JSW Steel’s Q2FY25 Results

• JSW Steel reported an 8% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, it witnessed a decline of 11%.
• Its expenses for the quarter were down by 7% QoQ and 5% YoY.
• The net profit reduced 53% QoQ and 85% YoY.
• The earnings per share (EPS) of JSW Steel stood at 1.8 during Q2FY25.

JSW Steel’s Financial Statements for Q2FY25:

Financials:

H2 2024-2025 Results Summary

● Crude Steel Production: 6.77 million tonnes ● Saleable Steel Sales: 6.13* million tonnes ● Revenue from Operations: ₹39,684 crores ● Operating EBITDA: ₹5,437 crores ● Net Profit after Tax: ₹404 crores ● Net Debt to Equity: 1.04x ● Net Debt to EBITDA: 3.51x (*Including 0.03% Mnt Sales from trail run)

Management Commentary:

The management

• A sharp fall in realisation offset by lower costs (lower mining royalty expense and other expenses).
• The company reported a beat in standalone business, while subsidiaries and overseas operations struggle.
• The capacity utilisation at the Indian operations improved to 91% during the quarter, post completion of planned maintenance shutdowns at Dolvi and BPSL in the last quarter.
• JSW Steel's's consolidated capex spend during the second quarter of FY25 was ₹3,384 crore. Total spend for the first half of the fiscal was ₹7,850 crore.
• The company expects its consolidated capex for FY25 to be ₹16,000-17,000 crore as against an estimate of ₹20,000 crore.
• Shares of JSW Steel Ltd. are currently trading 2% lower at ₹939.55. The stock is up 7% so far in 2024.

Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results