India’s JSW Steel increased steel production by 17% y/y in July-September

India’s JSW Steel increased its consolidated steel production to a record level of 7.9 million tons (+17% y/y) in the second quarter of fiscal year 2025/2026 (July-September). This is stated in the company’s quarterly report.

This result was due to the Dolvi plant returning to optimal capacity after maintenance, as well as increased production at JSW Vijayanagar Metallics Ltd and Bhushan Power & Steel (BPSL) in July-September.

The company’s consolidated sales for the period increased by 20% year-on-year – to 7.34 million tons.

Domestic steel sales for the period amounted to 6.33 million tons, up 14% year-on-year and 6% compared to the previous quarter.

At the same time, in July-September, the company increased steel exports by 89% year-on-year and by 56%, which accounts for 10% of Indian companies’ sales.

In terms of energy transition, in the second quarter of fiscal year 2025/ 2026 financial year, JSW commissioned India’s first green hydrogen electrolyzer in Vijayanagar with a capacity of 25 MW and 3.8 thousand tons of hydrogen per year. The company also approved the installation of 2.5 GW of renewable energy sources and 320 MWh of battery energy storage.

JSW Steel expects steel prices to improve in the third quarter (November-December) and demand for steel products in the country to grow by 8-9% for the fiscal year due to government spending and stable consumption.

In September this year, the Supreme Court of India approved the acquisition of Bhushan Power and Steel (BPSL) by JSW Steel for $2.3 billion, overturning its previous decision to reject the deal. The latest ruling recognizes JSW’s significant investments in modernizing BPSL, preserving jobs, and ensuring the latter’s continuity.