JSW Steel shares up 2% as company sees 12% higher steel production for February

From its India operations, the company saw a 13% increase in steel production year-on-year (YoY) to 23.32 lakh tonnes as compared to 20.50 lakh tonnes reported in February 2024. JSW Steel US steel production stood at 0.75 lakh tonnes during the reporting period.

At 10:45 AM, JSW Steel shares were trading at ₹1,029.85 apiece, rising 1.85% on the National Stock Exchange (NSE). The company’s market capitalisation stands at ₹2.51 lakh crore.

“Over the last three decades, JSW Steel has grown from a single manufacturing unit to become India's leading integrated steel company with consolidated crude steel capacity of 35.7 MTPA, including 1.5 MTPA in the US. Domestic crude steel capacity stood at 32.5 MTPA and will reach 34.2 MTPA post full commissioning of the expansion project by wholly owned subsidiary JSW Vijayanagar Metallics Ltd. (JVML) at Vijayanagar,” the company said in a statement to the exchanges.

Its next phase of growth will take consolidated capacity to 43.5 MTPA over the next three years. The company's plant in Vijayanagar, Karnataka, is the largest single-location steel-producing facility in India with a capacity of 17.5 MTPA (including under commissioning).

The steel producer had reported a net profit of over 70% for the third quarter of the current fiscal year (Q3 FY25) to ₹719 crore, mainly due to higher expenses. In the same quarter of the previous year, the company had posted a net profit of ₹2,450 crore.

JSW Steel’s total income in Q3 FY25 also declined to ₹41,525 crore from ₹42,134 crore in the year-ago period.

Its expenses rose to ₹40,250 crore during the reporting quarter as compared to ₹38,815 crore in Q3 FY24. Its consolidated capital expenditure (capex) stood at ₹3,087 crore, while its overall capex spend for the April-December period was ₹10,937 crore.

The company reported revenue from operations of ₹41,378 crore and an operating EBITDA (earnings before interest, taxes and amortisation) of ₹5,579 crore for the reporting quarter.