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As of 2026-08-25
Recent drawdown and price variability remain within the producer's contained-risk thresholds.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹47,364 crore | PEAK₹51,180 crore | ₹45,991 crore | ₹45,152 crore | ₹43,147 crore |
| Expenses | ₹41,830 crore | PEAK₹46,862 crore | ₹44,161 crore | ₹43,004 crore | ₹40,325 crore |
| Profit Before Tax | ₹6,258 crore | PEAK₹22,547 crore | ₹1,574 crore | ₹2,432 crore | ₹3,172 crore |
| Finance Costs | ₹1,712 crore | ₹2,168 crore | ₹2,304 crore | PEAK₹2,413 crore | ₹2,217 crore |
| Profit Loss For Period | ₹4,696 crore | PEAK₹19,243 crore | ₹2,410 crore | ₹1,646 crore | ₹2,209 crore |
| Comprehensive Income For The Period | ₹5,514 crore | PEAK₹18,400 crore | ₹2,036 crore | ₹2,081 crore | ₹2,143 crore |
JSW Steel Limited reported lower revenue in the quarter ended 30 June 2026 compared to the preceding quarter, but total expenses declined more sharply, resulting in a higher operating surplus. Profit before tax returned to a level more than double that of the same quarter a year ago, supported by lower finance costs.
Revenue from operations was ₹47,364 crore, down 7.5% from ₹51,180 crore in the preceding quarter. Total expenses fell 10.7% to ₹41,830 crore. The steeper decline in expenses increased the operating surplus before other income and finance costs to ₹5,534 crore from ₹4,318 crore in the preceding quarter, a 28% increase.
Year over year, revenue grew 9.8% from ₹43,147 crore, while expenses increased 3.7% from ₹40,325 crore. The wider gap between revenue and expenses contributed to the higher operating surplus compared to the same quarter a year ago.
Profit before tax was ₹6,258 crore, down 72% from ₹22,547 crore in the preceding quarter. The prior quarter included a ₹17,888 crore exceptional gain. Excluding that item, profit before tax for the preceding quarter was ₹4,659 crore. The current quarter’s profit before tax is higher than that adjusted figure.
Compared to the same quarter a year ago, profit before tax nearly doubled from ₹3,172 crore, as revenue grew 9.8% while expenses increased only 3.7%.
Net profit for the period was ₹4,696 crore, compared to ₹19,243 crore in the preceding quarter and ₹2,209 crore a year ago. Comprehensive income for the period was ₹5,514 crore, exceeding net profit by ₹818 crore, which reflects net positive other comprehensive income items.
Finance costs declined 21% sequentially to ₹1,712 crore, reaching the lowest level among the five quarters for which data is available. The reduction in finance costs supported pre-tax profit. Other income was ₹724 crore in the quarter.
Basic earnings per share was ₹19.05, down from ₹67.07 in the preceding quarter but up from ₹8.95 a year ago. The paid-up equity share capital remained unchanged at ₹244 crore, and the movement in earnings per share aligns with the change in net profit.
Excluding the prior quarter's exceptional gain, underlying operating profit improved. Revenue declined sequentially, but a proportionally larger reduction in total expenses and lower finance costs allowed the company to generate higher profit before tax than the normalized level of the previous quarter. The year-over-year growth in revenue and profit indicates improved performance compared to the same period last year.
Exchange disclosures and regulatory announcements for JSW Steel.
On August 25, 2026, JSW Steel Limited filed a disclosure under Regulation 7(2) reporting multiple changes in promoter shareholding. The filings detail a series of transactions where the total number of securities held by promoters decreased from an initial 41,845,93 shares to a final 3,945,056 shares. These transactions involved various disposal volumes and values, including significant disposals such as 30,591 shares valued at INR 39,157,927 and 36,596 shares valued at INR 47,952,699.
On August 21, 2026, the equity shareholders of JSW Steel Limited approved a special resolution to amalgamate Piombino Steel Limited with JSW Steel Limited under Sections 230 to 232 of the Companies Act, 2013. The meeting, convened by the National Company Law Tribunal (Mumbai Bench) and scrutinized by Nilesh Shah, recorded a 98.59% approval rate among votes polled, with 2,148,288,337 votes in favor against 30,763,188 votes against.
MEETING DATE : 21-AUG-2026
On August 21, 2026, JSW Steel Limited held an NCLT-directed shareholder meeting via video conferencing to approve the Scheme of Amalgamation of Piombino Steel Limited with JSW Steel Limited. The resolution was approved with the requisite majority. The meeting, chaired by Chairman and Managing Director Sajjan Jindal, had 117 members present, including 31 bodies corporate holding 43.66% of paid-up equity share capital (aggregating Rs. 106.76 Crores). Remote e-voting ran from August 18 to August 20, 2026, with a cut-off date of August 14, 2026.
On August 19, 2026, JSW Steel Limited filed a disclosure under Regulation 7(2) reporting multiple changes in promoter shareholding between August 17 and August 19, 2026. The filings detail ten separate transactions where the number of securities held by promoters decreased from an initial 4,266,261 shares to a final 4,184,593 shares, representing a net disposal of 81,668 shares. Specific transaction values ranged from INR 14,682 to INR 17,277,108, with the signatory identified as Swayam Saurabh.
JSW Steel Limited uploaded a new investor presentation to its website on August 12, 2026, as required under Regulation 30 of SEBI's Listing Regulations, 2015.
JSW Steel Limited scheduled analyst and institutional investor meetings for August 17-19, 2026, in Singapore and Hong Kong, covering both one-on-one and group formats. The filing, dated August 11, 2026, was submitted to the National Stock Exchange of India and BSE Limited pursuant to SEBI Listing Regulations. Company Secretary Manoj Prasad Singh noted that the meeting schedule is subject to change due to exigencies.
JSW Steel reported consolidated crude steel production of 24.02 lakh tonnes for July 2026, a 3% year-over-year increase. Indian operations contributed 23.39 lakh tonnes (up 4% YoY), while JSW Steel USA – Ohio produced 0.63 lakh tonnes (down 13% YoY). Capacity utilization for Indian operations was 87%, and the BF3 at Vijayanagar, restarted on June 23, 2026, is operating above 80% of rated capacity.
On August 7, 2026, JSW Steel Limited appointed Prem Pushkar Varma as Executive Vice President & Plant Head and S M Kumar as Sr. Vice President, Plant Head. President Ashish Chandra resigned effective August 7, 2026, for personal reasons and to pursue opportunities outside the JSW Group, with his resignation letter received on July 1, 2026. Plant Head B N S Prakash Rao ceased due to superannuation or retirement.
JSW Steel Limited has informed the Exchange about Resignation of Director/KMP/SMP |SUBJECT: Resignation of Director/KMP/SMP
JSW Steel appointed Mr. P P Varma (Executive Vice President & Plant Head - Dolvi, Salav & Anjar) and Mr. S M Kumar (Sr. Vice President, Plant Head - Salem) to Senior Management, effective August 7, 2026. Mr. Ashish Chandra (President-Dolvi, Salav & Anjar Works) resigned from the company due to personal reasons, ceasing to be Senior Management on August 7, 2026, with his last working day on August 31, 2026. Mr. B N S Prakash Rao transitioned from Plant Head - Salem to Head – Centre of Excellence for Alloy Steel, effective August 7, 2026.
JSW Steel Limited will hold meetings with institutional investors at JSW Centre, Mumbai, from August 11-14, 2026. This schedule is subject to change due to exigencies. The company is providing this intimation under the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Effective August 1, 2026, Amba River Coke Limited, Monnet Cement Limited, and JSW Retail and Distribution Limited have been amalgamated with JSW Steel Limited. This scheme of amalgamation, approved by the National Company Law Tribunal, became effective upon filing with the Registrar of Companies, Mumbai. The appointed date for the scheme was April 1, 2026.
JSW Steel Limited achieved global investment grade status with Moody's assigning a Baa3 long-term issuer rating and a stable outlook on July 31, 2026. Moody's also upgraded JSW Steel's senior unsecured ratings to Baa3 from Ba1. This upgrade reflects sustained credit profile improvement, cost-competitive operations, material debt reduction from ₹76,563 crore in March 2025 to ₹46,157 crore in June 2026, and expanded operating scale. The rating agency expects future earnings growth from project ramp-ups and supports JSW Steel's growth plans with financial discipline.
JSW Steel Limited will hold a shareholders meeting on August 21, 2026, at 12:00 PM IST via video conference to consider and approve a Scheme of Amalgamation with Piombino Steel Limited. This meeting is convened pursuant to an order from the NCLT.
JSW Steel Limited has published newspaper advertisements regarding the dispatch of notices for a meeting of equity shareholders convened by the National Company Law Tribunal (NCLT). This meeting is scheduled for Friday, August 21, 2026, at 12 Noon IST. The disclosure is also available on the company's website.
On July 30, 2026, ICRA Limited upgraded JSW Steel Limited's long-term credit rating to [ICRA]AA+ with a stable outlook. This upgrade reflects significant deleveraging from proceeds of a slump sale transaction involving Bhushan Power and Steel Limited's assets, resulting in substantial cash inflows and reduced consolidated debt for JSW. The rating action also considers JSW's strong financial performance in FY2026 and expectations for continued healthy performance in FY2027, supported by operational improvements and integration of acquired assets.
JSW Steel Limited has convened a meeting of its equity shareholders on August 21, 2026, to approve the Scheme of Amalgamation of Piombino Steel Limited with JSW Steel Limited. This meeting, ordered by the National Company Law Tribunal on July 2, 2026, aims to consolidate investments, provide additional cash for growth, and reduce compliance and overhead costs. Shareholders can participate and vote remotely or at the meeting via video conferencing.
JSW Steel Limited has published newspaper advertisements on July 30, 2026, regarding the opening of a Special Window for the Transfer and Dematerialisation of Physical Securities. This action is in compliance with SEBI regulations and a SEBI circular dated January 30, 2026.
On July 30, 2026, ICRA Limited upgraded JSW Steel Limited's long-term credit rating to [ICRA] AA+ with a stable outlook. The rating agency also reaffirmed the company's short-term rating at [ICRA] A1+. This upgrade applies to various credit facilities including term loans, standby letter of credit facilities, non-convertible debentures, and commercial paper.
JSW Steel Limited has published newspaper advertisements on July 30, 2026, to notify equity shareholders of a meeting convened by the National Company Law Tribunal (NCLT). This meeting, ordered by the NCLT Mumbai bench on July 2, 2026, is scheduled for Friday, August 21, 2026, at 12 Noon IST.
JSW Steel Limited has submitted revised voting results for its 32nd Annual General Meeting held on July 24, 2026, due to an inadvertent error in the initial submission. All resolutions, including the adoption of financial statements, dividend declaration, director appointments, and ratification of cost auditor remuneration, were passed with the requisite majority. The company clarified there is no change in the outcome or percentage of voting results.
JSW Steel Limited held its 32nd Annual General Meeting on July 24, 2026, where all resolutions were passed with the requisite majority. These resolutions included the adoption of financial statements for the year ended March 31, 2026, the declaration of dividend, the re-appointment of Mr. Sajjan Jindal as a director, ratification of cost auditor remuneration, and the appointment of Ms. Fiona Jane Mary Paulus and Mr. Devopam Bajpai as independent directors. Additionally, approvals were granted for the issue of specified securities to Qualified Institutional Buyers and for material related party transactions with JSW JFE Steel Limited and its subsidiary.
On July 27, 2026, Moody's Ratings upgraded JSW Steel Limited's issuer rating to Baa3 with a stable outlook, assigning it an investment grade. This upgrade reflects sustained credit profile improvements, including cost-competitive operations, material debt reduction following asset divestment, and a strong business profile as India's largest steel producer. The rating is now aligned with India's sovereign rating.
JSW Steel Limited held its 32nd Annual General Meeting on July 24, 2026, conducted via Video Conferencing. Key agenda items included the adoption of financial statements for the year ended March 31, 2026, declaration of dividend, re-appointment of a director, ratification of cost auditor remuneration, re-appointment of an independent director, appointment of a new independent director, and approval for issuing specified securities and related party transactions. The outcome of voting on these resolutions will be announced after a cumulative count of electronic and poll votes.
Recent market and company developments associated with JSW Steel.
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JSW Steel reported consolidated Crude Steel production for the month of July 2026 at 24.02 Lakh tonnes registering 3% YoY growth.
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Comprehensive Section Breakdown for JSW Steel
Strategic Vision: Indian steel producer manufacturing crude and value-added steel products.
Category: Manufacturing
Operates blast furnaces, corex furnaces, and electric arc furnaces to smelt iron ore and produce steel slabs, blooms, and billets.
Category: Manufacturing
Processes crude steel into hot-rolled coils, cold-rolled coils, galvanized sheets, color-coated panels, and wire rods.
Core Thesis: JSW Steel integrates upstream mining, port access, and energy recycling with downstream value-added processing to optimize its steel production and logistics.
• Upstream Mining & Logistics: Secures primary feedstocks through captive mines and utilizes slurry pipelines for efficient transport to processing plants. • Port Terminal Integration: Integrates manufacturing centers with maritime ports for importing raw materials and exporting finished steel. • Captive Energy Recycling: Operates captive power plants that convert waste gases into electricity to offset energy requirements. • Value-Added Processing: Routs crude steel directly to internal rolling mills for processing into specialized products for various industries.
• Backward integration into captive mining operations.
• Logistics integration with captive port terminals and slurry pipelines.
• Internal energy generation through waste gas recycling.
• Integrated value-added processing facilities.