JSW Steel increased steel output by 3% y/y in April–June

The company has completed the expansion of Blast Furnace No. 3 at Vijayanagar

Indian steelmaker JSW Steel increased its consolidated steel output by 2% compared with the previous quarter and by 3% year-on-year – to 6.59 million tonnes in the first quarter of the 2026/2027 financial year (April–June), according to the company’s report.

Indian plants produced 6.35 million tonnes of steel (+0.3% quarter-on-quarter and 3% year-on-year). The capacity utilisation rate for the period reached 94%, up from 87% a year earlier.

JSW Steel has completed the expansion of Blast Furnace No. 3 at Vijayanagar from 3 million tonnes per annum to 4.5 million tonnes per annum, with the facility having been restarted in June. The plant is already operating at over 80% of capacity and will contribute to increased production volumes from the second quarter of the current financial year.

The company also reported that the third phase of capacity expansion at its Dolvi site, from 10 million to 15 million tonnes per annum, is progressing successfully, with construction work and equipment installation ongoing, due to be completed by September 2027.

JSW Steel’s consolidated sales of steel products in April–June were reportedly the highest ever recorded for a first quarter – 6.25 million tonnes: although this figure is 12% lower quarter-on-quarter, it is 4% higher year-on-year.

Sales of flat steel and value-added speciality products in the first quarter of the 2026/2027 financial year rose by 9% and 8% year-on-year, respectively.

Net profit for the period more than doubled compared with the same period last year, reaching 46.5 billion rupees ($483 million).

JSW Steel’s raw material costs in April–June rose by 18% year-on-year – to 245.9 billion rupees, as the cost of coal and iron ore increased.

It is worth noting that JSW Steel expects to require minimal external capital to support its plans to double capacity in India. The company also noted that the European CBAM will have little impact on it, as 90% of its sales are in the domestic market.