JSW Steel has disclosed the transcripts of the Q4 FY26 Earnings Conference Call conducted after the meeting of its Board of Directors on May 14, 2026. This disclosure was made pursuant to Regulation 30(6) read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided the link to the transcripts hosted on its website. Additionally, the audio recordings of the earnings call were made available on the same day of the conference call on the company's website.

Financial Performance Overview

JSW Steel reported a significant surge in consolidated net profit for the quarter ended March 31, 2026, driven by an exceptional gain arising from the slump sale of its BPSL steel business. The company's consolidated net profit for Q4 FY26 stood at ₹19,243 crore, a substantial increase compared to ₹1,501 crore in the previous year. This performance was bolstered by an exceptional gain of ₹17,888 crore recorded during the quarter. Consolidated revenue from operations for Q4 FY26 rose to ₹51,180 crore, up from ₹44,819 crore in the same quarter of the previous year, reflecting a 14% year-on-year growth.

Consolidated Financial Metrics

The following table summarizes JSW Steel's key consolidated financial metrics for the reported period:

Operational Highlights

Consolidated crude steel production for the quarter stood at 7.49 million tonnes, while total sales volumes reached 7.97 million tonnes, marking a 6% increase year-on-year. The company achieved its highest ever quarterly domestic sales and Value-Added Steel Products (VASP) sales during the period. A major strategic development during the quarter was the completion of the slump sale of the BPSL steel business to JSW Sambalpur Steel Ltd., a joint venture with JFE Steel. This transaction resulted in the exceptional gain and is expected to enable significant deleveraging. Following this, the company's net debt reduced to ₹53,870 crore, with a net debt-to-equity ratio of 0.51x.

JSW Energy Limited has disposed of 2,50,00,000 equity shares in JSW Steel Limited through a bulk deal on May 18, 2026. The shares sold represented 1.02% of the equity share capital of the target company. The disclosure was made under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to the transaction, JSW Energy held 7,00,38,350 shares, accounting for 2.86% of the paid-up share capital. The sale has reduced the promoter group entity's holding to 4,50,38,350 shares, which constitutes 1.84% of the total equity share capital. The total equity share capital of JSW Steel remains at 2,44,54,53,966 shares of Re.1 each.

Shareholding Details

The following table outlines the changes in shareholding for JSW Energy Limited following the bulk deal transaction:

The transaction was executed on the stock exchanges where JSW Steel is listed, specifically BSE Limited and National Stock Exchange of India Limited. The disclosure confirmed that JSW Energy belongs to the promoter group of JSW Steel. The mode of sale was specifically a market sale through a bulk deal.