JSW Steel Ltd on Friday released its fiscal first quarter earnings report with profit at Rs 2,209 crore, surpassing estimates. The company reported a surge of 154.79 per cent in comparison to Rs 867 crore recorded during the corresponding quarter of FY25. The performance was buoyed by robust domestic demand and lower input costs. JSW Steel said that the domestic demand continued to be good, aided by healthy capex by the government in Q1.
It posted revenue from operations at Rs 43,147 crore, marginally higher than Rs 42,943 crore reported during the corresponding quarter of previous financial year. While revenue growth remained steady, JSW Steel said, profitability saw a significant boost, aided by higher volumes and a sharp drop in coking coal costs.
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The company EBITDA stood at Rs 7,576 crore and EBITDA margin was recorded at 17.6 per cent during the quarter, driven by higher volumes and lower coking coal costs.
According to a CNBC TV18 poll, JSW Steel was expected to record Q1 profit at Rs 1,859 crore and revenue was estimated at Rs 42,962 crore.
JSW Steel Q1: Consolidated production and sales update
The company’s consolidated crude steel production for the quarter came in at 7.26 million tonnes, up 14 per cent YoY. Saleable steel sales stood at 6.69 million tonnes, up 9 per cent YoY. Domestic sales, which formed the bulk of the volume, rose 12 per cent YoY to 5.96 million tonnes. However, export volumes declined by 20 per cent YoY and accounted for just 7 per cent of the Indian operations’ sales for Q1FY26.
Capacity utilization at the Indian operations, it said, stood at 87 per cent in Q1FY26, lower than 93 per cent in Q4FY25, due to planned maintenance shutdowns.
JSW Steel Q1: Update on India operations
JSW Steel said that crude steel production at the Indian operations for the quarter was at 7.02 million tonnes, up 15 per cent YoY. Steel sales for the quarter, meanwhile, stood at 6.43 million tonnes, higher by 9 per cent YoY. The Indian operations posted revenue from operations of Rs 40,510 crore and profit came in at Rs 2,517 crore for the period in review,
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