JSW STEEL Results Analysis-Q1FY27

Financial performance and key operating metrics (consolidated) Operating Revenue for Q1FY27 is Rs. 47,364 Crs., 9.77% growth YoY, Total Income is Rs. 48,088 Crs., 10.55% growth YoY, Gross Profit is Rs. 23,249 Crs., 5.63% growth YoY, EBITDA is Rs. 9,383 Crs., 23.85% growth YoY, EBITDA Margin is 19.81% improved by 225 Basis points YoY, PBT Rs. 6,160 Crs. 100.52% growth YoY, PAT Rs. 4,696 Crs. 112.58% growth YoY. On QoQ basis Op. Revenue is down by 7.46%, Total Income is down by 6.66%, Gross Profit is down by 5.25%, But EBITDA is up by 8.68%, PBT is down by 72.47% and PAT is also down by 75.6% (due to exceptional gains of Rs. 17,888 Cr. in Mar-2026. Consolidated crude steel production of 6.59 mt, up 3% YoY and 2% QoQ, affected by shutdown of BF-3 in Vijayanagar. Capacity utilisation of 94% (excl. Vijayanagar BF-3) at Indian operations Total sales volumes of 6.25 mt, up 4% YoY and down 12% QoQ. JSW JFE JV: 2nd tranche of ₹7,875 crore equity investment received from JFE on 30th June, 2026. Credit Rating: Upgraded by Fitch from BB to BB+ (Positive Outlook) and by CARE Ratings from AA to AA+.