JSW Steel crude steel output rises 10% QoQ to 7.27 million tonne in Q2FY27
- Consolidated crude steel production rose 10% QoQ and 5% YoY to 7.27 million tonne in Q2FY27
- Indian operations grew 11% QoQ to 7.07 million tonne, driving overall volume expansion
- Capacity utilisation in India hit 88% for the quarter, rising to ~90% in September 2026
- H1FY27 consolidated production increased 4% YoY to 13.86 million tonne
*this image is generated using AI for illustrative purposes only.
JSW Steel reported consolidated crude steel production of 7.27 million tonne in Q2FY27, marking a 10% rise QoQ and a 5% increase YoY.
Production performance at a glance
The quarterly output reflects growth on both a sequential and annual basis, driven primarily by Indian operations. The table below summarises the key production metrics reported for Q2FY27, broken down by geography.
| Particulars | Q2FY27 | Q1FY27 | Q2FY26 | Change (QoQ) | Change (YoY) |
|---|---|---|---|---|---|
| Indian Operations | 7.07 million tonne | 6.35 million tonne | 6.71 million tonne | +11% | +5% |
| JSW Steel USA - Ohio | 0.20 million tonne | 0.24 million tonne | 0.24 million tonne | -17% | -17% |
| Consolidated Production | 7.27 million tonne | 6.59 million tonne | 6.95 million tonne | +10% | +5% |
Note: Previous year figures exclude the steel business undertaking of Bhushan Power and Steel Limited, transferred to JSW-JFE Steel Limited in March 2026.
Capacity utilisation and ramp-up
The capacity utilisation of Indian operations stood at 88% for Q2FY27. For September 2026 alone, utilisation reached approximately 90% as Blast Furnace 3 (BF3) at Vijayanagar gradually ramps up following a shutdown for capacity upgradation.
H1FY27 production overview
For the first half of FY27, consolidated crude steel production clocked 13.86 million tonne, registering a 4% YoY increase compared to 13.32 million tonne in H1FY26.
| Particulars | H1FY27 | H1FY26 | Change (YoY) |
|---|---|---|---|
| Indian Operations | 13.41 million tonne | 12.85 million tonne | +4% |
| JSW Steel USA - Ohio | 0.45 million tonne | 0.48 million tonne | -6% |
| Consolidated Production | 13.86 million tonne | 13.32 million tonne | +4% |
What the numbers show
The 10% sequential jump in consolidated production alongside a 5% year-on-year rise indicates that JSW Steel expanded output both relative to the preceding quarter and compared to the same period a year earlier. The simultaneous improvement on both measures points to a sustained uptick in production volumes during Q2FY27. Notably, Indian operations drove this growth with an 11% QoQ increase, offsetting a decline in US operations. The ramp-up of BF3 at Vijayanagar appears to be a key factor supporting the higher utilisation rates observed in September.
Historical Stock Returns for JSW Steel
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.32% | +3.50% | -1.05% | -0.19% | +4.78% | 0.0% |
How will the continued ramp-up of Blast Furnace 3 at Vijayanagar impact JSW Steel's capacity utilisation targets for the remainder of FY27?
What specific operational or market factors are driving the 17% year-on-year decline in production at JSW Steel USA - Ohio?
How might the transfer of Bhushan Power and Steel's assets to JSW-JFE Steel influence JSW Steel's consolidated volume guidance for future quarters?
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