JSW Steel quarterly results and financials

JSW Steel (JSWSTEEL)₹1,347−0.30%(9 Nov 2026 close)Iron & Steel

Key facts

In the Sep 2026 quarter (consolidated), JSW Steel reported sales of ₹54,600 Cr, up 20.5% from Sep 2025, and net profit of ₹5,342 Cr, up 225.4% year on year. For the year to Mar 2026, sales were ₹1.86 L Cr and net profit ₹25,429 Cr.

Sales (Sep 2026): ₹54,600 Cr
Net profit (Sep 2026): ₹5,342 Cr
Sales (FY Mar 2026): ₹1.86 L Cr
Net profit (FY Mar 2026): ₹25,429 Cr
EPS (Sep 2026): ₹21.58
Borrowings (Mar 2026): ₹99,431 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

JSW Steel quarterly results

₹ crore unless stated; each column is a quarter.

JSW Steel Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	42,028	46,370	43,053	39,767	41,490	44,944	43,280	45,298	46,124	51,291	47,519	54,600
Expenses	34,664	40,114	37,296	34,198	35,666	38,536	35,569	37,972	39,459	42,579	37,937	44,223
Operating Profit	7,150	6,014	5,491	5,368	5,567	6,128	7,470	7,015	6,364	8,449	9,274	10,102
OPM %	17.1%	13.0%	13.0%	14.1%	13.1%	14.1%	17.0%	16.0%	14.1%	17.1%	20.1%	19.1%
Other Income	194	242	164	−189	50.03	186	350	284	−256	18,232	724	733
Interest	1,990	2,057	2,067	2,125	2,109	2,089	2,210	2,405	2,296	2,163	1,706	1,598
Depreciation	2,063	2,199	2,213	2,273	2,343	2,504	2,545	2,560	2,369	2,153	2,140	2,205
Profit before tax	3,302	2,012	1,378	788	1,177	1,727	3,068	2,342	1,455	22,362	6,156	7,040
Tax %	26.1%	34.1%	37.1%	49.1%	39.1%	13.1%	28.1%	30.1%	−64.9%	14.1%	24.1%	24.1%
Exceptional items	0.00	0.00	0.00	−171	−63.11	−24.06	0.00	0.00	−388	15,417	0.00	0.00
Net Profit	2,443	1,317	864	403	716	1,497	2,201	1,641	2,404	19,184	4,681	5,342
EPS (Rs)	9.86	5.30	3.45	1.79	2.92	6.14	8.92	6.63	8.74	66.83	19.00	21.58

JSW Steel profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

JSW Steel Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	41,681	55,726	72,179	84,998	73,532	80,104	1,46,814	1,66,384	1,75,388	1,69,295	1,85,874	1,99,534
Expenses	34,991	43,164	56,807	65,640	61,281	59,465	1,06,895	1,46,957	1,46,377	1,45,541	1,55,505	1,64,197
Operating Profit	6,407	12,289	14,884	18,915	11,795	20,142	39,078	18,439	28,101	22,699	29,412	34,189
OPM %	15.1%	22.0%	21.0%	22.1%	16.0%	25.0%	27.0%	11.1%	16.0%	13.1%	16.1%	17.1%
Other Income	−1,966	18.01	−177	196	−289	473	1,602	1,562	1,502	73.10	18,492	19,433
Interest	3,591	3,757	3,688	3,907	4,252	3,943	4,953	6,885	8,084	8,390	9,081	7,763
Depreciation	3,331	3,437	3,394	4,048	4,259	4,693	6,018	7,485	8,191	9,336	9,624	8,867
Profit before tax	−2,467	5,123	7,638	11,159	3,009	11,999	29,709	5,646	13,378	5,069	29,230	37,013
Tax %	−80.0%	33.1%	20.1%	33.1%	−29.9%	34.1%	30.1%	27.0%	33.1%	31.1%	13.1%	—
Exceptional items	−2,075	−86.15	−280	7.01	−571	−74.18	−590	390	371	−379	15,035	15,029
Net Profit	−479	3,457	6,089	7,498	3,906	7,841	20,859	4,124	8,941	3,481	25,429	31,610
EPS (Rs)	−1.38	14.56	25.68	31.55	16.65	32.69	85.45	17.13	36.01	14.31	91.12	116.15
Dividend payout %	−67.0%	19.0%	16.0%	16.0%	15.0%	25.0%	25.0%	25.0%	25.0%	24.0%	10.0%	—

JSW Steel balance sheet

₹ crore, at each year end.

JSW Steel Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	304	301	301	302	301	301	302	302	301	306	306	305
Reserves	22,037	18,697	22,392	27,737	34,531	36,353	45,393	67,162	65,519	77,435	79,307	99,822
Borrowings	38,798	42,232	43,352	39,419	47,433	61,476	66,791	72,332	80,875	88,102	98,790	99,431
Other Liabilities	24,728	20,784	22,130	24,686	32,728	33,960	34,993	57,224	64,261	62,544	62,496	70,594
Total Liabilities	85,867	82,014	88,175	92,144	1,14,993	1,32,091	1,47,480	1,97,020	2,10,957	2,28,386	2,40,899	2,70,153
Fixed Assets	52,285	56,178	58,825	57,928	62,701	62,152	65,000	1,00,092	1,04,623	1,12,629	1,24,605	1,17,255
CWIP	8,292	7,297	4,373	5,968	11,918	27,267	32,675	16,949	22,225	29,742	21,068	22,371
Investments	597	1,191	1,362	1,464	1,887	1,255	7,405	4,925	4,789	7,227	15,172	10,182
Other Assets	24,691	17,350	23,615	26,783	38,487	41,417	42,400	75,054	79,319	78,788	80,053	1,20,345
Inventories	10,991	8,308	11,382	12,580	14,525	13,763	14,224	33,728	33,121	37,762	34,899	32,733
Trade receivables	2,505	2,734	4,156	4,715	7,169	4,512	4,497	7,475	7,149	7,563	8,431	11,286
Cash & equivalents	1,912	1,019	1,483	1,062	6,178	11,980	12,802	17,351	20,698	12,340	13,274	40,933
Total Assets	85,867	82,014	88,175	92,144	1,14,993	1,32,091	1,47,480	1,97,020	2,10,957	2,28,386	2,40,899	2,70,153

JSW Steel cash flow

₹ crore, for each year.

JSW Steel Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	7,870	6,889	7,878	12,372	14,611	12,778	18,814	26,263	23,323	12,064	20,880	25,114
Cash from investing activity	−7,361	−3,850	−5,085	−4,524	−11,367	−19,554	−9,400	−14,726	−10,715	−14,438	−16,983	18,529
Cash from financing activity	−169	−3,157	−2,714	−8,194	1,755	5,194	−1,446	−14,693	−5,991	−5,015	−263	−16,146
Net cash flow	335	−111	84.17	−336	5,013	−1,620	7,998	−3,142	6,636	−7,415	3,638	27,666
Capex	6,717	5,165	4,436	4,737	10,210	12,819	10,974	10,088	14,774	15,793	12,697	14,661
Free cash flow	1,361	1,733	3,494	7,693	4,465	17.98	7,910	16,201	8,563	−3,466	8,254	10,595
CFO / OP %	92.0%	111.0%	66.0%	93.0%	91.0%	118.0%	103.0%	81.0%	130.0%	53.0%	101.0%	96.0%

JSW Steel ratios

Working-capital days and returns, by year.

JSW Steel Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	18	25	28	25	32	23	22	20	17	17	19	23
Inventory days	136	135	147	118	123	130	160	208	130	151	142	124
Days payable	174	206	171	148	136	168	170	189	148	132	131	129
Cash conversion cycle	−23	−48	2	−7	17	−17	9	36	−4	33	28	16
Working capital days	−58	−105	−66	−36	−63	−96	−93	−24	−50	−29	−19	−15
ROCE %	10.0%	5.0%	14.0%	18.0%	20.0%	9.0%	15.0%	27.9%	8.0%	13.0%	8.0%	10.9%

JSW Steel: frequently asked questions

What are the latest quarterly results of JSW Steel?

For the Sep 2026 quarter, JSW Steel reported sales of ₹54,600 Cr, up 20.5% year on year and net profit of ₹5,342 Cr, up 225.4% year on year. The operating margin was 19.1%.

What is the annual revenue of JSW Steel?

JSW Steel's sales for the year to Mar 2026 were ₹1.86 L Cr; over the last twelve months they were ₹2.00 L Cr.

What is the net profit of JSW Steel?

Net profit for the year to Mar 2026 was ₹25,429 Cr, and ₹31,610 Cr over the last twelve months. Earnings per share over the same trailing period were ₹116.15.

How much debt does JSW Steel have?

JSW Steel reported borrowings of ₹99,431 Cr at Mar 2026, against cash and equivalents of ₹40,933 Cr.

What is the free cash flow of JSW Steel?

Cash from operations was ₹25,114 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹10,595 Cr.

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