JSW Steel Limited has appointed M/s. Deloitte Haskins & Sells Chartered Accountants LLP as its statutory auditor for a term of five years, subject to shareholder approval. The appointment is effective from the conclusion of the 33rd Annual General Meeting scheduled for 2027 and will remain in force until the conclusion of the 38th Annual General Meeting in 2032. The decision was taken by the Board of Directors at its meeting held on July 17, 2026, based on the recommendation of the Audit Committee.

The current statutory auditor, M/s. S R B C & CO. LLP, Chartered Accountants, will continue to perform the statutory audit until the conclusion of the 33rd Annual General Meeting in 2027. This marks the completion of their second consecutive term of five years with the company. The transition ensures continuity in the audit function while adhering to regulatory requirements.

M/s. Deloitte Haskins & Sells Chartered Accountants LLP was constituted in 1997 and converted to a Limited Liability Partnership (LLP) on June 2, 2021. The firm is registered with the Institute of Chartered Accountants of India (ICAI Firm Registration No. 117364W/W-100739) and operates as part of the Deloitte Haskins & Sells & Affiliates network. The firm has approximately 130 partners and offices across major cities including Mumbai, Gurugram, Kolkata, Chennai, Bangalore, Ahmedabad, Hyderabad, and Pune.

Auditor Details

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information is also available on the company's website. The Board meeting commenced at 10:00 AM IST and concluded at 02:35 PM IST on July 17, 2026.

JSW Steel has outlined key operational and financial targets, setting a leverage goal of under 2.5X while capping the maximum allowance at 3X. The company also anticipates that its Dolvi Phase 3 asset will be ready by September 2027, in time for the next financial year.

Operational Outlook and Volume Growth

The company expects higher volumes in Q2, supported by the ramp-up of BF-3. However, coking coal costs have risen by $12-$15 per tonne during the period, though the company anticipates these costs will likely decrease in Q3. The following table summarizes the key operational and cost parameters disclosed by the company:

Pipeline Strategy and Cost Pressures

JSW Steel's pipeline, designed to carry 20 million tonnes, is targeting cost savings of INR 1,000 per tonne. This initiative reflects the company's focus on improving cost efficiency across its operations. However, rising input costs linked to the Middle East conflict are posing a challenge, increasing steel production costs by approximately $20 per tonne. The interplay between these cost-saving measures and external cost pressures remains a key factor in the company's near-term financial performance.

Key Highlights

• Leverage target set at under 2.5X, with a maximum cap of 3X
• Dolvi Phase 3 asset expected to be ready by September 2027
• BF-3 ramp-up anticipated to drive higher volumes in Q2
• Coking coal costs up by $12-$15 per tonne, with a likely Q3 decline
• Pipeline targeting 20 million tonnes capacity with INR 1,000 per tonne cost savings
• Middle East conflict contributing to a rise in steel production costs by approximately $20 per tonne