JSWSTEEL JSW Steel Q3 FY26 results (Oct–Dec 2025) and concall
JSW Steel delivered best-ever quarterly sales of 7.64 MT in Q3 FY26 despite BF-3 shutdown for capacity enhancement. The highlight was the strategic JFE Steel JV for BPSL at Rs.53,000 crore EV, enabling Rs.37,000 crore deleveraging. Board approved a 5 MT greenfield plant in Odisha at Rs.31,600 crores. Steel prices were at multi-year lows during the quarter but are recovering Rs.3,500+ in December-January. Management guided Rs.1 lakh crore capex over 4-5 years targeting 56 MT total capacity by FY31.
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What they filed
Q3 FY26: revenue up 11.1%, net profit up 235.2% against the same quarter last year.
| Line item | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|
| Revenue | 41,378 | 44,819 | 43,147 | 45,152 | 45,991 +11% |
| EBITDA | 5,579 | 6,135 | 7,476 | 7,027 | 6,379 +14% |
| Net profit | 719 | 1,501 | 2,209 | 1,646 | 2,410 +235% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
