JSW Steel’s August Crude Steel Output Rises 1% YoY, Indian Operations Lead with 2% Growth

JSW Steel reported that its total crude steel production for August 2024 was 23.16 lakh tonnes. The company has completed commissioning major facilities to increase capacity at BPSL from 3.5 MTPA to 4.5 MTPA, with production ramp-up expected by the third quarter of FY25. 

In India, crude steel production rose by 2% year-on-year, with 91% capacity utilisation. Production in the US remained stable, while overall consolidated crude steel production grew by 1% year-on-year.

Here is the production data in table format-

Financial Highlights

JSW Steel reported a 63.9% drop in its consolidated net profit for the June quarter of FY25, totalling ₹845 crore. In the same period last year, the company’s net profit was ₹2,338 crore. Despite the profit drop, JSW Steel’s total consolidated revenue for Q1 FY25 was ₹42,943 crore, up 1.7% from ₹42,213 crore in the year-ago period. 

Sequentially, JSW Steel’s revenue fell by 7.2%, and net profit dropped by 34.9%. The decline in crude steel production was due to planned shutdowns at the Dolvi unit and Bhushan Power & Steel. 

About JSW Steel

JSW Steel is the main business of the US$ 24 billion JSW Group, a large Indian conglomerate with interests in energy, infrastructure, cement, paints, real estate, e-platforms, mobility, defence, sports, and venture capital. Over the past 30 years, JSW Steel has grown from a single manufacturing plant to become India’s top integrated steel company, with a total crude steel production capacity of 35.7 million tonnes per year (MTPA), including 1.5 MTPA in the US. India’s steel capacity is 34.2 MTPA, and 5 MTPA is currently being commissioned. The company plans to increase its total capacity to 43.5 MTPA in the next three years. 

On September 12, 2024, the share price of JSW Steel opened at ₹935.80, touching the day’s high at ₹943.85, as of 10:24 AM on the NSE.

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