JSW Steel Ltd. reported a steady operational performance for the fourth quarter and full year ended March 31, 2025, driven by strong domestic demand, higher capacity utilisation, and continued ramp-up of new facilities. Despite facing pricing pressures and muted international performance, the company achieved its highest-ever quarterly and annual domestic sales and posted healthy gains in production and profitability.

For Q4FY25, revenue from operations stood at ₹44,819 crores, down 3% year-on-year, but up 8% quarter-on-quarter owing to stronger volumes. Operating EBITDA for the quarter rose to ₹6,378 crores, reflecting a margin improvement driven by lower coking coal and power costs. Net profit rose to ₹1,501 crores from ₹1,322 crores a year ago. Crude steel production came in at 7.63 million tonnes, up 12% YoY, while sales volumes rose 11% to 7.49 million tonnes, with domestic sales rising 30%.

The full-year picture showed revenue of ₹1,68,824 crores, down from ₹1,75,006 crores in FY24, largely due to lower steel prices globally. However, sales volumes rose 7% to 26.45 million tonnes, with domestic sales growing 15% year-on-year to hit a new record. Net profit for FY25 stood at ₹3,491 crores, significantly lower than the ₹8,973 crores recorded in FY24, reflecting margin compression and exceptional items.

JSW Steel’s India domestic sales were a bright spot, contributing 92% of Indian operations’ total volume in Q4, as the company continued to deepen its distribution network. Retail sales rose 25% YoY in Q4

The company’s international operations were mixed. While US operations improved sequentially due to better pricing and cost efficiencies, the Italy business remained under pressure due to lower volumes and weak pricing. The US plate and pipe mills posted modest gains, but overall, the international EBITDA contribution was subdued.

JSW Steel’s board approved raising up to ₹7,000 crores via Qualified Institutions Placement (QIP), including NCDs with warrants or convertible securities, subject to shareholder approval. A separate ₹5,000 crores NCD issuance was also cleared to refinance short-term debt and support capex and working capital needs.

JSW Steel also announced a final dividend of ₹2.80 per share. The record date for the same is Tuesday, July 8, 2025.

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