JSW Steel Q4 Results: Profit rises by 13.54%, revenue slips 3.13% on low steel prices, imports

JSW Steel Ltd on Friday released its fiscal fourth quarter earnings with profit at Rs 1,501 crore, beating estimates. The profit for the quarter was 13.54 per cent higher in comparison to Rs 1,322 crore recorded during the corresponding quarter of FY24. It reported revenue from operations at Rs 44,819 crore, recording a drop of 3.13 per cent as against Rs 46,269 crore posted during the fourth quarter of previous financial year. The company EBITDA stood at Rs 6,378 crore. 

According to a CNBC TV18 poll, JSW Steel was expected to report Q4 profit at Rs 1,470 crore and revenue for the quarter in review was estimated at Rs 44,975 crore. 

The company posted the highest ever quarterly crude steel production at 7.633 million tonnes and saleable steel sales of 7.49 million tonnes. For the full year as well, it recorded the highest crude steel production at 27.791 million tonnes and saleable steel sales of 26.452 million tonnes, meeting the revised volume guidance announced in Q3FY25.

Weak prices and imports pressure steelmakers’ revenues

Overall, India’s crude steel production rose by 6.8 per cent YoY to 40.12 MnT in Q4 FY25, and by 5.3 per cent to 152 MnT in FY25. Steel consumption, meanwhile, grew by 11.2 per cent YoY to 40.27 MnT in Q4, while it was up 11.5 per cent to 152MnT for FY25. This was the fourth consecutive year of double-digit steel demand growth in India. 

In a statement, JSW Steel said that the government’s continued capex push should drive domestic demand in FY26 as well. 

Steel imports rose by 9.2 per cent year-on-year to 10.5 million tonnes in FY25, while exports dropped by 26.7 per cent to 6.26 million tonnes. As a result, India remained a net importer of steel for the second year in a row. 

Owing to steel prices failing to gain momentum on weak demand and cheap imports from China and South-East Asia, most steel companies reported a drop in their quarterly topline. 

To support the local steel industry, the government imposed a 12 per cent provisional safeguard duty on April 21, 2025, following a recommendation from the Directorate General of Trade Remedies.

Dividend announcement

The company board has recommended a dividend of Rs 2.80 per equity share on the 244,54,53,966 equity shares of face value of Re 1 each, for the year ended March 31, 2025. The total outflow on account of this dividend will be Rs 685 crore.

Guidance for FY26

The production and sales guidance for FY26 is as follows: (million tonnes)