JSW Steel Limited reported its consolidated crude steel production for the first quarter of the financial year 2025-26 (Q1 FY26) at 7.26 million tonnes (Mnt). This represents a significant year-on-year increase of 14% compared to Q1 FY25. However, the production saw a 5% quarter-on-quarter decline, primarily attributed to planned maintenance shutdowns of blast furnaces during the quarter.
| Particulars | Q1 FY26 | Q4 FY25 | QoQ Change | Q1 FY25 | YoY Change |
|---|---|---|---|---|---|
| Indian Operations | 7.02 | 7.40* | -5% | 6.12 | +15% |
| JSW Steel USA - Ohio | 0.24 | 0.23 | +4.3% | 0.23 | +4.3% |
| Consolidated Production | 7.26 | 7.63 | -5% | 6.35 | +14% |
*Including Trial run production of 0.21 Mnt in Q4 FY25
Production Highlights
The company's consolidated crude steel production for Q1 FY26 stood at 7.26 Mnt, marking a robust 14% growth when compared to the 6.35 Mnt produced in Q1 FY25. This strong year-on-year performance underscores the company's expanding operational capabilities and market presence. The quarter-on-quarter comparison, however, showed a 5% decrease from 7.63 Mnt in Q4 FY25. This reduction was a result of strategic planned maintenance activities undertaken on blast furnaces during the period.
Indian Operations contributed significantly to the overall production, recording 7.02 Mnt in Q1 FY26. This figure represents a 15% year-on-year increase from 6.12 Mnt in Q1 FY25. Similar to the consolidated figures, Indian Operations also experienced a 5% quarter-on-quarter dip from 7.40 Mnt in Q4 FY25, which included 0.21 Mnt from trial run production. The capacity utilisation at JSW Steel's Indian Operations for Q1 FY26 was reported at 87%.
JSW Steel USA - Ohio maintained a consistent production level, reporting 0.24 Mnt in Q1 FY26, a slight increase from 0.23 Mnt in both Q4 FY25 and Q1 FY25.
The company clarified that the quarter-on-quarter decline in production was a planned measure. Following the completion of these maintenance shutdowns, the blast furnaces have been successfully restarted and are now operating at optimal capacity levels. This indicates a proactive approach to asset management, ensuring long-term operational efficiency and reliability.
JSW Steel is the flagship business of the diversified US$ 23 billion JSW Group, which holds interests across various sectors including energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital. Over the past three decades, JSW Steel has evolved from a single manufacturing unit into India's leading integrated steel company. It boasts a consolidated crude steel capacity of 35.7 MTPA, which includes 1.5 MTPA in the US. The domestic crude steel capacity stands at 34.2 MTPA, with an additional 1.7 MTPA currently under commissioning. The company has ambitious growth plans, aiming to expand its consolidated capacity to 43.4 MTPA over the next three years.
The Vijayanagar plant in Karnataka is JSW Steel's largest single-location steel-producing facility in India, with a current capacity of 17.5 MTPA, including 1.7 MTPA under commissioning. JSW Steel emphasizes research and innovation, maintaining a strategic collaboration with JFE Steel of Japan to access advanced technologies for producing high-value special steel products. These products cater to diverse industries such as construction, infrastructure, automobile, electrical applications, and appliances.
The company is also recognized for its commitment to sustainability, having been a World Steel Association's Steel Sustainability Champion for seven consecutive years (2019-2025). It has achieved Leadership Rating (A-) in CDP climate change disclosure and A in CDP Water Disclosure (2023). JSW Steel's facilities at Vijayanagar (2018) and Salem (2019) have received the Deming Prize for TQM. The company is part of the Dow Jones World and Emerging Markets Sustainability Indices (DJSI) and ranks among the top 5% of the S&P Global CSA Score 2024, securing the 2nd position among global steel companies.
Furthermore, four of JSW Steel's operations are Responsible Steel Certified, covering over 80% of its domestic crude steel production. Its Sustainable Energy Environment & Decarbonisation (SEED) project was recognized at COP28. JSW Steel is ranked 8th among the top 35 world-class steelmakers by World Steel Dynamics (WSD). The company's CO2 emission reduction goals align with India's climate change commitments under the Paris Accord, aiming for a 42% reduction in steel-making operations by 2030 and net neutrality in carbon emissions for all direct operations by 2050. JSW Steel also targets powering steel-making operations entirely by renewable energy by 2030, achieving no net-loss in biodiversity at operating sites by 2030, improving air quality, reducing water consumption, and maintaining Zero Liquid Discharge.
The reported production figures, particularly the strong year-on-year growth, reflect JSW Steel's robust operational performance and its ability to scale production effectively. While the quarter-on-quarter dip was due to planned maintenance, the company's swift restart of operations at optimal levels suggests minimal long-term disruption. These figures provide key insights into the company's operational health and its capacity to meet market demand, reinforcing its position as a leading player in the steel industry.
JSW Steel USA - Ohio maintained a consistent production level, reporting 0.24 Mnt in Q1 FY26, a slight increase from 0.23 Mnt in both Q4 FY25 and Q1 FY25.
Operational Details
The company clarified that the quarter-on-quarter decline in production was a planned measure. Following the completion of these maintenance shutdowns, the blast furnaces have been successfully restarted and are now operating at optimal capacity levels. This indicates a proactive approach to asset management, ensuring long-term operational efficiency and reliability.
Company Profile and Strategic Initiatives
JSW Steel is the flagship business of the diversified US$ 23 billion JSW Group, which holds interests across various sectors including energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital. Over the past three decades, JSW Steel has evolved from a single manufacturing unit into India's leading integrated steel company. It boasts a consolidated crude steel capacity of 35.7 MTPA, which includes 1.5 MTPA in the US. The domestic crude steel capacity stands at 34.2 MTPA, with an additional 1.7 MTPA currently under commissioning. The company has ambitious growth plans, aiming to expand its consolidated capacity to 43.4 MTPA over the next three years.
The Vijayanagar plant in Karnataka is JSW Steel's largest single-location steel-producing facility in India, with a current capacity of 17.5 MTPA, including 1.7 MTPA under commissioning. JSW Steel emphasizes research and innovation, maintaining a strategic collaboration with JFE Steel of Japan to access advanced technologies for producing high-value special steel products. These products cater to diverse industries such as construction, infrastructure, automobile, electrical applications, and appliances.
The company is also recognized for its commitment to sustainability, having been a World Steel Association's Steel Sustainability Champion for seven consecutive years (2019-2025). It has achieved Leadership Rating (A-) in CDP climate change disclosure and A in CDP Water Disclosure (2023). JSW Steel's facilities at Vijayanagar (2018) and Salem (2019) have received the Deming Prize for TQM. The company is part of the Dow Jones World and Emerging Markets Sustainability Indices (DJSI) and ranks among the top 5% of the S&P Global CSA Score 2024, securing the 2nd position among global steel companies.
Furthermore, four of JSW Steel's operations are Responsible Steel Certified, covering over 80% of its domestic crude steel production. Its Sustainable Energy Environment & Decarbonisation (SEED) project was recognized at COP28. JSW Steel is ranked 8th among the top 35 world-class steelmakers by World Steel Dynamics (WSD). The company's CO2 emission reduction goals align with India's climate change commitments under the Paris Accord, aiming for a 42% reduction in steel-making operations by 2030 and net neutrality in carbon emissions for all direct operations by 2050. JSW Steel also targets powering steel-making operations entirely by renewable energy by 2030, achieving no net-loss in biodiversity at operating sites by 2030, improving air quality, reducing water consumption, and maintaining Zero Liquid Discharge.
Market Impact
The reported production figures, particularly the strong year-on-year growth, reflect JSW Steel's robust operational performance and its ability to scale production effectively. While the quarter-on-quarter dip was due to planned maintenance, the company's swift restart of operations at optimal levels suggests minimal long-term disruption. These figures provide key insights into the company's operational health and its capacity to meet market demand, reinforcing its position as a leading player in the steel industry.
