JSWHL

JSW Steel posted 9% YoY revenue growth in Q1 FY26, supported by higher domestic demand and product mix improvement. Margins remained stable at 15%, while the company continues deleveraging. Capacity expansion to 38 MTPA will boost volumes ahead. At ~13x FY26 EPS, valuations are attractive. JSW Steel remains a key beneficiary of India’s infrastructure and housing-led demand cycle.