JSW Steel Ltd. Q1 FY2026 results: revenue ₹43,147 crore, up 0.5% on the year
JSW Steel Ltd. (JSWSTEEL) reported consolidated revenue from operations of ₹43,147 crore for Q1 FY2026, the quarter ended 30 June 2025, up 0.5% on the same quarter a year earlier. Profit after tax was ₹2,209 crore, up 154.8% on the year, and earnings per share ₹8.95. The figures are the company's own, from the un-audited results it filed with NSE on 18 July 2025.
The quarter, against the one before and a year earlier
| Line | Q1 FY2026 | Q3 FY2025 | Q1 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 43,147 | 41,378 | 42,943 | +0.5% |
| Other income | 350 | 147 | 164 | +113.4% |
| Total income | 43,497 | 41,525 | 43,107 | +0.9% |
| Cost of materials consumed | 20,762 | 22,123 | 21,463 | -3.3% |
| Purchases of stock-in-trade | 554 | 109 | 71 | +680.3% |
| Changes in inventories | -179 | 258 | 1,000 | n/a |
| Employee benefit expense | 1,318 | 1,149 | 1,248 | +5.6% |
| Finance costs | 2,217 | 2,115 | 2,073 | +6.9% |
| Depreciation, depletion and amortisation | 2,537 | 2,336 | 2,209 | +14.8% |
| Other expenses | 7,131 | 12,160 | 13,651 | -47.8% |
| Total expenses | 40,325 | 40,250 | 41,715 | -3.3% |
| Profit before exceptional items and tax | 3,172 | 1,275 | 1,392 | +127.9% |
| Exceptional items | 0 | -103 | 0 | n/a |
| Profit before tax | 3,172 | 1,172 | 1,392 | +127.9% |
| Current tax | 793 | 149 | 448 | +77.0% |
| Deferred tax | 70 | 310 | 65 | +7.7% |
| Total tax | 863 | 459 | 513 | +68.2% |
| Profit after tax | 2,209 | 719 | 867 | +154.8% |
| Attributable to owners of the parent | 2,184 | 717 | 845 | +158.5% |
| Other comprehensive income | -66 | -1,391 | 2,182 | n/a |
| Total comprehensive income | 2,143 | -672 | 3,049 | -29.7% |
| EPS, basic | ₹8.95 | ₹2.94 | ₹3.47 | +157.9% |
| EPS, diluted | ₹8.93 | ₹2.93 | ₹3.45 | +158.8% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q1 FY2026 | Q3 FY2025 | Q1 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 0.01 | 0.01 | 0.01 | |
| Debt service coverage | 0.02 | 0.02 | 0.01 | |
| Interest service coverage | 0.04 | 0.03 | 0.03 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Quarterly results, the last 12 quarters
| Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 42,213 | 44,584 | 41,940 | 46,269 | 42,943 | 39,684 | 41,378 | 43,147 | 45,152 | 45,991 | 51,180 | 47,364 |
| Expenses | 39,030 | 40,801 | 38,815 | 44,401 | 41,715 | 38,644 | 40,250 | 40,325 | 43,004 | 44,161 | 46,862 | 41,830 |
| Operating profit | 7,046 | 7,886 | 7,180 | 6,124 | 5,510 | 5,437 | 5,579 | 7,576 | 7,115 | 6,496 | 8,634 | 9,383 |
| OPM % | 17% | 18% | 17% | 13% | 13% | 14% | 13% | 18% | 16% | 14% | 17% | 20% |
| Other income | 331 | 237 | 194 | 242 | 164 | 153 | 147 | 350 | 284 | 273 | 341 | 724 |
| Interest | 1,963 | 2,084 | 1,996 | 2,062 | 2,073 | 2,130 | 2,115 | 2,217 | 2,413 | 2,304 | 2,168 | 1,712 |
| Depreciation | 1,900 | 2,019 | 2,059 | 2,194 | 2,209 | 2,267 | 2,336 | 2,537 | 2,554 | 2,362 | 2,148 | 2,137 |
| Exceptional items | 0 | 589 | 0 | 0 | 0 | -342 | -103 | 0 | 0 | -529 | 17,888 | 0 |
| Profit before tax | 3,514 | 4,609 | 3,319 | 2,110 | 1,392 | 851 | 1,172 | 3,172 | 2,432 | 1,574 | 22,547 | 6,258 |
| Tax % | 30% | 39% | 26% | 33% | 37% | 45% | 39% | 27% | 29% | -61% | 14% | 23% |
| Net profit | 2,428 | 2,773 | 2,450 | 1,322 | 867 | 404 | 719 | 2,209 | 1,646 | 2,410 | 19,243 | 4,696 |
| EPS in ₹ | ₹9.72 | ₹11.38 | ₹9.92 | ₹5.33 | ₹3.47 | ₹1.80 | ₹2.94 | ₹8.95 | ₹6.66 | ₹8.76 | ₹67.07 | ₹19.05 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 30 June 2025, filed with NSE on 18 July 2025: the result statement. All of JSW Steel Ltd.'s results: NSE company page.
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