(FE)
Sajjan Jindal-led JSW Steel reported a 15.7% jump in net profit for the fourth quarter of FY25 at Rs 1,503 crore, driven by lower cost of materials, mining premium and royalties, and one-off tax gains.
The steelmaker, however, missed the Bloomberg consensus estimate which pegged profit after tax at Rs 1, 608 crore.
Revenue from operations declined 3% to Rs 44, 819 crore during the quarter, marginally ahead of the Bloomberg estimate of Rs 44, 720.
Earnings before interest, taxation, depreciation and amortisation (Ebitda) was up 4.1% year-on-year at Rs 6,378 crore, also missing the Bloomberg estimate of Rs 6,548 crore.
During the fourth quarter, JSW Steel achieved its highest-ever quarterly crude steel production at 7.63 million tonne, including 0.21 million tonne from trial runs, and a record high 7.49 million tonne in quarterly saleable steel sales, it said.
The steelmaker said that Indian operations’ sales growth was driven by strong domestic sales at 6.72 million tonne, up 30% annually. Revenue from operations for the India business was Rs 42,679 crore and operating Ebitda was Rs 6,436 crore, up 9% year-on-year, with an Ebitda margin of 15.1% during the quarter.
The company’s net debt as of March 31, 2025 stood at Rs 76,563 crore, lower by Rs 4,358 crore over the preceding quarter due to healthy cash generation, release of working capital and calibrated capital expenditure, JSW Steel added.
Consolidated capex spend during Q4FY25 was Rs 3,719 crore, and the total spend for FY25 was Rs 14, 656 crore.
Revenue from operations for the full fiscal was Rs 1,68,824 crore, and operating Ebitda was Rs 22,904 crore. JSW Steel’s net profit for the year came in at Rs 3,491 crore, up 13.54% from FY24.
Consolidated crude steel production for the year was 26.98 million tonne and sales volume was 25.67 million tonne.
JSW Steel’s board has recommended a final dividend of ?2.80 per equity share.
The firm’s share price was up 0.29% on the Bombay Stock Exchange at Rs 1,008.5 on Friday. The results were announced after market hours.
JSW Steel reiterated its stance on the recent Supreme Court judgement regarding the Bhushan Power and Steel (BPSL) acquisition.
On May 2, the apex court passed a ruling rejecting JSW Steel’s resolution plan for BPSL and directed refund of amounts paid to creditors of the distressed company.
“We have implemented the resolution plan for BPSL in compliance with law and taken all steps to successfully revive the company to its present status today,” it said in the earnings release.
During the quarter, BPSL registered crude steel production of 0.98 million tonne and sales volume of 0.94 million tonne. Revenue from operations and operating Ebitda for the quarter stood at Rs 5,635 crore and Rs 570 crore, respectively, the firm said. BPSL’s net profit for the quarter was Rs 42 crore.
“We along with the legal advisors have assessed the matter and believe that we have strong grounds for availing all available legal remedies,” JSW Steel added.
The steelmaker has given a guidance of 30.5 million tonne consolidated production volume for FY26 — 29.5 million tonne for India operations and 1 million tonne for its US (Ohio) operations.
