JSW Steel reported a Rs 2,410 crore consolidated profit in Q3FY26, marking a 235.19% year-on-year (YoY) increase from Rs 719 crore reported in Q3FY25.
The company’s revenue stood at Rs 45,991 crore, up10.3%, from Rs 41,378 crore reported in Q3FY25.
Q3FY26 highlights: 22% YoY jump in adjusted EBITDA
The Company registered an adjusted EBITDA of Rs 6,620 crores, with a margin of 14.4%. “The Adjusted EBITDA increased by 22% YoY, driven primarily by higher volumes and lower coking coal and power costs, partly offset by lower realisations. Reported EBITDA was Rs 6,496 crores during the quarter,” the comopany said in its Q3 release.
The company reported exceptional items of Rs 338 crore on standalone basis and Rs 529 crore on consolidated basis during the quarter as an impact of labour codes on employee benefits.
Crude steel production stood at 7.48 million tonnes. The company has reported its highest ever quarterly Saleable Steel Sales at 7.64 million tonnes.
JSW Steel said the “profit after tax for the quarter stood at Rs 2,410 crores after recognising deferred tax assets (net) amounting to Rs 1,439 crores on the brought forward unabsorbed depreciation in Bhushan Power & Steel Limited (BPSL) as it is probable that carried forward unabsorbed depreciation will be recovered against the likely capital gains on the slump sale of BPSL’s steel business undertaking.”
JSW Steel plans Rs 51 crore investment in Mumbai real estate JV
JSW Steel has announced formation of a joint venture company for a land development project in Mumbai. Under the proposed structure, Peddar Realty (PRL), a wholly owned subsidiary of JSW Steel, will hold a 51% stake in the joint venture. The remaining stake will be held by JSW Realty (JSWRPL) and other partners. Peddar Realty will invest up to Rs 51 crore in the joint venture company.
JSW Steel has announced a 50:50 joint venture with Japan’s JFE Steel Corporation for Bhushan Power & Steel (BPSL). The JV will be housed in a new entity called JSW Sambalpur, to which the steel business of BPSL will be transferred through a slump sale. Both JSW Steel and JFE Steel will hold equal effective equity stakes in this new company.
The equity value of the JV is pegged at Rs 31,500 crore, with JFE Steel investing Rs 15,750 crore for its 50% stake. This investment will be made in two tranches. The transaction is expected to be completed by Q3 FY27.
“50:50 JV announced with JFE Steel for BPSL. Will enable production of more high-quality steel products, tap into new
growth opportunities, and deleveraging of ~₹37,000 crore at JSW Steel,” the company said in its press release.