JSW Steel reported consolidated crude steel production of 22.93 lakh tonnes for May 2026, registering a 15% year-on-year growth. The increase was driven by full operations at the Dolvi unit and fully ramped-up JVML operations, following a planned maintenance shutdown in the prior year.

Indian operations recorded production of 21.98 lakh tonnes, up 15% from 19.17 lakh tonnes in May 2025. JSW Steel USA – Ohio produced 0.95 lakh tonnes, marking a 20% increase compared to 0.79 lakh tonnes in the same period last year.

The steel business undertaking of Bhushan Power and Steel Limited (BPSL), a subsidiary of the company, was transferred on a slump-sale basis to JSW-JFE Steel Limited in March 2026. Consequently, production figures relating to the transferred undertaking have been excluded from the previous year's numbers for comparison.

Blast Furnace 3 (BF3) at Vijayanagar is currently under shutdown for capacity upgradation and is expected to restart in the second fortnight of June 2026. Capacity utilisation for Indian operations in May stood at approximately 98% excluding BF3 capacity, and 87% including BF3 capacity.

JSW Steel has fixed Tuesday, July 7, 2026, as the record date to determine shareholder eligibility for a dividend of ₹7.10 per share for the financial year ended March 31, 2026. The payout, recommended by the Board of Directors on May 14, 2026, is subject to approval at the upcoming 32nd Annual General Meeting. Shareholders must ensure their details are updated with the Registrar and Transfer Agent by the record date to facilitate the correct Tax Deduction at Source (TDS) processing.

The dividend will be paid to equity shareholders holding fully paid-up shares with a face value of Re.1 each as of the record date. Under the provisions of the Income Tax Act, 2025, dividends are taxable in the hands of shareholders, and the company is required to deduct tax at source at the time of payment. To determine the appropriate withholding tax rate, all shareholders must update mandatory information through their Depository Participant or with the Registrar and Transfer Agent.

Key details required include residential status, Permanent Account Number (PAN), Aadhaar number for individuals, shareholder category, email address, address, contact number, and bank account details. The company will rely on the data available on the record date to compute TDS liabilities. Shareholders holding shares in physical form must submit these details to receive dividends, which are paid only via electronic mode.

The applicable TDS rates vary based on the shareholder's category and documentation. For resident individuals, TDS will not apply if the aggregate dividend distributed during the tax year 2026-27 does not exceed ₹10,000 or if Form 121 is submitted. Other resident shareholders are subject to a 10% TDS if a valid PAN is provided. If the PAN is invalid or not linked with Aadhaar, the tax deduction rate increases to 20%. Specific categories such as insurance companies, mutual funds, and Alternative Investment Funds (AIF) can claim nil or lower deductions by submitting valid self-declarations and supporting documents.

Non-resident shareholders and foreign companies face a standard withholding tax rate of 20%, plus applicable surcharge and cess. However, they may opt for benefits under the Double Taxation Avoidance Agreement (DTAA) if more favorable. To avail of treaty benefits, non-resident shareholders must submit a self-attested copy of their PAN, a valid Tax Residency Certificate (TRC) for the tax year 2026-27, and the electronically filed Form 41. The company emphasized that the application of beneficial DTAA rates depends on the completeness and satisfactory review of the submitted documents.

Shareholders seeking lower or nil TDS rates must provide a valid certificate issued under Section 395(1) of the Income Tax Act. All required documents, including self-declarations and certificates, must be uploaded with the Registrar and Transfer Agent, KFin Technologies Limited, via the specified portal not later than July 13, 2026. The company clarified that no communication regarding tax determination would be entertained after this deadline. If tax is deducted at a higher rate due to missing or defective details, shareholders can claim a refund while filing their income tax returns.