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JSW Steel Q2 Results FY24-25: Revenue at ₹39,684 Cr with Net Profit of ₹404 Cr

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Synopsis:

JSW Steel has reported its consolidated Q2 FY24-25 financial results with a revenue of ₹39,684 crore and a net profit of ₹404 crore. The steel giant achieved a 7% year-on-year growth in production, maintaining robust operational performance despite market challenges.

Key Highlights

  • Revenue: ₹39,684 Cr (Q2 FY24-25) in Q2
  • Operating EBITDA: ₹5,437 Cr in Q2
  • Net Profit: ₹404 Cr in Q2
  • Debt Ratios: Net Debt to Equity at 1.04x, Net Debt to EBITDA at 3.51x
  • Production: 6.77 million tonnes of crude steel, up 7% YoY

JSW STEEL LIMITED

Trade

937.0519.70 (2.14 %)

Updated - 23 December 2024
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Quarterly - JSW Steel Q2 Results FY24-25

JSW Steel achieved a consolidated revenue of ₹39,684 crore, experiencing some pressure on margins due to a 7% YoY decrease in net sales realization. Operating EBITDA stood at ₹5,437 crore, supported by lower coking coal prices, offsetting fluctuations in iron ore costs.

Detailed Financial Table

Financial Metric

Q2 FY25

Q2 FY24

YoY % Change

Revenue from Operations

₹39,684 Cr

₹44,584 Cr

-11%

Operating EBITDA

₹5,437 Cr

₹7,886 Cr

-31%

Profit After Tax (PAT)

₹404 Cr

₹2,773 Cr

-85%

Finance Costs

₹2,130 Cr

₹2,084 Cr

+2%

Depreciation

₹2,267 Cr

₹2,019 Cr

+12%

Net Debt

₹85,098 Cr

₹69,195 Cr

+23%

Net Debt to EBITDA Ratio

3.51x

2.52x

-

Segment Highlights

  • Indian Operations: The Indian segment maintained a strong performance with 5.96 million tonnes in sales and 6.63 million tonnes in crude steel production. Domestic sales saw a 7% increase YoY, while export levels fell sharply.
  • USA Operations: Although production in Ohio remained steady, the segment faced challenges due to lower prices and an unplanned maintenance shutdown.
  • Europe Operations: In Italy, both production and sales were impacted by market conditions, resulting in lower revenue and EBITDA.

Sector Expectations for JSW Steel Q2 Results FY24-25

Amid fluctuating global steel prices, JSW Steel’s results underscore its ability to adapt to sector pressures. The steel industry faced continued raw material cost pressures and lower export demand; however, JSW’s effective cost management and focus on sustainability initiatives set it apart in the competitive landscape. Compared to industry averages, JSW Steel’s production increase highlights its operational efficiency.

Management Commentary

JSW Steel’s leadership expressed confidence in sustaining production growth and enhancing market share. The management highlighted recent operational upgrades, including BPSL's phase-II expansion and the Vijayanagar blast furnace commissioning. Additionally, the acquisition of thyssenkrupp Electrical Steel India and long-term coking coal linkages indicate JSW’s proactive steps to strengthen supply chains.

Check out JSW Steel's past performances in previous quarters and financial years. 

Conclusion

JSW Steel’s Q2 FY24-25 performance reflects its resilience in a challenging market environment, emphasizing operational efficiencies and strategic investments. Despite a decrease in profit and revenue from the previous year, the company’s growth in production and capacity utilization showcase its commitment to sustaining momentum in a volatile sector. JSW’s strategic moves, such as expansions and acquisitions, underscore its focus on long-term growth and market leadership.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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