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JSW Steel’s Q1FY25 Results

JSW Steel’s revenue declined 11% YoY
  • 30 Oct 2024
Read Full Article >
  • 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:

(₹ crores) Q2FY24 Q1FY25 Q2FY25 QoQ (%) YoY (%)
Total income
44,821
43,107
39,837
-8%
-11%
Total expenses
40,810
41,715
38,644
-7%
-5%
Profit before tax
4,585
1,380
789
-43%
-83%
Tax
1,812
513
385
-25%
-79%
Profit after tax
2,773
867
404
-53%
-85%
Earnings per share
11.3
3.5
1.8

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

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