JSW Steel has announced that it will review its third quarter financial results on January 23. This scheduled announcement marks an important date for investors, analysts, and market participants who are closely monitoring the steel major's performance.

Results Review Schedule

The company has set January 23 as the date for reviewing its Q3 financial results. This announcement provides stakeholders with advance notice of when they can expect to receive updates on the company's quarterly performance metrics.

Market Significance

The upcoming results review represents a crucial opportunity for investors to assess JSW Steel's operational and financial performance during the third quarter. Market participants will be looking for insights into the company's:

• Revenue trends
• Profitability metrics
• Overall business performance

The scheduled review date allows investors and analysts to prepare for the disclosure of key financial information and performance indicators. These will help evaluate the company's current market position and operational efficiency.

This announcement is particularly significant for investors and stakeholders who have been awaiting the company's performance update. The review of the third quarter results will provide valuable insights into JSW Steel's financial health and operational effectiveness during the period under review.

JSW Steel Limited has received a rating watch with positive implications from ICRA Limited on its long-term bank facilities and non-convertible debentures, following the announcement of a strategic partnership with Japan-based JFE Steel Corporation. The rating action was communicated to stock exchanges on December 12, 2025, in compliance with SEBI listing regulations.

Strategic Joint Venture Details

The company's board of directors approved a strategic 50:50 joint venture with JFE Steel Corporation on December 03, 2025. The transaction structure involves several key components that will reshape JSW Steel's operational landscape.

The steel business undertaking of Bhushan Power and Steel Limited will be transferred to the joint venture through a slump sale. The JV will be housed under JSW Kalinga Steel Limited, with JSW Sambalpur Steel Limited as its wholly owned subsidiary.

Rating Action and Financial Impact

ICRA's rating watch reflects the expected improvement in JSW Steel's financial risk profile following the transaction completion. The rating agency has placed long-term ratings on watch while maintaining short-term ratings.

The transaction is expected to result in significant deleveraging of JSW Steel's balance sheet. ICRA anticipates aggregate deleveraging of ₹37,000.00 crores at the consolidated level, combining cash proceeds and deconsolidation of BPSL's net debt of around ₹5,000.00 crores.

Credit Profile Enhancement

The strategic partnership with JFE Steel Corporation brings a long-term partner with substantial expertise in steel manufacturing. JFE Steel Corporation is a leading integrated steel producer based in Japan, with consolidated crude steel production of 23.20 million tonnes in the fiscal year ended March 2025.

ICRA expects the net debt/OPBDITA ratio to improve to around 2.10-2.20 times over FY2027 and FY2028, compared to an elevated level of 3.40 times as of March 31, 2025. This improvement reflects the substantial deleveraging impact of the transaction.

Facility Coverage and Outstanding Amounts

The rating action covers various debt instruments totaling ₹94,660.00 crores across different categories.

ICRA will continue monitoring the progress regarding receipt of requisite approvals and successful completion of the transaction. The rating watch will be resolved upon completion of the transaction, with potential for positive rating action based on the improved financial metrics and strategic benefits from the partnership.