of FY 2025-26 at 7.26 million tonnes. The Crude Steel production was higher by 14% YoY. However, it was lower by 5% QoQ primarily due to planned maintenance shutdowns of blast furnaces during the quarter. Post these planned maintenance shutdowns, the blast furnaces have been restarted and operating at optimum capacity levels. Accordingly, the capacity utilisation at Indian Operations stood at 87% for Q1 FY26. The break-up of production is as below: (Mnt) Particulars  Q1 FY26 Q4 FY25 Q1 FY25 QoQ YoY  Indian Operations  7.02 7.40* 6.12 -5% 15% JSW Steel USA - Ohio  0.24 0.23 0.23     Consolidated Production  7.26 7.63 6.35 -5% 14%*Including Trial run production of 0.21 Mnt in Q4'25Powered by Capital Market - Live

JSW Steel will hold a meeting of the Board of Directors of the Company on 18 July 2025.Powered by Capital Market - Live

JSW Steel reported consolidated Crude Steel production for the month of May'25 at 22.73 Lakh tonnes. The May month Consolidated Crude Steel production was higher by 8% YoY and the year-to-date growth in Crude Steel production was 13%. The break-up of production is as below: (Lakh Tonnes) Particulars  May'25 May'24 % Change  Indian Operations  21.94 20.13 9% JSW Steel USA - Ohio  0.79 0.85   Consolidated Production  22.73 20.98 8% Capacity utilisation for May'25 at Indian Operations was at 80% primarily due to planned maintenance shutdown of one of the Blast Furnace at Dolvi. The Blast Furnace was restarted on 30 May'25.Powered by Capital Market - Live

Indian operations produced 21.94 lakh tonnes of steel in May 2025, up 9% YoY. The steel production of JSW Steel USA ' Ohio, however, declined by 7% YoY to 0.79 lakh tonnes during the period under review. Capacity utilisation for May 2025 at Indian Operations was at 80% primarily due to planned maintenance shutdown of one of the blast furnace at Dolvi. The blast furnace was restarted on 30 May 2025. The cumulative steel production for FY26 (till May 2025) was 47.56 lakh tonnes, up 13% YoY. JSW Steel is the flagship business of the diversified, US$ 24 billion JSW Group. Over the last three decades, the company has grown from a single manufacturing unit to become India's leading integrated steel company with consolidated crude steel capacity of 35.7 MTPA including 1.5 MTPA in US. On a consolidated basis, net profit of JSW Steel rose 15.70% to Rs 1503 crore while gross sales declined 2.86% to Rs 44341 crore in Q4 March 2025 over Q4 March 2024. The scrip rose 0.20% to currently trade at Rs 1006.50 on the BSE. Powered by Capital Market - Live

The domestic equity indices ended with major gains today, extending their rally for the second straight session in a row, supported by U.S. President Donald Trump initially issuing and then softening threats of increased tariffs on European imports over the weekend and by the Reserve Bank of India's decision to pay Rs 2.68 lakh crore as a dividend to the central government for FY25. Investors will closely monitor global trade developments and the upcoming Q4 results of the companies across various sectors. The Nifty settled above the 25,000 level. All the sectoral indices on the NSE were ended in green with auto, FMCG and metal shares advancing the most. As per provisional closing data, the barometer index, the S&P BSE Sensex, added 455.37 points or 0.56% to 82,176.45. The Nifty 50 index advanced 148 points or 0.60% to 25,001.15. In the past two trading sessions, the Sensex and Nifty jumped 1.51% and 1.59%, respectively. In the broader market, the S&P BSE Mid-Cap index added 0.56% and the S&P BSE Small-Cap index jumped 0.48%. The market breadth was positive. On the BSE, 2,297 shares rose and 1,773 shares fell. A total of 197 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, up 4.29% to 18.02. Economy: The Reserve Bank of India (RBI) on Friday handed the government a whopping Rs 2.68 lakh crore in surplus for FY25, 27% more than last year and even higher than what the Union Budget had estimated. Analysts suggest that this additional amount could support the government's objective of reducing the fiscal deficit to 4.4% for the current financial year. IPO Update: The initial public offer (IPO) of Schloss Bangalore received bids for 26,05,020 shares as against 4,66,10,169 shares on offer, according to stock exchange data at 15:33 IST on Monday (26 May 2025). The issue was subscribed 0.06 times. The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 413 and 435 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof. The initial public offer (IPO) of Aegis Vopak Terminals received bids for 1,74,30,273 shares as against 6,90,58,296 shares on offer, according to stock exchange data at 15:38 IST on Monday (26 May 2025). The issue was subscribed 0.25 times. The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof. Buzzing Index: The Nifty Auto index jumped 1.05% to 23,763.15. The index jumped 1.29% in the two consecutive trading sessions. Bajaj Auto (up 2.47%), Mahindra & Mahindra (up 2.18%), MRF (up 2.06%), Tata Motors (up 1.39%), Hero MotoCorp (up 1.23%), Exide Industries (up 1.15%), Samvardhana Motherson International (up 1.07%), Bosch (up 1.06%), Eicher Motors (up 0.49%) and Tube Investments of India (up 0.43%) advanced. Stocks in Spotlight: JSW Steel jumped 2.31% after the company reported a 15.7% year-on-year (YoY) increase in consolidated net profit to Rs 1,503 crore for the quarter ended 31 March 2025, compared to Rs 1,299 crore in the corresponding period last year. Revenue from operations declined 3.13% YoY to Rs 44,819 crore in Q4 FY25. NTPC shed 0.30%. The company has reported 23.4% increase in consolidated net profit to Rs 7,611.22 crore on a 4.6% rise in net sales to Rs 49,833.70 crore in Q4 FY25 as compared with Q4 FY24. Indigo Paints added 1.44% after the company's consolidated net profit rose 5.99% to Rs 56.90 crore in Q4 FY25 as against Rs 53.68 crore in Q4 FY24. GE Vernova T&D India hit an upper circuit of 10% after the company's standalone net profit surged 181.3% to Rs 186.50 crore on a 26.15% jump in revenue from operations to Rs 1,152.54 crore in Q4 FY25 over Q4 FY24. Ruchira Papers surged 8.56% after the company's standalone net profit surged 90.87% to Rs 18.40 crore on a 1.04% rise in revenue from operations to Rs 161.68 crore in Q4 FY25 over Q4 FY24. Narayana Hrudayalaya added 3.06% after the company reported a 3.41% rise in consolidated net profit to Rs 197.21 crore on an 18.39% increase in revenue from operations to Rs 1,475.44 crore in Q4 FY25 over Q4 FY24. Finolex Industries rose 0.89%. The company's standalone net profit surged 111.75% to Rs 150.26 crore while net sales rose 17.04% to Rs 1,171.81 crore in Q4 March 2025 over Q3 December 2024. Anupam Rasayan India rallied 5.60% after the company's consolidated net profit surged 44.19% to Rs 44.57 crore on a 24.72% jump in revenue from operations to Rs 500.16 crore in Q4 FY25 over Q4 FY24. Global Markets: The US Dow Jones index futures were currently up by 450 points, signaling a strong opening for US stocks today. Most European shares traded higher while Asian stocks ended mixed on Monday, as U.S. President Donald Trump issued and then softened threats of increased tariffs on European imports over the weekend. Japanese equities extended recent gains, while technology shares across the region, particularly those supplying Apple Inc., declined. Investor sentiment was weighed down by concerns that Trump may impose a 25% tariff on all iPhones and other smartphones manufactured overseas. The remarks added pressure to tech stocks in Asia, many of which are key suppliers in Apple's global production chain. Broader Asian markets also tracked the losses seen on Wall Street last Friday, when Trump initially announced plans to impose 50% tariffs on European Union goods. However, on Sunday, he stated that implementation would be delayed until July 9. Reports indicate that Japanese trade officials will visit Washington in early June for a fourth round of bilateral trade discussions. Despite ongoing talks, Japan has maintained its position that the United States should remove all existing tariffs on Japanese exports. U.S. market ended lower on Friday following the renewed trade rhetoric. The Dow Jones Industrial Average fell 0.61%, the S&P 500 dropped 0.67%, and the NASDAQ Composite declined 1%. In a post on Truth Social, Trump stated that he would recommend a 50% tariff on all EU imports starting June 1, citing a lack of progress in trade negotiations. He wrote, The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with, Trump said on Truth Social social media site. Our discussions with them are going nowhere! Earlier in the year, the administration had imposed a series of tariffs on EU goods, including a 25% duty on automobiles, steel, and aluminium in March, followed by a 20% tariff on additional products in April. These were later reduced temporarily to allow space for further negotiations. In response, the EU suspended planned retaliatory tariffs and proposed eliminating duties on all industrial goods traded between the two sides. Trump also announced that iPhones sold in the U.S. would need to be manufactured domestically or face a 25% import tariff. This marked the first time in 2025 that a specific company has been singled out in U.S. trade policy. Apple shares fell more than 3% in premarket trading, contributing to a broader decline in technology stocks.Powered by Capital Market - Live

According to the media reports, the court also put BPSL's liquidation on hold, giving JSW temporary breathing room. The earlier May 2 verdict had cancelled JSW's resolution plan citing delays under the Insolvency and Bankruptcy Code (IBC), even though JSW had already taken over BPSL's operations and invested heavily. Now, the apex court has reportedly instructed the National Company Law Tribunal (NCLT) to pause proceedings until it rules on the review plea, which JSW must file within 30 days. BPSL is a key asset for JSW, with its Odisha plant contributing 4.5 million tonnes per annum (MTPA) to JSW's total domestic capacity of 34.2 MTPA. JSW has also served demand notices to banks, seeking refunds on payments made under the now-invalidated deal. BPSL was one of the 12 major loan defaulters flagged by the RBI in 2017, with total dues exceeding Rs 47,200 crore. By the time insolvency proceedings began, it owed over Rs 45,000 crore. In 2019, JSW Steel acquired the company for Rs 19,700 crore after the NCLT approved its resolution plan. However, the Supreme Court later struck down the resolution plan, calling it illegal and a violation of the Insolvency and Bankruptcy Code (IBC). A bench led by Justices Bela M Trivedi and Satish Chandra Sharma slammed the conduct of key stakeholders, citing a flagrant violation of the IBC, and ordered BPSL's liquidation. Despite legal hurdles, mainly from ex-BPSL promoter Sanjay Singhal, JSW went ahead with the acquisition and revived the plant. With the review petition now allowed, the company may still reclaim the asset or at least recover its investment. JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company. On a consolidated basis, net profit of JSW Steel rose 15.70% to Rs 1503 crore while gross sales declined 2.86% to Rs 44341 crore in Q4 March 2025 over Q4 March 2024. Powered by Capital Market - Live

The growth in profit came despite a 3.13% year-on-year decline in revenue from operations, which stood at Rs 44,819 crore during the quarter. Profit before exceptional items and tax stood at Rs 1,774 crore, down from Rs 2,012 crore in the year-ago quarter. The company reported exceptional items of Rs 44 crore for the period under review. EBITDA stood at Rs 6,378 crore in Q4 FY25, registering a growth of 4.15%, compared with Rs 6,124 crore in Q4 FY24. The EBITDA margin improved to 14.2%, aided by increased sales volumes and lower coking coal costs. Consolidated crude steel production for the quarter stood at 7.63 million tonnes, higher by 12% YoY and 9% QoQ. Capacity utilization at the Indian operations was 93% during the quarter. Steel sales for the quarter stood at 7.49 million tons, higher by 11% YoY and 12% QoQ. Domestic sales were 6.72 million tons, up 30% YoY and 12% QoQ. The institutional sales volumes increased 33% YoY and 11% QoQ, while retail sales increased 25% YoY and 15% QoQ. Exports were stable QoQ at 8% of sales from the Indian operations. For the full fiscal year FY25, the company reported consolidated crude steel production of 27.79 million tonnes and sales of 26.45 million tonnes, achieving the revised guidance issued in Q3 FY25. Net debt stood at Rs 76,563 crore as of March 31, 2025, down Rs 4,358 crore from December 31, 2024, driven by strong cash flows, working capital release, and disciplined capital expenditure. Net gearing improved to 0.94x from 1.00x in the previous quarter. Subsidiary Bhushan Power and Steel (BPSL) reported crude steel production of 0.98 million tonnes and sales of 0.94 million tonnes during the quarter. Revenue from operations came in at Rs 5,635 crore, while EBITDA rose 5% QoQ to Rs 570 crore, supported by higher volumes and reduced input costs. BPSL posted a net profit of Rs 42 crore for the quarter. Meanwhile, the board of directors recommended a dividend of Rs 2.80 per fully paid-up equity share of Rs 1 each for the year ended 31 March 2025. The record date for the dividend has been fixed as 8 July 2025. Additionally, the board approved the raising of long-term funds of up to Rs 14,000 crore. This includes Rs 7,000 crore via non-convertible debentures (NCDs) and another Rs 7,000 crore through equity shares or convertible instruments. Subject to regulatory approvals and market conditions, the board also cleared the issuance of secured/unsecured, redeemable NCDs not exceeding Rs 5,000 crore. JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company. Shares of JSW Steel shed 0.61% to Rs 1,002.30 on the BSE.Powered by Capital Market - Live