JSW Steel Q3 profit jumps 58% as margins expand; 9M FY26 earnings up 109%
Summary:
-
JSW Steel’s consolidated net profit rose to Rs 2,058 crore in Q3 FY26 from Rs 1,304 crore in Q3 FY25, lifting 9M FY26 profit to Rs 5,941 crore, more than double the prior-year period.
-
Consolidated revenue from operations grew 11% year-on-year to Rs 45,991 crore in Q3, with 9M FY26 revenue up 8% to Rs 1,34,290 crore, supported by higher volumes and value-added product mix.
-
Operating EBITDA margin improved to about 14–16% in Q3 and over 15% for 9M FY26, reflecting better steel spreads and continued cost optimisation.
-
On a standalone basis, JSW Steel’s Q3 net profit came in at Rs 757 crore versus Rs 1,286 crore a year earlier, as exceptional items of Rs 338 crore related mainly to India’s new labour codes weighed on bottom line.
-
The group maintained a leveraged but stable balance sheet with a consolidated debt-to-equity ratio around 1.1x and interest cover above 3x, while progressing multiple amalgamations and a planned BPSL steel business JV with JFE Steel.