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JSWSTEEL - JSW Steel

📊 NSE: JSWSTEEL 🏢 Steel - Large 📅 Last Updated: 12/14/2025 8:42

📢 Recent Corporate Announcements

JSW Steel Announces Mozambique Coking Coal Project with 850 MT Reserves

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 14 Mar 2026, 01:36 AM

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.

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.

💡 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%

🟡 NEUTRAL ⭐ 6/10

ROUTINE 📅 10 Mar 2026, 09:30 AM

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.

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.

💡 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 to Attend Jefferies 7th Asia Forum in Hong Kong on March 18-19, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Mar 2026, 03:37 PM

JSW Steel Limited has announced its participation in the Jefferies 7th Asia Forum, a major institutional investor conference. The event is scheduled to take place in Hong Kong on March 18th and 19th, 2026. The company management will engage in both group and one-on-one meetings with global analysts and institutional investors. This disclosure is a routine regulatory requirement under SEBI (LODR) Regulations, 2015, to ensure transparency in management interactions.

Participation in the Jefferies 7th Asia Forum scheduled for March 18-19, 2026.
The event will be held in Hong Kong and involves international institutional investors.
Meeting formats include both Group sessions and 1x1 interactions.
Disclosure made in compliance with Regulation 30 (6) of SEBI (LODR) Regulations, 2015.
The schedule is subject to change based on exigencies from either the company or investors.

💡 Investors should watch for any investor presentations or transcripts released post-event for updates on the company's growth strategy. No immediate action is required as this is a routine communication.

JSW Steel Schedules Investor Plant Visit to Vijayanagar on March 11-12, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Mar 2026, 03:15 PM

JSW Steel Limited has scheduled a group visit for analysts and institutional investors to its Vijayanagar plant in Karnataka. The event is set to take place over two days, specifically March 11 and March 12, 2026. This disclosure is made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Such visits are standard practice for large-scale industrial firms to showcase operational capabilities and ongoing projects to the investment community.

Event: Group visit for analysts and institutional investors to the Vijayanagar facility.
Dates: Scheduled for March 11-12, 2026, in Karnataka.
Regulatory Compliance: Filed under SEBI LODR Regulations, 2015.
Note: The schedule is subject to change based on exigencies from either the company or investors.

💡 No immediate action is required as this is a routine investor relations event. Investors may look for subsequent disclosures or presentations that might be released following the plant visit for operational insights.

JSW Steel to Participate in Multiple Investor Conferences from February 23-25, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Feb 2026, 12:40 PM

JSW Steel Limited has announced its participation in three major investor conferences scheduled between February 23 and February 25, 2026, in Mumbai. The company will engage with institutional investors at the Kotak Chasing Growth 2026, Deutsche Bank India Credit Connect, and IIFL's 17th Enterprising India Global Investors' Conference. These interactions will include both group and one-on-one meetings to discuss the company's performance and outlook. Such disclosures are mandatory under SEBI Listing Obligations and Disclosure Requirements.

Scheduled to attend Kotak - Chasing Growth 2026 on February 23, 2026, for group and 1x1 meetings.
Participation in Deutsche Bank India Credit Connect - 2026 on February 24, 2026, in Mumbai.
Engagement at IIFL's 17th Enterprising India Global Investors' Conference on February 25, 2026.
Meetings will be held in Mumbai and are subject to change based on exigencies.

💡 No immediate action is required as this is a routine regulatory filing. Investors should monitor for any investor presentations or management commentary that may be released during or after these conferences.

JSW Steel Jan 2026 Consolidated Crude Steel Production Down 2% YoY at 24.75 Lakh Tonnes

🟡 NEUTRAL ⭐ 6/10

ROUTINE 📅 10 Feb 2026, 09:25 AM

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.

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.

💡 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 Releases Updated Investor Presentation February 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 06 Feb 2026, 02:35 PM

JSW Steel Limited has officially released an updated investor presentation as of February 06, 2026. The disclosure was made in compliance with Regulation 30 of the SEBI Listing Regulations 2015. This document serves as a key communication tool for analysts and investors to understand the company's current operational status and strategic direction. While the filing itself is a routine disclosure, the linked presentation contains the latest data on the company's performance metrics.

Disclosure submitted to NSE and BSE on February 06, 2026, under Regulation 30.
New presentation link provided for the JSW Steel Investor Relations portal.
The update is intended for both institutional investors and research analysts.
Filing signed by Manoj Prasad Singh, Company Secretary in an interim capacity.

💡 Investors should access the provided link to review the company's latest capacity expansion updates and financial health. No immediate portfolio changes are recommended based solely on this routine filing.

JSW Steel Shareholders Approve JV with JFE Steel for Bhushan Power & Steel Assets

🟢 POSITIVE ⭐ 8/10

M&A 📅 05 Feb 2026, 08:52 PM

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.

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.

💡 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 to Participate in Investor Conferences on February 10, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Feb 2026, 11:53 AM

JSW Steel Limited has announced its participation in two major investor conferences scheduled for February 10, 2026, in Mumbai. The company will attend the Nuvama 21st India Conference 2026 and Axis Capital's Flagship India Conference. These interactions will involve both group and one-on-one meetings with analysts and institutional investors. Such engagements are routine for large-cap companies to maintain transparency and discuss broad business strategies with the investment community.

Scheduled participation in two investor conferences on February 10, 2026
Events include Nuvama 21st India Conference and Axis Capital's Flagship India Conference
Meeting formats include both Group and 1x1 sessions in Mumbai
Disclosure made in compliance with Regulation 30(6) of SEBI LODR Regulations

💡 No immediate action is required as this is a routine regulatory filing. Investors may monitor for any post-event presentations or transcripts that could provide updated insights into the company's operational outlook.

JSW Steel Releases Q3FY26 Earnings Conference Call Transcripts

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 30 Jan 2026, 11:44 AM

JSW Steel Limited has officially released the transcripts and audio recordings for its Q3FY26 earnings conference call, which was held on January 23, 2026. This disclosure is made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The documents provide a detailed record of the management's discussion regarding the company's financial performance and strategic outlook for the quarter. Investors can access these materials via the company's official website to gain deeper insights into the quarterly results.

Official transcript of the Q3FY26 earnings call now available for public review
Audio recording of the session held on January 23, 2026, is also accessible
Compliance with Regulation 30(6) of SEBI Listing Obligations and Disclosure Requirements
Provides detailed management commentary on the company's Q3 performance and future outlook

💡 Investors should review the transcript to understand management's perspective on steel pricing, raw material costs, and capacity expansion timelines. This document is essential for a thorough fundamental analysis of the company's recent performance.

JSW Steel Secures Global #1 Rank in S&P CSA Score with Record 88 Points

🟢 POSITIVE ⭐ 6/10

OTHER 📅 28 Jan 2026, 08:27 PM

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.

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.

💡 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 Releases Audio Recording of Q3FY26 Earnings Conference Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 23 Jan 2026, 09:25 PM

JSW Steel Limited has made the audio recording of its Q3FY26 earnings conference call available to the public. The call was conducted on January 23, 2026, following the company's board meeting to discuss financial results for the quarter. This disclosure is part of the company's regulatory compliance under SEBI Listing Regulations. Investors can now access the full management commentary and Q&A session via the provided link on the company's website.

Audio recording of the Q3FY26 earnings conference call is now live on the company's website.
The call was held on January 23, 2026, at 5:30 p.m. IST following the quarterly board meeting.
Disclosure submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording provides detailed management insights into the company's performance for the third quarter of FY26.

💡 Investors should listen to the recording to understand management's perspective on steel pricing trends and volume guidance. This information is critical for updating financial models and assessing the company's near-term growth trajectory.

JSW Steel Q3 FY26: Net Profit at ₹2,410 Cr, Record Sales of 7.64mt, and ₹37,000 Cr Deleveraging Plan

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 23 Jan 2026, 03:57 PM

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.

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.

💡 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%

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 23 Jan 2026, 03:37 PM

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.

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.

💡 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%

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 23 Jan 2026, 03:29 PM

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.

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.

💡 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.

View All JSWSTEEL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue from operations reached INR 45,152 Cr in Q2 FY26, representing a 14% YoY growth from INR 39,684 Cr. Standalone revenue grew 6.7% YoY to INR 32,859 Cr. JSW One (digital segment) reported a GMV of INR 3,952 Cr, up 43% YoY.

Geographic Revenue Split

Indian operations contributed the majority of revenue with steel sales of 7.07 mt (96% of consolidated volumes). US Ohio operations reported revenue of USD 194.02 million, while US Plate and Pipe Mill revenue was not explicitly totaled but reported sales of 129,124 net tonnes of plate.

Profitability Margins

Consolidated Net Profit (PAT) stood at INR 1,646 Cr for Q2 FY26, a 307% increase from INR 404 Cr in Q2 FY25, resulting in a net margin of 3.6%. Standalone Profit Before Tax was INR 2,016 Cr, up 27% YoY.

EBITDA Margin

Consolidated Adjusted EBITDA margin was 17.4% (INR 7,849 Cr) in Q2 FY26, compared to 14.2% (INR 5,644 Cr) in Q2 FY25. Standalone Adjusted EBITDA margin was 16.6% (INR 5,457 Cr).

Capital Expenditure

The company is pursuing a target to reach 50 mtpa capacity by FY 2031. While specific quarterly capex spend was not totaled, the BPSL transaction will provide INR 32,000 Cr in cash proceeds to fund future growth and deleveraging.

Credit Rating & Borrowing

Long-term ratings are [ICRA]AA and [CARE]AA, both placed on 'Watch with Positive Implications' following the JFE deal. Short-term rating is [ICRA]A1+. Net Debt to EBITDA stood at 2.97x in Q2 FY26, expected to improve to 2.1-2.2x by FY2027-28.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Coking Coal and Iron Ore. The company noted lower consumption of both iron ore and coking coal on a per-tonne basis in Q2 FY26.

Import Sources

Not disclosed in available documents, though coking coal is typically imported to India for steel production.

Capacity Expansion

Current India capacity utilization is 92%. The company aims to achieve 50 mtpa steel-making capacity in India by FY 2031. BPSL capacity was recently enhanced from 2.75 mtpa to 4.5 mtpa.

Raw Material Costs

Indian operations benefited from lower coking coal prices during Q2 FY26. Specific percentage of revenue for raw materials was not disclosed, but cost improvements were a key driver for the INR 1,090 Cr positive EBITDA movement QoQ.

Manufacturing Efficiency

India capacity utilization reached 92% in Q2 FY26. Crude steel production grew 17% YoY to 7.90 mt due to ramp-up at BPSL and Vijayanagar.

📈 Strategic Growth

Expected Growth Rate

8-9%

Growth Strategy

Growth will be achieved by expanding Indian capacity to 50 mtpa by 2031, monetizing assets through the JFE JV (INR 24,483 Cr slump sale), and scaling the JSW One B2B platform which saw 53% YoY growth in steel volumes.

Products & Services

Crude steel, steel slabs, Hot Rolled Coils (HRC), steel plates, steel pipes, and value-added special steel products for automotive and electrical applications.

Brand Portfolio

JSW Steel, JSW One, JSW One Finance, JSW Kalinga Steel, JSW Sambalpur Steel.

New Products/Services

Value-added steel products including non-oriented and grain-oriented electrical steel sheets through JFE collaboration.

Market Expansion

Targeting the Indian domestic market which is projected to grow 8-9% in FY26; also maintains operations in the USA (Ohio, Texas).

Market Share & Ranking

JSW Steel is the flagship business of the USD 23 billion JSW Group and a leading integrated steel producer in India.

Strategic Alliances

50:50 Strategic Joint Venture with JFE Steel Corporation, Japan for the BPSL business undertaking; JFE to invest INR 15,750 Cr.

🌍 External Factors

Industry Trends

India is the fastest-growing major steel market; recent GST cuts are expected to boost consumer sentiment and demand.

Competitive Landscape

Intense competition within the steel industry is cited as a primary risk factor.

Macro Economic Sensitivity

Steel demand is highly sensitive to GDP, with a projected 8-9% growth for the current fiscal year supported by government and private capex.

Consumer Behavior

Shift toward digital procurement via platforms like JSW One (135,000+ visits in Q2) and increased demand for value-added steel in automotive/appliances.

Geopolitical Risks

Global export trends are noted as a challenge that requires close monitoring.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) 2015; transaction requires shareholder and regulatory approvals (6-9 month timeline).