Q1-FY24 · Jayant Acharya
Our operating EBITDA at INR 7,046 crore went up by 64%.
JSWSTEEL / language trends
Read confidence between the lines.
JSW Steel · tone and specificity signals across the available quarters.
Research layer active
Language signals
What changed in management language.
tracked
Q1-FY24 · Jayant Acharya
We expect that the coking coal benefit of the lower coking coal prices will now flow into quarter two, which would give us a benefit of $45-$50 per ton.
Q1-FY24 · Jayant Acharya
Our value-added component sales grew by 32%, and as a percentage of total sales in quarter one were 61%.
Q1-FY25 · Jayant Acharya
India remains a bright spot among major global economies and is a multi-decadal growth opportunity.
Q1-FY25 · Jayant Acharya
We are in discussion, and we would expect the government to take some steps towards this.
Q1-FY25 · Jayant Acharya
Our focus on value-added and special products across sectors and segments continued to bear fruit.
Q1-FY26 · Jayant Acharya
Our domestic sales grew by 12% YoY, which was much higher than the industry growth of around 8% during the quarter.
Q1-FY26 · Jayant Acharya
We also reported the highest-ever sales in the alloy-long products business, which grew 19% YoY, and our sales to the appliance segment grew by 27% YoY.
Q1-FY26 · Jayant Acharya
The headwind is, as I said, in terms of price. So the prices are something which have softened. But we have these cushions to be able to, you know, mitigate some part of the cost, part of the profit realization.
Q2-FY24 · Jayant Acharya
We are on track to achieve our guidance, both for production and sales.
Q2-FY24 · Jayant Acharya
The price increase, which we have taken in August, September and also part in October, will flow into the October-December quarter. That will, you know, partly offset these cost increases.
Q2-FY24 · Jayant Acharya
We feel the current elevated coking coal prices are not sustainable. They've gone up sharply and is expected to moderate.
Q2-FY25 · Jayant Acharya
Our captive use in this quarter has gone up slightly, even on an increased volume of production. Our captive use was 41% versus 38%, last quarter.
Q2-FY25 · Jayant Acharya
We are retaining our volume guidance of 28.4 million tons for production and 27 million tons of sales for FY 2025.
Q2-FY25 · Jayant Acharya
The prices from the beginning of this April to September closing has fallen quite sharply. So today, the price levels at which most of the steel companies have been operating is not really sustainable.
Q2-FY26 · Jayant Acharya
We have commissioned India's first green hydrogen electrolyzer at a 25 MW facility capable of producing 3,800 tons of green hydrogen per year.
Q2-FY26 · Jayant Acharya
Our focus on exports over the last few years has moderated due to a strong growth in the domestic market.
Q2-FY26 · Jayant Acharya
We are reasonably optimistic that the prices should move up in this quarter, maybe November, December.
Q3-FY24 · Jayant Acharya
Our production numbers were the highest at 6.87 million tons, with a capacity utilization at 94%.
Q3-FY24 · Jayant Acharya
We expect some deleveraging by the end of FY 2024, driven by release of working capital, based on the inventory liquidation and better working capital flow during the quarter on stronger volumes.
Q3-FY24 · Jayant Acharya
We are committed to reduce our carbon emissions by 42% to 1.95 tons per ton of crude steel, and issued the global steel industry's first bond linked to sustainability targets.
Q3-FY25 · Jayant Acharya
We delivered the highest-ever consolidated crude steel production in Q3 at 7.03 million tons, up 2% YoY and 4% quarter-on-quarter.
Q3-FY25 · Jayant Acharya
Our EBITDA per ton was 8,316 per ton, and the profit after tax was 719 crores.
Q3-FY25 · Jayant Acharya
We expect coking coal cost to be lower by about $10-$15 during the quarter.
Q3-FY26 · Jayant Acharya
This transaction will enable a cash flow of INR 32,000 crore and a substantial deleveraging of about INR 37,000 crore for JSW Steel.
Q3-FY26 · Jayant Acharya
We have been more or less at 90% or above across quarters.
Q3-FY26 · Jayant Acharya
Looking ahead, steel prices have begun to recover in end December and have continued an uptrend in January.
Q4-FY24 · Jayant Acharya
We expect to be returning to our normative EBITDA numbers during the FY 2025 with various improvement measures, falling coking coal prices, stable steel prices, which we see.
Q4-FY24 · Jayant Acharya
This is prime hard coking coal. You are aware we have been looking for such assets, in the past, internationally as well as domestically.
Q4-FY24 · Rajeev Pai
In terms of debt, we have peaked out. There could be, in a quarter or two, there could be some investment in working capital, but that should also result into release in subsequent quarters.
Q4-FY25 · Jayant Acharya
The new 5 million ton operation post-stabilization will have significantly lower conversion costs compared to our existing operations by around INR 2,500 per ton of hot rolled coil.
Q4-FY25 · Jayant Acharya
We have implemented the resolution plan in full compliance with the laws, and that is reflected in the status of the assets as you see today.
Q4-FY25 · Arun Maheshwari
Our journey of diversification from multiple sources started long back. It is not the recent one.
Q4-FY26 · Jantara Joint
FY26 was a transformational year for JSW steel marked by strategic joint ventures with global steel majors, progress on steel making and downstream capacity expansions, enhanced raw material security and significant balance sheet deleveraging.
Q4-FY26 · Jantara Joint
We have revised our stated maximum cap for gearing from 1.75 to 1.25 and leverage from 3.75 to three. However, our comfort level will be to keep the leverage below 2.5.
Q4-FY26 · Jantara Joint
We do not foresee any conflict between the JV partners per se. They will have their own strategies for sure because they'll be different legal entities.