JSW Steel Ltd Share Price – NSE  /  BSE

Steel, Mid Cap

Revenue from operations rose 1.73% year on year (YoY) to Rs 42,943 crore in the quarter ended June 2024.

Profit before tax stood at Rs 1,380 crore in first quarter of FY25, down 60.34% from Rs 3,480 crore recorded in Q1 FY24.

Operating EBITDA stood at Rs 5,510 crore in Q1 FY25, down 21.79% from Rs 7,046 crore posted in same quarter last year. EBITDA margin was 12.8% during the quarter.

Consolidated crude steel production for the quarter stood at 6.35 million tonnes, lower by 6% QoQ and lower by 1% YoY. Capacity utilization at the Indian operations was 87% during the quarter due to planned maintenance shutdowns at Dolvi & BPSL.

Steel sales for the quarter stood at 6.12 million, lower by 9% QoQ but higher by 7% YoY. Domestic sales at 5.31 million tonnes were higher by 3% QoQ and by 14% YoY.

Sales volume of OEM & Industrial segment increased 18% and Retail sales grew by 8% YoY. Exports fell 29% YoY and constituted 10% of sales from Indian operations for the quarter.

Guidance for FY25, the company expects total combined volumes to be production of 28.40 million tones and sales of 27 million tonnes saleable steel. Growth for 2025 is expected to hold steady at 3.3%, marginal upgrade from its April forecast of 3.2%. Inflationary pressures are easing measures. Geopolitical risks necessitate monitoring, particularly their potential impact on supply chains, energy costs and inflation.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The scrip shed 4.36% to end at Rs 889.55 on Friday, 20 July 2024.

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The Board of JSW Steel at its meeting held on 19 July 2024 has approved (a) the transfer of Slurry Pipe Line undertaking of JSW Utkal Steel, a wholly owned subsidiary of JSW Steel (Company) for the transportation of iron ore from Nuagaon mines to Jagatsinghpur in the State of Odisha, by way of Slump Sale to JSW Infrastructure, a related party and (b) to enter into a long term take or pay agreement with JSW Infrastructure for the transportation of iron ore slurry from Nuagaon mines to Jagatsinghpur by slurry pipeline mode, for a period of 20 years, by the Company (including its subsidiaries).

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Net profit of JSW Steel declined 63.86% to Rs 845.00 crore in the quarter ended June 2024 as against Rs 2338.00 crore during the previous quarter ended June 2023. Sales rose 1.36% to Rs 42337.00 crore in the quarter ended June 2024 as against Rs 41771.00 crore during the previous quarter ended June 2023.

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Sequentially, the production volume has declined by 6%. The steel maker had recorded production volume of 6.79 million tones in Q4 of FY 2023-24.

The company cited ‘planned maintenance shutdowns’ as the reason for lower steel production volume.

Further, the capacity utilisation level at the company’s Indian operations stood at 87% for Q1 FY25. The company’s India division has recorded steel production volume of 6.12 million tonnes in Q1 FY25, down 6% YoY and down 1% QoQ.

Ohio-based JSW Steel USA has reported steel production volume of 0.23 million tonnes for Q1 FY25 as against 0.24 million tonnes for Q1 FY24 and 0.25 million tonnes for Q4 FY24.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The company had reported 64.66% decline in consolidated net profit to Rs 1,332 crore on 1.48% fall in revenue from operations to Rs 46,269 in Q4 FY24 over Q4 FY23.

The scrip shed 0.74% to currently trade at Rs 928.10 on the BSE.

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