JSW Steel Q1 earnings: Net profit more than doubles to ₹4,651 crore, EBITDA jumps 24%

JSW Steel, the country's largest steel maker, on Friday, July 16, said that its net profit more than doubled to ₹4,651 crore in April-June period compared with ₹2,184 crore in the same period last year.

The Mumbai-based company's total revenue from operations advanced 10% to ₹47,364 crore in the first quarter of current financial year from ₹43,147 crore in the year-ago period.

JSW Steel reported strong operational performance as its earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at ₹9,383 crore at the end of June quarter, up 24% from ₹7,576 crore in the corresponding period last financial year.

Its EBITDA margin improved by 230 basis points to 19.81%.

The company said that its consolidated production for the quarter was 6.59 million tonnes, higher by 3% year-on-year (YoY) and 2% quarter-on-quarter (QoQ). However, the volumes increased by 15% YoY excluding BF-3 which was under shutdown in Q1FY27 for upgradation.

JSW Steel added that steel sales for the quarter were best-ever for Q1 at 6.25 million tonnes, up 4% YoY, with focus on Flats & VASP which were up by 9% and 8%, respectively. Sales to institutional, auto, renewable and appliances sectors were best-ever for Q1.

"Domestic sales stood at 5.34 million tonnes, up 1% YoY, but sequentially lower due to impact in long products. The institutional sales volumes at 3.72 million tonnes, increased by 5% YoY, while retail sales were lower due to channel de-stocking. Exports stood at 0.68 million tonnes, up 46% YoY, contributing to 11% of sales from Indian operations for Q1 FY27," JSW Steel said in a press release.

JSW Steel's net debt to equity stood at 0.42 times 0.42x at the end of the quarter, as against O.51 times at the end of Q4 FY26 and net debt to EBITDA stood at 1.46 times, as against 1.81 times at the end of Q4FY26. Net Debt as of 30th June 2026 stood at ₹46,157 crore, lower by ₹7,713 crore compared to March 31, 2026.

JSW Steel shares came under buying interest after earnings announcement and the stock jumped as much as 1.88% to hit an intraday high of ₹1,244, outperforming the NIFTY50 index which was up 1.03%.