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Strong Q2, healthy prospects: Stock may be pricing in near-term positives

The completion of ongoing capex may increase steelmaking capacity to 37 million tonnes (mt) by FY25. Beyond that, JSW Steel aims to reach 50 mt capacity by FY31

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Devangshu Datta

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JSW Steel’s results for the July-September quarter (Q2) of FY24 was a significant Street beat. Consolidated net sales grew about 7 per cent year-on-year (Y-o-Y) and about 5 per cent quarter-on-quarter (Q-o-Q) to Rs 43,800 crore. Earnings before interest, tax, depreciation, and amortisation (Ebitda) rose by 350 per cent Y-o-Y and about 12 per cent Q-o-Q to Rs 7,900 crore. Adjusted profit after tax (PAT) was at Rs 3,060 crore versus a loss of Rs 1,300 crore in Q2FY23 and PAT of Rs 2,300 crore in Q1FY24.

The completion of ongoing capex may increase steelmaking capacity to 37 million tonnes

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First Published: Oct 23 2023 | 9:34 PM IST

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