JSW Steel Q1 Results: Consolidated net profit zooms 158% YoY to ₹2184 crore

JSW Steel Q1 Results: JSW Steel on Friday, July 18, said its consolidated net profit for the first quarter of the ongoing financial year 2025-26 (Q1 FY26) stood at ₹2,184 crore, a growth of 158% year-on-year compared to ₹845 crore in the year-ago quarter.

The revenue from operations of ₹43,147 crore was slightly higher compared to ₹42,943 in the year-ago quarter.

The operating EBITDA for the quarter reported by the company stood at ₹7,576 crore, with a 17.6% margin. The reported EBITDA increased by 37% year-on-year, which the company attributed to the rising volumes and lower coking coal costs.

The consolidated steel sales for the quarter stood at 6.69 million tonnes, higher by 9% year-on-year compared to 6.12 million tonnes in the same quarter last year. The institutional as well as retail sales volumes were higher by 12% YoY, highlighted the company.

Domestic steel sales volume at 5.96 million tonnes increased 12% year-on-year. Exports, however, fell 20% year-on-year and constituted 7% of sales from the Indian operations for Q1 FY26, hurt by weak international demand amid tariff uncertainties.

Consolidated crude steel production for the quarter stood at 7.26 million tonnes, higher by 14% year-on-year compared to 6.35 MT.

Capacity utilisation at the Indian operations was 87% during the quarter compared to 93% in the previous quarter of Q4 FY25, impacted by planned maintenance shutdowns.

The company's net gearing (net debt-to-equity) stood at 0.95 times at the end of the quarter, compared to 0.94 times at the end of Q4 FY25, and net debt to EBITDA was 3.20x, compared to 3.34x at Q4 FY25.

As of June 30, 2025, net debt was ₹79,850 crore, an increase from ₹3,287 crore as of March 31, 2025. This increase was mostly attributable to working capital investments, as per JSW Steel.

JSW Steel, regarding the Supreme Court Judgement in Bhushan Power and Steel, said that it has filed a Review Petition before the Supreme Court on June 25, 2025, in respect of the Supreme Court Judgement of May 2, 2025.

The Committee of Creditors and the Resolution Professional have also filed separate review petitions. The review petitions will be listed in the Supreme Court in due course.

The Supreme Court of India had cancelled JSW Steel's 2019 acquisition of Bhushan Power and Steel (BPSL), directing the liquidation of BPSL, and investors thereby are keenly watching the progress in the matter.

The Order of the Supreme Court dated 26th May 2025 in JSW’s Special Leave Petition directed the status quo in respect of proceedings before NCLT for implementation of the SC Judgment until the Review Petition is decided.

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