JSW Steel Ltd
JSW Steel Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
India’s GDP expected to grow close to 7%, with steel growth elasticity around 1.3x GDP. - Steel market growth guidance: 7% to 9% for the coming year. - JSW expects sales growth of 10% to 12%, excluding BPSL adjustments. - Production growth guidance around 13% for FY27. - JSW targets 62 million tonnes capacity in India by FY32, plus 16 million tonnes from joint ventures. - Capacity expansions planned to support growth at roughly 8%-10% CAGR over the next 3-4 years. - Joint Ventures (JV) will add about 10 million tonnes capacity by FY30; combined growth faster than industry average (1.5x). - Annual capex expected between Rs. JSW Steel expects steel market growth in India of about 7-9%, with flat steel growth around 10-12% market sales growth for JSW (Page 20).
From JSW Steel Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- India’s GDP expected to grow close to 7%, with steel growth elasticity around 1.3x GDP.
- Steel market growth guidance: 7% to 9% for the coming year.
- JSW expects sales growth of 10% to 12%, excluding BPSL adjustments.
- Production growth guidance around 13% for FY27.
- JSW targets 62 million tonnes capacity in India by FY32, plus 16 million tonnes from joint ventures.
- Capacity expansions planned to support growth at roughly 8%-10% CAGR over the next 3-4 years.
- Joint Ventures (JV) will add about 10 million tonnes capacity by FY30; combined growth faster than industry average (1.5x).
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Profitability & Margins
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Capital Expenditure Plans
- Total capex guidance is Rs.1,26,000 crores over the next 4-5 years, covering capacity expansion, downstream, and mining.
- An additional Rs.1,00,000 crores is expected between now and FY33 for JV equity, mining, and further capacity expansion.
- Annual capex run-rate is expected to rise to Rs.30,000 - Rs.35,000 crores in the coming years.
- Key ongoing projects include BF-6 expansion at Vijayanagar (~Rs.26,000 crores) and Dolvi Phase 3 (expected CY27).
- JV with JFE Steel and POSCO for expansions, including 10 million tonnes JV capacity with JFE and 6 million tonnes plant with POSCO in Odisha.
- Focus on green steel: setting up a 4 million tonnes DRI and scrap-based facility at Salav.
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Top-ranked in Ferrous Metals
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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JSW Steel Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹51.2K Cr, net profit ₹19.2K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What JSW Steel's management said in earlier quarters
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Frequently Asked Questions
What were JSW Steel Ltd Q4 FY26 results?
India’s GDP expected to grow close to 7%, with steel growth elasticity around 1.3x GDP. - Steel market growth guidance: 7% to 9% for the coming year. - JSW expects sales growth of 10% to 12%, excluding BPSL adjustments. - Production growth guidance around 13% for FY27. - JSW targets 62 million tonnes capacity in India by FY32, plus 16 million tonnes from joint ventures. - Capacity expansions planned to support growth at roughly 8%-10% CAGR over the next 3-4 years. - Joint Ventures (JV) will add about 10 million tonnes capacity by FY30; combined growth faster than industry average (1.5x). - Annual capex expected between Rs. JSW Steel expects steel market growth in India of about 7-9%, with flat steel growth around 10-12% market sales growth for JSW (Page 20).
What is JSW Steel Ltd share price analysis?
JSW Steel Ltd currently shows a neutral. The stock trades at a P/E of 25.8 with a market cap of ₹310,573 Cr. Investors should review the full earnings analysis for detailed insights.
Is JSW Steel Ltd planning capital expenditure?
Total capex guidance is Rs.1,26,000 crores over the next 4-5 years, covering capacity expansion, downstream, and mining.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.