JSW Steel Share Price Gains After Q1 Profit Doubles

JSW Steel share price closed 1.43% higher at ₹1,238.35 on the BSE on Friday after the company reported a Q1 FY27 consolidated net profit of ₹4,696 crore, more than double last year’s ₹2,209 crore, driven by higher margins, record sales and stronger other income.

JSW Steel Share Price Movement

Stock Performance

Metric	Value
Close (BSE)	₹1,238.35
Day Change	+1.43%
Intraday High (NSE)	₹1,242.60
Net Profit Q1 FY27	₹4,696 crore
Net Profit Q1 FY26	₹2,209 crore

• JSW Steel shares ended at ₹1,238.35 on the BSE.
• The stock gained 1.43% on the day of the Q1 FY27 results.
• On the NSE, the share price touched an intraday high of ₹1,242.60.
• The move followed a more than twofold jump in quarterly net profit.
• Earnings beat and margin expansion supported the share performance.

Why The Stock Moved

Key Event

Item	Details
Event	Q1 FY27 earnings announcement
Net Profit	₹4,696 crore
YoY Net Profit Change	+112.7% approx
Revenue From Operations	₹47,364 crore
EBITDA	₹9,383 crore
EBITDA Margin	19.81%

• Q1 FY27 net profit rose from ₹2,209 crore to ₹4,696 crore.
• Revenue from operations increased 9.8% year on year to ₹47,364 crore.
• EBITDA grew 24% to ₹9,383 crore, lifting profitability.
• EBITDA margin expanded to 19.81% from 17.56% a year earlier.
• Higher steel realisations, record sales and efficiency gains aided results.

Financial Highlights

Financial Performance

Metric	Q1 FY27	Q1 FY26
Revenue From Operations	₹47,364 crore	₹43,147 crore
Total Income	₹48,088 crore	₹43,497 crore
Total Expenses	₹41,830 crore	₹40,325 crore
EBITDA	₹9,383 crore	₹7,568 crore*
EBITDA Margin	19.81%	17.56%
Net Profit	₹4,696 crore	₹2,209 crore
Other Income	₹724 crore	₹350 crore

*Derived from margin and revenue data provided.

• Revenue from operations rose 9.8% year on year to ₹47,364 crore.
• Total income increased to ₹48,088 crore from ₹43,497 crore.
• Expenses grew modestly to ₹41,830 crore, supporting margin expansion.
• EBITDA climbed 24% to ₹9,383 crore, improving operating profitability.
• EBITDA margin widened by 225 basis points to 19.81%.
• Other income nearly doubled to ₹724 crore from ₹350 crore.
• Net profit more than doubled, driven by stronger operations and income.

Operational Performance

Production And Sales

Metric	Q1 FY27	Q1 FY26
Crude Steel Production	6.59 million tonnes	6.38 million tonnes
Production Growth YoY	3%	–
Steel Sales (Total)	6.25 million tonnes	6.01 million tonnes*
Steel Sales Growth YoY	4%	–
Domestic Sales	5.34 million tonnes	–

*Approximate, based on 4% growth cited.

• Crude steel output rose 3% year on year to 6.59 million tonnes.
• Production increased 2% sequentially versus the March quarter.
• Adjusting for a prior blast furnace shutdown, production growth was 15%.
• Steel sales reached a record 6.25 million tonnes for any first quarter.
• Sales volumes grew 4% year on year, led by value-added and flat products.
• Domestic sales stood at 5.34 million tonnes in the June quarter.
• Institutional, auto, renewable energy and appliances segments saw record Q1 sales.

Balance Sheet And Leverage

Debt Metrics

Metric	Q1 FY27 End	Q4 FY26 End
Net Debt	₹46,157 crore	₹53,870 crore*
Net Debt Change	-₹7,713 crore	–
Net Debt to Equity	0.42x	0.51x
Net Debt to EBITDA	1.46x	1.81x

*Derived from reported reduction.

• Net debt declined by ₹7,713 crore during the quarter to ₹46,157 crore.
• Net debt to equity improved to 0.42 times from 0.51 times.
• Net debt to EBITDA fell to 1.46 times from 1.81 times.
• Lower leverage improves JSW Steel’s financial flexibility.
• Debt reduction accompanied higher profitability and cash generation.

Capacity Expansion

Key Event

Item	Details
Project	New steel plant in Andhra Pradesh
Capacity	2 million tonnes per annum
Investment	Over ₹16,350 crore
Status	Construction commenced in Q1 FY27

• JSW Steel started building a 2 MTPA steel plant in Andhra Pradesh.
• The project involves an investment exceeding ₹16,350 crore.
• The new unit is part of the company’s ongoing capacity expansion plan.
• The plant is expected to support rising domestic steel demand.
• The project reflects JSW Steel’s growth-focused capital allocation.

JSW One Platforms IPO Participation

Key Corporate Event

Item	Details
Event	Proposed IPO of JSW One Platforms Ltd
JSW Steel Role	Promoter selling shareholder
Offer For Sale Size	Up to ₹811 crore
Purpose	Partial monetisation of investment
Conditions	Regulatory approvals and market conditions

• The board approved JSW Steel’s participation in JSW One Platforms’ IPO.
• JSW Steel plans to sell shares worth up to ₹811 crore via OFS.
• The company will remain a shareholder in the digital B2B platform.
• Final issue price and IPO structure will follow SEBI regulations.
• The stake sale provides an additional avenue to unlock value.

Business Context

Company Profile

Aspect	Details
Group	JSW Group
Sector	Integrated steel manufacturing
Position	Among India’s leading steel producers
Key Focus Areas	Value-added products, flat steel, domestic demand

• JSW Steel is part of the diversified JSW Group.
• The company is one of India’s largest integrated steel producers.
• It focuses on value-added and special products and flat steel.
• Domestic institutional and auto sector demand is a key driver.
• Capacity expansion and deleveraging remain strategic priorities.

What Investors Are Watching

Upcoming Catalysts

Item	Details
Next Key Event	Q2 FY27 results
Strategic Projects	Andhra Pradesh plant construction progress
Corporate Action	JSW One Platforms IPO timeline
Focus Areas	Margins, volumes, leverage, capital expenditure

• Investors will track sustainability of the 19.81% EBITDA margin.
• Volume growth in value-added and special products remains in focus.
• Progress on the Andhra Pradesh plant will be closely monitored.
• The timing and valuation of JSW One Platforms’ IPO are key watchpoints.
• Upcoming quarterly results will show whether current earnings trends continue.

Frequently Asked Questions

Why did JSW Steel share price rise today?

JSW Steel share price moved higher after the company reported strong Q1 FY27 earnings. Consolidated net profit more than doubled to ₹4,696 crore from ₹2,209 crore a year earlier, supported by a 9.8% rise in revenue, margin expansion to 19.81%, record first-quarter steel sales and lower leverage. The board’s approval to participate as a selling shareholder in the proposed IPO of JSW One Platforms also added a corporate catalyst for investors.

How did JSW Steel perform financially in Q1 FY27?

In Q1 FY27, JSW Steel’s revenue from operations increased 9.8% year on year to ₹47,364 crore, while total income rose to ₹48,088 crore. EBITDA grew 24% to ₹9,383 crore and the EBITDA margin expanded to 19.81% from 17.56%. Other income nearly doubled to ₹724 crore. Net profit more than doubled to ₹4,696 crore compared with ₹2,209 crore in Q1 FY26, showing stronger operating performance and higher income.

What strategic initiatives did JSW Steel announce along with Q1 results?

Alongside its Q1 FY27 results, JSW Steel announced two initiatives. It commenced construction of a new 2 million tonne per annum steel plant in Andhra Pradesh, involving an investment of over ₹16,350 crore, as part of its capacity expansion strategy. The board also approved JSW Steel’s participation as a promoter selling shareholder in the proposed IPO of JSW One Platforms, with plans to sell shares worth up to ₹811 crore through an offer for sale, subject to approvals.