JSW Steel earmarks Rs 20,000 crore capex for FY25

The company sees consolidated crude steel production of 27.40 million tonnes from India operations in FY25.

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26 Aug, 2025 12:21

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JSW Steel will spend Rs 20,000 crore in the financial year 2024-24 amid  the steelmaker's ambitious target to scale up its capacities to 50 million tonnes by FY31.

The company had pegged FY24 capex Rs 20,000 crore but revised it earlier in the year to Rs 18,000 crore, citing a timing issue and flagged that the  balance capex amount would be passed on to the next financial year.

JSW Steel expects to spend Rs 23,000 crore in FY26 and Rs 21,434 crore in FY27. It spent Rs 16,752 crore in FY24.

The company stated its consolidated capex as Rs 64,434 crore, with Rs 19,125 crore set aside for Dolvi Phase-III project and Rs 4,665 for growth, mining projects, Italy Rail Mill modernisation, according to an investor presentation from May 17.

The company sees consolidated crude steel production of 27.40 million tonnes from India operations in FY25.

At Dolvi, the company is increasing steel-making capacity by 5 metric tonnes per annum (mtpa) , taking total capacity to 15 MTPA. The expansion expected to be completed by Sep’27.

"The focus on infrastructure development continues, with central government capex increasing by 36.5% during Apr-Feb’2024. Rising utilisation levels and healthy balance sheets are expected to boost private capex, with investments in energy transition and the government’s Production-Linked Incentive scheme adding tailwinds," the company said in a statement.

Also read; JSW Steel to buy 92.2% stake in Mozambique-based mining firm for $73.8mln

Meanwhile, the board  has approved raising funds upto Rs 7,000 crore through non-convertible debentures (NCDs) with warrants, equity or convertible shares, amid expansion plans of the steelmaker to capture the booming domestic demand.

JSW Steel's net profit (attributable to owners) plunged 64.5 percent to Rs 1,299 crore in the quarter ended March 31, 2024, due to higher coking coal prices and lower realizations hit by weaker domestic steel prices.