JSW Steel has released its comprehensive operational update for FY26, showcasing strong annual performance with combined crude steel production reaching 30.14 million tonnes, representing an 8% year-on-year growth. The company demonstrated resilience despite operational challenges and successfully expanded its production capacity during the year.

Annual Production Performance

The company achieved significant growth in its annual production metrics, with consolidated production reaching 30.08 million tonnes compared to 27.79 million tonnes in FY25. The inclusion of JSW Sambalpur Steel Limited brought the combined production to 30.14 million tonnes for FY26.

Capacity Expansion and Operational Updates

JSW Steel successfully upgraded its Salem unit during FY26, with significant infrastructure improvements completed in early 2026. The company upgraded one of its casters in January 2026, followed by commissioning a new Ladle Furnace and Vacuum Degasser in February 2026. Upon successful integration by the end of February 2026, the Salem unit's capacity increased from 1.0 MTPA to 1.15 MTPA, effective March 2026.

The capacity utilization for combined Indian operations stood at approximately 92% excluding BF-3 capacity, and 87% including BF-3 capacity for the full year.

Q4 FY26 Quarterly Performance

For Q4 FY26 specifically, JSW Steel reported combined crude steel production of 7.49 million tonnes. The quarterly performance showed mixed results with strong capacity utilization but year-on-year decline in some segments.

The capacity utilization for combined Indian operations during Q4 FY26 stood at approximately 96% excluding BF-3 capacity, and 87% including BF-3 capacity.

Impact of BF-3 Shutdown

Blast Furnace-3 at Vijayanagar has been under shutdown for capacity upgradation since the end of September 2025, which impacted crude steel production and capacity utilisation at the company's Indian operations during FY26. This planned maintenance and upgrade affected both quarterly and annual production metrics, though the company maintained strong operational performance in other facilities.

Strategic Developments

The steel business undertaking of Bhushan Power and Steel Limited, a subsidiary of the company, was transferred on a slump-sale basis to JSW Sambalpur Steel Limited with effect from March 27, 2026, towards formation of joint venture with JFE Steel Japan. The production figures relating to the transferred undertaking have been disclosed separately from the date of transfer and added as combined production for comparison with prior periods.

JSW Steel Limited has submitted its quarterly compliance certificate to stock exchanges, confirming adherence to SEBI regulations for the quarter ended March 31, 2026. The steel major filed the mandatory certificate under Regulation 74(5) of SEBI (Depository and Participants) Regulations, 2018 with both the National Stock Exchange of India Limited and BSE Limited on April 09, 2026.

Regulatory Compliance Confirmation

The company's compliance certificate was supported by documentation from KFin Technologies Limited, JSW Steel's Registrar and Share Transfer Agent (RTA). KFin Technologies issued its certificate on April 08, 2026, confirming that all regulatory requirements under SEBI's depository regulations were met during the quarter.

RTA Compliance Activities

KFin Technologies Limited confirmed completion of several key regulatory activities within the prescribed 15-day timeframe upon receipt of security certificates from depository participants. The RTA validated that all dematerialization requests were processed appropriately and that securities remained properly listed on relevant stock exchanges.

Key Compliance Actions Completed:

• Confirmed approval or rejection of dematerialization requests within regulatory timeframes
• Verified that securities comprised in certificates are listed on appropriate stock exchanges
• Mutilated and cancelled physical certificates forwarded by Depository Participants
• Updated records to substitute depository names as registered owners
• Certified compliance to depositories and stock exchanges as required

Corporate Structure and Communication

The compliance filing was signed by Manoj Prasad Singh, serving as Company Secretary in interim capacity. JSW Steel's registered office is located at JSW Centre, Bandra Kurla Complex, Mumbai, while KFin Technologies operates from its facilities in Hyderabad and Mumbai.

This quarterly compliance certificate represents JSW Steel's ongoing commitment to maintaining regulatory standards and ensuring proper governance of its share dematerialization processes in accordance with SEBI requirements.