JSW Steel Limited — PPTs, 23-05-2025: Investor Presentation

1. Financial Highlights:

JSW Steel posted ₹44,819 crore revenue in Q4 and ₹1,68,824 crore for FY25. Operating EBITDA was ₹6,378 crore in Q4 and ₹22,904 crore FY25, reflecting margin pressures. Net profit came in at ₹1,501 crore for Q4 and ₹3,491 crore for the year. Net debt to equity remained stable at 0.94x, net debt to EBITDA at 3.34x, backed by ₹19,394 crore cash liquidity. Indian operations delivered strong profitability with ₹6,436 crore EBITDA in Q4 and ₹22,908 crore FY25. Crude steel production rose 12% YoY in Q4 to 7.63mt and 5% for FY25 at 27.79mt. Domestic steel sales surged 30% YoY in Q4, the highest ever, and 15% YoY for FY25.

2. Strategic Initiatives & Growth Drivers:

JVML Blast Furnace utilization crossed 90%. Capacity expansions continue with Vijayanagar’s 5mtpa addition and Dolvi’s phase-III upgrade from 10 to 15 mtpa in progress. FY26 capex is guided at ₹20,000 crore for brownfield expansions, value-added steel, and sustainability projects. Digitalisation efforts span mining to sales, boosting efficiency, safety, and emissions reduction.

3. Business Developments:

JSW One digital marketplace for MSMEs grew GMV 2.4x YoY to ₹12,567 crore, supported by higher credit penetration. Over 100 new steel grades/products launched, including specialty alloys targeting automotive and defense sectors. Achieved significant sustainability certifications and launched a ‘Low Emission Steel’ brand.

4. Market Position & Competitive Advantage:

Maintains 93% capacity utilization in India and leadership in value-added steel (62% of Indian sales). Scale, product diversity, and raw material security strengthen competitive edge. Named Sustainability Champion 7 years running by World Steel Association, leveraging ESG and technology for differentiation.

5. Investor Implications:

Robust volume growth and domestic demand recovery suggest positive growth potential, backed by strategic expansions and product innovation. Leverage stability and strong cash enhance risk management. Execution risk linked to ramp-up phases and margin pressures amid raw material cost swings. Sustainability initiatives present long-term value aligned with low-carbon steel trends.