JSW Steel has received credit rating assignments from Japan Credit Rating Agency (JCR), with the Japanese rating agency assigning A- ratings with stable outlook for both foreign and local currency long-term issuer categories.

Credit Rating Details

The rating assignment covers comprehensive evaluation of the steel manufacturer's creditworthiness across different currency exposures:

Business Position and Market Standing

JCR's rationale emphasizes JSW Steel's strong market position as one of India's largest steel manufacturers. The company operates six steel plants domestically and one facility in the United States, ranking among the world's top crude steel producers. JSW has established large-scale steel plants near iron ore mines, creating an integrated and efficient production system from raw material procurement to steel making and processing.

The company maintains significant market presence with approximately 17.00% domestic market share in capacity terms. JSW supplies steel across diverse industries including infrastructure, automotive, and construction materials through its extensive distribution network of approximately 2,300 JSW Shoppe retail outlets nationwide.

Strategic Partnerships and Expansion

JSW's strategic collaborations have strengthened its market position significantly. In 2009, the company partnered with JFE Holdings, which made an approximately 15.00% equity investment, making JSW an equity-method affiliate. This collaboration deepened with establishment of a joint venture to manufacture grain-oriented electrical steel sheets.

Additionally, JSW entered into non-binding heads of agreement with Korea's POSCO HOLDINGS to establish a joint venture for steel manufacturing, demonstrating continued expansion through strategic partnerships.

Financial Performance and Outlook

JCR noted that JSW experienced decreased total income and profits despite increased steel production and sales volumes. The decline was attributed to falling sales prices, which had significant negative impact despite downward trending raw material prices.

However, a subsequent period showed recovery indicators:

The rating agency highlighted JSW's improved plant operating rates and lower raw material costs as key drivers of profitability recovery. The company's equity ratio has strengthened to 33.00% as of the end of a recent fiscal year, compared to mid-20% range approximately a decade ago, indicating steady financial structure improvement.

Capacity Expansion and Investment Plans

JSW continues pursuing capacity expansion, targeting production capacity of 51.50 million tonnes per annum by FY2031. The company operates 23 iron ore mines with 12 currently operational, enabling internal raw material procurement. This vertical integration supports efficient raw material transportation through pipe conveyor and railways systems, underpinning price competitiveness.

JCR expects JSW to maintain disciplined financial management given its strong track performance record, competitive domestic position, favorable business environment, and strategic partnerships despite ongoing investments.

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.