JSW Steel reported a strong financial performance for the quarter ended June 30, 2025 (Q1 FY26), with consolidated net profit attributable to owners rising 158% year-on-year to Rs 2,184 crore from Rs 845 crore in the same period last year.
The company’s revenue from operations in Q1 FY26 was Rs 43,147 crore, up 0.47% from Rs 42,943 crore in Q1 FY25. Total income for Q1 FY26 stood at Rs 43,497 crore, a slight increase from Rs 43,107 crore in Q1 FY25, reflecting a year-on-year growth of 0.9%.
On the operating front, JSW Steel posted an EBITDA of Rs 7,576 crore, with a strong EBITDA margin of 17.6%, significantly higher than the 12.83% margin in Q1 FY25. The improvement was driven by operational efficiency and a favourable product mix.
The profit before tax also showed strong growth, rising to Rs 3,072 crore from Rs 1,180 crore in the previous year’s quarter.
The company’s earnings per share (basic) improved to Rs 8.55 in Q1 FY26, up from Rs 3.36 in Q1 FY25. Total comprehensive income for the quarter stood at Rs 2,143 crore, compared to Rs 1,008 crore in the same quarter last year.
JSW Steel’s financial ratios indicated continued improvement. The net profit margin rose to 5.12%, up from 2.21% in Q1 FY25. The interest service coverage ratio (non-annualised) improved to 3.78 from 2.87, and the return on equity (ROE) rose to 10.88% from 4.41% a year ago.
The debt-to-equity ratio stood at 1.15, slightly up from 1.06, while the current ratio increased to 1.32 from 1.17, indicating better liquidity management.
Other Decisions at Board Meeting
In addition to financial results, the company’s board approved several key strategic decisions during its meeting on July 18, 2025.
JSW Steel will acquire up to 100% equity in Saffron Resources Private Limited, which owns 887 acres of land in Odisha. This move is expected to support the company’s expansion and raw material security plans.
The board also approved entering into a Share Purchase Option Agreement (SPOA) to acquire up to 24.9% additional stake in JSW Severfield Structures Ltd (JSSL), a joint venture with the Severfield plc group.
The potential deal, valued at up to Rs 235.10 crore, would raise JSW Steel’s stake in JSSL from the current 50% to a potential 74.9%, should the option be exercised by the JV partner.
Furthermore, the board gave the green light to form a joint venture with the Andhra Pradesh Mineral Development Corporation (APMDC) for setting up the Konijedu-Marlapadu Integrated Iron Ore Project in Andhra Pradesh.
JSW Steel will hold 89% in the JV, while APMDC will hold the remaining 11% as free-ride equity.
The project, with an investment of Rs 1,075 crore, aims to mine and beneficiate low-grade iron ore, yielding around 1.3 million tonnes of iron ore concentrate annually and reducing dependence on imports.