JSW Steel Q4 Results: JSW Steel on Thursday, 14 May, reported its results for the fourth quarter ended March 2026, posting 989% year-on-year (YoY) surge in its consolidated profit after tax (PAT) attributable to the owner of the company at ₹16,370 crore, up from ₹1,503 crore, supported by an extraordinary gain, while its revenue from operations recorded a 14% YoY growth.
The revenue from operations stood at ₹51,180 crore in Q4FY26, up from ₹44,819 crore posted in the year-ago period.
The company announced their consolidated profit after tax of ₹19,243 crore, supported by an extraordinary gain of ₹17,888 crore. This total included an ₹18,051 crore gain from the slump sale of the BPSL steel operation, offset by an exceptional charge of ₹163 crore related to employee liabilities arising from the introduction of the new labour code.
When excluding exceptional items, the normalised PAT was ₹3,475 crore for the quarter and ₹8,698 crore for FY26.
In an exchange filing, the company announced that it achieved its highest quarterly revenue from operations at ₹51,180 crore, accompanied by an adjusted EBITDA of ₹9,713 crore, which results in an EBITDA margin of 19% for the quarter.
The EBITDA increased by 47% compared to the previous quarter, fueled by better sales realisations, although this was somewhat countered by the rise in coking coal costs. The reported EBITDA amounted to ₹8,634 crore.
The company’s Net Gearing (Net Debt to Equity) was 0.51x at the end of the quarter, down from 0.92x at the end of Q3 FY26, while Leverage (Net Debt to EBITDA) was 1.81x, down from 2.91x at the end of Q3 FY26.
As of 31 March 2026, Net Debt amounted to 53,870 crores, a decrease of 26,477 crores from 31 December 2025, driven by deleveraging from the slump sale of the BPSL steel business, strong cash generation, and the release of working capital, as per the exchange filing.
(more to come)