JSW Steel Faces ₹1,473 Cr Demand Notice Amid Strong Q1 Earnings Growth

has received a demand notice of ₹1,472.69 crore from the Odisha government over the Jajang iron ore block in Keonjhar, related to a shortfall in despatch for the fifth year of its lease (June 2024–June 2025). The company, which had surrendered the block citing uneconomic operations with mining ceasing in December 2024, plans to explore legal remedies against the order. Despite this development, JSW delivered a robust Q1 performance with net profit rising to ₹2,184 crore from ₹845 crore last year, aided by a ₹1,400 crore drop in expenses to ₹40,325 crore. Revenue remained steady at ₹43,147 crore, while EBITDA grew 37.5% to ₹7,576 crore, lifting margins to 17.56% from 12.83%. However, net debt increased to ₹79,850 crore, up ₹3,287 crore from March, pushing net debt-to-EBITDA to 3.2x. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.