JSW Steel reported a significant increase in consolidated net profit for the April–June quarter of FY26, reaching ₹2,209 crore—more than double the ₹867 crore recorded during the same period last year. The jump in earnings was primarily supported by reduced expenses and improved operational efficiency.
In Q1 FY25, the company reported a slight increase in total income, which rose by 0.9% to ₹43,497 crore from ₹43,107 crore in the same quarter last year. Total expenses were reduced to ₹40,325 crore, compared to ₹41,715 crore a year ago. Operating EBITDA stood at ₹7,576 crore, reflecting a 37% year-on-year growth and a margin of 17.6%, primarily supported by lower coking coal prices and improved sales volumes. The profit after tax for the quarter came in at ₹2,209 crore.
On the operational front, consolidated crude steel production grew 14% year-on-year to reach 7.26 million tonnes, while steel sales increased by 9% to 6.69 million tonnes. Domestic sales grew by 12% to 5.96 million tonnes, with both institutional and retail segments recording similar growth. However, exports declined by 20% and accounted for just 7% of total sales from Indian operations. Capacity utilisation at Indian plants dipped to 87%, down from 93% in the previous quarter due to scheduled maintenance activities.
Focusing on Indian operations, crude steel production rose 15% year-on-year to 7.02 million tonnes, and steel sales climbed 9% to 6.43 million tonnes. The Indian business generated revenue of ₹40,510 crore during the quarter. EBITDA from domestic operations stood at ₹7,496 crore, marking a 38% increase and delivering a robust margin of 18.5%. These figures underscore the strong performance of the Indian segment, which continued to be a key driver of overall growth.
The profit after tax from Indian operations surged 118% year-on-year to ₹2,517 crore, highlighting significant operational efficiency and profitability improvements. The impressive financial performance, especially in the domestic market, reinforces the company’s strategic focus on optimizing production, enhancing sales volumes, and managing costs effectively amid a dynamic market environment.
As of June 30, 2025, net debt stood at ₹79,850 crore, up ₹3,287 crore from March 2025, primarily due to higher working capital requirements. In a separate development, JSW Steel confirmed it had filed a review petition with the Supreme Court on June 25, 2025, following the court’s May 2 judgment that nullified its resolution plan for Bhushan Steel and Power Ltd (BSPL), which JSW acquired in 2019 through insolvency proceedings.
The Supreme Court had declared the resolution plan invalid, citing non-compliance with the Insolvency and Bankruptcy Code (IBC). The company stated that both the Committee of Creditors and the Resolution Professional have also filed review petitions. Proceedings before the National Company Law Tribunal (NCLT) have been put on hold until the apex court decides on the review requests.
“We, along with our legal team, believe we have strong grounds to pursue the review,” JSW Steel said in an official statement. JSW Steel Limited, headquartered in Mumbai, is a leading Indian multinational steel producer and the flagship company of the JSW Group. Established in 1982, the company has grown to become one of India’s largest private sector steel manufacturers, with a significant presence in both domestic and international markets.
JSW Steel operates state-of-the-art manufacturing facilities across India, including plants in Vijayanagar (Karnataka), Dolvi and Tarapur (Maharashtra), Salem (Tamil Nadu), and Vasind (Maharashtra). The Vijayanagar plant is notable for being the largest single-location steel-producing facility in India, with a capacity of 17.5 million tonnes per annum (MTPA) . The company’s product portfolio encompasses a wide range of steel products, including hot-rolled, cold-rolled, galvanized, and color-coated steel, catering to various sectors such as automotive, construction, infrastructure, and appliances.
JSW Steel has also expanded its global footprint with operations in the United States, where it operates facilities in Mingo Junction, Ohio, and Baytown, Texas . These international ventures align with the company’s strategy to enhance its global competitiveness and meet the growing demand for steel products worldwide.
Committed to sustainability and innovation, JSW Steel has implemented various initiatives to reduce its environmental impact and improve operational efficiency. The company has received several accolades for its efforts, including recognition as a Steel Sustainability Champion by the World Steel Association for multiple consecutive years . Under the leadership of Chairman Sajjan Jindal, JSW Steel continues to focus on technological advancements and strategic partnerships to drive growth and contribute to the development of the steel industry both in India and globally.
