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JSW Steel Announces Mozambique Coking Coal Project with 850 MT Reserves
JSW Steel has launched the Minas de Revuboè (MDR) coking coal project in Mozambique, securing access to 850 million tonnes of total reserves. The project is expected to yield 250 million tonnes of usable coking coal, with the first phase aiming for 2.4 million tonnes per annum (mtpa) production within 2.5 years. This strategic backward integration is designed to provide long-term supply assurance and hedge against the high volatility of global coking coal prices. The move supports JSW Steel's broader goal of reaching 50 mtpa steel capacity in India by 2030.
Key Highlights
MDR project holds 850 mt of reserves with a potential yield of 250 mt of usable coking coal.
Phase 1 development expected to produce 2.4 mtpa of prime hard coking coal within 2.5 years.
Strategically located 450 km from Beira Port and 900 km from Nacala Port for efficient export to India.
Project aims to mitigate cost volatility for coking coal, one of the most expensive inputs in steelmaking.
High-grade coal profile will assist in reducing carbon emissions intensity in line with sustainability goals.
💼 Action for Investors
This is a significant strategic milestone that strengthens JSW Steel's raw material security and long-term margin stability. Investors should view this as a positive development for cost-optimization, though the full benefits will materialize only after the 2.5-year development phase.
JSW Steel Feb 2026 Production at 23.66 Lakh Tonnes; Adjusted Indian Volumes Up 8%
JSW Steel reported a 2% YoY decline in consolidated crude steel production for February 2026, totaling 23.66 lakh tonnes. The dip is primarily due to the ongoing planned shutdown of Blast Furnace 3 (BF3) at the Vijayanagar plant for capacity upgradation. Excluding the impact of this shutdown, Indian operations grew by approximately 8% YoY, driven by the ramp-up of JVML operations. US operations also saw a 20% decline due to weather conditions and post-upgrade ramp-ups.
Key Highlights
Consolidated crude steel production reached 23.66 lakh tonnes in February 2026, down 2% YoY.
Indian operations production stood at 23.06 lakh tonnes, a 1% YoY decline due to the BF3 shutdown.
Excluding the BF3 shutdown, Indian volumes grew by approximately 8% YoY.
Capacity utilization for Indian operations (excluding BF3) remained high at 97%.
JSW Steel USA Ohio production fell 20% YoY to 0.60 lakh tonnes due to winter storms and caster upgrades.
💼 Action for Investors
Investors should treat the production decline as a temporary phase linked to planned capacity upgrades at the Vijayanagar facility. The underlying 8% adjusted growth in India and high utilization rates indicate strong operational health.
JSW Steel Jan 2026 Consolidated Crude Steel Production Down 2% YoY at 24.75 Lakh Tonnes
JSW Steel reported a 2% year-on-year decline in consolidated crude steel production for January 2026, totaling 24.75 lakh tonnes. While Indian operations remained stable with marginal growth to 24.58 lakh tonnes, the overall figure was dragged down by a 74% drop in US Ohio production due to scheduled caster upgrades. Domestic performance was also impacted by the ongoing shutdown of Blast Furnace 3 at Vijayanagar for capacity expansion, which is slated for completion by the end of Q4 FY26. Despite these temporary disruptions, Indian capacity utilization remains high at 93% excluding the affected furnace.
Key Highlights
Consolidated crude steel production fell 2% YoY to 24.75 lakh tonnes in January 2026.
Indian operations production was marginally higher at 24.58 lakh tonnes compared to 24.52 lakh tonnes in Jan 2025.
USA Ohio operations saw a significant 74% YoY drop to 0.17 lakh tonnes due to scheduled outages for caster upgrades.
Capacity utilization in India stood at 93% excluding the BF3 capacity and 85% including it.
The Vijayanagar BF3 upgrade is expected to be commissioned by the end of Q4 FY26, which will boost future capacity.
💼 Action for Investors
Investors should view this as a temporary dip caused by planned capacity upgrades at both Indian and US facilities. Monitor the timely commissioning of the Vijayanagar BF3 in Q4 FY26, as it will be a key driver for volume growth in the upcoming fiscal year.
JSW Steel Shareholders Approve JV with JFE Steel for Bhushan Power & Steel Assets
JSW Steel shareholders have approved key resolutions via postal ballot to facilitate a strategic joint venture with Japan's JFE Steel Corporation. The restructuring involves transferring the steel business of Bhushan Power & Steel Limited (BPSL) to JSW Sambalpur Steel Limited through a slump sale. Furthermore, the shareholding in JSW Kalinga Steel will be reduced to 50% to enable joint control with JFE Steel. These moves are aimed at optimizing the BPSL acquisition and leveraging international technical expertise.
Key Highlights
Shareholders approved material related party transactions for a JV with JFE Steel Corporation, Japan.
Approved the transfer of Bhushan Power & Steel Limited's steel business to JSW Sambalpur Steel via slump sale.
Authorized the reduction of Piombino Steel's stake in JSW Kalinga Steel to 50% for joint control with JFE.
Resolutions were passed with the requisite majority following the Postal Ballot notice dated December 3, 2025.
💼 Action for Investors
Investors should view this as a positive strategic development that brings in a global partner for the BPSL assets. Monitor the execution of the JV and its impact on the company's consolidated debt and operational margins.
JSW Steel Secures Global #1 Rank in S&P CSA Score with Record 88 Points
JSW Steel has achieved the highest score in the global steel sector in the 2025 S&P Corporate Sustainability Assessment (CSA) with a record score of 88. This performance represents a 7% year-on-year improvement and places the company in the 100th percentile of its industry. Such high ESG rankings are critical for inclusion in major global indices like the DJSI and attracting institutional capital from ESG-focused funds. The company remains on track to expand its consolidated capacity to 43.4 MTPA over the next three years while targeting a 42% reduction in CO2 emissions by 2030.
Key Highlights
Achieved an industry-leading S&P CSA score of 88, ranking 1st globally in the steel sector.
Reported a 7% year-on-year improvement in sustainability metrics, reaching the 100th percentile.
Consolidated crude steel capacity currently at 35.7 MTPA, with a roadmap to reach 43.4 MTPA in 3 years.
Committed to 100% renewable energy for operations and a 42% reduction in CO2 emissions by 2030.
Maintains 4 operations with ResponsibleSteel certification, covering over 80% of domestic production.
💼 Action for Investors
Investors should recognize this as a significant milestone that enhances the company's appeal to global institutional and ESG-mandated investors. This leadership in sustainability reduces long-term regulatory and transition risks as the company scales capacity to 43.4 MTPA.
JSW Steel Q3 FY26: Net Profit at ₹2,410 Cr, Record Sales of 7.64mt, and ₹37,000 Cr Deleveraging Plan
JSW Steel reported a solid Q3 FY26 performance with a consolidated net profit of ₹2,410 crore and revenue of ₹45,991 crore. The company achieved its highest-ever consolidated steel sales of 7.64 million tonnes, representing a 14% YoY growth. A major strategic highlight is the 50:50 JV with JFE Steel for BPSL, which is expected to result in a massive deleveraging of approximately ₹37,000 crore. Furthermore, the company is aggressively pursuing its 50mtpa capacity target by FY31, supported by the newly announced 5mtpa Utkal Steel project.
Key Highlights
Highest ever consolidated steel sales of 7.64mt, up 14% YoY, with domestic sales growing 10% YoY.
Reported EBITDA of ₹6,496 crore and Net Profit of ₹2,410 crore for the quarter.
Strategic 50:50 JV with JFE Steel for BPSL to bring in ₹15,750 crore equity and deleverage ₹37,000 crore.
Announced Phase-I of 5mtpa integrated steel plant at JSW Utkal Steel, Odisha, with a capex of ₹31,600 crore.
Maintained a healthy balance sheet with Net Debt to EBITDA at 2.91x and Net Debt to Equity at 0.92x.
💼 Action for Investors
Investors should focus on the significant deleveraging impact of the BPSL JV, which strengthens the balance sheet for future expansions. The record sales volumes and clear roadmap to 50mtpa capacity make it a strong long-term play in the steel sector.
JSW Steel Q3 Standalone Net Profit Falls 41% YoY to ₹757 Cr; Margins Contract to 12.83%
JSW Steel reported a weak set of standalone results for Q3 FY26, with net profit declining 41% YoY to ₹757 crore. Revenue remained stagnant at ₹32,127 crore, while operating EBITDA margins compressed to 12.83% from 13.83% in the previous year. The results were further weighed down by an exceptional impairment provision of ₹338 crore related to loans for overseas subsidiaries in the US and Mauritius. Despite the operational headwinds, the company is progressing with the amalgamation of several subsidiaries and recently completed the ₹681 crore acquisition of Saffron Resources.
Key Highlights
Standalone Net Profit dropped 41% YoY to ₹757 crore from ₹1,286 crore in Q3 FY25.
Operating EBITDA margin contracted to 12.83% compared to 14.93% in the preceding quarter.
Exceptional loss of ₹338 crore recognized due to impairment provisions for US and Mauritius subsidiaries.
Revenue from operations stood at ₹32,127 crore, a marginal 1% increase YoY but a 2.2% decline QoQ.
Debt-to-Equity ratio improved slightly to 0.77 as of December 31, 2025, compared to 0.83 a year ago.
💼 Action for Investors
Investors should monitor the impact of rising raw material costs and global steel price volatility on margins. The ongoing consolidation of subsidiaries and the performance of overseas units remain key watch areas for long-term value realization.
JSW Steel Q3 Standalone Net Profit Drops 41% YoY to ₹757 Crore; Margins Contract to 12.83%
JSW Steel reported a standalone net profit of ₹757 crore for the quarter ended December 31, 2025, marking a significant 41% decline from ₹1,286 crore in the same period last year. While revenue from operations remained relatively stable at ₹32,127 crore, the bottom line was severely impacted by an exceptional loss of ₹338 crore related to bid security forfeiture for coal blocks. Operating EBITDA margins also faced pressure, contracting to 12.83% from 14.93% in the preceding quarter. Despite the profit dip, the company maintained a healthy debt-to-equity ratio of 0.77.
Key Highlights
Standalone Net Profit fell 41.1% YoY to ₹757 crore, significantly lower than the ₹1,493 crore recorded in Q2 FY26.
Operating EBITDA Margin contracted to 12.83% from 13.83% YoY and 14.93% QoQ.
Total Revenue from operations stood at ₹32,127 crore, a marginal 1% YoY growth but a 2.2% sequential decline.
Exceptional item of ₹338 crore recorded due to bid security forfeiture and related expenditure for Banai and Bhalumuda Coal blocks.
Debt-to-Equity ratio improved to 0.77 compared to 0.83 in the year-ago period.
💼 Action for Investors
Investors should exercise caution as margin compression and exceptional losses have weighed heavily on quarterly performance. Monitor the company's progress on subsidiary amalgamations and global steel price trends for signs of recovery.
JSW Steel Receives CCI Approval for 50:50 JV with JFE Steel for BPSL Business
JSW Steel has received formal approval from the Competition Commission of India (CCI) for its 50:50 strategic joint venture with Japan's JFE Steel Corporation. The transaction involves the transfer of Bhushan Power and Steel Limited's (BPSL) steel business to JSW Sambalpur Steel Limited via a slump sale on a going concern basis. This regulatory clearance follows the initial board approval granted on December 3, 2025, and marks a critical step in the restructuring of the BPSL asset. The partnership is expected to enhance operational efficiencies and technical capabilities for JSW's steel portfolio.
Key Highlights
CCI approved the transaction between JSW Steel and JFE Steel Corporation on January 20, 2026.
The deal involves a 50:50 joint venture partnership for the business undertaking of Bhushan Power and Steel Limited (BPSL).
BPSL's steel business will be transferred to JSW Sambalpur Steel Limited via a slump sale on a going concern basis.
The move follows the strategic roadmap initially approved by the JSW Steel Board on December 3, 2025.
💼 Action for Investors
Investors should view this regulatory clearance as a significant milestone that de-risks the BPSL restructuring process. Monitor for further updates on the financial closure and the impact of JFE's technical collaboration on JSW's long-term margins.
JSW Steel Q3 FY26 Crude Steel Production Rises 6% YoY to 7.48 Million Tonnes
JSW Steel reported a 6% YoY increase in consolidated crude steel production for Q3 FY26, totaling 7.48 million tonnes. While production grew annually, it declined 5% sequentially due to a planned shutdown of Blast Furnace 3 at Vijayanagar for capacity upgradation. Indian operations maintained a high capacity utilization of 93% excluding the offline furnace. For the first nine months of FY26, consolidated production is up 12% YoY at 22.65 million tonnes, reflecting strong operational momentum.
Key Highlights
Consolidated crude steel production for Q3 FY26 stood at 7.48 million tonnes, up 6% YoY.
Indian operations produced 7.28 million tonnes, a 7% YoY increase but a 5% QoQ decrease.
9M FY26 consolidated production grew 12% YoY to 22.65 million tonnes.
Capacity utilization in India was 85% overall, but 93% excluding the furnace under upgradation.
Upgraded Blast Furnace 3 at Vijayanagar is expected to be commissioned by the end of Q4 FY26.
💼 Action for Investors
The QoQ production dip is a temporary result of strategic capacity upgradation at the flagship Vijayanagar plant. Investors should focus on the 12% 9M growth and the expected volume boost once the upgraded furnace resumes in Q4 FY26.
Fitch Places JSW Steel's 'BB' Rating on Rating Watch Positive; Expects INR 324B Cash Inflow
Fitch Ratings has placed JSW Steel’s ‘BB’ rating on Rating Watch Positive following a proposed 50:50 joint venture with JFE Steel. This transaction is expected to bring in INR 324 billion in cash over the next six months, significantly aiding deleveraging efforts. Fitch projects the company's EBITDA net leverage to drop from 4.0x in FY25 to 2.1x by FY27. Additionally, standalone EBITDA margins are forecasted to improve to INR 10,750 per tonne by FY27 due to volume growth and cost efficiencies.
Key Highlights
Fitch placed 'BB' Long-Term IDR on Rating Watch Positive due to a strategic JV with JFE Steel.
JSW Steel to receive INR 324 billion in cash proceeds, reducing net leverage by 0.5x-0.7x.
EBITDA net leverage is projected to improve significantly to 2.1x in FY27 from 4.0x in FY25.
Standalone EBITDA margins expected to rise to INR 10,750/t in FY27 from INR 8,400/t in FY25.
Annual capex planned at INR 200-210 billion for FY26-FY28 to support capacity expansion.
💼 Action for Investors
The potential rating upgrade and massive cash inflow for deleveraging are strong positives for the stock's credit profile. Investors should monitor the timely completion of the JV and regulatory approvals from the CCI.
JSW Steel to Transfer BPSL Steel Business for ₹24,483 Cr in JV with JFE Steel
JSW Steel has initiated a postal ballot to seek shareholder approval for a major restructuring of its subsidiary Bhushan Power & Steel Limited (BPSL). The company plans to transfer BPSL's steel business to JSW Sambalpur Steel via a slump sale for ₹24,483 crore. Additionally, Japan's JFE Steel will enter a Joint Venture by investing ₹7,875 crore to eventually hold a 50% stake in the holding entity, JSW Kalinga. The arrangement includes significant inter-corporate investments and a ₹9,500 crore debt facility supported by a Letter of Comfort from JSW Steel and JFE.
Key Highlights
Slump sale of BPSL's steel business to JSW Sambalpur for a cash consideration of ₹24,483 crore.
JFE Steel to invest ₹7,875 crore for an eventual 50% stake in the JV entity JSW Kalinga Steel.
Issuance of a joint Letter of Comfort by JSW Steel and JFE for debt amounting to ₹9,500 crore.
Inter-corporate investments including ₹8,000 crore in convertible debentures by Piombino Steel into JSW Kalinga.
E-voting for shareholders is scheduled from January 6, 2026, to February 4, 2026.
💼 Action for Investors
Investors should look favorably on this strategic partnership with JFE Steel as it de-risks the BPSL asset and brings in significant capital. Monitor the successful execution of the slump sale and the final regulatory approvals from the Competition Commission of India.
JSW Steel Assigned 'A-' Rating with Stable Outlook by Japan Credit Rating Agency
Japan Credit Rating Agency (JCR) has assigned an 'A-' rating with a Stable outlook to JSW Steel for both foreign and local currency issuer ratings, which is notably higher than India's sovereign rating of 'BBB+'. The rating reflects JSW's strong cost competitiveness, 17% domestic market share, and robust recovery in H1 FY2026 where net income surged 203% to INR 38.6 billion. JCR highlighted the company's disciplined financial management, noting that the equity ratio improved to 33% as of FY2025. This international recognition validates the company's ability to maintain a sound financial balance despite its massive expansion goal of 51.5 Mtpa by FY2031.
Key Highlights
Assigned 'A-' Foreign and Local Currency Long-Term Issuer Ratings with a Stable outlook by JCR.
Rating stands above India's sovereign rating of 'BBB+', indicating superior credit strength.
H1 FY2026 revenue rose 6.8% to INR 883.0 billion, with net income jumping 203% to INR 38.6 billion.
Equity ratio improved to 33.0% as of FY2025, demonstrating a strengthening financial structure.
Company targeting significant capacity expansion to 51.5 Mtpa by FY2031.
💼 Action for Investors
Investors should take this as a strong endorsement of JSW Steel's creditworthiness, which could potentially lower its cost of capital in international markets. The rating above the sovereign level makes it a standout performer in the metal sector for long-term portfolios.
JSW Steel Assigned 'A-' Issuer Rating with Stable Outlook by Japan's R&I Agency
Rating and Investment Information, Inc. (R&I) of Japan has assigned a new 'A-' issuer rating to JSW Steel with a stable outlook. Notably, this rating is higher than India's sovereign foreign currency rating of 'BBB+', reflecting the company's dominant market position and technological edge. The agency highlighted JSW's status as India's largest crude steel producer and its strategic 15% stake partnership with Japan's JFE Holdings. Despite significant ongoing capital expenditures, the rating agency expects JSW's financial profile to remain resilient due to robust domestic demand and stable earning capacity.
Key Highlights
Assigned 'A-' Issuer Rating with a Stable Outlook by Japanese credit agency R&I.
The rating stands higher than India's sovereign foreign currency issuer rating of 'BBB+'.
JFE Holdings, Inc. (Japan) maintains a strategic 15% stake and provides technological cooperation.
Recognized as the largest steel manufacturer in India by crude steel production volume.
Financial balance remains adequate despite proactive investments due to strong domestic demand.
💼 Action for Investors
This international rating upgrade/assignment validates JSW Steel's operational strength and could lead to lower borrowing costs in global markets. Investors should consider this a positive signal for the company's long-term creditworthiness and market leadership.
JSW Steel's 'AA' Rating Placed on Positive Watch Following Strategic JV and Debt Reduction
India Ratings has placed JSW Steel’s ‘AA’ rating on ‘Rating Watch with Positive Implications’ following a strategic JV announcement with Japan's JFE Steel. The deal involves transferring BPSL's steel business for INR 244.83 billion, resulting in a total cash inflow of approximately INR 320 billion for JSW Steel. This transaction is expected to reduce the company's net debt by approximately INR 370 billion through cash proceeds and deconsolidation. As a result, consolidated net leverage is projected to decline significantly to 2x-2.5x by FY28 from the current 3.6x.
Key Highlights
India Ratings revised the outlook on 'AA' rating to 'Rating Watch with Positive Implications'.
Strategic JV with JFE Steel involves an equity investment of INR 157.50 billion for a 50% stake.
Total net debt reduction of ~INR 370 billion expected, significantly improving the credit profile.
Consolidated net leverage (including acceptances) likely to fall to 2x-2.5x range by FY27-FY28.
Transaction expected to generate cash inflows of ~INR 320 billion for JSW Steel.
💼 Action for Investors
The substantial deleveraging and positive rating watch are strong indicators of improving financial health. Investors should maintain a positive outlook while monitoring the 6-9 month timeline for regulatory approvals.
ICRA places JSW Steel's 'AA' rating on watch with positive implications
ICRA has placed JSW Steel's long-term rating of 'AA' on 'Rating Watch with Positive Implications' following the announcement of a strategic joint venture with JFE Steel Corporation. This JV involves the transfer of Bhushan Power and Steel Limited's steel business to JSW Kalinga Steel Limited (JKSL) for ₹24,483 crore. JFE will acquire a 50% stake in the JV through an equity infusion of ₹15,750 crore. ICRA anticipates deleveraging of JSW Steel's balance sheet by approximately ₹37,000 crore due to the transaction.
Key Highlights
ICRA has placed JSW Steel's 'AA' rating on 'Rating Watch with Positive Implications'.
JFE will acquire a 50% stake through a total equity infusion of ₹15,750 crore.
The steel business undertaking of Bhushan Power and Steel Limited (BPSL) will be transferred for a cash consideration of ₹24,483 crore.
Deleveraging of JSW Steel's balance sheet by approximately ₹37,000 crore is expected.
Net debt/OPBDITA is expected to improve to around 2.1‐2.2 times over FY2027 and FY2028.
💼 Action for Investors
Investors should monitor the progress of the joint venture with JFE Steel and the receipt of regulatory approvals, as the resolution of the rating watch is contingent upon the successful completion of the transaction. The expected deleveraging and improved financial risk profile are positive indicators for long-term investors.
JSW Steel Nov 2025 Consolidated Crude Steel Production Up 5% YoY to 24.39 Lakh Tonnes
JSW Steel reported a 5% year-on-year growth in consolidated crude steel production for November 2025, reaching 24.39 lakh tonnes. Indian operations contributed 23.61 lakh tonnes, while US operations added 0.78 lakh tonnes. Capacity utilization in India was 84%, impacted by a planned shutdown of Blast Furnace 3 (BF3) at Vijayanagar for a capacity upgrade from 3 to 4.5 MTPA. Excluding this specific furnace, utilization remained strong at approximately 93%, indicating robust operational efficiency.
Key Highlights
Consolidated crude steel production grew 5% YoY to 24.39 lakh tonnes in November 2025.
Indian operations production rose 5% YoY to 23.61 lakh tonnes compared to 22.53 lakh tonnes in Nov 2024.
Capacity utilization excluding the shut-down Vijayanagar BF3 was high at approximately 93%.
Vijayanagar BF3 is undergoing an upgrade to increase capacity from 3 MTPA to 4.5 MTPA.
JSW Steel USA – Ohio operations contributed 0.78 lakh tonnes to the consolidated total.
💼 Action for Investors
Investors should view the 5% growth positively as it demonstrates resilience despite a major furnace shutdown for capacity expansion. Monitor the timeline for the Vijayanagar BF3 upgrade completion, as it will be a key driver for volume growth in the next fiscal year.
JSW Steel Completes 100% Acquisition of Saffron Resources Private Limited
JSW Steel Limited has successfully completed the acquisition of a 100% equity stake in Saffron Resources Private Limited as of December 3, 2025. This transaction follows the initial announcement made on July 18, 2025, and was executed via a Share Purchase Agreement. Consequently, Saffron Resources has now become a wholly-owned subsidiary of JSW Steel. This move is part of the company's ongoing strategy to consolidate its resource base and expand its corporate footprint.
Key Highlights
Completed the acquisition of 100% equity interest in Saffron Resources Private Limited on December 3, 2025.
Saffron Resources has officially become a wholly-owned subsidiary of JSW Steel Limited.
The acquisition was finalized in accordance with the Share Purchase Agreement and its subsequent amendments.
This follows the initial regulatory disclosure regarding the acquisition made on July 18, 2025.
💼 Action for Investors
Investors should view this as a positive step in JSW Steel's inorganic growth strategy. Monitor future quarterly filings for details on how Saffron Resources' assets contribute to JSW Steel's operational efficiency or raw material security.
JSW Steel announces JV with JFE Steel, Japan for ₹31,500 crore
JSW Steel has entered a strategic joint venture with JFE Steel Corporation, Japan, involving the slump sale of Bhushan Power and Steel Limited's (BPSL) steel business undertaking. The equity value of the deal is INR 31,500 crore. JFE will invest INR 15,750 crore in two tranches for a 50% stake in the joint venture. JSW acquired BPSL in 2021 and increased its capacity to 4.5 mtpa.
Key Highlights
JSW Steel's JV with JFE Steel values BPSL's steel business at ₹31,500 crore.
JFE Steel will invest ₹15,750 crore for a 50% stake in the joint venture.
JSW Steel aims to achieve a steel-making capacity of 50mtpa in India by FY 2031.
BPSL's capacity has increased from 2.75 mtpa to 4.5 mtpa under JSW Steel.
JSW Steel targets a 42% reduction in CO2 emissions from steel-making operations by 2030.
💼 Action for Investors
This strategic partnership is expected to enhance JSW Steel's growth and technological capabilities. Investors should monitor the progress of the joint venture and its impact on JSW Steel's financials and expansion plans.
JSW Steel to merge Piombino Steel Limited
JSW Steel Limited has announced the merger of Piombino Steel Limited (PSL) with JSW Steel. JSW Steel holds 82.65% of PSL. For every 156 shares of PSL, JSW Steel will issue 10 shares. The turnover of JSW Steel (standalone) for the year ended March 31, 2025, was ₹127,702 crore, while PSL's turnover was ₹605 crore.
Key Highlights
JSW Steel holds 82.65% of Piombino Steel Limited
Piombino Steel Limited's turnover for year ended March 31, 2025 was ₹605 crore
JSW Steel will issue 10 shares for every 156 shares of Piombino Steel
JSW Steel standalone turnover for year ended March 31, 2025 was ₹127,702 crore
Appointed date for the merger is January 1, 2026
💼 Action for Investors
Existing JSW Steel shareholders should note the potential dilution due to the share issuance. Monitor the progress of the merger approvals and the impact on JSW Steel's consolidated financials.