Elevated steel imports from China
India's Q2 imports jumped 43% YoY to 3.18M tons, driven by Chinese exports, pressuring domestic prices and market share.
high · management_commentaryJSW Steel Limited — Q2 FY25
JSW Steel reported Q2 FY25 consolidated revenue of INR 39,684 crore, down 8% QoQ, with EBITDA of INR 5,437 crore (margin 13.7%) and PAT of INR 404 crore.
neutral
medium
✓ Verified against BSE filing
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Iron ore cost inflation from NMDC price hikes
NMDC increased iron ore prices twice recently, which management deemed unwarranted, potentially squeezing spreads despite coking coal savings.
medium · analyst_questionUS operations profitability deterioration
Ohio and Texas combined posted an EBITDA loss of $11 million due to price drops and unplanned maintenance shutdown, with uncertain recovery timing.
medium · management_commentaryDebt increase and working capital strain
Net debt rose ~INR 4,900 crore to ~INR 85,000 crore due to CapEx, acquisition, and working capital build; CFO expects release of INR 1,500-2,000 crore in H2.
medium · data_observation